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Oracle Financials Cloud: General Ledger 2016 Implementation Essentials

Question No: 41

You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?

  1. Chart of accounts was not deployed.

  2. Accounting Configuration was not submitted-

  3. An Audit process needs to be successfully performed before a tree version can be set to Active.

  4. Two tree versions were not defined

Answer: D

Question No: 42

Which three reporting tools are based on real-time data or balances?

  1. Oracle Business Intelligence Applications (OBIA

  2. Smart View

  3. Business Intelligence Publisher (BI Publisher)

  4. Oracle transactional Business Intelligence (OTBI)

  5. Oracle Financial Reporting (FR)

Answer: B,D,E

Question No: 43

Which statement is true when creating an Implementation Project for Financials Cloud?

  1. The Implementation Project is preconfigured and cannot be deleted or changed.

  2. Plan your implementation project carefully because you cannot delete it or make changes later.

  3. You must select the Offering quot;Financials,quot; and each individual product or option to perform the setup for each product in Financials Cloud.

  4. Selecting the Offering quot;Financials,quot; automatically allows you to perform the setup for all Financials Cloud products.

  5. You only need to make the project name unique, then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management and Supply Cham Management.

Answer: C

Question No: 44

You want to define a tree or hierarchy for use in reports and allocations. What three aspects should you remember when creating the tree?

  1. 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.

  2. You must flatten the columns and publish the tree to view the hierarchy in Essbase cubes.

  3. The tree should have at least two tree versions to reduce report and allocation maintenance.

  4. You only need to flatten the columns if you plan to use the hierarchy in Oracle Transactional Business Intelligence (OTBI).

  5. It is fine to have the same child value roll up to two or more different parent values.

Answer: B,C,E

Question No: 45

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?

  1. Use the spreadsheet template that is accessed from the quot;Create Journal in Spreadsheetquot; task and import the spreadsheet with the eliminating entries every period.

  2. Use the General Ledger#39;s Calculation Manager to define an allocation definition to eliminate entries that you can generate every period.

  3. There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management.

  4. Create a manual journal that includes the eliminating entries, and then create a copy of the Journal batch every period.

Answer: C

Question No: 46

Fusion Accounting Hub includes Hyperion Data Management. For which two tasks can Hyperion Data Management be used?

  1. chart of accounts hierarchy maintenance

  2. integration with transactions from external feeder systems

  3. chart of accounts master data maintenance

  4. data access and security

  5. cross-validation rules

Answer: A,C Explanation:

http://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20374/F484243AN100CE.htm

Question No: 47

What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?

  1. Transaction Objects

  2. Event Entities

  3. Mapping Sets

  4. Accounting attributes

  5. Event Classes

Answer: A

Reference: https://docs.oracle.com/cd/E18727_01/doc.121/e13420/T193592sdextchap.htm

Question No: 48

You transact in 50 different currencies and you need to define a high volume of revaluation definitions. Which two methods are Oracle recommended best practices for streamlining this process?

  1. Define separate revaluation definitions for each class of accounts, currency, and different rate types.

  2. Use hierarchies and parent values in your revaluation definition.

  3. Share revaluation definitions across ledgers that share the same chart of accounts.

  4. Define one revaluation definition for all accounts (assuming all ledgers share the same chart of accounts) and simply change the parameters at run time.

Answer: B

Question No: 49

Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries.

What is Oracle#39;s recommended best practice when implementing; a new chart of accounts? How many segments and what segment qualifiers should be used?

  1. Define three segments for the company, department, and natural account. The qualifiers shouldbe primary balancing segment, cost center segment, and natural account segment,

    respectively

  2. Define four segments for the company, department, natur.il account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, and intercompany segment, respectively.

  3. Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.

  4. Define three segments tor the company, department, and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.

Answer: C

Question No: 50

Before implementing Fusion Financials, your customer used to manually reconcile their intercompany payables and receivables accounts.

What is a more automated approach to do this?

  1. Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances.

  2. Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances.

  3. Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance.

  4. In Fusion Financials, you must manually reconcile your intercompany account balances.

  5. Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances.

Answer: B

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