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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. Which three objectives must be considered when designing the chart of accounts?

A) Anticipate growth and maintenance needs as organizational changes occur.
B) Effectively manage an organization's financial business.
C) Limit the number of segments to those you need today to reduce data entry.
D) Consider implementing a single, global chart of accounts
E) Try to use all 30 segments and 25 characters per segment because you cannot change It later.

2. How do you hide accounts with no balances showing #Missing in Smart view?

A) Choose the Suppress Zeros option under Data options.
B) Select the Data/Missing check box in the Data Options tab.
C) This indicates a database connection issue. Try to reconnect to Fusion Applications.
D) Use Excel functions to hide rows with #Missing assigned

3. Which two types of journals can be automatically routed through the journal approval process?

A) Journals imported from third-party systems
B) Revaluation journals
C) Allocation journals
D) Sub ledger journals
E) Manual journals

4. Identify three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA).

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

5. 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 does Oracle consider the best practice approach to performing consolidations?

A) Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar,currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then create a ledger set across all ledgers and report on the ledger set.
B) Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to theparent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
C) Use Oracle Hyperion Financial Management for this type of complex consolidation.
D) Use General Ledger's Financial Reporting functionality to produce consolidated reports bybalancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment.

Solutions: