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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. 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) Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting.
B) 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.
C) Create three segments and qualify them as the primary balancing segment, second, and third balancing segments, respectively.
D) Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions.

2. 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) Approval Group
B) Supervisory level based on HR Supervisors
C) Position
D) Job level

3. You are reconciling your Payables the Receivables balances against the General Ledger. You are using the Payables to Ledger Reconciliation report. You notice discrepancies between thebalances in the subledgers, subledger accounting, and general ledger.
Which three factors are responsible for these out-of-balance situations?

A) Intercompany transactions have not been fully processed.
B) There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.
C) Subledger transactions have been accounted and transferred to General Ledger but have not been posted.
D) All sub ledger transactions have been entered but do not have complete accounting.
E) Period Close processes,such as Revaluation, Translation, and Consolidation have not beenperformed yet

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

A) Formulas
B) RuleSets
C) Point of View (POV)
D) General Ledger Journal entries

5. Your Financial Analyst needs to interactively analyze General Ledger balances with the ability down to originating transactions.
Which three features facilitate this?

A) Smart View
B) Online Transactional Business Intelligence
C) Financial Reports published to Excel
D) Account Inspector
E) Account Monitor

Solutions: