MANAGERIAL AND FINANCIAL ACCOUNTING - CO PAPER: 3

1.what is the sequence to be followed for creation of a primary cost element

1. cost element to be created before G/L account
2. G/L account to be created before cost element
3. Both can be created in parallel

2. which CO master data has a direct link with FI master data

1. SKF
2. Activity type
3. Primary cost element
4. Secondary cost element
5. Cost center

3. which of the following CO master data requires a cost element assignment during creation

1. SKF
2. Activity type
3. Cost center
4. None of the above

4. what is the difference between assessment and distribution

1. assessment is done periodically and distribution whenever required
2. assessment uses secondary cost elements for distribution while distribution uses primary cost elements
3. both mean the same
4. none of the above

5. which cost allocation method uses primary cost elements

1. assessment
2. distribution
3. SKF
4. None of the above

6. CO tool-'period lock' can be used to block transactions

1. at controlling area, fiscal year, version, plan/actual level only
2. at controlling area, fiscal year and version level only
3. at controlling area, fiscal year level only
4. at a controlling area level only
5. at all the above levels

7. what are tracing factors used

1. splitting
2. assessment cycles
3. plan reconciliation
4. activity price calculation

8. which of the following is not a part of period end closing for actuals in cost center accounting

1. distribution
2. assessment
3. splitting
4. reposting line items
5. activity price calculation

9. which cost center accounting tool is essential for cost center accounting period end closing

1. archiving
2. summarization
3. period lock
4. all of the above
5. none of the above

10. which sub module of CO is used for 'responsibility accounting'

1. cost center accounting
2. product costing
3. profitability analysis
4. all the above
5. none of the above

11. can a revenue cost element be posted to a cost center

1. real posting can be made
2. statistical postings can be made
3. no posting can be made

12. can you manually post to a secondary cost element created for internal settlement

1. yes
2. no
3. occasionally

13. can many cost centers produce the same activity

1. yes
2. no
3. occasionally

14. can a cost center produce many activities

1. yes
2. no
3. occasionally

15. is there a difference between planning and budgeting for cost centers

1. no, both are the same
2. yes, they are two different processes

16. what is the relationship between controlling and company code

1. one to many
2. one to one
3. many to many

17. how many hierarchies can a cost center belong to

1. only one
2. more than one
3. none

18. cost center needs to be attached to

1. standard hierarchy
2. alternate hierarchy
3. none of the above

19. which functionality is used to revise a CO plan using change percentages

1. copy planning
2. plan reconciliation
3. periodic reposting
4. revaluation
5. none of the above

20. for which types of cost can you plan both variable and fixed costs

1. activity dependent primary and secondary costs
2. activity independent primary and secondary costs
3. none of the above