Part13:Last Year Oracle Fusion General Ledger Certification Question Answers

QUESTION 53
Your customer has enabled budgetary and encumbrance controls at the requisition level. You have a purchase order for $1,000 USD, which is fully reserved and has one invoice for $600 USD. When the purchase order is matched through the final match process, the purchase order is closed for further invoicing.
What happens to the remaining $400 USD?

 

Option's:
A.    Invoice type will have less funds available by $400 USD.
B.    Manual encumbrance journal needs to be entered In General Ledger to release the budget amount of $400 USD.
C.    Only obligation type will have $400 USD funds available.
D.    $400 USD will be added back to available funds
E.    $400USD will be expired and not available for use.

 

Answer: A

QUESTION 54
All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting.
What does Oracle consider the best practice approach to performing consolidations?

 

Option's:
A.    Use Oracle Hyperion Financial Management for this type of complex consolidation.
B.    Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to theparent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
C.    Use General Ledger’s Financial Reporting functionality to produce consolidated reports bybalancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment.
D.    Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar,currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then create a ledger set across all ledgers and report on the ledger set.

Answer: A 

Reference:http://www.oracle.com/us/solutions/business-intelligence/consolidation-solution-1876985.pdf

 

QUESTION 55
The Accounting Manager requests that a schedule be created to automatically post journals from sub ledgers at different times.
Which journal attribute should you use to set the automatic posting criteria?
 

Option's:
A.    Journal Category
B.    Journal Source
C.    Journal Batch
D.    Journal Description 

 

Answer: C

QUESTION 56
Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses in Australia, New Zealand, and Singapore with a ledger in each country with a Corporate chart of account instance that has four segments.
Which two statements are true regarding the creation of a control budget?

 

Option's:
A.    Control budgets are always absolute to generate encumbrance accounting.
B.    A control budget can allow override rules only if the control level is absolute.
C.    The control budget structure has all the chart of account segments as budget segments.
D.    A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand, and Singapore.
E.    A control budget can be associated with a different calendar than accounting calendar.

 

Answer: B & E