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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. You are defining intercompany balancing rules that are applied to a specific source and category, such as payables and invoices, or a specific intercompany transaction type, such as Intercompany Sales.
Which two statements are correct?

A) You must define rules for every combination of specific categories and sources. Otherwise, theintercompany balancing will not work.
B) If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value.
C) Set up a chart of accounts rule for every chart of accounts structure you have in order to ensurethat Intercompany Balancing will always find a rule to use to generate balancing accounts.
D) You can create a rule for all sources and categories by selecting the source "Other" and the category "Other."

2. What type of user must be defined before you can create an Implementation Project?

A) All roles that will be used throughout the implementation
B) A full-time employee that has the FSM Superuser role assigned
C) None. The OIM system administrator user ID, XELSYSADM, which is assigned by the person provisioning the system, has full access.
D) Implementation Users
E) None. The Fusion Applications Superuser, FAADMIN, has full access to create an Implementation Project.

3. Your foreign currency transactions need to be revalued every month. For balance sheet accounts, you reverse the revaluation journals in the next period. You are using the period-to-date (PTD) method of revaluation tor your income statement accounts.
When should you reverse revaluation journals, if at all required?

A) Both balance sheet and income statement revaluation journals should be reversed in the period.
B) The reversals must be done at the end of each quarter.
C) Reverse them in the same period as the revaluation run.
D) Never, because each period's revaluation adjustment is just for that period.

4. What Is Oracle Essbase?

A) A robust reporting and analysis tool
B) A multidimensional Online Analytical Processing (OLAP) server that is embedded in Fusion GeneralLedger
C) A relational database
D) A data ware house

5. Your customer wants to create fully balanced balance sheets for the Company, Line of Business, and product segments for both financial and management reporting.
What is Oracle's suggested best practice for doing this?

A) Create three segments and qualify them as the primary balancing segment, second, and third balancing segments, respectively.
B) Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions.
C) Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting.
D) Create two segments where the first segment represents the concatenation of Company and Line of Business, and then enable secondary tracking for the Product Segment.

Solutions: