Oracle Financials Cloud: General Ledger 2017 Implementation Essentials

QUESTION NO: 1
How can your Accounting Manager expedite journal processing during the time-critical month-end close?

A. by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI) B. by using the Close Status monitor to drill down on the close status across ledgers C. by running the Journals report using Business Intelligence Publisher D. by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Others

Correct Answer: C

QUESTION NO: 2
Your customer has enabled encumbrance accounting. You have a control budget with the advisory level set at control. For November 2015, your budget for a given combination is $5,000 USD. You have an approved requisition of $900 USD and you have an approved purchase order of $2,500 USD. An adjustment encumbrance journal is created in the General Ledger for the obligation type for $1,600 USD. You then cancelled the approved PO line of $400 USD. For November 2015, you created a new invoice by matching to the PO for $2,100 USD.
Which two statements are true?

A. Purchase order encumbrance will be released for $2100 USD. B. Encumbrance entries are created only for nonmatched Invoices, so the system will not create any encumbrance accounting entries. C. The system always consumes budget of future periods if the limit for the current period is expired, so December 2015 budget will be considered for reservation. D. As there are cancellations for $400 USD, the system will partially reserve the funds in November 2015 and fully reserve it in December 2015. E. As you are matching to a purchase order, the system will allow the user to create an invoice with the reservation status of Reserved.

Correct Answer: C,E

QUESTION NO: 3
You are implementing Segment Value Security rules. Which two statements are true? (Choose two.)

A. The Segment Value Security rules do not take effect until you assign the rules to users and products. B. When you enable Segment Value Security on a segment, users will not be able to access any values until you grant access to users and products. C. You can use hierarchies to define rules. D. When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts.

Correct Answer: B,C

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QUESTION NO: 4
You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for $300 USD is matched to the purchase order.
What will be the fund status of the purchase order and invoice?

A. The purchase order is Partially Liquidated and the invoice is Partially Reserved. B. The purchase order is Open and the invoice is Validated. C. Both are Partially Reserved. D. Both are reserved. E. The purchase order is Partially Liquidated and the invoice will be Reserved. F. The purchase order is Liquidated and the invoice is Partially Reserved.

Correct Answer: D

QUESTION NO: 5
You need to create a month-end reporting package for an upcoming Audit Committee meeting. You have 10 financial reports that you will need to share with executives and auditors.
In which three ways do you accomplish this? (Choose three.)

A. Users can drill down on snapshot reports for future analysis. B. Using Workspace, assemble multiple reports into a book. C. Snapshot reports can only be viewed online. D. Use a Report Batch to run reports at a specific time to create set of snapshot reports based on accounting information at that specific point in time. E. The report contained in the book can be printed or viewed individually or as an entire book that includes a table of contents.

Correct Answer: B,D,E

QUESTION NO: 6
Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses in Australia, New Zealand, and Singapore with a ledger in each country with a Corporate chart of account instance that has four segments.
Which two statements are true regarding the creation of a control budget? (Choose two.)

A. Control budgets are always absolute to generate encumbrance accounting. B. A control budget can allow override rules only if the control level is absolute. C. A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand, and Singapore. D. The control budget structure has all the chart of account segments as budget segments. E. A control budget can be associated with a different calendar than accounting calendar.

Correct Answer: B,E

QUESTION NO: 7
Your customer is having issues transferring intercompany transactions to General Ledger.
Identify three reasons for this.

A. Both the intercompany and general ledger periods are open. B. If they are different, then the exchange rate is missing between the intercompany and ledger currency. C. The intercompany transaction is not approved. D. The intercompany period is closed. E. The corresponding Payables and Receivables invoice have not been generated.

Correct Answer: B,C,E

QUESTION NO: 8
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. Define multiple ledgers for consolidation and report on ledger set. B. Use Oracle Hyperion Financial Management for this type of complex consolidation. C. 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. D. 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.

Correct Answer: B

QUESTION NO: 9
What process must be followed to propagate a chart of accounts hierarchy to the Essbase cube?

A. 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 B. Define the hierarchy, make sure the tree is active, and the Publish check box is selected for the hierarchy. C. Define the hierarchy, then deploy the chart of accounts. The chart of accounts hierarchies will be generated automatically. D. Define the hierarchy and make sure the tree is active. The hierarchy will be system generated for

Correct Answer: D

Oracle Financials Cloud: General Ledger 2017 Implementation Essentials - 1z0-960 Exam Questions