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1. You lust submitted the Accounting Configuration. Which two statements are correct?
A) Open the ledger's period to begin entering transactions.
B) A Data Access Set with full read/write access to the ledger is automatically created.
C) Verify the data roles created and assign them to the General Ledger users.
D) You must define a Data Access Set to obtain full read/write access to the ledgers in the Accounting Configuration.
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?
A) Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.
B) 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.
C) Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use.
D) 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.
3. You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment.
What does Oracle consider as best practice to define this chart or accounts?
A) Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level.
B) Define two different charts of accounts.
C) Define the company segment only and qualify it as both the primary balancing segment andintercompany segment.
D) Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance.
4. You need to create a month-end re-porting package for an upcoming Audit Committee meeting. You have 10 financial reports that you will need to share with executives and auditors.
In which three ways do you accomplish this?
A) Using Workspace, assemble multiple reports into a book.
B) Use a Report Batch to run reports at a specific time to create set of snapshot reports based on accounting information at that specific point in time.
C) Users can drill down on snapshot reports for future analysis.
D) The report contained in the book can be printed or viewed individually or as an entire book thatincludes a table of contents.
E) Snapshot reports can only be viewed online.
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 no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts.
C) Posting performance is much faster.
D) Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules.
E) 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.
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: A,B,D | Question # 5 Answer: C,E |
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