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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:
1. You want to prevent intercompany transactions from being entered during the last day of the close.
What should you do?
A) Freeze the Intercompany Journal source in General Ledger.
B) Close all subledger periods.
C) Close the General Ledger period in the Manage Accounting Periods page.
D) Close Intercompany periods in Fusion Intercompany.
2. What Is Oracle Essbase?
A) A robust reporting and analysis tool
B) A data ware house
C) A multidimensional Online Analytical Processing (OLAP) server that is embedded in Fusion GeneralLedger
D) A relational database
3. You are defining intercompany balancing rules that are applied to a specific source and category, such as payables and invoices, or a specific intercompany transaction type, such as Intercompany Sales.
Which two statements are correct?
A) If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value.
B) You can create a rule for all sources and categories by selecting the source "Other" and the category "Other."
C) You must define rules for every combination of specific categories and sources. Otherwise, theintercompany balancing will not work.
D) Set up a chart of accounts rule for every chart of accounts structure you have in order to ensurethat Intercompany Balancing will always find a rule to use to generate balancing accounts.
4. You want to process multiple allocations at the same time. What feature do you use?
A) RuleSets
B) General Ledger Journal entries
C) Formulas
D) Point of View (POV)
5. Before implementing Fusion Financials, your customer used to manually reconcile their intercompany payables and receivables accounts.
What is a more automated approach to do this?
A) Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances.
B) Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances.
C) In Fusion Financials, you must manually reconcile your intercompany account balances.
D) Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances.
E) Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance.
Solutions:
Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: A,C | Question # 4 Answer: C | Question # 5 Answer: B |