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Oracle Financials Cloud: General Ledger 2018 Implementation Essentials

Question No: 1

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: 2

Your company wants to change the Cumulative Translation Adjustment (CTA) account to record gains/losses from varying currency rates.

What steps must you perform to achieve this objective without causing data corruption?

  1. Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.

  2. Open the Ledgers page and update the CTA account and then rerun Translation for all periods required. The system will automatically update the translated balances.

  3. Query the Translation journals and delete all of them, then change the CTA account in the Ledger page, and rerun Translation for all periods required.

  4. Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use.

Answer: B

Reference: http://docs.oracle.com/cd/E15586_01/fusionapps.1111/e20375/F350915AN25358.htm

Question No: 3

Which three objectives must be considered when designing the chart of accounts?

  1. Effectively manage an organization#39;s financial business.

  2. Consider implementing a single, global chart of accounts

  3. Anticipate growth and maintenance needs as organizational changes occur.

  4. Limit the number of segments to those you need today to reduce data entry.

  5. Try to use all 30 segments and 25 characters per segment because you cannot change It later.

Answer: A,B,C

Question No: 4

Which two methods can your General Ledger accountants use to more easily view large amounts of contained in the tables in their work areas?

  1. Detach the table to resize it to the maximum size of the monitor

  2. Export the table to Excel.

  3. Run a Business Intelligence Publisher report with Excel as the output format.

  4. Use the Freeze feature on the tables to scroll through large amounts of data.

Answer: A,B

Question No: 5

Your user forgot the password. How do you resolve this?

  1. Use the Manage Users page to update the user#39;s information and change the password.

  2. Use Oracle Identity Management (OIM) to reset the user#39;s password.

  3. Log in to the user#39;s machine as an Administrator and change the password from the login pa

  4. Use Access Policy Manager (APM) to reset the user#39;s password.

  5. Create a new user ID and password for the user.

Answer: B

Reference: http://docs.oracle.com/cd/E21764_01/doc.1111/e15477/pwd.htm#IMINT236

Question No: 6

Your customer wants to use a clearing company to automatically balance Intercompany entries. Which three statements are true regarding the use of a clearing company value?

  1. Clearing companies are not supported.

  2. If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity.

  3. You must map legal entities to balancing segment values in order to use a clearing company.

  4. If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger.

  5. If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal.

Answer: A,C,E

Question No: 7

You lust submitted the Accounting Configuration. Which two statements are correct?

  1. You must define a Data Access Set to obtain full read/write access to the ledgers in the Accounting Configuration.

  2. A Data Access Set with full read/write access to the ledger is automatically created.

  3. Open the ledger#39;s period to begin entering transactions.

  4. Verify the data roles created and assign them to the General Ledger users.

Answer: C

Question No: 8

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?

  1. Reference Data Sets

  2. Business Units functions

  3. None. Setup data is partitioned by Business Unit and must be defined separately per Business Unit.

  4. Data Access Sets

Answer: B

Question No: 9

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: 10

You want to define an allocation rule where segment values are constants for rules and formulas. What should you do?

  1. Specify Run Time Prompts (RTP).

  2. Always use the Outer Point of View (POV).

  3. Never use the Outer Point of View (POV).

  4. Only specify segment values in formulas.

Answer: D

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