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15 Cards in this Set
- Front
- Back
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Chart of Account contains: (3)
1. Name/description 2. Account Number 3. Account Category 4. Reconciliation |
1. Name/description
2. Account Number 3. Account Category |
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Financial Supply chain contains: (choose correct answers)
1. Customer 2. Vendor 3. Banks 4. G/L A/C |
1. Customer
2. Vendor 3. Banks 4. G/L A/C |
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Account Payable deals with
1. suppliers 2. customers 3. Assets 4. Cash flow |
1. suppliers
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Organizational structure in FI (3)
1. Company Code 2. Segment 3. Client 4. Controlling Area |
1. Company Code
2. Segment 4. Controlling Area |
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Master Data in FI contains:
1. G/L account 2. Reconciliation accounts 3. subledger 4. controlling area 5. Profit centers |
1. G/L account
2. Reconciliation accounts 3. subledger 5. Profit centers |
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many company codes can be assigned to one controlling area
true/false |
True
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What is the part of information Area in GL
1. Debit and Credit total 2. Line Items 3. Vendor account no 4. posting key |
1. Debit and Credit total
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Posting key has controlling functions for the document items and specifies below: (3)
1. Account type for posting 2. Debit or credit posting 3. field status 4. account number |
1. Account type for posting
2. Debit or credit posting 3. field status |
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Vendor account can be posted directly to the balance sheet
1. True 2. False |
vendors account needs reconciliation account to post to the G/L or balance sheet
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Which will be affected when Goods Received (2)
1. GR/IR 2. Inventory 3. Bank 4. Vendor |
1. GR/IR
2. Inventory |
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Customer payment can be done (2)
A. Full payment B. Partial Payment C. Crediting the bank Account D. Debiting the Inventory account |
A. Full payment
B. Partial Payment |
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Residual Item creates another new invoice for the payment difference.
A. True B. False |
A. True
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Which of the following can be included under asset accounts? (3)
A. Building B. Electricity Bills C. Machinery D. Low- value asset |
A. Building
C. Machinery D. Low- value asset |
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What are the following functions are associated with asset accounting? (3)
A. Appreciation B. Depreciation C. Allocation D. Retirement |
A. Appreciation
B. Depreciation D. Retirement |
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What are the methods in asset account posting?
A. Without a vendor or a purchase order B. To a vendor without reference to PO C. Production D. Via Material Management functions |
A. Without a vendor or a purchase order
B. To a vendor without reference to PO D. Via Material Management functions |
