Part4:Last Year Oracle Fusion General Ledger Certification Question Answers

QUESTION 13
Which statement is true when creating an Implementation Project for Financials Cloud?

Option's:
A.    The Implementation Project is preconfigured and cannot be deleted or changed.
B.    Plan your implementation project carefully because you cannot delete it or make changes later.
C.    You must select the Offering "Financials," and each individual product or option to perform the setup for each product in Financials Cloud.
D.    Selecting the Offering "Financials," automatically allows you to perform the setup for all Financials Cloud products.
E.    You only need to make the project name unique, then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management and Supply Chain Management.

Answer: C

QUESTION 14
You've set up the standard accrual with encumbrance accounting for your ledger and you realized that the encumbrance journals are defaulting with current date as the accounting date.
What is causing this?

Option's:
A.    The sub ledger accounting option Is set to system date.
B.    The actual accounting date was set up under the encumbrance accounting Default Date Rule.
C.    The system date was set up under the encumbrance accounting Default Date Rule.
D.    The current transaction accounting date was set up under the encumbrance accounting Default Date Rule.
E.    The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule.

Answer: D

 
QUESTION 15
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?

 

Option's:
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

QUESTION 16
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 $5,000 USD. You have an 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 PO 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?

Option's:
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 non matched 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