Part3:Last Year Oracle Fusion General Ledger Certification Question Answers

QUESTION 9
Your customer is using budgetary control and encumbrance. You have an open purchase order for $500 USD, which you decide to match to an invoice for $300 USD.
What will be the fund status of the purchase order and invoice?

A.    The purchase order is Partially Liquidated and the invoice is Partially Reserved.
B.    The purchase order is Partially Liquidated and the invoice will be reserved.
C.    Both are reserved.
D.    The purchase order is liquidated and the invoice is Partially Reserved. E. Both are Partially Reserved.
E.    The purchase order is Open and the invoice is validated.

Answer: C

QUESTION 10
How can your Accounting Manager expedite Journal processing during the time critical month end close?

 

Option's:
A.    by using the Close Status monitor to drill down on the close status across ledgers
B.    by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Others
C.    by running the Journals report using Business Intelligence Publisher
D.    by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI) 

Answer: C

QUESTION 11
Your customer has many eliminating entries to eliminate intercompany balances. The General Ledge does not include a purpose-built Consolidation feature.
How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?

A.    Use the spreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period.
B.    Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period.
C.    There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management.
D.    Create a manual journal that includes the eliminating entries, and then create a copy of the Journal batch every period.

Answer: C
 

 
QUESTION 12
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 a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions.
B.    Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting.
C.    Create three segments and qualify them as the primary balancing segment, second, and third balancing segments, respectively.
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.

Answer: C 

Reference:http://docs.oracle.com/cd/E15586_01/fusionapps.1111/e20374/F484498AN122F4.html