Oracle Financials Cloud: General Ledger 2018 Implementation Essentials

QUESTION NO: 1
You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment.
What is Oracle's recommended method to define this chart of accounts?

A. Define the company segment only and qualify it as both the primary balancing segment and intercompany segment B. Define two different charts of accounts C. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance D. Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level

Correct Answer: D

QUESTION NO: 2
When working with Essbase, versions of the tree hierarchy as defined in the General Ledger Cloud are not available in the Essbase balances cube. What should you do to correct this situation?

A. Redeploy the chart of accounts B. Make sure to flatten the rows of the tree version C. Make sure the tree is active D. Make sure the tree version was published successfully

Correct Answer: D

QUESTION NO: 3
You are implementing a multipillar implementation of both HCM Cloud and ERP Cloud. You are implementing ERP first followed by HCM Cloud. You want to ensure your ledgers and chart of accounts are correctly defined. What should you do? (Choose three)

A. Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies B. Deploy your chart of accounts C. Use the Rapid Implementation spreadsheet when creating your enterprise structure D. Create your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets E. Use HCM's Enterprise Structure Configurator (ESC) first

Correct Answer: B,C,E

QUESTION NO: 4
All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance.
They do perform intercompany accounting. What is Oracle's recommended approach to performing consolidations?

A. Use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment B. Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger. C. Define multiple ledgers for consolidation and report on ledger set D. Use Oracle Hyperion Financial Management for this type of complex consolidation

Correct Answer: D

QUESTION NO: 5
The Delete Translated Balances process provides the ability to completely reset translations in the event that significant changes are made to the accounting configuration.
Once the deletion process completes, what additional process must you run?

A. Submit the Create General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations. B. Submit the Update General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations. C. Submit the Create Scenario Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations. D. Submit the Create Currency Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.

Correct Answer: A

QUESTION NO: 6
You have enabled budgetary control and have a control budget set to Advisory control level. For September
2016, your budget for a given account combination is $5,000 USD. In the same month, there is an approved requisition for that account of $900 and an approved purchase order for that account of $2,500 USD. There is also a General Ledger adjustment journal entry for that account of $1,600 USD. An approved purchase order line of $400 USD is then cancelled. And an invoice is matched to the purchase order for $2,100 USD. Which two statements are true? (Choose two.)

A. The system always consumes budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation B. As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016 C. Funds reservation only happens for non-matched invoices, so the system will not reserve funds D. Purchase order encumbrance will be released for $2,100 USD E. No change

Correct Answer: B,D

QUESTION NO: 7
Your customer has many eliminating entries to eliminate intercompany balances. The General Ledger does not include a purpose-built Consolidation feature. How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?

A. Use the spreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period B. There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management C. Create a manual journal that includes the eliminating entries, and then create a copy of the journal batch every period D. Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period

Correct Answer: D

QUESTION NO: 8
While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created. Which two options explain that? (Choose two.)

A. The Account Rule's conditions are not defined B. The Account Rule's chart of accounts has no account values assigned C. The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set D. The Account Rule is defined with a different chart of accounts form the Journal Entry Rule Set

Correct Answer: C,D

Oracle Financials Cloud: General Ledger 2018 Implementation Essentials - 1Z1-1004 Exam Questions