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Oracle 1Z0-508 Exam Syllabus Topics:

Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

1. A client is implementing Fusion Accounting Hub for their external receivable system. The external system sends invoices billed and cash receipts in a flat file along with the customer classification Information. The client wants the accounting amounts to be tracked by customer classification, but NOT necessarily in a Chart of Accounts segment. How can this be solved?

A) Change the Chart of Accounts structure to include customer classification; there is no other option.
B) Capture it as a source and develop custom report.
C) Use the Third Party control account feature.
D) Use Open account balances listing.
E) Use supporting references to capture customer classification.

2. To set up the intercompany transaction using the Chart of Account rule, you will have to ___________.

A) specify the chart of account intercompany receivables and intercompany payables accounts
B) specify the account of account intercompany receivables only
C) specify the chart of account Intercompany receivables accounts, Intercompany payables accounts, the source and the category
D) specify the chart of accounts intercompany payables only

3. Identify the two steps that must be completed when performing Accounting Configuration

A) Create Primary Ledgers
B) Create Reporting Currencies
C) Open First Period
D) Create Legal Entities

4. What are NOT included in the intercompany reconciliation reports?

A) Ledger balancing lines generated when the primary balancing segment value is in balance butneither the second balancing segment northird balancing segment is out of balance; clearing company balancing lines
B) Intercompany receivables and intercompany lines generated by the intercompany balancing feature
C) Intercompany receivables and Intercompany payables lines generated for the provider and receiver of each intercompany transaction
D) Clearing company balancing lines

5. What is the primary source of data that is used for the Financial Reporting Center?

A) data from the balances cubes and dimensions contained in the chart of account segments
B) transaction tables
C) the Code Combinations table
D) defined dimensions for journals

Solutions: