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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:
1. Which two types of journals can be automatically routed through the journal approval process?
A) Journals imported from third-party systems
B) Revaluation journals
C) Sub ledger journals
D) Allocation journals
E) Manual journals
2. Your customer is reconciling their Intercompany Receivables accounts.
Which two reports should they use In addition to using the intercompany Reconciliation report?
A) AR Aging report
B) Receivables to General Ledger Reconciliation report
C) Receivables Aging by General Ledger Account report
D) General I edger Trial Balance report
3. 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?
A) 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.
B) 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.
C) 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.
D) 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. What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?
A) Transaction Objects
B) Accounting attributes
C) Event Entities
D) Mapping Sets
E) Event Classes
5. 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?
A) 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.
B) 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.
C) 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.
D) Additional intercompany rules will need to be defined for the two additional balancing segments.
Solutions:
| Question # 1 Answer: A,E | Question # 2 Answer: B | Question # 3 Answer: B | Question # 4 Answer: A | Question # 5 Answer: A,C |
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