Question: 1
All manual journal entries are defaulting to a 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
Question: 2
XYZ Company is implementing Oracle at its headquarters in the US. It has operations in
Australia, the UK, and Chin a. 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
Question: 3
Transaction numbering is set up using _____.
A. System options
B. AutoAccounting
C. Transaction types
D. Transaction sources
Answer: D
Question: 4
The organization that Receivables uses to validate items is set up using _____.
A. The AR: Items Flexfield Mode profile option
B. The AR: Allow Manual Invoice Lines profile option
C. The AR: Item Validation Organization profile option
D. Item validation organization in the OM Parameters window
Answer: D
Question: 5
Jane, the GL accountant, says that she had heard about the budget upload functionality of Oracle
General Ledger and had been eager to test it. However, she was unable to test it in the
Conference Room Pilot (CRP) instance. What would be your explanation?
A. The GL period is closed.
B. The budget status may be frozen.
C. The GL account code combination is invalid.
D. Budget journals are required at the ledger level.
E. The budget dates in the budget organization have a different date range.
Answer: D
Question: 6
You want an invoice to be due in four stages. What should you do when creating the invoice to
accomplish this?
A. Assign an invoicing rule with four schedules.
B. Assign an accounting rule with four schedules.
C. Assign payment terms that have four payment schedules.
D. Assign payment terms that have four discount periods defined.
E. Create four lines and assign different payment terms to each line.
Answer: C
Question: 7
The Receivables QuickCash functionality enables you to_____.
A. Apply receipts at invoice line level
B. Apply receipts using Mass Apply window
C. Apply receipts at invoice header level only
D. Create adjustments and chargebacks for debit items with applied receipts
Answer: C
Question: 8
You mail your customer John Doe an invoice for $1000 for the supplies he ordered. John has the
option of making his payment either by check or by credit card. John elects to use his credit card.
This receipt is identified as a(n) _____ .
A. Manual receipt
B. Automatic receipt
C. Quickcash receipt
D. Autolockbox receipt
E. Miscellaneous receipt
Answer: B
Question: 9
For any scoring model, you can define a set of automation rules to guide the implementation of
credit decisions without user intervention. Under what situation are automation rules preferred?
A. When credit risk defined by an enterprise's policies is high
B. When credit risk defined by an enterprise's policies is minimal
C. When credit risk defined by an enterprise's policies is unrated
D. When credit risk defined by an enterprise's policies is moderate
Answer: B
Question: 10
Select two statements that are correct for the secondary tracking segment. (Choose two.)
A. Only the natural account segment or the balancing segment can be specified as the secondary
tracking segment.
B. Any segment that is specified as the secondary tracking segment also must be specified as the
management segment.
C. Any segment, except the natural account segment or the balancing segment, can be specified
as the secondary tracking segment.
D. This segment will be paired with the balancing segment when generating account balances for
retained earnings account, unrealized gains or losses account, and the cumulative translation
adjustment account.
E. This segment will be paired with the natural account segment when generating account
balances for retained earnings account, unrealized gains or losses account, and the
cumulative translation adjustment account.
Answer: C, D
Question: 11
You have the following information:
The Accounting flexfield structure is "company, department, product, account."
Product has two rollup groups: domestic and international.
Department has one rollup group: manufacturing.
All accounting flexfield segment values can use alphanumeric characters.
Which summary account template would Oracle General Ledger fail to create?
(D: Detail)
(T: Total)
A. T-T-T-T
B. T-D-D-D
C. D-D-D-D
D. D-T-domestic-D
E. D-manufacturing-D-T
F. T-manufacturing-international-D
Answer: C
Question: 12
Which form can you use to set up automatic transaction numbering?
A. Profile Options
B. System Options
C. Transaction Types
D. Transaction Sources
Answer: D
Question: 13
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. Currency is an optional component when defining an elimination set.
D. You must specify an elimination company in the Elimination Sets window.
Answer: A, B
Question: 14
XYZ Company uses Oracle General Ledger. They have a practice of loading data from the legacy
systems into the GL_INTERFACE table, from where they import it into Oracle General Ledger.
They have enabled four account segments. In the Key Flexfield Segments window, you find that:
Segment 1 corresponds to the SEGMENT1 column
Segment 2 corresponds to the SEGMENT2 column
Segment 3 corresponds to the SEGMENT4 column
Segment 4 corresponds to the SEGMENT5 column
Identify the columns of the GL_INTERFACE table with the data that must be populated.
A. Segment 1 in GL_INTERFACE.SEGMENT1, Segment 2 in GL_INTERFACE.SEGMENT2,
Segment 3 in GL_INTERFACE.SEGMENT4, Segment 4 in GL_INTERFACE.SEGMENT5
B. Segment 1 in GL_INTERFACE.SEGMENT1, Segment 2 in GL_INTERFACE.SEGMENT2,
Segment 3 in GL_INTERFACE.SEGMENT4, Segment 4 in GL_INTERFACE.SEGMENT3
C. Segment 1 in GL_INTERFACE.SEGMENT2, Segment 2 in GL_INTERFACE.SEGMENT3,
Segment 3 in GL_INTERFACE.SEGMENT4, Segment 4 in GL_INTERFACE.SEGMENT5
D. Segment 1 in GL_INTERFACE.SEGMENT2, Segment 2 in GL_INTERFACE.SEGMENT3,
Segment 3 in GL_INTERFACE.SEGMENT3, Segment 4 in GL_INTERFACE.SEGMENT4
Answer: A
Question: 15
Journal source, journal category, balance type, period, and effective date are used to define the
_____ criteria set.
A. AutoPost
B. Mass Allocations
C. Recurring Journals
Answer: A
Question: 16
Identify four discount basis options available that define how Receivables calculates discounts.
(Choose four.)
A. Gross amount
B. Freight amount
C. Invoice amount
D. Lines only amount
E. Lines and tax amount
F. Lines, freight, and tax amount
Answer: C, D, E, F
Question: 17
The client's GL accountant comes to you with a problem. A journal cannot be posted because it
has not been approved. The preparer cannot submit the journal for approval because the
Approve button is disabled in the Enter Journals form and the supervisor has not received a
notification requesting the approval. What could be the possible cause for this problem?
A. The profile option GL: Allow Preparer Approval must be reset.
B. One of the GL account code combinations in the journal is invalid.
C. Authorization limits have not been defined properly and the GL period is closed.
D. Budgetary control has been enabled for the set of books and funds have not been reserved for
the journal.
Answer: D
Question: 18
Which three are the benefits of the Currency Rates Manager in Oracle General Ledger? (Choose
three.)
A. You can maintain daily rates and historical rates more easily.
B. You get improved efficiency with the help of the spreadsheet interface.
C. You can maintain consistency among different currency conversion rates.
D. Additional security ensures that historical rates can be uploaded to closed or future periods
only.
E. You can maximize intercompany imbalances during intercompany eliminations of foreign
currency transactions that are due to exchange rate differences.
Answer: A, B, C
Question: 19
You have the option to define your own accounting rules in Oracle Subledger Accounting to meet
your implementation's business requirements by using ______.
A. AutoCash rule sets
B. Application rule sets
C. The accounting methods builder
D. The Revenue Accounting Management wizard
Answer: C
Question: 20
You have Oracle Receivables and Trade Management installed to manage claims. You discover
that one claim is a split claim, that is, half valid and half invalid. Identify three correct statements
about split claims. (Choose three.)
A. The amount of the claim is split in Receivables.
B. Splits are never shown in Receivables, they look like one claim.
C. The originating non-invoice-related claim number would be shown in Receivables with the split
number.
D. When a claim is split in Trade Management, the information is not immediately updated in
Receivables.
E. Claim information is automatically updated in Receivables when one of the claims is resolved
directly from Trade Management.
Answer: B, D, E
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