Oracle Financials Cloud: General Ledger 2017 Implementation Essentials v5.0 (1z0-960)

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Total 105 questions

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. Event Entities
  • C. Mapping Sets
  • D. Accounting attributes
  • E. Event Classes


Answer : A

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

You want to prevent intercompany transactions from being entered during the last day of the close.
What should you do?

  • A. Close all subledger periods.
  • B. Close Intercompany periods in Fusion Intercompany.
  • C. Freeze the Intercompany Journal source in General Ledger.
  • D. Close the General Ledger period in the Manage Accounting Periods page.


Answer : B

Alter submitting the journal for approval, you realize that the department value in the journal incorrect. How do you correct the value?

  • A. Delete the journal and create a new journal.
  • B. Update the journal through workflow
  • C. Click the Withdraw Approval button in the Edit Journals page and edit the journal.
  • D. Reverse the journaland create a new one.


Answer : B

You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results.
What does Oracle consider best practice when this occurs?

  • A. Translate only the adjusting journal entry.
  • B. Rerun Revaluation and then rerun Translation
  • C. Rerun Translation and then reconsolidate your result
  • D. Enter another adjusting journal entry in the currency to true up the balances.


Answer : A

Your customer wants to control spending against an annual budget but report balances on a monthly year-to-date basis. Encumbrance accounting is also in use.
What setup is required to achieve this requirement?

  • A. Create an annual budget with absolute control and so encumbrance accounting will work.
  • B. Create a summary budget annually with advisory control and control budget monthly with absolute control. monthly control budget with advisory or track control.
  • D. Create two detail control budgets: annually with absolute control and monthly with advisory or track control.
  • E. Create two detail control budgets: annually with advisory/track control and monthly with absolute control.


Answer : A

On which three occasions are Essbase balances updated?

  • A. Every time the tree version is published
  • B. Every time journals are posted to the general ledger
  • C. Every time you run the batch program called "Update Essbase Balances"
  • D. At report run-time
  • E. Every time you open a new period


Answer : A,B,D

You entered users who are both employees and contingent workers. You want an automated way to assign, reassign, and remove roles from users. What feature do you use?

  • A. Oracle Identity Manager Roles Assignment
  • B. Access Policy Manager's Role Generation
  • C. Role Mappings
  • D. Data Roles
  • E. You cannot reassign contingent workers.


Answer : C

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

  • A. 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.
  • B. You must flatten the columns and publish the tree to view the hierarchy in Essbase cubes.
  • C. The tree should have at least two tree versions to reduce report and allocation maintenance.
  • D. You only need to flatten the columns if you plan to use the hierarchy in Oracle Transactional Business Intelligence (OTBI).
  • E. It is fine to have the same child value roll up to two or more different parent values.


Answer : B,C,E

You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file, along with the customer classification information. You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts.
What is the solution?

  • A. Use the Open Account Balances Listing report that has balances by customer.
  • B. Use the Third Party Control Account feature.
  • C. Use Supporting References to capture customer classification information.
  • D. Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).


Answer : C

In which two ways can your users customize the Dashboards and Work Areas to suit their individual working styles?

  • A. They can format each table by hiding and showing columns, moving columns, and resizing columns.
  • B. They can use Personalization to move and remove regions from those pages.
  • C. Users have very little control customizing their Dashboards and Work Areas; they can only resize columns.
  • D. They can have the System Administration customize pages for them using Page Composer.


Answer : C

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

  • A. Budget Group
  • B. Application Development framework Desktop Integral ion (ADFdi)
  • C. Account Group
  • D. Budget Controller
  • E. Budget Account Group


Answer : C

You want to display OTBI reports and graphs in PowerPoint to show general ledger or subledger data.
How do you accomplish this?

  • A. Download OTBI reports and charts to a spreadsheet and then copy and paste the spreadsheet to PowerPoint
  • B. Use SmartView to create reports and charts using general ledger and subledger subject areas embed the charts/reports into PowerPoint
  • C. Use Smart View and Oracle BI EE View Designer to create reports in PowerPoint, Word, and Excel.
  • D. Use Account Inspector and then export to Excel and copy and paste into PowerPoint.


Answer : C

Reference:
http://www.oracle.com/webfolder/technetwork/tutorials/obe/fmw/bi/biee/r1013/smartview/sm art_view.htm

Your customer has enabled encumbrance accounting. You have a control budget with the advisory level set at control. For November 2015, your budget for a given combination is approved requisition of $900 USD and you have an approved purchase order of $2,500 USD. An adjustment encumbrance journal is created in the
General Ledger for the obligation type for $1,600 USD. You then cancelled the approved line of $400 USD. For November 201b, you created a new invoice by matching to the
PO for $2,100 USD.
Which two statements are true?

  • A. Purchase order encumbrance will be released for $2100 USD.
  • B. As there are cancellations for $400 USD, the system will partially reserve the funds in November 2015 and fully reserve it in December 2015.
  • C. As you are matching to a purchase order, the system will allow the user to create an invoice with the reservation status of Reserved.
  • D. Encumbrance entries are created only for nonmatched Invoices, so the system will not create any encumbrance accounting entries.
  • E. The system always consumes budget of future periods if the limit for the current period is expired, so December 2015 budget will be considered for reservation.


Answer : C,E

You create a prepayment for USD l00 and validate it to consume the budget and reduce available funds under the prepayment account. You then pay the prepayment of USD 100 create an invoice for USD 300, and validate the* invoice to consume the budget and reduce available funds for the expense-accounts used in the invoice. You then apply the prepayment fully on to the invoice and revalidate it.
What happens to the available funds when you apply a prepayment that requires budgetary control?

  • A. The prepayment application was already released at the time of payment and the invoice consumes funds of 300 USD. the invoice consumes funds of lOO USD, with a net decrease to available funds of 200 USD.
  • C. Available funds will not change till invoice is approved.
  • D. The prepayment application releases funds of lOO USD and the invoice consumes funds of 300 USD, with a net decrease to available funds of 200 USD.
  • E. The prepayment application releases funds of 300 USD and the invoice consumes funds of 300 USD, with a net decrease to available funds of 100 USD.
  • F. The budget will be released only foi the USD 30O invoice amount.


Answer : F

Your customer is closing their period and they are using Fusion Intercompany to create physical invoices in Fusion Payables and Receivables.
What is the correct order of steps to close Fusion sub ledgers, Fusion Intercompany, and
Fusion General Ledger?

  • A. Close Fusion Payables and Receivables periods, close the related intercompany period, and then close the Fusion General Ledger's period.
  • B. Close Fusion Payables and Receivables periods, close Fusion General Ledger, and then close the related intercompany period
  • C. Close the related intercompany period, close Fusion Payables and Receivables periods, and then Fusion General Ledger.
  • D. You only need to close Fusion Payables and Receivables periods followed by the Fusion GeneralLedger's period.


Answer : C

Reference:
http://www.oracle.com/technetwork/middleware/bi-foundation/fcm-11122-fusion-r6- integration-1900499.pdf

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Total 105 questions