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Q1. Which two statements are true regarding how Intercompany Balancing Rule, are defied?
A. All ledgers engaged in an intercompany transaction must share the same chart: of accounts in order to define balancing rules
B. You can only define balancing rules for different journals' sources. You cannot define balancing rules for different journal categories.
C. You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types
D. You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment value.
Answer: A
Q2. All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships.
What is Oracle's recommend approach to performing consolidations?
A. Use Oracle Hyperion Financial Management for this type of complex consolidation.
B. Translate balances to the corporate currency, create a chart of accounts mapping to the corporate Chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program.
C. Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.
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: D
Q3. You are implementing Segment Value Security rules. Which two statements are true?
A. You can use hierarchies to define rules.
B. The Segment Value Security rules do not take effect until you assign the rules to users and products.
C. When you enable Segment Value Security on a segment, users will not be able to access any values until you grant access to users and products.
D. When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts.
Answer: A,C
Explanation:
https://docs.oracle.com/cloud/farel8/financialscs_gs/FACSF/F1004387AN145CC.htm
Q4. 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?
A. The subledger 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
Q5. You want to prevent intercompany transactions from being entered during the last day of
the close.
What should you do?
A. Close all subledger periods.
B. Close Intercompany periods in Fusion Intercompany.
C. Freeze the Intercompany Journal source in General Ledger.
D. Close the General Ledger period in the Manage Accounting Periods page.
Answer: B
Q6. You want to specify Intercompany System Options. Which three factors should you consider?
A. Whether to enforce an enterprise-wide currency or allow in intercompany transactions in local currencies
B. Whether to allow receivers to reject intercompany transactions
C. Automatic or manual batch numbering and the minimum transaction amount
D. Automatic or manual batch numbering and the maximum transaction amount
E. The approvers who will approve intercompany transactions
Answer: A,B,D
Q7. 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?
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
Explanation:
Reference:
http://www.oracle.com/us/solutions/business-intelligence/consolidation-solution- 1876985.pdf
Q8. What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?
A. Transaction Objects
B. Event Entities
C. Mapping Sets
D. Accounting attributes
E. Event Classes
Answer: A
Explanation:
Reference: https://docs.oracle.com/cd/E18727_01/doc.121/e13420/T193592sdextchap.htm
Q9. You need to create a month-end re-porting package for an upcoming Audit Committee meeting. You have 10 financial reports that you will need to share with executives and auditors.
In which three ways do you accomplish this?
A. Using Workspace, assemble multiple reports into a book.
B. Use a Report Batch to run reports at a specific time to create set of snapshot reports based on accounting information at that specific point in time.
C. Users can drill down on snapshot reports for future analysis.
D. The report contained in the book can be printed or viewed individually or as an entire book thatincludes a table of contents.
E. Snapshot reports can only be viewed online.
Answer: A,B,D
Q10. The Accounting Manager requests that a schedule be created to automatically post journals from subledgers at different times.
Which journal attribute should you use to set the automatic posting criteria?
A. Journal Category
B. Journal Source
C. Journal Batch
D. Journal Description
Answer: C