SAP Financial Accounting (SAP FI) Practice Exam

Which statuses can a line item have in SAP?

1. Open, cleared, and booked

2. Open, clear, and parked

3. Open, closed, and posted

4. Active, inactive, and parked

The correct answer is: Open, clear, and parked

In SAP, line items in financial accounting can indeed have various statuses that reflect their current state in financial processes. The answer indicating "open, clear, and parked" is correct as it highlights the important statuses a line item can possess. The “open” status indicates that the line item is active and has not yet been settled or cleared, meaning that it is still part of the accounting workload. The "clear" status shows that the line item has been settled, usually through payment or offsetting entries in the financial records. Finally, the "parked" status refers to transactions that have been entered but not yet fully processed or posted; this allows for review and modifications before the finalization of accounting entries. These statuses are essential for tracking financial transactions and ensuring accurate financial reporting and management. Understanding these statuses helps accountants and financial professionals manage their workflows effectively within SAP, ensuring that all entries are accounted for and appropriately processed. Other options include combinations of statuses that do not accurately reflect the line items utilized in SAP's financial transactions. This understanding is crucial for effective financial management within SAP, enabling users to keep track of multiple transactions and their statuses throughout the financial processing cycle.