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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. You are reconciling your Payables the Receivables balances against the General Ledger. You are using the Payables to Ledger Reconciliation report. You notice discrepancies between thebalances in the subledgers, subledger accounting, and general ledger.
Which three factors are responsible for these out-of-balance situations?

A) Subledger transactions have been accounted and transferred to General Ledger but have not been posted.
B) Period Close processes,such as Revaluation, Translation, and Consolidation have not beenperformed yet
C) All sub ledger transactions have been entered but do not have complete accounting.
D) There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.
E) Intercompany transactions have not been fully processed.

2. What process must be followed to propagate a chart of accounts hierarchy to the Essbase cube?

A) Define the hierarchy, then deploy the chart of accounts. The chart of accounts hierarchies will be generated automatically.
B) Define the hierarchy and make sure the tree is active. The hierarchy will be system generated for
C) Define the hierarchy, make sure the tree version is active, and then run the publish account Hierarchies program or the Publish Chart of Accounts Dimension Members and Hierarchies
D) Define the hierarchy, make sure the tree is active, and the Publish check box is selected for the hierarchy.

3. You want to specify Intercompany System Options.
Which three factors should you consider?

A) Whether to enforce an enterprise-wide currency or allow in intercompany transactions in local currencies
B) Automatic or manual batch numbering and the minimum transaction amount
C) Automatic or manual batch numbering and the maximum transaction amount
D) Whether to allow receivers to reject intercompany transactions
E) The approvers who will approve intercompany transactions

4. What are the two benefits of having the Essbase cube embedded in Fusion General Ledger?

A) General ledger balances are multidimensional, allowing you to perform robust reporting and analysis.
B) You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts.
C) Posting performance is much faster.
D) Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules.
E) You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously.

5. Which statement is true when creating an Implementation Project for Fusion Financials?

A) You only need to make the project name unique, then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management and Supply Chain
B) Selecting the Offering "Financials," automatically allows you to perform the setup for all Fusion Financial products.
C) Plan your implementation project carefully because you cannot delete it or make changes later. E) The Implementation Project is preconfigured and cannot be deleted or changed.
D) You must select the Offering "Financials," and each individual product or option to perform the setup for each product in Fusion Financials.

Solutions: