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Oracle Financials Cloud: General Ledger 2016 Implementation Essentials


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Question No : 1

You want to specify Intercompany System Options.
Which three factors should you consider?
A. Whether to enforce an enterprise-wide currency or allow in intercompany transactions in local currencies
B. Whether to allow receivers to reject intercompany transactions
C. Automatic or manual batch numbering and the minimum transaction amount
D. Automatic or manual batch numbering and the maximum transaction amount
E. The approvers who will approve intercompany transactions
Answer: A,B,D

Question No : 2

You want to be notified of anomalies in certain account balances in real time. What is the rnost efficient way to do this?
A. Perform an account analysis online.
B. Open a Smart View file saved on your desktop.
C. Create an Account Group using Account Monitor.
D. Use Account Inspector.
Answer: A

Question No : 3

Your customer operates three shared services that perform accounting functions across 50 countries.
What feature allows them to share setup data, such as Payment Terms, across Business Units?
A. Reference Data Sets
B. Business Units functions
C. None. Setup data is partitioned by Business Unit and must be defined separately per Business Unit.
D. Data Access Sets
Answer: B

Question No : 4

All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting.
What does Oracle consider the best practice approach to performing consolidations?
A. Use Oracle Hyperion Financial Management for this type of complex consolidation.
B. Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to theparent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
C. Use General Ledger¡¯s Financial Reporting functionality to produce consolidated reports bybalancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment.
D. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar,currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then create a ledger set across all ledgers and report on the ledger set.
Answer: A

Question No : 5

What are the two benefits of having the Essbase cube embedded in Fusion General Ledger?
A. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis.
B. You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously.
C. You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts.
D. Posting performance is much faster.
E. Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules.
Answer: B,D

Question No : 6

You are defining intercompany balancing rules that are applied to a specific source and category, such as payables and invoices, or a specific intercompany transaction type, such as Intercompany Sales.
Which two statements are correct?
A. You must define rules for every combination of specific categories and sources. Otherwise, theintercompany balancing will not work.
B. You can create a rule for all sources and categories by selecting the source "Other" and the category "Other."
C. If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value.
D. Set up a chart of accounts rule for every chart of accounts structure you have in order to ensurethat Intercompany Balancing will always find a rule to use to generate balancing accounts.
Answer: A,C

Question No : 7

You want to define a tree or hierarchy for use in reports and allocations.
What three aspects should you remember when creating the tree?
A. You need to flatten the rows to be able to use drilldown in Smart View and you must publishtree to view the hierarchy in Essbase cubes.
B. You must flatten the columns and publish the tree to view the hierarchy in Essbase cubes.
C. The tree should have at least two tree versions to reduce report and allocation maintenance.
D. You only need to flatten the columns if you plan to use the hierarchy in Oracle Transactional Business Intelligence (OTBI).
E. It is fine to have the same child value roll up to two or more different parent values.
Answer: B,C,E

Question No : 8

You are implementing Financials Cloud and are using spreadsheets to load Legal Entities, Business Units, and Account Hierarchies.
Which three setup objects can be loaded via a spreadsheet from Functional Setup Manager?
A. complete Accounting Configuration
B. Suppliers and Customers
C. Banks, Bank Accounts, and Branches
D. chart of account values, accounting calendar, and ledger
E. setup data for Receivables and Payables product.
Answer: B,C,D

Question No : 9

Which reporting tool is best suited for submitting high-volume transactional reports, such as invoice Registers or Trial Balance reports, that can be configured to extract the data in Rich Text Format or XML?
A. Financial Reporting Center
B. Oracle Transactional Business Intelligence (OTBI)
C. Intelligence Publisher (BI Publish.
D. Smart View
E. Oracle Business Intelligence Applications (OBIA)
Answer: B

Question No : 10

You entered a journal and the client is asking for the following information:
-The current account balance
-What the future account balance will be if the Journal is approved and posted
How will you get this information?
A. View the Projected Balance region in the Create Journals page.
B. Run a Trial Balance before and after posting.
C. Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances
D. Query the account balance online.
Answer: C

Question No : 11

In which two ways can your users customize the Dashboards and Work Areas to suit their individual working styles?
A. They can format each table by hiding and showing columns, moving columns, and resizing columns.
B. They can use Personalization to move and remove regions from those pages.
C. Users have very little control customizing their Dashboards and Work Areas; they can only resize columns.
D. They can have the System Administration customize pages for them using Page Composer.
Answer: C

Question No : 12

Your customer has enabled budgetary and encumbrance controls at the requisition level. You have a purchase order for $1,000 USD, which is fully reserved and has one invoice for $600 USD. When the purchase order is matched through the final match process, the purchase order is closed for further invoicing.
What happens to the remaining $400 USD?
A. Invoice type will have less funds available by $400 USD.
B. Manual encumbrance journal needs to be entered In General Ledger to release the budget amount of $400 USD.
C. Only obligation type will have $400 USD funds available.
D. $400 USD will be added back to available funds
E. $400USD will be expired and not available for use.
Answer: A

Question No : 13

You want to define an allocation rule where segment values are constants for rules and formulas. What should you do?
A. Specify Run Time Prompts (RTP).
B. Always use the Outer Point of View (POV).
C. Never use the Outer Point of View (POV).
D. Only specify segment values in formulas.
Answer: D

Question No : 14

While troubleshooting the encumbrance entries created for the requisition for your business unit, you noticed that only a few events are triggering the encumbrance journals when you submit he create accounting program.
What are the two events?
A. Funds check
B. Requisition approved
C. Requisition rejected by the buyer
D. Submit the requisition for approval
E. Checkout and Save the requisition
F. Create change request on the requisition after submitting requisition for approval
Answer: B,F
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