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Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

1. You are setting up Close Monitor, which comprise a ledger set hierarchy definition. Which two components of the enterprise structure should the ledgers in the ledger set share.(Choose Two)

A) Legal Entities, Business Units and Chart of Accounts.
B) Chart of Accounts and Business Units.
C) Accounting Calendar
D) Chart of Accounts. Currency, Accounting Calendar, an subledger Accounting Method.

2. Which two statements are true regarding the export/import of reports?

A) A set of reports are provided for both exported and imported setup data to validate the export/import processes and setup data.
B) To view errors encountered during the export or import Process, you must use SQL queries to obtain that data because no reports exist.
C) A set of reports lists user names, suppliers, and customers that have been exported/imported.
D) Reports on setup data can be used to compare and analyze how the data might have changed over time.
E) The export/import reports are available only for Fusion Customer Relationship Management.

3. Encumbrance accounting is enabled for your ledger. An encumbrance journal dated 3/15/16 was recorded for a purchase order. The invoice was entered on 5/5/16, but the invoice accounting date was
4/20/16. The encumbrance journal for liquidating the purchase order encumbrance is dated
5/5/16.What is causing this?

A) The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule
B) The current transaction accounting date was set up under the encumbrance accounting Default Date Rule
C) The sub ledger accounting option is set to system date
D) The actual accounting date was set up under the encumbrance accounting Default Date Rule

4. Identify three Differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Application (OBIA).

A) OTBI allows you to create custom reports from real-time transactional data against the database directly.
B) OBIA works for multiple sources including E-business Suite, PeopleSoft, JD Edwards, SAP and Fusion Applications.
C) OBIA is based on the universal data warehouse design with different prebilt adapters that can connect to various source application.
D) Cloud customers can use both OTBI and OBIA
E) Both OBIA and OTBI provie a set of predefined reports and dashbards and a library of metrics that help to measure business perfrormance.

5. Your customer wants to have balance sheets and income statements for its cost center and program segments. That is, the customer wants to have three balancing segments.
Which two recommendations would you give your customer? (Choose two.)

A) Every journal where debits do not equal credits across the three balancing segments will result in the system generating extra journal lines to balance the entry
B) When entering journals manually, the customer will need to make sure that debits and credits are equal across all balancing segments because the system will not automatically balance the journal
C) Define Ledger balancing options to balance by second and third balancing segments
D) Additional intercompany rules will need to be defined for the two additional balancing segments

Solutions: