SAP FI Questions

special asset class: LVA

A.set up max amount check in dep areas

B.for each type of management you have to set up seperate aseet class

C.for collective management you have to enter a base unit of quantity in asset class

D.can be managed using individual management or collective management

Choose the correct statement regarding the asset class.

A. Asset classes are used as template for the asset master records and therefore necessary to decide which default values are to be stored in the asset classes to ensure the uniformity of the assets.

B. Asset classes are the most importnant means of structuring the fixed assets according to the requirements of the enterprise.

C.Asset class defination applies to all company codes in a client.

D.Asset class consits of  master data and valuation sections.

Differnt types of Depreciation areas.

A.Book depreciation - 01
B.Income tax depreciation -20
C.Revaluation -10
D.Derived Depriciation - 50

If there is no gain or loss on the asset retirement, the sales revenue equals to the net book value of the asset.

One of the main tasks of asset accounting is to represent the asset portfolio in the detailed form of an asset history sheet.

Dfferent Valuation approaches are used to valuate the asset Portfolio and transactions in Asset accounting. Choose the correct Example from the list given below.

A.Financial statement according to local requirement.

B.Balance sheets for tax purposes

C.Internal accounting (Cost accounting)

D.Parellel financial reporting, for example, creating consolidated balance sheet according to IAS, US GAAP and so on.

Screen layout rules in the asset master applies to the valuation fields in the depreciation area.

 when you create asset master records this data is automatically adopted from the asset class you specify