Oracle General Ledger R12 Fundamentals FAQs

1) Identify two correct statements about the consolidation feature of Oracle General Ledger ( Choose Two from below) ?

a) Both Budget and Actual balances can be consolidated.
b) Consolidation is possible only when the subsidiaries use multiple Oracle Application Instances.
c) You can consolidate balances only when there are separate ledgers for different companies.
d) You can maintain multiple companies with similar different accounting structures and consolidate their results for meaningful financial reporting.

Answer: ad

2) XYZ Company in the United Kingdom has three subsidiaries in three different countries. If consolidates the accounts of all subsidiaries and the headquarters by using average balances. Ronald is new to Oracle General Ledger. He has just joined XYZ Company. He needs to consolidate for the current month. On completion of the consolidation, Ronald was not able to tally the consolidated figures with the ledgers?
Select two reasons why Ronald failed to see the correct balances (Choose Two from below)
a) Posting of the consolidation journal may have failed.
b) He forgot to add the prior period’s consolidation in the current period.
c) Manual adjustment needed after every consolidation was not performed.
d) Ronald may not have reversed the prior periods consolidation in the current period.

Answer: ad

3) Select two restrictions that apply to consolidating budget balances. (Choose two)

a) If the source and target budgets share the same calendar, you must consolidate a specific period to a specific period.
b) If the source and target budgets share the same start period, you must consolidate a specific period to a specific period.
c) If the source and target budgets do not share the same ledger, you must consolidate a specific period to specific period.
d) If the source and target budgets do not share the same calendar, you must consolidate a specific period to a specific period.
e) If the source and target budgets do not share the same start period, you must consolidate a specific period to specific period.

Answer: de



4) Select three statements that apply to the Global Consolidation System (GCS). (Choose Three).

a) It consolidates data from the legacy feeder system.
b) This system creates consolidated journal entries in both the parent and subsidiary sets of books.
c) GCS automatically generates journal entries to eliminate intercompany balances based on defined rules.
d) It performs multidimensional analysis of consolidated financial data by using oracle Enterprise planning and budgeting.

Answer: acd

5) Select three statues of the consolidation workbench. (Choose three from below)

a) Posted.
b) Entered.
c) Exported.
d) Reversed.
e) Transferred.

Answer: ade