SAP FICO Quiz – SAP FICO MCQ Online Test

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SAP FICO is the best configuration for the internal as well as for the external accounting processes. Meanwhile, you can go through the page that contains the overview of the content as well as the details of the SAP FICO Online Test. So, please try to make use of the given SAP FICO Quiz. Also, one can attempt this test in free of cost. Furthermore, you are benefited with this SAP FICO Multiple Choice Questions. Move forward to this section and perform the SAP FICO Quiz well. The contenders can improve their skills more by practicing this SAP FICO MCQ.

Details About SAP FICO Quiz

So, in this sections candidates can find the lot more information regarding the SAP FICO Quiz. It gives you the details about the test and also the number of questions and so on. So, keep them in mind and move further.

Instructions Of SAP FICO Quiz

Do follow every direction stated below. Hence, you will be perfect in the guidelines and can move straight forward.

• For the test, there is no time limit.
• So try to check all the questions answered are not.
• Each question carries one mark
• No negative marking is there for SAP FICO Questions

SAP FICO Online Test

Which transaction code is used to create a vendor master record in SAP FICO?
a) FK01
b) FD01
c) FI01
d) FV01
Answer: a) FK01
Explanation: Transaction code FK01 is used to create a vendor master record in SAP FICO. The options b), c), and d) are transaction codes used for different purposes in SAP, but not for creating a vendor master record.

What is the purpose of the “posting key” in SAP FICO?
a) It determines the type of document to be posted.
b) It determines the type of account to be posted.
c) It determines the currency in which the document is posted.
d) It determines the posting period for the document.
Answer: b) It determines the type of account to be posted.
Explanation: Posting key in SAP FICO is a two-digit code that determines the type of account to be posted, such as a vendor account, customer account, or general ledger account. Options a), c), and d) are not the correct purpose of the posting key.

In SAP FICO, what is the purpose of a “chart of accounts”?
a) It defines the currency in which the financial statements are prepared.
b) It defines the structure and grouping of general ledger accounts.
c) It determines the fiscal year variant for posting.
d) It determines the document types for posting.
Answer: b) It defines the structure and grouping of general ledger accounts.
Explanation: A chart of accounts in SAP FICO is a list of all general ledger accounts used by a company, and it defines the structure and grouping of these accounts. Options a), c), and d) are not the correct purpose of a chart of accounts.

Which module in SAP FICO is used for managing accounts receivable and accounts payable?
a) FI (Financial Accounting)
b) CO (Controlling)
c) AA (Asset Accounting)
d) TR (Treasury)
Answer: a) FI (Financial Accounting)
Explanation: The FI (Financial Accounting) module in SAP FICO is used for managing accounts receivable and accounts payable. Options b), c), and d) are different modules in SAP FICO used for other purposes.

Which document type is used to post outgoing payments in SAP FICO?
a) DZ
b) KR
c) SA
d) KZ
Answer: d) KZ
Explanation: Document type KZ is used to post outgoing payments in SAP FICO. Options a), b), and c) are different document types used for other purposes.

What is the purpose of a “fiscal year variant” in SAP FICO?
a) It determines the type of accounts that can be posted.
b) It determines the posting periods for a fiscal year.
c) It determines the currency in which the financial statements are prepared.
d) It determines the document types for posting.
Answer: b) It determines the posting periods for a fiscal year.
Explanation: A fiscal year variant in SAP FICO is used to define the posting periods for a fiscal year, such as monthly or quarterly posting periods. Options a), c), and d) are not the correct purpose of a fiscal year variant.

Which module in SAP FICO is used for managing internal orders and profitability analysis?
a) FI (Financial Accounting)
b) CO (Controlling)
c) AA (Asset Accounting)
d) TR (Treasury)
Answer: b) CO (Controlling)
Explanation: The CO (Controlling) module in SAP FICO is used for managing internal orders and profitability analysis. Options a), c), and d) are different modules in SAP FICO used for other purposes.

Which type of depreciation method is used to calculate depreciation based on the useful life of an asset in SAP FICO?
a) Straight-line method
b) Declining balance method
c) Units of production method
d) Sum-of-the-years’-digits method
Answer: a) Straight-line method
Explanation: The straight-line method is used to calculate depreciation based on the useful life of an asset in SAP FICO. Options b), c), and d) are different methods used for calculating depreciation based on other criteria.

What is the purpose of a “document type” in SAP FICO?
a) It determines the type of accounts that can be posted.
b) It determines the posting periods for a fiscal year.
c) It determines the currency in which the financial statements are prepared.
d) It determines the type of document to be posted.
Answer: d) It determines the type of document to be posted.
Explanation: Document type in SAP FICO is a two-digit code that determines the type of document to be posted, such as a general ledger document, a vendor document, or a customer document. Options a), b), and c) are not the correct purpose of a document type.

Which module in SAP FICO is used for managing bank accounts, cash management, and risk management?
a) FI (Financial Accounting)
b) CO (Controlling)
c) AA (Asset Accounting)
d) TR (Treasury)
Answer: d) TR (Treasury)
Explanation: The TR (Treasury) module in SAP FICO is used for managing bank accounts, cash management, and risk management. Options a), b), and c) are different modules in SAP FICO used for other purposes.

What is the purpose of a “valuation area” in SAP FICO?
a) It determines the type of accounts that can be posted.
b) It determines the posting periods for a fiscal year.
c) It determines the currency in which the financial statements are prepared.
d) It determines the valuation level for materials and inventory.
Answer: d) It determines the valuation level for materials and inventory.
Explanation: A valuation area in SAP FICO is used to determine the valuation level for materials and inventory, such as plant level, company code level, or group level. Options a), b), and c) are not the correct purpose of a valuation area.

Which module in SAP FICO is used for managing fixed assets and depreciation?
a) FI (Financial Accounting)
b) CO (Controlling)
c) AA (Asset Accounting)
d) TR (Treasury)
Answer: c) AA (Asset Accounting)
Explanation: The AA (Asset Accounting) module in SAP FICO is used for managing fixed assets and depreciation. Options a), b), and d) are different modules in SAP FICO used for other purposes.

Which transaction code is used to post a journal entry in SAP FICO?
a) FV50
b) F-02
c) FK10N
d) F-44
Answer: b) F-02
Explanation: Transaction code F-02 is used to post a journal entry in SAP FICO. Options a), c), and d) are transaction codes used for different purposes in SAP, but not for posting a journal entry.

What is the purpose of a “company code” in SAP FICO?
a) It determines the type of accounts that can be posted.
b) It determines the posting periods for a fiscal year.
c) It determines the currency in which the financial statements are prepared.
d) It determines the legal entity for which financial accounting is done.
Explanation: A company code in SAP FICO is used to represent a legal entity for which financial accounting is done. It is an independent organizational unit that represents a separate legal entity with its own chart of accounts, fiscal year, and currency settings. Options a), b), and c) are not the correct purpose of a company code.

Which module in SAP FICO is used for managing profitability analysis and cost controlling?
a) FI (Financial Accounting)
b) CO (Controlling)
c) AA (Asset Accounting)
d) TR (Treasury)
Answer: b) CO (Controlling)
Explanation: The CO (Controlling) module in SAP FICO is used for managing profitability analysis and cost controlling. Options a), c), and d) are different modules in SAP FICO used for other purposes.

What is the purpose of a “chart of accounts” in SAP FICO?
a) It determines the type of accounts that can be posted.
b) It determines the posting periods for a fiscal year.
c) It determines the currency in which the financial statements are prepared.
d) It defines the structure and layout of general ledger accounts.
Answer: d) It defines the structure and layout of general ledger accounts.
Explanation: A chart of accounts in SAP FICO is used to define the structure and layout of general ledger accounts. It determines the grouping and numbering of accounts used in the general ledger. Options a), b), and c) are not the correct purpose of a chart of accounts.

Which transaction code is used to post an outgoing payment to a vendor in SAP FICO?
a) F110
b) F-53
c) F-48
d) FB05
Answer: b) F-53
Explanation: Transaction code F-53 is used to post an outgoing payment to a vendor in SAP FICO. Options a), c), and d) are transaction codes used for different purposes in SAP, but not for posting an outgoing payment to a vendor.

What is the purpose of a “fiscal year variant” in SAP FICO?
a) It determines the type of accounts that can be posted.
b) It determines the posting periods for a fiscal year.
c) It determines the currency in which the financial statements are prepared.
d) It defines the structure and layout of financial statements.
Answer: b) It determines the posting periods for a fiscal year.
Explanation: A fiscal year variant in SAP FICO is used to determine the posting periods for a fiscal year. It defines the number of posting periods, the special periods, and the period end dates. Options a), c), and d) are not the correct purpose of a fiscal year variant.

Which module in SAP FICO is used for managing accounts payable and accounts receivable?
a) FI (Financial Accounting)
b) CO (Controlling)
c) AA (Asset Accounting)
d) TR (Treasury)
Answer: a) FI (Financial Accounting)
Explanation: The FI (Financial Accounting) module in SAP FICO is used for managing accounts payable and accounts receivable. Options b), c), and d) are different modules in SAP FICO used for other purposes.

What is the purpose of a “credit control area” in SAP FICO?
a) It determines the type of accounts that can be posted.
b) It determines the posting periods for a fiscal year.
c) It determines the currency in which the financial statements are prepared.
d) It controls the credit limits for customers.
Answer: d) It controls the credit limits for customers.
Explanation: A credit control area in SAP FICO is used to control the credit limits for customers. It defines credit limits for customers based on their creditworthiness and monitors credit exposures.

About SAP FICO

This SAP FICO supports coordination, monitoring and the optimization of all processes in the organization. Moreover, the SAP CO includes the managing process as well as the configuring the master data that covers the cost as well as the profit centers, the internal orders, and other cost elements and for the functional areas.

Meanwhile, know about the representation of the SAP FICO. So it tells you all about the FI refers to Financial Accounting and additionally, the CO refers to Controlling. Also, this SAP FICO is one of the critical modules of the SAP ERP. Moreover, this SAP FICO helps to analyze the financial conditions of an organization and also the marketing purpose. It can also integrate with the other SAP modules. Controlling is another part of the SAP module that offers an organization. Aspirants if you want to know much more details about SAP FICO Quiz scroll down to see.

Benefits Of Practicing The SAP FICO Quiz

• Aspirants can crack the interview easily by more practicing the test.
• Improve time management and coding skills.
• Also, they can find the improvement in the logical ability.
• This test guides you the simple way to get out from any tricky questions.
• Moreover, you can also find the appropriate explanation for the questions.
• And, every individual can solve the complex questions even

How To Check SAP FICO Online Test Results

Within the completion of the test, every individual wants to know their Results. So, after the students submit the answers, we give the SAP FICO Results based on their performance. Also, they can rectify their mistakes and can even compare their answers with the explanation of the question that you unaware.

Furthermore, for any information related to quizzes, keep an eye on our Freshers Now site.