SAP Certified Application Associate - SAP S/4HANA for Financial Accounting Associates (SAP S/4HANA 2021) (C_TS4FI_2021) Free Practice Test

Question 1

Which of the following statements are valid for financial document number ranges?
Note: There are 3 correct answers to this questions.

A. All financial document number ranges can contain numbers and/or letters

B. Financial document number ranges defined at client level should NOT overlap

C. Financial document number ranges are defined at company code level

D. The same financial document number range can be assigned to several document type

E. Financial document number ranges must be defined for the year in which they are used

Correct Answer: B,C,D

Question 2

Which steps are required to create a substitution in Financial Accounting?
Note: There are 3 correct answers to this questions.

A. Specify an authorization group.

B. Assign the substitution rule to the controlling area.

C. Select Activation Level 2.

D. Define the substitution rule with its different steps using the formula editor.

E. Select the correct call-up point.

Correct Answer: A,C,D

Question 3

What do you need to do to configure a new exchange rate type in SAP S/4HANA?
Note: There are 2 correct answers to this questions.

A. Maintain exchange rates daily.

B. Specify a purpose for the exchange rate type.

C. Set up the relationship between currencies using translation ratios.

D. Specify the company code currency as the base currency.

Correct Answer: B,C

Question 4

Which elements define the integration of asset acquisitions with the general ledger?
Note: There are 2 correct answers to this questions.

A. Depreciation Keys

B. Depreciation Area

C. Valuation Area

D. Asset Class

Correct Answer: B,D

Question 5

You want to edit a dunning proposal.
Which actions can you perform?
Note: There are 3 correct answers to this questions.

A. Raise the dunning level of an item.

B. Lower the dunning level of an item.

C. Change a document.

D. Block a I ine item.

E. Block an account.

Correct Answer: B,D,E

Question 6

How does the system perform the normal reversal of a journal entry?

A. It creates an inverse posting by increasing the transaction figures.

B. It creates an inverse posting by resenting the transaction figures for cleared documents.

C. It creates an inverse posting by decreasing the transaction figures.

D. It creates an inverse posting by resenting the transaction figures.

Correct Answer: A

Question 7

The country that your company code operates in has defined a new VAT tax rate percentage of 15%, which will become effective at the star of the next fiscal year. You create the new VAT codes 05 and 15 to cover this requirement.
How can you ensure that users use the new tax codes when entering tax relevant documents starting next year?

A. Enter the new tax codes as default for users who have authorization to post general ledger transactions after balance carry forward is done

B. Create a validation that issues an error when the user uses a deprecated VAT code when entering documents with posting data in the new year

C. Enter the appropriate new VAT code in the tax category field of the relevant expense and revenue G/L accounts after balance carry forward is done

D. Create a substitution that changes the deprecated VAT code when relevant new one when entering documents with posting data in the new year

Correct Answer: B

Question 8

Which of the following are valid settlement receives, when you perform settlement for an asset under construction, on a line item basis?
Note: There are 2 correct answers to this questions.

A. Fixed asset

B. Functional area

C. Profit center

D. Cost center

Correct Answer: A,D

Question 9

In your system, you currently perform manual outgoing payments and you want to use the automatic payment program. Which new settings must you maintain as part of the configuration of the automatic payment program?
Note: There are 2 correct answers to this questions.

A. Bank determination

B. Paying company codes

C. Payment run

D. Payment terms

Correct Answer: A,B

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SAP Certified Application Associate - SAP S/4HANA for Financial Accounting Associates (SAP S/4HANA 2021) (C_TS4FI_2021) Free Practice Test