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SAP S/4 HANA Financial Accounting Certification Guide

Stefanos Pougkas

Chapter 5

Financial Closing - all with Video Answers

Educators

Chapter Questions

Problem 1

Why might you define options to have manually allocated item keys for the financial statement version?
A. To be able to assign the same key to two multiple objects
B. To be able to enter an explanatory text for the item key
C. To be able to define if you want to summarize at the item level
D. To be able to assign functional areas to the items

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Problem 2

You can define the financial statement version without assigning a specific chart of accounts to it.
A. True
B. False

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Problem 3

Which of the following are default items assigned to every financial statement version? (There are three correct answers.)
A. Liabilities and equity
B. Profit and loss $(\mathrm{P} \& \mathrm{~L})$ results
C. Liquid funds
D. Assets
E. Noted items

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Problem 4

You can assign general ledger accounts to any item level in the financial statement version hierarchy.
A. True
B. False

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Problem 5

What kind of automated checks are available for the financial statement version? (There are two correct answers.)
A. Check for duplicate item keys
B. Check for accounts assigned to one side only
C. Check the financial statement notes for non-noted item accounts
D. Check for incorrectly assigned accounts

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Problem 6

Which object hierarchies can you maintain with the Manage Global Accounting Hierarchy app? (There are three correct answers.)
A. Cost center
B. Internal order
C. Segment
D. Profit center
E. Functional area

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01:38

Problem 7

In the trial balance report that is based on line items, how many fields can you select to report on?
A. More than 100
C. Fixed at 10
B. Around 50
D. More than 500

Teresa Fuston
Teresa Fuston
Numerade Educator
01:50

Problem 8

How many separate period intervals are there to control open posting periods?
A. 1
B. 2
C. 3
D. 4

Qudsiya Anis
Qudsiya Anis
Numerade Educator

Problem 9

In SAP S/4HANA, on which levels can you maintain open posting periods? (There are two correct answers.)
A. Controlling area
B. Segment
C. Posting period variant
D. Fiscal year variant

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02:11

Problem 10

A maximum of how many special/valuation periods can be open at the same time?
A. 1
B. 2
C. 4
D. 16

Akshaya Rs
Akshaya Rs
Numerade Educator
01:33

Problem 11

Your company code is assigned to a leading ledger, two additional normal ledgers, and one extension ledger. How many carryforwards must be executed?
A. 1
B. 3
C. 4
D. 8

James Kiss
James Kiss
Numerade Educator

Problem 12

What checks can you perform from the Audit Journal app? (There are three correct answers.)
A. Check gaps in journal entry numbering
B. Check nonbalancing accounts
C. Display journal entry changes
D. Check multireferenced invoices
E. Display journal entry warnings

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Problem 13

What is the main differentiating factor of posting a manual accrual document compared to other manual transactions?
A. Reference field
B. Reversal reason
C. Document type
D. Transaction type

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Problem 14

You can adjust a recurring entry before each run to account for price updates on purchases.
A. True
B. False

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Problem 15

How can you select to post accrual amounts when customizing the accrual engine? (There are two correct answers.)
A. Post delta amounts
B. Post foreign currencies
C. Post closed periods
D. Post full amounts

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Problem 16

Which process is automated with purchase order accruals, compared to manual accruals with the accrual engine?
A. Start accrual run
B. Create accrual object
C. Create opening posting
D. Breakdown accrual amount

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Problem 17

To which object do you assign valuation methods?
A. Valuation procedure
B. Account assignment
C. Accounting principle
D. Valuation area

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00:43

Problem 18

You use the lowest-value valuation method with active delta logic. Your open item was posted at 200 units of foreign currency, which originally translated to 100 units of local currency, and in the previous period it was 98 units. In the preceding foreign currency valuation run, the program posted a value of -1 currency units. What was the value in local currency units at the time of valuation?
A. 99
B. 97
C. 101
D. 98

Stark Ledbetter
Stark Ledbetter
Numerade Educator

Problem 19

You can post a simulation run for the leading ledger to analyze the effects of the currency valuation on your P&L standings.
A. True
B. False

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02:44

Problem 20

Flat-rate individual value adjustments are valid for which types of accounts?
A. Assets
B. Supplier
C. Customer
D. Materials

Oluwadamilola Ameobi
Oluwadamilola Ameobi
Numerade Educator

Problem 21

What are the reasons to perform regrouping of receivables and payables? (There are three correct answers.)
A. To display receivables and payables separately
B. To group payables and receivables based on the due dates
C. To align amounts on accounts with changed reconciliation accounts
D. To simplify and speed up dunning selection processing
E. To prioritize balance confirmation printing by postal code

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Problem 22

Which type of stock is best suited to a moving average price (MAP) valuation?
A. Raw materials
B. Work in process (WIP)
C. Finished goods
D. Third party

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Problem 23

For which of the following tasks must you always indicate manual task completion?
A. Programs
B. Transactions
C. Notes
D. Flow definitions

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Problem 24

Each task in the SAP S/4HANA Financial Closing cockpit can have exactly one prerequisite task assigned to it.
A. True
B. False

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