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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:
1. 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) Define two different charts of accounts.
B) Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance.
C) Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level.
D) Define the company segment only and qualify it as both the primary balancing segment andintercompany segment.
2. 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 Fusion General Ledger, and then close the related intercompany period
B) You only need to close Fusion Payables and Receivables periods followed by the Fusion GeneralLedger's period.
C) Close Fusion Payables and Receivables periods, close the related intercompany period, and then close the Fusion General Ledger's period.
D) Close the related intercompany period, close Fusion Payables and Receivables periods, and then Fusion General Ledger.
3. Most of the accounting entries for transactions from your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.
At what level can you override the default accounting attribute assignment?
A) Journal Entry
B) Event Class
C) Event Type
D) Journal Entry Rule Set
E) Journal Line Rule
4. Which three objectives must be considered when designing the chart of accounts?
A) Consider implementing a single, global chart of accounts
B) Limit the number of segments to those you need today to reduce data entry.
C) Try to use all 30 segments and 25 characters per segment because you cannot change It later.
D) Anticipate growth and maintenance needs as organizational changes occur.
E) Effectively manage an organization's financial business.
5. While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created.
Which two options explain that?
A) The Account Rule is defined with a different chart of accounts from the Journal Entry Rule Set.
B) The Account Rule's chartof accounts have no account values assigned
C) The Account Rule's conditions are not defined.
D) The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: D | Question # 4 Answer: A,D,E | Question # 5 Answer: B,D |
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