Exam Code: 1Z0-333 (Practice Exam Latest Test Questions VCE PDF)
Exam Name: Oracle Financials Cloud: General Ledger 2016 Implementation Essentials
Certification Provider: Oracle
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Q1. Your customer wants to have balance sheets and income statements for their cost center and program segments. That is, they want to have three balancing segments.

Which two recommendations would you give your customer?

A. When entering journals manually, the customer will need to make sure that the debits and credits are equal across all balancing segments because the system will not automatically balance the journal.

B. 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.

C. Additional intercompany rules will need to be defined for the two additional balancing segments.

D. Ledger balancing rules will need to be defined to instruct the system on how to generate balancing entries for the second and third balancing segments.

Answer: A,D


Q2. You are creating financial statements and want to have charts, such as a bar graph, automatically inserted to improve the understanding of the financial results.

What’s the most efficient way to achieve this?

A. When viewing the report, download to Excel and use Excel's Charting features to create your bar graph.

B. When designing your financial statement using Financial Report (FR), embed a chart into your report

C. Use Account Inspector that automatically creates graphs on financial balances.

D. Use Smart View, which is and Excel Add-on

Answer: C

Explanation:

Reference: https://docs.oracle.com/cd/E37017_01/doc.1115/e22893/F479559AN10590.htm


Q3. Journal approval uses Approvals Management Extension (AMX).

Which AMX builder method is most effective in routing the journals to the Accounting Manager when the General Ledger Accountant enters the journal?

A. Supervisory level based on HR Supervisors

B. Job level

C. Position

D. Approval Group

Answer: D


Q4. Your enterprise structure has one ledger and two business units. Business unit one wants to enable budgetary control for Requisitioning only in Procure-to-Pay Business Functions and business unit two wants to enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions.

Which two statements are correct?

A. While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing.

B. Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving.

C. Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit.

D. While defining control for business unit one, disable control lor Purchasing, Payable Invoicing, and

Receiving.

E. While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning.

F. Define budgetary control at ledger level and only encumbrance controls at the business units.

Answer: A,F


Q5. Which statement is true when creating an Implementation Project for Financials Cloud?

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 Cham Management.

Answer: C


Q6. Alter submitting the journal for approval, you realize that the department value in the journal incorrect. How do you correct the value?

A. Delete the journal and create a new journal.

B. Update the journal through workflow

C. Click the Withdraw Approval button in the Edit Journals page and edit the journal.

D. Reverse the journaland create a new one.

Answer: B


Q7. Fusion Accounting Hub includes Hyperion Data Management. For which two tasks can Hyperion Data Management be used?

A. chart of accounts hierarchy maintenance

B. integration with transactions from external feeder systems

C. chart of accounts master data maintenance

D. data access and security

E. cross-validation rules

Answer: A,C

Explanation:

http://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20374/F484243AN100CE.htm


Q8. You want to process multiple allocations at the same time. What feature do you use?

A. RuleSets

B. Point of View (POV)

C. Formulas

D. General Ledger Journal entries

Answer: C


Q9. You entered a journal and the client is asking for the following information:

• The current account balance

• What the future account balance will be if the Journal is approved and posted How will you get this information?

A. View the Projected Balance region in the Create Journals page.

B. Run a Trial Balance before and after posting.

C. Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances

D. Query the account balance online.

Answer: C


Q10. 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

Explanation:

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