Fi - Cash & Bank (Post Session)
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Below Transaction cannot be posted through Cash Journal- FBCJ transaction
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Cash Payment
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Cash Receipt
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Cheque Receipt
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Cheque Payment
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None of the above
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About This Quiz
This post-session quiz covers key aspects of cash and bank management in finance, including transactions, automatic payment runs, and bank reconciliations using specific transaction codes.
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- 2.
In Automatic payment transaction identification field determine
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Date of Payment run
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Distinguish between several runs on same date
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Posting Date
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All the above
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None of the above
Correct Answer
A. Distinguish between several runs on same dateExplanation
The Automatic payment transaction identification field is used to distinguish between several runs on the same date. This means that if there are multiple payment runs happening on the same day, the field helps to identify and differentiate between them. It helps in maintaining clarity and organization in the payment processing system.Rate this question:
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- 3.
In Automatic payment run accounting impact is based on _ date.
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Run date
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Posting date
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Document date
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Next run date
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None of the above
Correct Answer
A. Posting dateExplanation
In an automatic payment run, the accounting impact is based on the posting date. The posting date is the date when the transaction is recorded in the general ledger. It determines the period in which the transaction will be accounted for and affects financial reporting. The run date is the date when the payment run is executed, the document date is the date when the transaction document is created, and the next run date refers to a future payment run. None of these dates have a direct impact on the accounting treatment of the transaction.Rate this question:
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- 4.
Check lots are maintained at _ level
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House bank
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Bank Key
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Account ID
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Both A&C
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None of the above
Correct Answer
A. Both A&CExplanation
The correct answer is "Both A&C" because in SAP, lots are maintained at the House bank level and also at the Bank Key level. The House bank represents the physical bank where the company holds its accounts, while the Bank Key represents the identification number assigned to each bank. Therefore, lots can be assigned to specific House banks and Bank Keys in order to track and manage transactions effectively. The other options, Account ID and None of the above, are not relevant to the maintenance of lots in SAP.Rate this question:
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- 5.
Bank reconciliation carried out by which Tcode
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FF61
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FF67
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FBL43
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FBL41N
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None of the above
Correct Answer
A. FF67Explanation
FF67 is the correct Tcode for carrying out bank reconciliation. This Tcode is used in SAP to perform the bank reconciliation process, which involves comparing the bank statement with the company's internal records to ensure that they match. By using FF67, users can enter and reconcile bank statement items, clear open items, and update the company's financial records accordingly. This Tcode helps in maintaining accurate and up-to-date financial information by reconciling the bank transactions.Rate this question:
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- 6.
Supplier ledger line items display from
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FBL1N
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FBL3N
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FBL43
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FBL41N
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None of the above
Correct Answer
A. FBL1NExplanation
FBL1N is the correct answer because it is a transaction code in SAP that is used to display the supplier ledger line items. It allows users to view detailed information about individual line items in the supplier's account, such as the document number, posting date, amount, and other relevant details. FBL3N, FBL43, and FBL41N are not transaction codes used for displaying supplier ledger line items, making them incorrect options.Rate this question:
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- 7.
Bank Key is mandatory for creating House Bank
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True
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False
Correct Answer
A. TrueExplanation
The bank key is a unique identifier that is required to create a house bank. This key helps to differentiate between different banks and is necessary for the system to recognize and process banking transactions correctly. Without a bank key, the system would not be able to identify the specific bank and therefore would not be able to create a house bank. Hence, it is true that the bank key is mandatory for creating a house bank.Rate this question:
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- 8.
In Automatic payment run can be carried out for specific Vendor/customer/ invoice.
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True
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False
Correct Answer
A. TrueExplanation
In an automatic payment run, it is possible to carry out the process for a specific vendor, customer, or invoice. This means that the system can be programmed to automatically initiate payments for selected vendors or customers based on predefined criteria, such as due dates or payment terms. By doing so, the payment process becomes more efficient and less manual intervention is required. Therefore, the given answer "True" is correct.Rate this question:
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- 9.
The checks can be voided both before and after they have printed.
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True
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False
Correct Answer
A. TrueExplanation
The statement is true because voiding a check can be done at any time, whether it is before the check has been printed or after it has been printed. Voiding a check essentially renders it invalid and unusable, regardless of its printing status.Rate this question:
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- 10.
We can use the same deleted cheque number from the system for another document
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True
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False
Correct Answer
A. TrueExplanation
This statement suggests that it is possible to reuse a deleted cheque number from the system for another document. This implies that the system does not permanently remove or invalidate deleted cheque numbers, allowing for their reuse.Rate this question:
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- 11.
Multiple cheque lots can be maintained for single House bank
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True
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False
Correct Answer
A. TrueExplanation
Multiple cheque lots can be maintained for a single House bank in order to facilitate better management and tracking of cheque transactions. This allows for easier identification and reconciliation of cheque payments, as well as providing a system for organizing and storing cheques. By maintaining multiple cheque lots, the House bank can assign different lots for different purposes or departments, ensuring efficient handling of cheque transactions.Rate this question:
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- 12.
Multiple bank statement can be processed in single run.
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True
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False
Correct Answer
A. FalseExplanation
Multiple bank statements cannot be processed in a single run. Each bank statement needs to be processed separately to ensure accurate and efficient processing of the transactions and account balances. Processing multiple statements together may lead to confusion and errors in reconciling the transactions and maintaining the accuracy of the financial records. Therefore, the statement is false.Rate this question:
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- 13.
Refund to customer is possible through cash & bank
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True
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False
Correct Answer
A. TrueExplanation
The statement is true because refunds to customers can be made through both cash and bank. When a customer requests a refund, it can be processed by giving them cash if they made the original payment in cash. Alternatively, if the payment was made through a bank transfer, credit card, or any other electronic method, the refund can be processed by transferring the funds back to the customer's bank account. Therefore, both cash and bank options are available for refunding customers.Rate this question:
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- 14.
For cheque printing payment method C is mandatory
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True
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False
Correct Answer
A. TrueExplanation
The statement suggests that in order to use the cheque printing payment method, option C is mandatory. This means that without selecting option C, the cheque printing payment method cannot be used. Therefore, the correct answer is true.Rate this question:
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- 15.
In SAP multiple GL accounts are maintained for one house bank
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True
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False
Correct Answer
A. TrueExplanation
In SAP, it is possible to maintain multiple GL (General Ledger) accounts for one house bank. This allows for better tracking and management of financial transactions related to the house bank. Each GL account can be associated with specific types of transactions or business processes, providing more detailed and accurate reporting. This feature enhances the flexibility and efficiency of financial management within the SAP system.Rate this question:
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Quiz Review Timeline (Updated): Mar 20, 2024 +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 20, 2024Quiz Edited by
ProProfs Editorial Team -
Mar 19, 2014Quiz Created by
Rajeshmishra
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