SAP C_S4FCF_2023 Exam Practice Test Instant Access

Question 1

You must avoid possible double payments for historical open items.

Which options do you have?

Note: There are 2 correct answers to this question.

ADelete all relevant open items.

BRemove the payment method in Central Finance.

CMark open items as technically cleared in a source system.

DSet a payment block in Central Finance.

Answer : C, D

Detailed Explanation: To avoid double payments, you can either mark open items as technically cleared in the source system or set a payment block in Central Finance. These actions prevent historical open items from being accidentally processed twice during payment runs.

Question 2

Which of the following are benefits of using Dispute Management with Central Finance?

Note: There are 2 correct answers to this question.

AIt enables cross-department dispute resolution.

BIt calculates credit limits.

CIt organizes all information and documents related to a dispute case page.

DIt assigns risk categories.

Answer : A, C

Detailed Explanation: Dispute Management in Central Finance allows for cross-department dispute resolution and organizes all information and documents related to a dispute case. This streamlines the resolution process and improves collaboration across departments.

Question 3

Which transactions can you use to drill back to the source document?

Note: There are 2 correct answers to this question.

ACO document display (KSB5)

BFI document display (FB03)

CChange document display (FSCD)

DSLT monitor (LTRC)

Answer : A, B

Detailed Explanation: In Central Finance, you can use CO document display (KSB5) and FI document display (FB03) to drill back to the original source documents, enabling detailed analysis of financial data.

Question 4

What are some of the advantages of using intercompany reconciliations in Central Finance?

Note: There are 2 correct answers to this question.

AYou can manage intercompany reconciliation using alerts and analytics.

BYou can assign documents based on predefined customized rules.

CYou can eliminate long-running batch jobs for loading the data into Central Finance.

DYou can standardize payment processes.

Answer : A, C

Detailed Explanation: Using alerts and analytics in Central Finance simplifies managing intercompany reconciliations, making it easier to resolve discrepancies in real time. Additionally, eliminating long-running batch jobs improves efficiency, as the reconciliation data is directly available without complex processing steps.

Question 5

Which service or application does Master Data Governance (MDG) provide to maintain key mappings one by one?

AWeb Dynpro application

BCentral Finance replication

CCost object mapping

DSAP GUI transaction

Answer : A

Detailed Explanation: The Web Dynpro application provided by Master Data Governance (MDG) is the standard interface for maintaining key mappings one by one, allowing users to manually manage individual mappings.

Question 6

What are the features of Shared Services Framework with Central Finance?

Note: There are 2 correct answers to this question.

AIt allows a comparative harmonized view for corporate reporting.

BIt is the service management platform for global business service organizations.

CIt simplifies consolidations.

DIt centralizes all service-relevant transactional activities.

Answer : B, D

Detailed Explanation: The Shared Services Framework in Central Finance acts as a service management platform for global business service organizations and centralizes all service-relevant transactional activities, ensuring streamlined processes and efficiency across services.

Question 7

You plan to use Central Finance system for Collections Management Intercompany Reconciliation. Which prerequisites must be met?

Note: There are 2 correct answers to this question.

ACentral payments must be activated.

BPayment terms must be replicated.

CSource systems Central Finance must use business partners.

DReplication of open items must be used.

Answer : A, D

Detailed Explanation: To use Collections Management and Intercompany Reconciliation in Central Finance, central payments must be activated, enabling centralized financial processing. Additionally, replication of open items is required to ensure that all outstanding transactions are visible and manageable within the Central Finance system.

SAP C_S4FCF_2023 SAP Certified Associate - SAP S/4HANA Cloud Private Edition, Central Finance Exam Practice Test