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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:
1. While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created.
Which two options explain that?
A) The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set.
B) The Account Rule's chartof accounts have no account values assigned
C) The Account Rule's conditions are not defined.
D) The Account Rule is defined with a different chart of accounts from the Journal Entry Rule Set.
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) Use Account Inspector.
C) Open a Smart View file saved on your desktop.
D) Create an Account Group using Account Monitor.
3. You want to specify Intercompany System Options.
Which three factors should you consider?
A) The approvers who will approve intercompany transactions
B) Whether to enforce an enterprise-wide currency or allow in intercompany transactions in local currencies
C) Automatic or manual batch numbering and the minimum transaction amount
D) Automatic or manual batch numbering and the maximum transaction amount
E) Whether to allow receivers to reject intercompany transactions
4. You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results.
What does Oracle consider best practice when this occurs?
A) Enter another adjusting journal entry in the currency to true up the balances.
B) Translate only the adjusting journal entry.
C) Rerun Revaluation and then rerun Translation
D) Rerun Translation and then reconsolidate your result
5. Your customer has many eliminating entries to eliminate intercompany balances. The General Ledge does not include a purpose-built Consolidation feature.
How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?
A) There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management.
B) Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period.
C) Create a manual journal that includes the eliminating entries, and then create a copy of the Journal batch every period.
D) Use the spreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period.
Solutions:
| Question # 1 Answer: A,B | Question # 2 Answer: A | Question # 3 Answer: B,D,E | Question # 4 Answer: B | Question # 5 Answer: A |
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