1). Identify two true statements about using column sets in an FSG report. (Choose two.)
A. Formats can be set for each column.
B. Accounts cannot be assigned to a column set.
C. Calculations can be performed by using columns.
D. The seeded column sets provided must be used.
Answer: AC
2). Which report would provide information about the processing type (parallel or sequential) that may be
defined for reports?
A. FSG Report Detail Listing
B. FSG Report Summary Listing
C. FSG Row Set Summary Listing
D. FSG Content Set Summary Listing
Answer: D
3). During a pilot run of Financial Statement Generator reports, the report output displayed credit amounts
as negative numbers. The customer requires the credit amounts on the reports to be positive instead of
negative.
Identify the solution that must be implemented to meet the customer's requirements.
A. Inform the customer that this requirement would require a customization.
B. Select the change sign check box for the related row or column definition.
C. Deselect the change sign check box for the related row or column definition.
D. Create a journal by doubling the values wherever the report is displaying negative numbers.
Answer: B
4). You have been hired to implement Oracle General Ledger at XYZ Company. They want to have four
legal entities to support operations in the US (East), the US (West), the UK, and France.
The chart of accounts and accounting calendar are similar for all entities except France. Only the UK
operations want to enable average balances and journal approvals.
What would be the minimum number of setups needed to meet this need?
A. four
B. two
C. one
D. three
Answer: D
5). Choose the maximum number of secondary ledgers that can be assigned to a primary ledger.
A. unlimited
B. two per primary ledger
C. one per primary ledger
D. one per primary ledger with a reporting currency
Answer: A
6). John has created two ledgers: one primary and one secondary. The primary ledger stores
transactional data and the secondary ledger stores only adjustments. The secondary ledger shares the
same chart of accounts, accounting calendar or period-type combination, and currency as the associated
primary ledger.
John wants to obtain a complete accounting representation that includes both transactional data and
adjustments while running reports. Identify the best option.
A. Merge the primary ledger and the secondary ledger, and run reports.
B. Transfer adjustment data from the secondary ledger to the primary ledger while running reports.
C. Transfer transactional data from the primary ledger to the secondary ledger while running reports.
D. Use ledger sets to combine the adjustments-only secondary ledger with the primary ledger when
running reports.
Answer: D
7). ABC Enterprise has operations in the US and its headquarters in the UK. They share the same chart
of accounts, accounting calendar, accounting method, and ledger-processing options.
UK management requires reporting on receivables from its US operations in GBP each month.
Identify the best option for the US operations to report to their parent.
A. Create an account-level reporting currency.
B. Create a subledger-level reporting currency.
C. Create a journal-level reporting currency for every transaction.
D. Create a balance-level reporting currency and run general ledger translation.
Answer: B
8). ABC Enterprise has operations in the US, France, and Italy. The US, France, and Italy operations
have separate legal and statutory requirements. The tax requirements also differ for each country.
Identify the action you would perform to set up Oracle General Ledger.
A. Create a separate legal entity and accounting setup for each operation.
B. Create one legal entity and three accounting setups for the US, France, and Italy.
C. Create three legal entities for the US, France, and Italy, and one accounting setup.
D. Create three legal entities for each operation. Create one accounting setup for France and Italy, and
one for the US.
E. Create two legal entities: one for France and Italy, and one for the US. Create two accounting setups:
one for France and Italy, and one for the US.
Answer: A
9). XYZ Company is implementing Oracle at its headquarters in the US. It has operations in Australia, the
UK, and China. The Australian and the US operations can share the same chart of accounts segments,
and the UK and China operations can share the same chart of accounts segments.
All operations share the same calendar or period-type combination, but not the currency. Each country
requires that a separate accounting data be maintained.
Identify the number of legal entities to be created and the number of accounting setups.
A. Create one legal entity and four accounting setups.
B. Create four legal entities and one accounting setup.
C. Create two legal entities and four accounting setups.
D. Create four legal entities and four accounting setups.
Answer: D
10). ABC Enterprises has operations in the UK, France, the US (West), and the US (East). The US (West)
has budgetary control enabled and the US (East) requires approvals for journals. All operations share
the same chart of accounts, accounting calendar, and subledger accounting method. The US (West)
and the US (East) operate on the USD currency. The UK's currency is GBP, whereas France operates
on the EUR currency.
Identify the least number of legal entities and accounting setups to be created.
A. 1 legal entity and 4 accounting setups
B. 4 legal entities and 1 accounting setup
C. 3 legal entities and 3 accounting setups
D. 4 legal entities and 4 accounting setups
Answer: D
11). Select three criteria that are required to assign multiple legal entities to the same accounting setup.
(Choose three.)
A. have similar ledger processing options
B. open and close periods simultaneously
C. have tax requirements that are specific for a legal entity
D. require autonomous document sequencing for a legal entity
E. operate in a country that allows multiple legal entities to share the same primary ledger and ledger
attributes
Answer: ABE
12). The accounting setup process in Oracle General Ledger consists of three main steps. (Choose three.)
A. Update accounting options.
B. Approve accounting options.
C. Complete the accounting setup.
D. Create an accounting setup structure.
Answer: ACD
13). Select two statements that are true about ledgers in Oracle General Ledger. (Choose two.)
A. Each accounting setup requires a primary ledger.
B. Each accounting setup requires a primary ledger and a reporting ledger.
C. Each accounting setup requires a primary ledger and an adjustment-only secondary ledger.
D. Each accounting setup optionally requires one or more secondary ledgers and reporting currencies.
Answer: AD
14). You are implementing Oracle General Ledger at ABC Enterprises. ABC Enterprises is a legal entity
and must perform corporate and statutory reporting. It operates in a country that requires companies to
have two complete ledgers: one for statutory reporting and another for corporate reporting.
Identify the best option for primary and secondary ledgers.
A. Use the primary ledger to satisfy corporate reporting requirements, and then use a secondary ledger to
satisfy statutory reporting requirements.
B. Use the primary ledger to satisfy statutory reporting requirements, and then use a secondary ledger to
satisfy corporate reporting requirements.
C. Use the primary ledger to satisfy corporate reporting requirements, and then use an adjustment-only
secondary ledger to satisfy statutory reporting requirements.
D. Use the primary ledger to satisfy statutory reporting requirements, and then use an adjustment-only
secondary ledger to satisfy corporate reporting requirements.
Answer: A
15). Select two valid statements that apply to chart of accounts structures for a global company. (Choose
two.)
A. A segment of different chart of accounts structures can share the same value set.
B. A global chart of accounts is possible only if all sets of books for companies worldwide use the same
chart of accounts structure.
C. If the same value set is used for two or more chart of accounts structures, the same security rules for
that segment cannot be assigned to multiple structures.
D. It is possible to have multiple companies in the same set of books provided that they share the same
chart of accounts structure, accounting calendar, and reporting currency.
Answer: AB
16) You have been asked to demonstrate the basic functionality of Oracle General Ledger with a ledger
that reflects XYZ Company's business.
Select four data elements that you would need to obtain from XYZ Company to create a ledger for your
demo. (Choose four.)
A. the suspense account
B. the intercompany account
C. the retained earnings account
D. the number of accounting periods
E. the base (functional) currency of the company
F. the accounting calendar with periods and the fiscal year-end
G. the company organization structure for the chart of accounts
Answer: CEFG
17). ABC Inc. wants to have 16 accounting periods that include an adjusting period for each quarter in its
4-5-4 accounting calendar. Its fiscal year-end is March 31.
The normal month-end is on a Friday, but the last day of each quarter is always on the last day of the
quarter's final calendar month.
Select the remaining setup for the calendar to meet the requirement.
A. defining 12-monthly periods based on the 4-5-4 calendar ending on the last day of each month;
defining an adjusting period on the last day of each quarter
B. defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month;
defining four adjusting periods for March 31 of the fiscal year
C. defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month;
defining an adjusting period on the last Friday of each quarter
D. defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month,
except for the last month of each quarter ending on the last day of the month; defining an adjusting period
for each of the last day of the quarter
Answer: D
18). Your client wants to report with Financial Statements Generator (FSG) and perform account inquiry at
the summary (business unit) level of the cost center segment. A business unit is a group of cost centers,
and a business unit manager typically has several cost centers under his or her responsibility.
Which option will meet the client's requirements?
A. defining parent cost centers and a hierarchy of parent/child cost centers; defining rollup groups for the
parent cost centers; creating FSG based on the rollup groups
B. defining parent cost centers and a hierarchy of parent/child cost centers; creating summary accounts
based on the parent cost centers; creating FSG based on the parent cost center values
C. defining parent cost centers and a hierarchy of parent/child cost centers; defining summary accounts
for the parent cost centers; creating FSG based on the parent cost center values or summary accounts
D. defining parent cost centers and a hierarchy of parent/child cost centers; defining rollup groups for the
parent cost centers, and summary accounts; creating FSG based on the parent cost center values or
summary accounts
Answer: D
19). XYZ Company is implementing Oracle General Ledger. They want to record and report on expenses
by cost center. Identify three segments that must be defined for XYZ Company's accounting flexfield.
(Choose three.)
A. project
B. account
C. balancing
D. cost center
E. intercompany
Answer: BCD
20). Identify three ways in which subledgers transfer information to General Ledger. (Choose three.)
A. balances
B. batch transfer
C. detail journals
D. line-level records
E. summary journals
Answer: BCE
21). ABC Corp. runs the Create Journals program, after which the Create Journal Entries Execution report
is automatically created.
Identify three components on which the Create Journal Entries Execution report reports. (Choose three.)
A. Budget Journals
B. Posted Journals report
C. Payables encumbrance entries
D. Purchasing encumbrance entries
Answer: ACD
22). You set the GL: Journal Review Required profile option to "Yes." Identify the result.
A. requires all journals to be reviewed before posting
B. requires review of recurring journals before posting
C. requires review of a journal entered in GL by the approver before posting
D. requires generated AutoAllocation journals to be reviewed before posting
Answer: D
23). For each subledger, there must be one _____.
A. journal type
B. account type
C. journal source
D. journal category
Answer: C
24). Company A wants to distribute the rent expense to its various departments on the basis of floor space.
It has taken these steps:
1) capturing the floor space that is used by each department in a statistical account
2) creating a journal entry for the rent
Identify the next two steps required to distribute the rent cost to the various departments. (Choose two.)
A. posting the journal
B. defining the MassAllocation journal
C. defining and generating MassAllocation
D. creating manual journal entries for distributing the rent
Answer: AC
25). A reversing journal entry can be posted into _____.
A. a current or any future open period
B. a past closed period and a current open period
C. a current open period and a never-opened period
Answer: A
26). The GL user entered a taxable journal and posted it. Later, the user realized that the tax code
entered was wrong.
What must the user do?
A. Delete the journal and reenter it.
B. Reverse and reenter the journal.
C. Unpost the journal and reenter it.
D. Modify the tax code at the line level.
E. Enter another journal with the difference in the tax amount.
Answer: B
27). The fiscal year of XYZ Inc. is the calendar year.
Before closing the Mar-05 period, a GL user notices that an entry related to the Dec-04 period has not
been entered. Dec-04 has a closed status.
Now that the user has all the approvals, he or she wants to know how to enter and post the journal in GL,
ensuring that all balances are reflected correctly.
What must the user do?
A. Open Dec-04; enter and post the journal; close the period.
B. Open Dec-04, Jan-05, and Feb-05; enter and post the journal; close all periods.
C. Open Dec-04; enter and post the journal; run the Trial Balance report; close the period.
D. The user cannot post to a prior period that is not in the current fiscal year. So, enter and post it in
Mar-05.
Answer: C
28). ABC Inc.'s calendar is the fiscal year. They also use Average Balance Processing.
ABC's accrual category is defined with AutoReversal, with the reversal period as the next day, and an
effective date rule of roll.
An accrual journal entered on 29-Apr-05 will be reversed on the _____.
A. first day of the next period
B. next day in the same period
C. next business day in the same period
D. next business day in the same period or the next period, based on the transaction calendar
Answer: D
29). Which journal entry type does General Ledger automatically reverse and post?
A. actuals
B. budgets
C. actuals and budgets
D. budgets and encumbrance
E. actuals, budgets, and encumbrance
Answer: A
30). Identify three benefits of using the Journals Import: Group By Effective Date profile option. (Choose
three.)
A. facilitates consolidation
B. makes daily updates to daily business intelligence
C. facilitates more transparent exchange rate conversions
D. accounts for business transactions by effective date or by accounting date
E. facilitates financial auditing and compliance with the new Sabanes-Oxley Act
Answer: BDE
31). Select two components that are required to create the accounting setup by using Accounting Setup
Manager. (Choose two.)
A. ledgers
B. operating units
C. data access sets
D. definition access sets
E. subledger accounting method
Answer: AE
32). Choose three required steps while performing the accounting setup in the Accounting Setup Manager.
(Choose three.)
A. Define operating units.
B. Update accounting options.
C. Complete the accounting setup.
D. Define intercompany balancing rules.
E. Create the accounting setup structure.
F. Assign balancing segment values to legal entities.
Answer: BCE
33). Identify two places where you can define a legal entity. (Choose two.)
A. set of books
B. data access set
C. Legal Entity Configurator
D. HRMS organization setup
E. Accounting Setup Manager
Answer: CE
Oracle R12 Payables/GL Fundamentals FAQs
1) Which two actions would perform by using the column set builder function? Choose Two?
a) Assigning accounts.
b) Creating the format mask.
c) Defining calculations in the new column.
d) Sorting rows based on values in a column.
Answer: bc
2) Select two steps that NOT elements of creating a Financial Statement Generator (FSG) report in Oracle General Ledger? Choose Two?
a) Attach the fiscal calendar.
b) Define rows and columns.
c) Build a report by using rows and columns
d) Specify the default ledger for ledger sets.
e) Determine which rows and columns make up your report.
Answer: ad
3) XYZ company is getting ready to complete its month end process. It needs to create a profit and loss statement and wants to use the Financial Statement Generator feature to create the report. Which two elements are required to create the report (Choose Two).
a) Row set.
b) Report set.
c) Workbook
d) Column Set.
e) Content Set.
Answer: ad
4) In the course of implementing Oracle General Ledger, you and your customer have created a number of Financial Statement Generator reports in a test environment. These reports have been tested you and now ready to create them in your production environment. You are ready to run the FSG transfer program.
What two requirements are necessary to run this program (Choose Two).
a) Database links must be defined.
b) The same ledgers must be defined in both instances.
c) Enable the FSG: AutoCopy profile option in the production environment.
d) The same row and column sets must exist in the production environment.
Answer: ab.
5) ABC Corporation has five segments in its accounting flexfield. For a special profit and loss report, they want to sort by the forth segment, which is product. Select element that would meet this need.
a) Row set.
b) Row Order.
c) Content Set.
d) Column Set.
Answer: b.
a) Assigning accounts.
b) Creating the format mask.
c) Defining calculations in the new column.
d) Sorting rows based on values in a column.
Answer: bc
2) Select two steps that NOT elements of creating a Financial Statement Generator (FSG) report in Oracle General Ledger? Choose Two?
a) Attach the fiscal calendar.
b) Define rows and columns.
c) Build a report by using rows and columns
d) Specify the default ledger for ledger sets.
e) Determine which rows and columns make up your report.
Answer: ad
3) XYZ company is getting ready to complete its month end process. It needs to create a profit and loss statement and wants to use the Financial Statement Generator feature to create the report. Which two elements are required to create the report (Choose Two).
a) Row set.
b) Report set.
c) Workbook
d) Column Set.
e) Content Set.
Answer: ad
4) In the course of implementing Oracle General Ledger, you and your customer have created a number of Financial Statement Generator reports in a test environment. These reports have been tested you and now ready to create them in your production environment. You are ready to run the FSG transfer program.
What two requirements are necessary to run this program (Choose Two).
a) Database links must be defined.
b) The same ledgers must be defined in both instances.
c) Enable the FSG: AutoCopy profile option in the production environment.
d) The same row and column sets must exist in the production environment.
Answer: ab.
5) ABC Corporation has five segments in its accounting flexfield. For a special profit and loss report, they want to sort by the forth segment, which is product. Select element that would meet this need.
a) Row set.
b) Row Order.
c) Content Set.
d) Column Set.
Answer: b.
Oracle R12 Payabels/General Ledger Fundamentals FAQs
1) Which two are true about elimination? Choose Two.
a) You can define balancing options for eliminating entries.
b) You can define an elimination set to contain one elimination entry.
c) Currently is an optional component when defining an elimination set.
d) You must specify an elimination company in the elimination sets window.
Answer: ab
2) All manual journal entries are defaulting to non current period. Which step was omitted from the accounting cycle?
a) Updating the period.
b) Posting journal entries.
c) Consolidating financials.
d) Reversing journal entries.
e) Translating foreign balances.
Answer: a
3) Select the correct sequence of tasks required for period closing in Oracle General Ledger?
a) Verify that all journals are posted.
b) Close the period of each subledger.
c) Run the Trial Balance report and other month end reports.
d) Close the period and open the next period.
e) Perform reconciliation of subsidiary ledgers.
f) Transfer and import data from all subledgers.
Answer: f,e,b,a,c,d
4) Your manager has asked you to create a period close process that maximizes the efficiency of you two staff members and minimizes the number of closing days. Identify two sets of subledgers that can be closed concurrently? (Choose Two)
a) Payables and Assets.
b) Projects and Payables.
c) Inventory and Receivables.
d) Payables and Receivables.
e) Order Management and Projects.
Answer: de
5) Which four attributes are validated during the Journal Import Process? (Choose Four)
a) Period.
b) Approval Level.
c) Balanced Journal.
d) Cross Validation Rule.
e) Account Combination.
f) Journal Sequence Number.
Answer: acde
6) You have a new employee in the buying department. She set up a number of item numbers and choose not to flat them for invoicing. Several transactions have been completed in Order Management by using these new item numbers.
What effect would this event have on the Receivables closing process?
a) The transactions would be flagged as exceptions.
b) The transactions would be deleted from the system.
c) The transactions would prevent Receivables from being closed.
d) The transactions would prevent order management from being closed.
Answer: a
7) Identify two types of inquires that are possible on ledger sets. Choose Two.
a) variance inquiry.
b) Summary template and summary account inquires.
c) A budget balance inquiry to view the budgeted figures.
d) An account inquiry on ledger sets to view actual accounts balances across multiple ledgers that are assigned to a ledger set.
e) An account inquiry on ledger sets to view encumbrance account balances across multiple ledgers that are assigned to a ledger set.
Answer: de.
8) Your client is in the process of closing its first year end. The client completed that accounting cycle and found that several income statement accounts have a remaining balance. What would be the likely cause of these remaining balances?
a) Natural accounts were defined as parent values.
b) Natural accounts were defined to not allow posting.
c) Natural accounts were defined with an incorrect account type.
d) Natural accounts were defined to store both statistical and monetary values.
Answer: c
9) Identify the three reports that can be processed using the state controller window. (Choose three)
a) Consolidation Audit.
b) Consolidation Journal.
c) Consolidation Financial.
d) Consolidation Exceptions.
e) Consolidation Balance Inquiry.
Answer: abd.
10) Your client is closing its first period. The client completed the accounting cycle for each of the subsidiary books. Its staff has called you to troubleshoot its process because the consolidation did not produce any data. Select two steps that you would perform to identify the error? Choose Two.
a) Review the workflow process.
b) Evaluate the mapping settings.
c) Review the GL_Interface tables.
d) Confirm the account hierarchy steps.
e) Run the period close by using a different amount type.
Answer: bc
a) You can define balancing options for eliminating entries.
b) You can define an elimination set to contain one elimination entry.
c) Currently is an optional component when defining an elimination set.
d) You must specify an elimination company in the elimination sets window.
Answer: ab
2) All manual journal entries are defaulting to non current period. Which step was omitted from the accounting cycle?
a) Updating the period.
b) Posting journal entries.
c) Consolidating financials.
d) Reversing journal entries.
e) Translating foreign balances.
Answer: a
3) Select the correct sequence of tasks required for period closing in Oracle General Ledger?
a) Verify that all journals are posted.
b) Close the period of each subledger.
c) Run the Trial Balance report and other month end reports.
d) Close the period and open the next period.
e) Perform reconciliation of subsidiary ledgers.
f) Transfer and import data from all subledgers.
Answer: f,e,b,a,c,d
4) Your manager has asked you to create a period close process that maximizes the efficiency of you two staff members and minimizes the number of closing days. Identify two sets of subledgers that can be closed concurrently? (Choose Two)
a) Payables and Assets.
b) Projects and Payables.
c) Inventory and Receivables.
d) Payables and Receivables.
e) Order Management and Projects.
Answer: de
5) Which four attributes are validated during the Journal Import Process? (Choose Four)
a) Period.
b) Approval Level.
c) Balanced Journal.
d) Cross Validation Rule.
e) Account Combination.
f) Journal Sequence Number.
Answer: acde
6) You have a new employee in the buying department. She set up a number of item numbers and choose not to flat them for invoicing. Several transactions have been completed in Order Management by using these new item numbers.
What effect would this event have on the Receivables closing process?
a) The transactions would be flagged as exceptions.
b) The transactions would be deleted from the system.
c) The transactions would prevent Receivables from being closed.
d) The transactions would prevent order management from being closed.
Answer: a
7) Identify two types of inquires that are possible on ledger sets. Choose Two.
a) variance inquiry.
b) Summary template and summary account inquires.
c) A budget balance inquiry to view the budgeted figures.
d) An account inquiry on ledger sets to view actual accounts balances across multiple ledgers that are assigned to a ledger set.
e) An account inquiry on ledger sets to view encumbrance account balances across multiple ledgers that are assigned to a ledger set.
Answer: de.
8) Your client is in the process of closing its first year end. The client completed that accounting cycle and found that several income statement accounts have a remaining balance. What would be the likely cause of these remaining balances?
a) Natural accounts were defined as parent values.
b) Natural accounts were defined to not allow posting.
c) Natural accounts were defined with an incorrect account type.
d) Natural accounts were defined to store both statistical and monetary values.
Answer: c
9) Identify the three reports that can be processed using the state controller window. (Choose three)
a) Consolidation Audit.
b) Consolidation Journal.
c) Consolidation Financial.
d) Consolidation Exceptions.
e) Consolidation Balance Inquiry.
Answer: abd.
10) Your client is closing its first period. The client completed the accounting cycle for each of the subsidiary books. Its staff has called you to troubleshoot its process because the consolidation did not produce any data. Select two steps that you would perform to identify the error? Choose Two.
a) Review the workflow process.
b) Evaluate the mapping settings.
c) Review the GL_Interface tables.
d) Confirm the account hierarchy steps.
e) Run the period close by using a different amount type.
Answer: bc
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
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
Subscribe to:
Posts (Atom)
Posts
