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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. Your customer requires physical invoices to be generated in Fusion Payables and Fusion Receivables for the intercompany payables and receivables transactions.
What statement is correct with regard to setting this up?

A) You only need to assign the Legal Entity and Organization Contact.
B) You must assign the corresponding Receivables and Payables Business Units.
C) You can only associate one Intercompany Organization per Legal Entity.
D) You must perform additional setup steps for Fusion Payables and Fusion Receivables.

2. Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries.
What is Oracle's recommended best practice when implementing; a new chart of accounts? How many segments and what segment qualifiers should be used?

A) Define three segments tor the company, department, and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.
B) Define three segments for the company, department, and natural account. The qualifiers shouldbe primary balancing segment, cost center segment, and natural account segment, respectively
C) Define four segments for the company, department, natur.il account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, and intercompany segment, respectively.
D) Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.

3. You customer is a financial Institution that needs to maintain overage daily balances (ADB).
Which two statements are true regarding this functionality in Fusion Applications?

A) Average balances are maintained for both actual and budget balances.
B) Average balances are stored in the Essbase cube.
C) When using ADB, you must define a daily calendar and assign it to your ADB ledger.
D) Average balances are stored for both subledger balances and general ledger balances.
E) ADB provides organizations with the ability to track average and end-of-day balances, reportaverage balance sheets, and create custom reports using both actual and average balances.

4. You want to monitor the dose process of all your financial subledgers and ledgers.
How can you quickly obtain this information?

A) Use the Manage Accounting Periods page to view the status of all subledgers and ledgers.
B) Run Closing Status reports.
C) Use Close Monitor in General Accounting Dashboard.
D) Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period.

5. What's the difference between subject areas that append the word "Real Time" and those that do not?

A) The "Real Time" subject areas are based on real-time transactions in Fusion Applications, and all others are based on data stored in the Oracle Business Intelligence Applications data warehouse.
B) The "Real Time" subject areas are based on real-time transactions and all others are based on Historical data.
C) The "Real time" subject areas are based on sub ledger transactions and all others are based on general ledger balances.
D) There is no difference.

Solutions: