Free PDF Quiz SAP - Accurate C_TS4FI_2023 - SAP Certified Associate - SAP S/4HANA Cloud Private Edition, Financial Accounting Exam Exercise

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SAP C_TS4FI_2023 Exam Syllabus Topics:

Topic	Details
Topic 1	Accounts Payable & Accounts Receivable: It covers reversing invoices and payments, blocking open invoices for payment, configuring the payment program, defining payment medium workbench settings, and handling debit balance checks.
Topic 2	General Ledger Accounting: Under this topic, the focus is on creating and maintaining general ledger accounts, bank master data, and house banks.
Topic 3	Organizational Assignments and Process Integration: It focuses on managing organizational units, currencies, validations, document types, and number ranges. It also involves utilizing reporting tools and configuring substitutions.
Topic 4	Financial Closing: This topic covers performing month and year-end closing tasks in Financial Accounting. It involves monitoring closing operations using the Financial Closing Cockpit, managing accruals, and handling posting periods.
Topic 5	Overview and Deployment of SAP S 4HANA: The topic gives an overview of SAP HANA architecture. Moreover, it describes the scope and deployment options of SAP S 4HANA.

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SAP Certified Associate - SAP S/4HANA Cloud Private Edition, Financial Accounting Sample Questions (Q64-Q69):

NEW QUESTION # 64
You are posting a general journal entry for your company code. After posting the entry, you notice the document number is in the wrong number.
After reversing the document, what do you need to change when reposting the document?

A. Document number
B. Assignment
C. Posting key
D. Document type

Answer: D

NEW QUESTION # 65
Which physical inventory methods are available in SAP S/4HANA? Note: There are 3 correct answers to this question.

A. Continuous inventory method
B. Periodic inventory method
C. Cycle counting method
D. Actual inventory method
E. Standard inventory method

Answer: A,B,C

Explanation:
In SAP S/4HANA, physical inventory methods are used to verify the accuracy of stock quantities recorded in the system by comparing them with actual physical counts. These methods help organizations maintain accurate inventory records and comply with financial and operational requirements. Let's analyze each option to determine the correct answers.
Explanation of Each Option:
B. Continuous inventory method
* Correct : The continuous inventory method allows organizations to perform physical inventory counts on an ongoing basis without interrupting daily operations. This method is particularly useful for high-value or critical items that require frequent verification. Inventory can be counted at any time, and discrepancies are resolved immediately.
* Reference : According to SAP documentation, the continuous inventory method supports regular and ad-hoc inventory checks, ensuring up-to-date stock accuracy.
C. Periodic inventory method
* Correct : The periodic inventory method involves performing a physical count of all inventory items at specific intervals (e.g., monthly, quarterly, or annually). This method is typically used for compliance with legal or financial reporting requirements. It ensures a comprehensive review of inventory balances at defined points in time.
* Reference : SAP documentation highlights that the periodic inventory method is widely used for year- end closing or regulatory audits.
E. Cycle counting method
* Correct : The cycle counting method divides inventory into categories (e.g., based on value or turnover rate) and schedules counts for different categories throughout the year. This method minimizes disruption to operations and ensures that all items are counted at least once annually. It is commonly used in warehouses with large inventories.
* Reference : SAP supports cycle counting as an efficient way to maintain inventory accuracy without requiring a full shutdown for physical counts.
A. Standard inventory method
* Incorrect : The term "standard inventory method" is not a recognized physical inventory method in SAP S/4HANA. Instead, SAP provides specific methods such as continuous, periodic, and cycle counting. This option is not valid.
* Reference : SAP does not define a "standard inventory method" as part of its inventory management processes.
D. Actual inventory method
* Incorrect : The term "actual inventory method" is not a recognized physical inventory method in SAP S/4HANA. While "actual inventory" refers to the physical stock on hand, it does not describe a specific method for conducting physical counts. This option is not valid.
* Reference : SAP focuses on specific inventory methods like continuous, periodic, and cycle counting rather than generic terms like "actual inventory method." Key References to SAP S/4HANA Documentation:
* SAP S/4HANA Inventory Management : Explains the available physical inventory methods, including continuous, periodic, and cycle counting.
* SAP Help Portal - Physical Inventory Process : Provides detailed guidance on configuring and executing physical inventory methods in SAP S/4HANA.
* Cycle Counting in SAP S/4HANA : Describes how cycle counting is used to maintain inventory accuracy without disrupting operations.
* Periodic Inventory Process : Highlights the use of periodic inventory for comprehensive stock verification at specific intervals.

NEW QUESTION # 66
In which scenarios is the technical clearing account posted? Note: There are 2 correct answers to this question.

A. Settlement of an investment order to an asset under construction
B. Valuated goods receipt on a purchase order with an asset as account assignment
C. Direct asset acquisition posting with a vendor invoice (not linked to a purchase order)
D. Asset transfer posting between asset classes

Answer: B,D

Explanation:
Comprehensive Detailed Explanation with all SAP S/4HANA Cloud References In SAP S/4HANA, the technical clearing account is used as an intermediary account during specific financial transactions to ensure proper reconciliation and accounting. It temporarily holds values during complex postings before they are transferred to their final accounts. Let's analyze each option to determine in which scenarios the technical clearing account is posted.
Explanation of Each Option:
A. Asset transfer posting between asset classes
* Correct : When transferring assets between different asset classes (e.g., from machinery to buildings), the system uses the technical clearing account to temporarily hold the value of the asset being transferred. This ensures that the transaction is balanced and reconciled before the value is posted to the new asset class.
* Reference : According to SAP documentation, asset transfers between asset classes require the use of a technical clearing account to handle the intermediate step in the transfer process.
D. Valuated goods receipt on a purchase order with an asset as account assignment
* Correct : When performing a valuated goods receipt for a purchase order where the account assignment is an asset, the system posts the invoice amount to the technical clearing account. This ensures that the value is temporarily held until the final settlement to the asset account occurs.
* Reference : In SAP S/4HANA, valuated goods receipts with asset account assignments use the technical clearing account to manage the transition between procurement and asset capitalization.
B. Settlement of an investment order to an asset under construction
* Incorrect : During the settlement of an investment order to an asset under construction (AuC), the system directly posts the costs to the AuC without using the technical clearing account. The settlement process does not require an intermediary account because the costs are directly allocated to the asset.
* Reference : Settlement of investment orders to AuC is managed through direct postings to the asset account, bypassing the need for a technical clearing account.
C. Direct asset acquisition posting with a vendor invoice (not linked to a purchase order)
* Incorrect : For direct asset acquisitions without a purchase order, the system directly posts the invoice amount to the asset account. Since there is no intermediate step requiring reconciliation, the technical clearing account is not used.
* Reference : Direct postings to assets do not involve the technical clearing account unless there is a specific procurement or valuation process (e.g., valuated goods receipts).
Key References to SAP S/4HANA Documentation:
* SAP S/4HANA Asset Accounting (FI-AA) : Explains the role of the technical clearing account in asset-related transactions, including asset transfers and valuated goods receipts.
* SAP Help Portal - Technical Clearing Account : Provides detailed guidance on when and how the technical clearing account is used in SAP S/4HANA.
* Goods Receipt Process with Asset Account Assignment : Highlights the use of the technical clearing account during valuated goods receipts for assets.
* Investment Order Settlement : Describes the direct settlement process for investment orders to assets under construction.

NEW QUESTION # 67
What is the prerequisite for a G/L account to switch off open item management for it?

A. It has been blocked against postings.
B. It has a zero balance.
C. It has not been posted to.
D. It has no open items.

Answer: D

NEW QUESTION # 68
You have cleared a customer open item but want to undo this action.
What are the available options? Note: There are 2 correct answers to this question.

A. Reset the clearing document
B. Repost the clearing document
C. Reverse the clearing document
D. Reset and reverse the clearing document

Answer: C,D

NEW QUESTION # 69
......

Getting the SAP Certified Associate - SAP S/4HANA Cloud Private Edition, Financial Accounting (C_TS4FI_2023) certification is the way to go if you're planning to get into SAP or want to start earning money quickly. Success in the SAP Certified Associate - SAP S/4HANA Cloud Private Edition, Financial Accounting (C_TS4FI_2023) exam of this credential plays an essential role in the validation of your skills so that you can crack an interview or get a promotion in an SAP company. Many people are attempting the SAP Certified Associate - SAP S/4HANA Cloud Private Edition, Financial Accounting (C_TS4FI_2023) test nowadays because its importance is growing rapidly.

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FREE PDF QUIZ SAP - ACCURATE C_TS4FI_2023 - SAP CERTIFIED ASSOCIATE - SAP S/4HANA CLOUD PRIVATE EDITION, FINANCIAL ACCOUNTING EXAM EXERCISE

Free PDF Quiz SAP - Accurate C_TS4FI_2023 - SAP Certified Associate - SAP S/4HANA Cloud Private Edition, Financial Accounting Exam Exercise