Purchasing:
01. Complete all transactions for the period being closed
02. Review the current and future commitments
03. Review the outstanding and overdue purchase orders
04. Follow up Receipts – check with Suppliers
05. Identify and review Uninvoiced receipts (Period end Accruals)
06. Follow up outstanding Invoices
07. Complete the Payables period end process
08. Run Receipt Accruals – Period end process
09. Reconcile Accounts – Perpetual accruals
10. Perform year End Encumbrance Processing
11. Close the current purchasing period
12. Open the next purchasing period
13. Run standard Period end reports
Fixed Assets
01. Transfer Summary or Detail Transactions
02. Open the next inventory period
03. Run calculate gains and losses
04. Run depreciation
05. Create accounting
06. Rollback depreciation
07. Create deferred depreciation journal entries (Optional)
08. Depreciation projections (Optional)
09. Review and Post Journal Entries
10. Reconcile Assets to General Ledger using reports
11. Run responsibility reports (Optional)
Receivables
01. Complete all transactions for the period being closed
02. Reconcile the transaction activity for the period
03. Reconcile the outstanding customer balances
04. Review the unapplied receipts register
05. Reconcile receipts
06. Reconcile receipts to bank statement activity for the period
07. Post to the General Ledger
08. Reconcile the General ledger transfer process
09. Reconcile the Journal Import process
10. Print Invoices
11. Close the Current Receivables Period
12. Review the Subledger period close exceptions report
13. Third party balances report
14. Reconcile Posted Journal entries
15. Review the Unposted items report
16. Review the account analysis report
17. Open the Receivables nest period
18. Run reports for tax reporting purpose (Optional
Payables
01. Complete all transactions for the period being closed
02. Run the payables approval process for all invoices
03. Review and resolve amounts to the General Ledger
04. Reconcile the Payment to Bank Statement Activity for the period
05. Transfer all Approved invoices and payments to the General Ledger
06. Review the Payables to General Ledger posting Process after completion
07. Submit the unaccounted Transaction sweep program
08. Close the current payables period
09. Accrue uninvoiced receipts
10. Reconcile payables activity for the period
11. Run mass additions transfer to Assets
12. Open the next payables period
Order Management
01. Complete all transactions for the period being closed
02. Ensure all interfaces are completed for the period (Optional)
03. Review the open Order and Check the Workflow status
04. Review hold Orders
05. Review Customer Acceptances (Optional)
06. Review Discounts
07. Review Backorders
08. Review and correct Order Exceptions
09. Reconcile to Inventory
10. Reconcile to Oracle Receivables
11. Run Standard Period End Reports
General Ledger
01. Ensure the next accounting period status is set to future entry
02. Complete Oracle Sub Ledger interfaces to General Ledger
03. Upload Journal from ADI to General Ledger (Optional)
04. Complete Non Oracle Sub Ledger Interfaces to Oracle General Ledger (Optional)
05. Generate Reversal Journals (Optional)
06. Generate Recurring Journals (Optional)
07. Generate Mass Allocation Journals (Optional)
08. Review and Verify Journal Details of Unposted Journal Entries
09. Post All Journal Batches
10. Run the Period close Exceptions Report
11. Run GL Trial Balances Preliminary Financial Statement Generator
12. Revalue Balances (Optional)
13. Translate Balances (Optional)
14. Consolidate Balances (Optional)
15. Reconcile Intercompany (Optional)
16. Review & Correct Balances
17. Enter Adjustments / Accruals and Post
18. Perform Final Adjustments
19. Close the Current General Ledger Period
20. Open the Next General ledger Period
21. Run Financial Reports for the Closed period
22. Run Reports for Tax Reporting Purposes (Optional)
23. Perform Encumbrance year End Procedures (Optional)
Oracle EBS R12: General Ledger and Receivables Fundamentals 1Z0-216
Question: 1
Select two actions available in Oracle General Ledger. (Choose two.)
A. Deleting posted journals
B. Exporting data to subsidiary ledgers
C. Importing data from subsidiary ledgers
D. Consolidating balances in subsidiary ledgers
E. Consolidating balances from multiple ledgers
Answer: C, E
Question: 2
Identify three entities that can become a party in Oracle Trading Community Architecture (TCA).
(Choose three.)
A. An individual customerjavascript:void(0)
B. A personal relationship
C. A business organization
D. A business contact email
E. A business mailing address
F. A business contact telephone
Answer: A, B, C
Question: 3
The customer service department identified an order that was shipped and not invoiced. Identify
four potential causes for this occurring. (Choose four.)
A. AutoInvoice was not run.
B. The invoice lacks an accounting rule.
C. An AutoInvoice validation error exists.
D. Order Management workflow is stuck.
E. The order line has a back order credit hold.
Answer: A, C, D, E
Question: 4
Organizations have unique credit policies that aid in managing their collections and establishing
relationships with customers. Describe the two dimensions on which Oracle Credit Management
is based. (Choose two.)
A. Various customer credit classifications
B. Various credit review types identified by collectors
C. Various analysis of prior billing period and receipt history of customers
D. Various analysis of customers on the basis of the aging of their outstanding balances
Answer: A, B
Question: 5
In order for supplementary data sources to be registered in Oracle Bill Presentment Architecture
(BPA), they must be interfaced with which Oracle Application?
A. Oracle Projects
B. Oracle Receivables
C. Oracle Service Contract
D. Oracle Order Management
Answer: B
Question: 6
ABC Company wants to compare consolidated actuals against consolidated budgeted amounts.
Identify the two steps that must be performed to provide ABC Company with this information.
(Choose two.)
A. Run the Trial Balance report.
B. Execute an online budget inquiry.
C. Execute an online account inquiry.
D. Review the Account Analysis report.
E. Run financial statement generator reports.
Answer: C, E
Question: 7
The board of directors of Acme Enterprises decide to float two new ompanies: Acme Construction
and Acme Exports. hey want to implement Oracle General Ledger. They want to restrict access
across these new companies. Only the Vice President (Finance) must have complete access.
Identify two correct statements. (Choose two.)
A. Create one primary ledger for Acme Enterprises.
B. Create one primary ledger for Acme Enterprises, one for Acme Construction, and one for
Acme Exports.
C. Create only three data access sets: one for Acme Enterprises, one for Acme Construction, and
one for Acme Exports.
D. Create one data access set and provide read and write access to Acme Enterprises, and readonly
access to Acme Construction and Acme Exports.
E. Create four data access sets: one with read and write access for all companies and the rest
with read and write access for the respective balancing segment values for each company.
Answer: A, E
Question: 8
ABC Enterprise wants to achieve processing efficiencies in its accounts closing cycle. It has
multiple ledgers and needs to summarize balances across ledgers. ABC Enterprise is security
conscious and wants to restrict user access on ledgers. All its ledgers share the same chart of
accounts and accounting calendar or period-type combination. Identify which functionality of
Oracle General Ledger serves the need of ABC Enterprise.
A. Ledgers
B. Ledger sets
C. Consolidation
D. Data access sets
E. Balance transfers
Answer: B
Question: 9
A summary account template is being created to perform a flash inquiry on cash balances for a
chart of accounts consisting of three segments: company, department, and account. Which
combination would result in zero balance?
D = Detail
T = Total
A. T-T-T
B. T-T-D
C. T-D-D
D. D-T-D
E. D-D-D
Answer: A
Question: 10
Identify the two tasks that you can achieve by using sequential numbering. (Choose two.)
A. Enable sequential invoice numbers.
B. Enable gapless sequence numbers.
C. Sequentially number GL and subledger journal entries.
D. If you use journal- or subledger-level reporting currencies and when sequences are defined for
the source ledger (such as the primary or secondary ledger), the sequence number generated
for the source ledger is automatically assigned to the reporting currency journal.
Answer: B, C
Question: 11
John, the rates manager at ABC Company in the USA, is in charge of maintaining currency rates
for the entire company. John had defined the rates for GBP to USD and GBP to Indian Rupee
(INR) only. Sam, the company accountant, is worried that he would not be able to execute
transactions involving USD and INR currencies. What does John say to help Sam?
A. Currency Rates Manager automatically converts all transactions entered in INR to USD.
B. Currency Rates Manager automatically converts all transactions entered in INR to GBP first
and then to USD.
C. Currency Rates Manager automatically performs the calculation between USD and INR on the
basis of cross-rate rules.
D. Sam must manually define the USD to INR rates first, to be able to enter transactions involving
USD and INR currency.
E. Sam must manually define the INR to USD rates first, to be able to enter transactions involving
USD and INR currency.
Answer: C
Question: 12
When you define an assignment rule in Bill Presentment Architecture, you specify one or more
criteria for content item values. Select the three items contained in each criterion. (Choose three.)
A. Value
B. Template
C. Condition
D. Attribute name
E. Primary data source
Answer: A, C, D
Question: 13
Identify two AR transaction types that correspond to the GL category sales nvoice. (Choose two.)
A. Deposits
B. Guarantee
C. Adjustments
D. Chargebacks
E. On-account credit
F. Miscellaneous transactions
Answer: A, B
Question: 14
XYZ Corporation is headquartered in Dubai with a branch in Kuwait. Dubai uses a weekly
calendar and Kuwait uses a monthly calendar. The plan is to close the Kuwait operations and
open a new branch in Bangalore. The Kuwait secondary ledger will be deleted and the new
Bangalore secondary ledger will be added. Bangalore will use a different chart of accounts from
that of Dubai and will use a weekly calendar. Select two valid statements. (Choose two.)
A. There is no mapping required from the Dubai ledger to the Bangalore ledger.
B. After adding the Dubai ledger, the ledger options step must be completed.
C. Deleting the Kuwait ledger is possible after the accounting setup of the Dubai ledger is
complete.
D. If the Kuwait ledger is disabled, it is still available for historical reporting and manual journal
entries.
Answer: B, D
Question: 15
Identify the sequence of the steps that are required for performing the accounting setup from this
list.
1. Define acc
ounting options.
2. Define primary ledger.
3. Define legal entities.
4. Assign legal entities to accounting setup.
5. Complete accounting setup.
6. Define secondary ledgers.
A. 1, 2, 3, 4, 5, 6
B. 3, 4, 2, 6, 1, 5
C. 3, 4, 2, 6, 5, 1
D. 1, 3, 2, 4, 5, 6
Answer: B
Question: 16
While you are attempting to post entries, you receive this error message:
Number of updated GL_BALANCES rows does not equal the number of rows in the
GL_POSTING_INTERIM_24697 table.
A subsequent SQL script identifies that duplicates have arisen from a summary template ID.
What must you do?
A. Run the Maintain Summary Template program because a detail account has been added.
B. Run the Optimizer program because it would improve the performance of the posting program.
C. Run the Inherit Segment Values Attribute program because a valid code combination has been
preserved.
D. Run the Incremental Add/Delete Summary Templates program because there has been a
change in the hierarchy structure.
Answer: D
Question: 17
ABC Enterprise has operations in the US (East), the US (West), the US (North), and the US
(South). The US (North) and the US (East) divisions want to have budgetary controls. The US
(West) wants to have journal approvals. ABC Enterprise reports to its parent company in the UK
and the reporting currency is GBP. The scope of implementation is for the US operations. The
currency, chart of accounts, and calendar are the same for all operations. Identify the number of
legal entities and primary ledgers that must be created.
A. 1 and 3
B. 1 and 4
C. 2 and 3
D. 1 and 2
Answer: A
Question: 18
ABC Company in India imports baking equipment from XYZ Company in the US A. There is an
outstanding invoice of $1,000,000 to be paid in two months. The USD-to-INR rate when the
transaction was done was 47.5. Now the USD-to-INR rate has changed from 47.5 to 40.5. Jack,
who is a treasury analyst at ABC Company, reviews the transactions and comes to a conclusion.
Select two correct conclusions arrived upon by Jack. (Choose two.)
A. XYZ Company is not impacted at all by this rate change.
B. XYZ Company has a positive impact by this rate change.
C. ABC Company is not impacted at all by this rate change.
D. ABC Company has a positive impact by this rate change.
Answer: A, D
Question: 19
To create a party paying relationship, the relationship type must be hierarchical and the party type
must be _______.
A. Child
B. Parent
C. Person
D. Organization
E. Person or organization
Answer: D
Question: 20
Select four key system options in Oracle Receivables that are related to customers. (Choose
four.)
A. Default country
B. Receipt method
C. Automatic site numbering
D. Create reciprocal customer
E. Customer credit classification
F. Automatic customer numbering
G. Allow payment of unrelated transactions
Answer: C, D, F, G
Question: 21
Identify two credit memo options that are available in Oracle Receivables. (Choose two.)
A. Tax only
B. Advance
C. Paid freight
D. Invoice lines
E. Paid amount only
Answer: A, D
Question: 22
Which are the three formats in which late charges can be presented to your customers? (Choose
three.)
A. Adjustment
B. Chargeback
C. Debit memo
D. Add-on fees
E. Credit memo
F. Interest invoice
Answer: A, C, F
Question: 23
Select three statements that apply to iReceivables. (Choose three.)
A. It is a Web-based self-service application.
B. It can be used to verify the status of invoices and receipts.
C. It is geared towards call centers, as well as credit and collections departments.
D. It can be used to initiate the Oracle Approvals Management (AME) credit memo request
workflow.
Answer: A, B, D
Question: 24
XYZ Company uses financial statement generator reports to produce profit and loss statements
and balance sheet reports. Occasionally, XYZ Company needs to run a report that is slightly
different from the standard ones that have been created. Identify two types of changes the XYZ
Company can make by using the Row Order feature to accomplish this need. (Choose two.)
A. Adding a new calculation
B. Sorting based on column values
C. Displaying segment values and descriptions
D. Changing how rounding options are performed
Answer: B, C
Question: 25
Identify two reasons why ABC Company would use Oracle Business Intelligence (BIS) as one of
their reporting tools. (Choose two.)
A. Perform ad hoc query, reporting, analysis, and Web publishing.
B. Provide a secured and centralized location to produce and manage point-in-time reports.
C. Executive-level information about earnings per share and current ratios can be obtained.
D. Monitor the business at a high level and obtain performance measures by using business
metrics.
E. Create consolidated reports and perform consolidation for companies that share the same
ledger.
Answer: C, D
Select two actions available in Oracle General Ledger. (Choose two.)
A. Deleting posted journals
B. Exporting data to subsidiary ledgers
C. Importing data from subsidiary ledgers
D. Consolidating balances in subsidiary ledgers
E. Consolidating balances from multiple ledgers
Answer: C, E
Question: 2
Identify three entities that can become a party in Oracle Trading Community Architecture (TCA).
(Choose three.)
A. An individual customerjavascript:void(0)
B. A personal relationship
C. A business organization
D. A business contact email
E. A business mailing address
F. A business contact telephone
Answer: A, B, C
Question: 3
The customer service department identified an order that was shipped and not invoiced. Identify
four potential causes for this occurring. (Choose four.)
A. AutoInvoice was not run.
B. The invoice lacks an accounting rule.
C. An AutoInvoice validation error exists.
D. Order Management workflow is stuck.
E. The order line has a back order credit hold.
Answer: A, C, D, E
Question: 4
Organizations have unique credit policies that aid in managing their collections and establishing
relationships with customers. Describe the two dimensions on which Oracle Credit Management
is based. (Choose two.)
A. Various customer credit classifications
B. Various credit review types identified by collectors
C. Various analysis of prior billing period and receipt history of customers
D. Various analysis of customers on the basis of the aging of their outstanding balances
Answer: A, B
Question: 5
In order for supplementary data sources to be registered in Oracle Bill Presentment Architecture
(BPA), they must be interfaced with which Oracle Application?
A. Oracle Projects
B. Oracle Receivables
C. Oracle Service Contract
D. Oracle Order Management
Answer: B
Question: 6
ABC Company wants to compare consolidated actuals against consolidated budgeted amounts.
Identify the two steps that must be performed to provide ABC Company with this information.
(Choose two.)
A. Run the Trial Balance report.
B. Execute an online budget inquiry.
C. Execute an online account inquiry.
D. Review the Account Analysis report.
E. Run financial statement generator reports.
Answer: C, E
Question: 7
The board of directors of Acme Enterprises decide to float two new ompanies: Acme Construction
and Acme Exports. hey want to implement Oracle General Ledger. They want to restrict access
across these new companies. Only the Vice President (Finance) must have complete access.
Identify two correct statements. (Choose two.)
A. Create one primary ledger for Acme Enterprises.
B. Create one primary ledger for Acme Enterprises, one for Acme Construction, and one for
Acme Exports.
C. Create only three data access sets: one for Acme Enterprises, one for Acme Construction, and
one for Acme Exports.
D. Create one data access set and provide read and write access to Acme Enterprises, and readonly
access to Acme Construction and Acme Exports.
E. Create four data access sets: one with read and write access for all companies and the rest
with read and write access for the respective balancing segment values for each company.
Answer: A, E
Question: 8
ABC Enterprise wants to achieve processing efficiencies in its accounts closing cycle. It has
multiple ledgers and needs to summarize balances across ledgers. ABC Enterprise is security
conscious and wants to restrict user access on ledgers. All its ledgers share the same chart of
accounts and accounting calendar or period-type combination. Identify which functionality of
Oracle General Ledger serves the need of ABC Enterprise.
A. Ledgers
B. Ledger sets
C. Consolidation
D. Data access sets
E. Balance transfers
Answer: B
Question: 9
A summary account template is being created to perform a flash inquiry on cash balances for a
chart of accounts consisting of three segments: company, department, and account. Which
combination would result in zero balance?
D = Detail
T = Total
A. T-T-T
B. T-T-D
C. T-D-D
D. D-T-D
E. D-D-D
Answer: A
Question: 10
Identify the two tasks that you can achieve by using sequential numbering. (Choose two.)
A. Enable sequential invoice numbers.
B. Enable gapless sequence numbers.
C. Sequentially number GL and subledger journal entries.
D. If you use journal- or subledger-level reporting currencies and when sequences are defined for
the source ledger (such as the primary or secondary ledger), the sequence number generated
for the source ledger is automatically assigned to the reporting currency journal.
Answer: B, C
Question: 11
John, the rates manager at ABC Company in the USA, is in charge of maintaining currency rates
for the entire company. John had defined the rates for GBP to USD and GBP to Indian Rupee
(INR) only. Sam, the company accountant, is worried that he would not be able to execute
transactions involving USD and INR currencies. What does John say to help Sam?
A. Currency Rates Manager automatically converts all transactions entered in INR to USD.
B. Currency Rates Manager automatically converts all transactions entered in INR to GBP first
and then to USD.
C. Currency Rates Manager automatically performs the calculation between USD and INR on the
basis of cross-rate rules.
D. Sam must manually define the USD to INR rates first, to be able to enter transactions involving
USD and INR currency.
E. Sam must manually define the INR to USD rates first, to be able to enter transactions involving
USD and INR currency.
Answer: C
Question: 12
When you define an assignment rule in Bill Presentment Architecture, you specify one or more
criteria for content item values. Select the three items contained in each criterion. (Choose three.)
A. Value
B. Template
C. Condition
D. Attribute name
E. Primary data source
Answer: A, C, D
Question: 13
Identify two AR transaction types that correspond to the GL category sales nvoice. (Choose two.)
A. Deposits
B. Guarantee
C. Adjustments
D. Chargebacks
E. On-account credit
F. Miscellaneous transactions
Answer: A, B
Question: 14
XYZ Corporation is headquartered in Dubai with a branch in Kuwait. Dubai uses a weekly
calendar and Kuwait uses a monthly calendar. The plan is to close the Kuwait operations and
open a new branch in Bangalore. The Kuwait secondary ledger will be deleted and the new
Bangalore secondary ledger will be added. Bangalore will use a different chart of accounts from
that of Dubai and will use a weekly calendar. Select two valid statements. (Choose two.)
A. There is no mapping required from the Dubai ledger to the Bangalore ledger.
B. After adding the Dubai ledger, the ledger options step must be completed.
C. Deleting the Kuwait ledger is possible after the accounting setup of the Dubai ledger is
complete.
D. If the Kuwait ledger is disabled, it is still available for historical reporting and manual journal
entries.
Answer: B, D
Question: 15
Identify the sequence of the steps that are required for performing the accounting setup from this
list.
1. Define acc
ounting options.
2. Define primary ledger.
3. Define legal entities.
4. Assign legal entities to accounting setup.
5. Complete accounting setup.
6. Define secondary ledgers.
A. 1, 2, 3, 4, 5, 6
B. 3, 4, 2, 6, 1, 5
C. 3, 4, 2, 6, 5, 1
D. 1, 3, 2, 4, 5, 6
Answer: B
Question: 16
While you are attempting to post entries, you receive this error message:
Number of updated GL_BALANCES rows does not equal the number of rows in the
GL_POSTING_INTERIM_24697 table.
A subsequent SQL script identifies that duplicates have arisen from a summary template ID.
What must you do?
A. Run the Maintain Summary Template program because a detail account has been added.
B. Run the Optimizer program because it would improve the performance of the posting program.
C. Run the Inherit Segment Values Attribute program because a valid code combination has been
preserved.
D. Run the Incremental Add/Delete Summary Templates program because there has been a
change in the hierarchy structure.
Answer: D
Question: 17
ABC Enterprise has operations in the US (East), the US (West), the US (North), and the US
(South). The US (North) and the US (East) divisions want to have budgetary controls. The US
(West) wants to have journal approvals. ABC Enterprise reports to its parent company in the UK
and the reporting currency is GBP. The scope of implementation is for the US operations. The
currency, chart of accounts, and calendar are the same for all operations. Identify the number of
legal entities and primary ledgers that must be created.
A. 1 and 3
B. 1 and 4
C. 2 and 3
D. 1 and 2
Answer: A
Question: 18
ABC Company in India imports baking equipment from XYZ Company in the US A. There is an
outstanding invoice of $1,000,000 to be paid in two months. The USD-to-INR rate when the
transaction was done was 47.5. Now the USD-to-INR rate has changed from 47.5 to 40.5. Jack,
who is a treasury analyst at ABC Company, reviews the transactions and comes to a conclusion.
Select two correct conclusions arrived upon by Jack. (Choose two.)
A. XYZ Company is not impacted at all by this rate change.
B. XYZ Company has a positive impact by this rate change.
C. ABC Company is not impacted at all by this rate change.
D. ABC Company has a positive impact by this rate change.
Answer: A, D
Question: 19
To create a party paying relationship, the relationship type must be hierarchical and the party type
must be _______.
A. Child
B. Parent
C. Person
D. Organization
E. Person or organization
Answer: D
Question: 20
Select four key system options in Oracle Receivables that are related to customers. (Choose
four.)
A. Default country
B. Receipt method
C. Automatic site numbering
D. Create reciprocal customer
E. Customer credit classification
F. Automatic customer numbering
G. Allow payment of unrelated transactions
Answer: C, D, F, G
Question: 21
Identify two credit memo options that are available in Oracle Receivables. (Choose two.)
A. Tax only
B. Advance
C. Paid freight
D. Invoice lines
E. Paid amount only
Answer: A, D
Question: 22
Which are the three formats in which late charges can be presented to your customers? (Choose
three.)
A. Adjustment
B. Chargeback
C. Debit memo
D. Add-on fees
E. Credit memo
F. Interest invoice
Answer: A, C, F
Question: 23
Select three statements that apply to iReceivables. (Choose three.)
A. It is a Web-based self-service application.
B. It can be used to verify the status of invoices and receipts.
C. It is geared towards call centers, as well as credit and collections departments.
D. It can be used to initiate the Oracle Approvals Management (AME) credit memo request
workflow.
Answer: A, B, D
Question: 24
XYZ Company uses financial statement generator reports to produce profit and loss statements
and balance sheet reports. Occasionally, XYZ Company needs to run a report that is slightly
different from the standard ones that have been created. Identify two types of changes the XYZ
Company can make by using the Row Order feature to accomplish this need. (Choose two.)
A. Adding a new calculation
B. Sorting based on column values
C. Displaying segment values and descriptions
D. Changing how rounding options are performed
Answer: B, C
Question: 25
Identify two reasons why ABC Company would use Oracle Business Intelligence (BIS) as one of
their reporting tools. (Choose two.)
A. Perform ad hoc query, reporting, analysis, and Web publishing.
B. Provide a secured and centralized location to produce and manage point-in-time reports.
C. Executive-level information about earnings per share and current ratios can be obtained.
D. Monitor the business at a high level and obtain performance measures by using business
metrics.
E. Create consolidated reports and perform consolidation for companies that share the same
ledger.
Answer: C, D
Oracle EBS R12: General Ledger and Receivables Fundamentals 1Z0-216..
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
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
Oracle EBS R12: General Ledger and Receivables Fundamentals 1Z0-216
Question: 1
Identify two correct statements about the consolidation feature of Oracle General Ledger.
(Choose two.)
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 or different accounting structures and
consolidate their results for meaningful financial reporting.
Answer: A, D
Question: 2
Which three data elements default from transaction type in Oracle Receivables? (Choose three.)
A. Legal entity
B. Accounting
C. Sales person
D. Transaction numbering
E. Payment terms (if not set at the customer level)
Answer: A, B, E
Question: 3
Jane, the GL accountant, comes to you with a requirement: the recurring journals batches must
be automatically generated at specified intervals. What would be your response?
A. Allow Dynamic Insert must be enabled to satisfy this requirement.
B. Cross-validation rules must be defined to satisfy this requirement.
C. It is possible to satisfy this requirement by using the autoallocation functionality.
D. It is not possible to satisfy this requirement; recurring journals must be created manually.
Answer: C
Question: 4
To define the primary ledger, which account is always required?
A. Suspense account
B. Retained earnings account
C. Realized profit/loss account
D. Unrealized profit/loss account
E. Reserve for encumbrance account
F. Entered currency balancing account
Answer: B
Question: 5
Identify the three reports that can be processed using the State Controller window. (Choose
three.)
A. Consolidation Audit
B. Consolidations Journal
C. Consolidation Financial
D. Consolidation Exceptions
E. Consolidation Balance Inquiry
Answer: A, B, D
Question: 6
Your client is in the process of closing its first year-end. The client completed the 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
Question: 7
BC Corporation wants to use one ledger for its many subsidiary companies that will share the
global chart of accounts structure and the corporate accounting calendar. The controller is
concerned about users charging the wrong company when entering a journal entry. Which setup
would address the controller's concern?
A. Cross-validation rules ensure that the proper code combinations are used.
B. Segment security rules prevent users from seeing companies that they are not supposed to
see.
C. Journal approval ensures that journal entries are correct and approved before they can be
posted.
D. Suspense posting ensures that when there are unbalanced entries, the system would make it
balanced.
E. Intercompany accounting ensures that if a wrong company is used, at least intercompany
accounting entries would be created.
Answer: B
Question: 8
Your client has operations in two countries: Company 01 is located in Chicago and Company 02
is located in London. Both companies share the same calendar but have a different chart of
accounts. Your client requires a summary of transactions from both companies. Which three
actions must be considered when defining the consolidation process for your client? (Choose
three.)
A. Defining an elimination set to include a group of related elimination entries
B. Defining mapping rules to map Company 01 and Company 02 to Company 90
C. Selecting the transaction method for transferring data from Company 01 to Company 90
D. Defining a consolidation process using the Global Consolidation System by defining Company
90 as a parent to consolidate data from Company 01 and Company 02
Answer: A, B, D
Question: 9
Your functional end users are perplexed by the contents of the AutoInvoice Execution report.
They needed expert guidance and came to you. You look at the report and see that the Interface
Lines section of the report shows the following:
Selected: 9
Successfully Processed: 8
Failed Validation: 0
What is the likely reason for this?
A. An adjustment update of an old invoice is included in this batch.
B. The General Ledger (GL) code combination ID failed the cross validation rules.
C. A debit memo for an invoice and the invoice itself are submitted in the same batch and the
debit memo is selected first.
D. A credit memo for an invoice and the invoice itself are submitted in the same batch and the
credit memo is selected first.
E. The GL code combination segment value for the cost center was valid in the prior calendar
month but is end-dated a day earlier.
Answer: D
Question: 10
Jack is implementing Oracle General Ledger for ABC Corporation. The management wants the
definition of data access set with full ledger access set type for its four ledgers/ledger sets as
shown here:
Balancing Segment Value Data Access Set Type
Ledger/Ledger Set Balancing Segment Value Privileges
ABC Services All Read and Write
ABC Operations 01 Read-Only
ABC Operations 20 (Parent of child values 21-29) Read and Write
ABC Global Industries Ledger Set All Read and
Write Select two correct statements in this scenario. (Choose two.)
A. Users can only view the existing data in ABC Operations for the balancing segment value 01.
B. Users have read-only access to the data in some balancing segment values in the ledger set,
ABC Global Industries.
C. Users have read and write access to the data in some balancing segment values in the ledger
set, ABC Global Industries.
D. Responsibilities using this data access set will have read and write access to the data in ABC
Services and all its balancing segment values.
Answer: A, D
Question: 11
Identify two correct statements about Oracle Receivables. (Choose two.)
A. AutoAccounting is only used for the imported transactions.
B. Errors in the AutoInvoice are sent to the Interface Exceptions table.
C. Receivables transactions cannot be changed after they are printed.
D. Receipt accounting can be transferred after the receipts are entered and saved.
E. Transfer to General Ledger can transfer transaction accounting entries after the transactions
are entered and saved.
Answer: B, D
Question: 12
Symba Manufacturing International has a requirement to match Cost of Goods Sold (COGS) and
Revenue. They have asked your help in implementation. In this context, which two dependencies
and interactions are true? (Choose two.)
A. Cost Management performs COGS recognition (or Cost Accounting).
B. Cost Management integrates with Oracle Receivables for invoice creation.
C. Cost Management integrates with Oracle Receivables for revenue information.
D. Cost Management provides order and return information to Oracle Receivables.
E. Cost Management notifies Oracle Receivables when an order is closed without billing.
Answer: A, C
Question: 13
For transaction-related activities such as adjustments and discounts, Receivables derives the
balancing segment value from the _____ account that is associated with the transaction.
A. Revenue
B. Receivables
C. Unapplied cash
D. Unearned revenue
E. Unbilled receivables
F. Earned and unearned discounts
Answer: B
Question: 14
Select two steps that are 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: A, D
Question: 15
Which statement is correct about the differences between the functionalities of parent accounts
and summary accounts?
A. Summary accounts cannot be used in budget formulas, whereas parent accounts can be used
in budget formulas.
B. Summary accounts speed up the posting process, whereas parent accounts require additional
time for the Posting process.
C. Summary accounts use the summing segment type for MassAllocations, whereas parent
accounts use the looping segment type.
D. Summary account balances can be viewed in the Account Inquiry form, whereas parent
account balances cannot be viewed in that form.
E. Summary accounts slow down the generation of Financial Statement Generators, whereas
parent accounts help generate quicker results.
Answer: D
Question: 16
You are implementing Oracle General Ledger (GL) at a client site. The client is based in the US,
but they have a presence in many countries and transactions in multiple currencies. The
implementation team decides that the GL multi-currency setup will be a part of the
implementation. John, a junior consultant helping you in the implementation effort, tells you that
he is testing the system and entering journals in USD, Yen, and Euros. He says that he is able to
enter journals in USD and Euros, but not in Japanese Yen. What possible explanation can you
provide to John for this?
A. Yen has not been enabled.
B. Rate types have not been defined for Yen.
C. Daily rates have not been entered for Yen.
D. Workflow must be customized for journals to be entered in Yen.
Answer: A
Question: 17
Choose three tables that will be populated when the Journal Import process is run with the option
to post set as "Yes." (Choose three.)
A. GL_JE_LINES
B. GL_JE_BATCHES
C. GL_JE_HEADERS
D. GL_JE_SOURCES
E. GL_IMPORT_REFERENCES
Answer: A, B, C
Question: 18
AutoLockbox uses attributes to identify a customer for each AutoLockbox receipt. Which five
attributes for AutoLockbox are used to identify the customer? (Choose five.)
A. MICR number
B. Customer number
C. Sales order number
D. Receipt number (which is often the check number)
E. Transaction number using the auto associate option
F. Balance forward bill number using the auto associate option
Answer: A, B, C, E, F
Question: 19
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: 20
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
Identify two correct statements about the consolidation feature of Oracle General Ledger.
(Choose two.)
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 or different accounting structures and
consolidate their results for meaningful financial reporting.
Answer: A, D
Question: 2
Which three data elements default from transaction type in Oracle Receivables? (Choose three.)
A. Legal entity
B. Accounting
C. Sales person
D. Transaction numbering
E. Payment terms (if not set at the customer level)
Answer: A, B, E
Question: 3
Jane, the GL accountant, comes to you with a requirement: the recurring journals batches must
be automatically generated at specified intervals. What would be your response?
A. Allow Dynamic Insert must be enabled to satisfy this requirement.
B. Cross-validation rules must be defined to satisfy this requirement.
C. It is possible to satisfy this requirement by using the autoallocation functionality.
D. It is not possible to satisfy this requirement; recurring journals must be created manually.
Answer: C
Question: 4
To define the primary ledger, which account is always required?
A. Suspense account
B. Retained earnings account
C. Realized profit/loss account
D. Unrealized profit/loss account
E. Reserve for encumbrance account
F. Entered currency balancing account
Answer: B
Question: 5
Identify the three reports that can be processed using the State Controller window. (Choose
three.)
A. Consolidation Audit
B. Consolidations Journal
C. Consolidation Financial
D. Consolidation Exceptions
E. Consolidation Balance Inquiry
Answer: A, B, D
Question: 6
Your client is in the process of closing its first year-end. The client completed the 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
Question: 7
BC Corporation wants to use one ledger for its many subsidiary companies that will share the
global chart of accounts structure and the corporate accounting calendar. The controller is
concerned about users charging the wrong company when entering a journal entry. Which setup
would address the controller's concern?
A. Cross-validation rules ensure that the proper code combinations are used.
B. Segment security rules prevent users from seeing companies that they are not supposed to
see.
C. Journal approval ensures that journal entries are correct and approved before they can be
posted.
D. Suspense posting ensures that when there are unbalanced entries, the system would make it
balanced.
E. Intercompany accounting ensures that if a wrong company is used, at least intercompany
accounting entries would be created.
Answer: B
Question: 8
Your client has operations in two countries: Company 01 is located in Chicago and Company 02
is located in London. Both companies share the same calendar but have a different chart of
accounts. Your client requires a summary of transactions from both companies. Which three
actions must be considered when defining the consolidation process for your client? (Choose
three.)
A. Defining an elimination set to include a group of related elimination entries
B. Defining mapping rules to map Company 01 and Company 02 to Company 90
C. Selecting the transaction method for transferring data from Company 01 to Company 90
D. Defining a consolidation process using the Global Consolidation System by defining Company
90 as a parent to consolidate data from Company 01 and Company 02
Answer: A, B, D
Question: 9
Your functional end users are perplexed by the contents of the AutoInvoice Execution report.
They needed expert guidance and came to you. You look at the report and see that the Interface
Lines section of the report shows the following:
Selected: 9
Successfully Processed: 8
Failed Validation: 0
What is the likely reason for this?
A. An adjustment update of an old invoice is included in this batch.
B. The General Ledger (GL) code combination ID failed the cross validation rules.
C. A debit memo for an invoice and the invoice itself are submitted in the same batch and the
debit memo is selected first.
D. A credit memo for an invoice and the invoice itself are submitted in the same batch and the
credit memo is selected first.
E. The GL code combination segment value for the cost center was valid in the prior calendar
month but is end-dated a day earlier.
Answer: D
Question: 10
Jack is implementing Oracle General Ledger for ABC Corporation. The management wants the
definition of data access set with full ledger access set type for its four ledgers/ledger sets as
shown here:
Balancing Segment Value Data Access Set Type
Ledger/Ledger Set Balancing Segment Value Privileges
ABC Services All Read and Write
ABC Operations 01 Read-Only
ABC Operations 20 (Parent of child values 21-29) Read and Write
ABC Global Industries Ledger Set All Read and
Write Select two correct statements in this scenario. (Choose two.)
A. Users can only view the existing data in ABC Operations for the balancing segment value 01.
B. Users have read-only access to the data in some balancing segment values in the ledger set,
ABC Global Industries.
C. Users have read and write access to the data in some balancing segment values in the ledger
set, ABC Global Industries.
D. Responsibilities using this data access set will have read and write access to the data in ABC
Services and all its balancing segment values.
Answer: A, D
Question: 11
Identify two correct statements about Oracle Receivables. (Choose two.)
A. AutoAccounting is only used for the imported transactions.
B. Errors in the AutoInvoice are sent to the Interface Exceptions table.
C. Receivables transactions cannot be changed after they are printed.
D. Receipt accounting can be transferred after the receipts are entered and saved.
E. Transfer to General Ledger can transfer transaction accounting entries after the transactions
are entered and saved.
Answer: B, D
Question: 12
Symba Manufacturing International has a requirement to match Cost of Goods Sold (COGS) and
Revenue. They have asked your help in implementation. In this context, which two dependencies
and interactions are true? (Choose two.)
A. Cost Management performs COGS recognition (or Cost Accounting).
B. Cost Management integrates with Oracle Receivables for invoice creation.
C. Cost Management integrates with Oracle Receivables for revenue information.
D. Cost Management provides order and return information to Oracle Receivables.
E. Cost Management notifies Oracle Receivables when an order is closed without billing.
Answer: A, C
Question: 13
For transaction-related activities such as adjustments and discounts, Receivables derives the
balancing segment value from the _____ account that is associated with the transaction.
A. Revenue
B. Receivables
C. Unapplied cash
D. Unearned revenue
E. Unbilled receivables
F. Earned and unearned discounts
Answer: B
Question: 14
Select two steps that are 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: A, D
Question: 15
Which statement is correct about the differences between the functionalities of parent accounts
and summary accounts?
A. Summary accounts cannot be used in budget formulas, whereas parent accounts can be used
in budget formulas.
B. Summary accounts speed up the posting process, whereas parent accounts require additional
time for the Posting process.
C. Summary accounts use the summing segment type for MassAllocations, whereas parent
accounts use the looping segment type.
D. Summary account balances can be viewed in the Account Inquiry form, whereas parent
account balances cannot be viewed in that form.
E. Summary accounts slow down the generation of Financial Statement Generators, whereas
parent accounts help generate quicker results.
Answer: D
Question: 16
You are implementing Oracle General Ledger (GL) at a client site. The client is based in the US,
but they have a presence in many countries and transactions in multiple currencies. The
implementation team decides that the GL multi-currency setup will be a part of the
implementation. John, a junior consultant helping you in the implementation effort, tells you that
he is testing the system and entering journals in USD, Yen, and Euros. He says that he is able to
enter journals in USD and Euros, but not in Japanese Yen. What possible explanation can you
provide to John for this?
A. Yen has not been enabled.
B. Rate types have not been defined for Yen.
C. Daily rates have not been entered for Yen.
D. Workflow must be customized for journals to be entered in Yen.
Answer: A
Question: 17
Choose three tables that will be populated when the Journal Import process is run with the option
to post set as "Yes." (Choose three.)
A. GL_JE_LINES
B. GL_JE_BATCHES
C. GL_JE_HEADERS
D. GL_JE_SOURCES
E. GL_IMPORT_REFERENCES
Answer: A, B, C
Question: 18
AutoLockbox uses attributes to identify a customer for each AutoLockbox receipt. Which five
attributes for AutoLockbox are used to identify the customer? (Choose five.)
A. MICR number
B. Customer number
C. Sales order number
D. Receipt number (which is often the check number)
E. Transaction number using the auto associate option
F. Balance forward bill number using the auto associate option
Answer: A, B, C, E, F
Question: 19
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: 20
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
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