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Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

1. The current implementation project covers Financials (with Fixed Assets and Expenses) with operations planned in three countries (USA, Italy, and India). a Which three labels are required when designing the chart of account structure for the Project.

A) Primary Balancing
B) Secondary Balancing
C) Natural Account _
D) Cost center
E) Intercompany Segment -

2. Which two statements are true regarding how intercompany balancing rule, are defined? (Choose Two)

A) You can only define balancing rules for different journals sources. You cannot define balancing rules for different journal categories
B) You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types
C) you can define different rules for different chart of accounts, ledgers, legal entities, and primary balancing segment value.
D) All Ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules

3. You create an invoice for USD 100 that is matched to a purchase order of USD 100. You validate the invoice to consume the budget and reduce funds available. And then later, you cancel invoice. What happened to funds available when you cancel and invoice that requires budgetary control?

A) The funds reserved for the purchase order is reinstated while the invoice expenditure is reversed by USD 100
B) The Budget and funds available will increase by USD 100.
C) The Budget will increase by USD 100 ad the funds available will decrease by USD 100
D) funds Available will change when the invoice is approved

4. Your Financial Analyst needs to interactively analyze General Ledger balances with the ability down to originating transactions. Which three features facilitate this?

A) Financial Reports published to Excel
B) Account Monitor
C) Online Transactional Business Intelligence
D) Smart View
E) Account Inspector

5. Identify three roles that get access to the reports in the Fusion Accounting Hub Reporting Cloud Service (FAHRCS). (Choose three.)

A) Financial Analyst
B) Controller
C) Business Intelligence Administrator (BI Admin)
D) General Accountant Manager
E) General Accountant

Solutions: