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Oracle Financials Cloud: General Ledger 2016 Implementation Essentials

Question No: 31

Your customer wants to have balance sheets and income statements for their cost center and program segments. That is, they want to have three balancing segments.

Which two recommendations would you give your customer?

  1. When entering journals manually, the customer will need to make sure that the debits and credits are equal across all balancing segments because the system will not automatically balance the journal.

  2. Every journal where debits do not equal credits across the three balancing segments will result in the System generating extra journal lines to balance the entry.

  3. Additional intercompany rules will need to be defined for the two additional balancing segments.

  4. Ledger balancing rules will need to be defined to instruct the system on how to generate balancing entries for the second and third balancing segments.

Answer: A,D

Question No: 32

You#39;ve set up the standard accrual with encumbrance accounting for your ledger and you realized that the encumbrance journals are defaulting with current date as the accounting date.

What is causing this?

  1. The subledger accounting option Is set to system date.

  2. The actual accounting date was set up under the encumbrance accounting Default Date Rule.

  3. The system date was set up under the encumbrance accounting Default Date Rule.

  4. The current transaction accounting date was set up under the encumbrance accounting Default Date Rule.

  5. The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule.

Answer: D

Question No: 33

The budget managers specify the budget accounts they want to monitor and decide on percentage threshold of funds availability.

Where must you define the details while analyzing budget balances in the Budget Account

Monitor page?

  1. Budget Group

  2. Application Development framework Desktop Integral ion (ADFdi)

  3. Account Group

  4. Budget Controller

  5. Budget Account Group

Answer: C

Question No: 34

What#39;s the difference between subject areas that append the word quot;Real Timequot; and those that do not?

  1. There is no difference.

  2. The “Real Time” subject areas are based on real-time transactions and all others are based on Historical data.

  3. The “Real Time” subject areas are based on real-time transactions in Fusion Applications, and all others are based on data stored in the Oracle Business Intelligence Applications data warehouse.

  4. The “Real time” subject areas are based on sub ledger transactions and all others are based on general ledger balances.

Answer: B

Question No: 35

Your customer has a large number of legal entities. The legal entity values are defined in the company segment and the primary balancing segment. They want to easily create eliminating entries for the intercompany activity.

What should you recommend?

  1. Define an intercompany segment in the chart of accounts. The Intercompany module and the intercompany balancing feature in general ledger and sub ledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading.

  2. There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.

  3. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment.

  4. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the Intercompany rules you define.

Answer: B

Question No: 36

The Accounting Manager requests that a schedule be created to automatically post journals from subledgers at different times.

Which journal attribute should you use to set the automatic posting criteria?

  1. Journal Category

  2. Journal Source

  3. Journal Batch

  4. Journal Description

Answer: C

Question No: 37

While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created.

Which two options explain that?

  1. The Account Rule is defined with a different chart of accounts from the Journal Entry Rule Set.

  2. The Account Rule#39;s chartof accounts have no account values assigned

  3. The Account Rule#39;s conditions are not defined.

  4. The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set.

Answer: B,D

Question No: 38

Your customer has only licensed Fusion Financials and wants to use approval workflows. Using which page to enter users and assign roles does Oracle consider best practice?

  1. Manage Users

  2. Hire a New Ernployee

  3. Oracle Identity Management (OIM)

  4. Policy Manager (APM)

  5. Financials not a stand-alone product

Answer: C

Question No: 39

You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What do you need to enable?

  1. Drill Through in Grid Properties

  2. Report Functions

  3. Nothing. All report balances are drillable in all FR Studio reports.

  4. Allow Expansion

Answer: D

Question No: 40

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?

  1. Invoice type will have less funds available by $400 USD.

  2. Manual encumbrance journal needs to be entered In General Ledger to release the budget amount of $400 USD.

  3. Only obligation type will have $400 USD funds available.

  4. $400 USD will be added back to available funds

  5. $400USD will be expired and not available for use.

Answer: A

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