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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. Identify three functions of Functional Setup Manager.

A) Centrally manage the close processes across subledgers and ledgers.
B) Automatically generate lists of setup tasks in the correct sequence with dependencies highlighted.
C) Provide a central place to access and perform all of the setup steps across Fusion application product
D) Assign setup tasks to individuals with due dates where users must manually update their completion status.
E) Automatically mark the status of tasks as Completed after they have been completed.

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

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

3. Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries.
What is Oracle's recommended best practice when implementing; a new chart of accounts? How many segments and what segment qualifiers should be used?

A) Define three segments tor the company, department, and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.
B) Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.
C) Define three segments for the company, department, and natural account. The qualifiers shouldbe primary balancing segment, cost center segment, and natural account segment, respectively
D) Define four segments for the company, department, natur.il account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, and intercompany segment, respectively.

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

5. What's the difference between subject areas that append the word "Real Time" and those that do not?

A) The "Real Time" subject areas are based on real-time transactions and all others are based on Historical data.
B) The "Real Time" subject areas are based on real-time transactions in Fusion Applications, and all others are based on data stored in the Oracle Business Intelligence Applications data warehouse.
C) The "Real time" subject areas are based on sub ledger transactions and all others are based on general ledger balances.
D) There is no difference.

Solutions: