Question 1

Which of the following does the balance sheet include?

Accepted Answer

A) Revenue 
B) Expenses 
C) Assets 
D) Liabilities 
A) Revenue 
B) Expenses 
C) Assets 
D) Liabilities C,D

Question 2

The COA segment of the COA data includes which of the following?

Accepted Answer

A) Account currency 
B) Account number 
C) Account group 
D) Short text 
A) Account currency 
B) Account number 
C) Account group 
D) Short text B,C

Question 3

Liabilities are what the company owns,such as cash,land,and buildings.

Accepted Answer

A) True 
 B)False  False

Question 4

Business areas are external departments of an enterprise that are used to define areas of responsibility or to meet the internal requirements of a division.

Accepted Answer

A) True 
 B)False

Question 5

Reporting within financial accounting is divided into two categories: generating financial statements and displaying account information.

Accepted Answer

A) True 
 B)False

Question 6

An increase in revenue or liability results in a debit posting.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is a key process in financial accounting?

Accepted Answer

A) Sales order processing 
B) Accounts receivable accounting 
C) Credit management 
D) Income verification 
E) All of the above 
A) Sales order processing 
B) Accounts receivable accounting 
C) Credit management 
D) Income verification 
E) All of the above

Question 8

Parallel accounting consists of implementing multiple ledgers and using each ledger for different purposes.

Accepted Answer

A) True 
 B)False

Question 9

Financial accounting Fl)is concerned with recording the financial impacts of business processes as they are executed.

Accepted Answer

A) True 
 B)False

Question 10

A cost center:

Accepted Answer

A) Absorbs costs 
B) Can be associated with a department 
C) Is similar to a cost object 
D) Is associated with locations where costs are incurred 
A) Absorbs costs 
B) Can be associated with a department 
C) Is similar to a cost object 
D) Is associated with locations where costs are incurred

Question 11

What are the primary ways in which an asset can be acquired?

Accepted Answer

A) Internally by production 
B) Internally by inventory tracking 
C) Externally by vendor 
D) Externally without a vendor 
E) By asset liquidation 
A) Internally by production 
B) Internally by inventory tracking 
C) Externally by vendor 
D) Externally without a vendor 
E) By asset liquidation

Question 12

Which of the following statements concerning reconciliation accounts are true?

Accepted Answer

A) Reconciliation account for customers is accounts payable 
B) Reconciliation account for customers is accounts receivable 
C) Reconciliation account for vendors is accounts payable 
D) Reconciliation account for vendors is accounts receivable 
A) Reconciliation account for customers is accounts payable 
B) Reconciliation account for customers is accounts receivable 
C) Reconciliation account for vendors is accounts payable 
D) Reconciliation account for vendors is accounts receivable

Question 13

Which term is a general ledger account that consolidates data from a group of related sub-ledger accounts?

Accepted Answer

A) Subsidiary ledger 
B) Sub-ledger 
C) Reconciliation account 
D) Line item display 
E) None of the above 
A) Subsidiary ledger 
B) Sub-ledger 
C) Reconciliation account 
D) Line item display 
E) None of the above

Question 14

Which term represents the costs associated with creating and selling products and services?

Accepted Answer

A) Assets 
B) Expenses 
C) Liabilities 
D) Equity 
E) None of the above 
A) Assets 
B) Expenses 
C) Liabilities 
D) Equity 
E) None of the above

Question 15

Which process is used to manage money owed by customers for goods and services purchased from the company?

Accepted Answer

A) General ledger accounting 
B) Accounts receivable accounting 
C) Fixed asset accounting 
D) Bank ledger accounting 
E) All of the above 
A) General ledger accounting 
B) Accounts receivable accounting 
C) Fixed asset accounting 
D) Bank ledger accounting 
E) All of the above

Question 16

Account currency determines the currency in which all the transactions are recorded.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following records the impact of a transaction step on financial accounting?

Accepted Answer

A) Financial accounting document 
B) Parallel accounting document 
C) Sub-ledger 
D) Subsidiary ledger 
E) None of the above 
A) Financial accounting document 
B) Parallel accounting document 
C) Sub-ledger 
D) Subsidiary ledger 
E) None of the above

Question 18

Accounts payable accounting is concerned with vendors.

Accepted Answer

A) True 
 B)False

Question 19

Which type of asset has a non-physical form?

Accepted Answer

A) Master asset 
B) Tangible asset 
C) Informal asset 
D) Intangible asset 
E) None of the above 
A) Master asset 
B) Tangible asset 
C) Informal asset 
D) Intangible asset 
E) None of the above

Question 20

From which of the following can financial statements be generated?

Accepted Answer

A) Operative chart of accounts 
B) Country-specific chart of accounts 
C) Revenue accounts 
D) Assets 
E) Liability accounts 
A) Operative chart of accounts 
B) Country-specific chart of accounts 
C) Revenue accounts 
D) Assets 
E) Liability accounts

Which of the following does the balance sheet include?

The COA segment of the COA data includes which of the following?

Liabilities are what the company owns,such as cash,land,and buildings.

Business areas are external departments of an enterprise that are used to define areas of responsibility or to meet the internal requirements of a division.

Reporting within financial accounting is divided into two categories: generating financial statements and displaying account information.

An increase in revenue or liability results in a debit posting.

Which of the following is a key process in financial accounting?

Parallel accounting consists of implementing multiple ledgers and using each ledger for different purposes.

Financial accounting Fl)is concerned with recording the financial impacts of business processes as they are executed.

A cost center:

What are the primary ways in which an asset can be acquired?

Which of the following statements concerning reconciliation accounts are true?

Which term is a general ledger account that consolidates data from a group of related sub-ledger accounts?

Which term represents the costs associated with creating and selling products and services?

Which process is used to manage money owed by customers for goods and services purchased from the company?

Account currency determines the currency in which all the transactions are recorded.

Which of the following records the impact of a transaction step on financial accounting?

Accounts payable accounting is concerned with vendors.

Which type of asset has a non-physical form?

From which of the following can financial statements be generated?

A: Introduction to Business Processes

B: Introduction to Business Processes

C: Introduction to Business Processes

A: Introduction to Sap ERP

B: Introduction to Sap ERP

C: Introduction to Sap ERP

A: The Procurement Process

B: The Procurement Process

C: The Procurement Process

The Fulfillment Process

The Production Process

Inventory and Warehouse Management Processes

Material Planning Process

Integrated Process

Filters

Exam 3: Introduction to Accounting

Which of the following does the balance sheet include?

The COA segment of the COA data includes which of the following?

Liabilities are what the company owns,such as cash,land,and buildings.

Business areas are external departments of an enterprise that are used to define areas of responsibility or to meet the internal requirements of a division.

Reporting within financial accounting is divided into two categories: generating financial statements and displaying account information.

An increase in revenue or liability results in a debit posting.

Which of the following is a key process in financial accounting?

Parallel accounting consists of implementing multiple ledgers and using each ledger for different purposes.

Financial accounting Fl)is concerned with recording the financial impacts of business processes as they are executed.

A cost center:

What are the primary ways in which an asset can be acquired?

Which of the following statements concerning reconciliation accounts are true?

Which term is a general ledger account that consolidates data from a group of related sub-ledger accounts?

Which term represents the costs associated with creating and selling products and services?

Which process is used to manage money owed by customers for goods and services purchased from the company?

Account currency determines the currency in which all the transactions are recorded.

Which of the following records the impact of a transaction step on financial accounting?

Accounts payable accounting is concerned with vendors.

Which type of asset has a non-physical form?

From which of the following can financial statements be generated?

A: Introduction to Business Processes

B: Introduction to Business Processes

C: Introduction to Business Processes

A: Introduction to Sap ERP

B: Introduction to Sap ERP

C: Introduction to Sap ERP

A: The Procurement Process

B: The Procurement Process

C: The Procurement Process

The Fulfillment Process

The Production Process

Inventory and Warehouse Management Processes

Material Planning Process

Integrated Process

Filters