Oracle Financials Cloud: General Ledger 2019 Implementation Essentials

QUESTION NO: 1
You need to create a month-end reporting package for an upcoming Audit Committee meeting, you have 10 financial reports that you want to share with executives and auditors that are nicely formatted.
Identify the two Oracle recommended ways to accomplish this. (Choose two.)

A. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet B. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book C. Use a report batch to run reports at a specific time to create a set of snapshot reports D. Use OTBI to create multiple reports that you save to a folder that only the users can access E. Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee

Correct Answer: B,C

QUESTION NO: 2
The expense account of airfare was erroneously assigned to the account type "Liability". Which method should you choose to fix the problem?

A. Run the "Update Balance Cube Chart of the Accounting Dimension" program B. Run the "Segment Value Inheritance" program C. Deactivate the value D. Run the "Correct Misclassified Account" program

Correct Answer: D

QUESTION NO: 3
Your enterprise structure has one ledger and two business units. Business unit one wants to enable budgetary control for Requisitioning only on Procure-to-Pay Business Functions and business unit two wants to enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions. Which two statements are correct? (Choose two.)

A. While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving B. While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning C. Define budgetary control at ledger level and only encumbrance control at the business units D. Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving E. While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing F. Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit

Correct Answer: A,E

QUESTION NO: 4
What are the two purposes of a secondary ledger? (Choose two.)

A. It should only be used to main balances for processing performance B. It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting C. It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options D. It should not be used when trying to meet local accounting requirements E. It is used to main balances in a different currency only

Correct Answer: B,C

QUESTION NO: 5
Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation. What feature can you use to be proactively notified of account anomalies in a more timely manner?

A. Account Inspector and its charts B. Account Monitor C. Financial Reports with Embedded charts D. Smart View

Correct Answer: D

QUESTION NO: 6
Budgetary control for accounts 5020 and 5021 has a budget of $90,000USD each for the year 2012. The accounts also have balances on obligation of $10,000 USD for each and an expenditure of $20,000 USD for each. A Fund of $50,000 USD is available for account 5010 only. You have run the Encumbrance Year End Carry Forward process for obligation from the last period of the year 2012 to the first period of year 2013.
Which statement is true?

A. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward B. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances C. If you have included 5020 and 5021 in the encumbrance rule, the budget balances $90,000 USD, obligation $10,000 USD and expenditure $20,000 USD only will be carried forward. D. If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward. E. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forward

Correct Answer: E

QUESTION NO: 7
Identify three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA). (Choose three.)

A. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance. B. Cloud customers can use both OTBI and OBIA C. OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications. D. OTBI allows you to create custom reports from real-time transactional data against the database directly E. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications

Correct Answer: C,D,E

QUESTION NO: 8
What is the most efficient way to add a new year to the accounting calendar?

A. Use the Add Year button B. Add the periods manually C. The application automatically populates the next year when you open the first period of a new fiscal year D. Import the periods from a spreadsheet

Correct Answer: A

Oracle Financials Cloud: General Ledger 2019 Implementation Essentials - 1Z1-1054 Exam Questions