SAP Financial Accounting (SAP FI) Practice Exam

On what accounts can you calculate interest?

1. Fixed assets, retained earnings, loans

2. Customer, vendor, GL

3. Investments, liabilities, equity

4. Prepaid expenses, discounts, accounts receivable

The correct answer is: Customer, vendor, GL

The ability to calculate interest is fundamentally linked to accounts that involve financial transactions and credit relationships. In this context, customer accounts, vendor accounts, and general ledger (GL) accounts are the primary categories where interest calculations frequently occur. Customer accounts often involve loans or credit terms extended to clients, allowing for the application of interest on outstanding balances. Similarly, vendor accounts may also include financing arrangements where interest accrues on overdue payments or credit terms. General ledger accounts serve as the overarching records for all financial transactions within a company, and they may include interest-bearing accounts that require interest calculations for accurate financial reporting and analysis. The other options present accounts that are less directly tied to interest calculations. While fixed assets may incur depreciation rather than interest, and prepaid expenses are typically not interest-bearing, the selected answer focuses correctly on accounts actively involved in credit and financing activities. Thus, the emphasis on customer, vendor, and GL accounts highlights their relevance in calculating interest accurately within financial accounting frameworks.