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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. You customer is a financial Institution that needs to maintain overage daily balances (ADB).
Which two statements are true regarding this functionality in Fusion Applications?

A) When using ADB, you must define a daily calendar and assign it to your ADB ledger.
B) Average balances are maintained for both actual and budget balances.
C) Average balances are stored for both subledger balances and general ledger balances.
D) ADB provides organizations with the ability to track average and end-of-day balances, reportaverage balance sheets, and create custom reports using both actual and average balances.
E) Average balances are stored in the Essbase cube.

2. Your customer wants to have balance sheets and income statements for their cost center and program segments. That is, they want to have three balancing segments.
Which two recommendations would you give your customer?

A) Ledger balancing rules will need to be defined to instruct the system on how to generate balancing entries for the second and third balancing segments.
B) When entering journals manually, the customer will need to make sure that the debits and credits are equal across all balancing segments because the system will not automatically balance the journal.
C) Additional intercompany rules will need to be defined for the two additional balancing segments.
D) Every journal where debits do not equal credits across the three balancing segments will result in the System generating extra journal lines to balance the entry.

3. You lust submitted the Accounting Configuration. Which two statements are correct?

A) You must define a Data Access Set to obtain full read/write access to the ledgers in the Accounting Configuration.
B) Verify the data roles created and assign them to the General Ledger users.
C) Open the ledger's period to begin entering transactions.
D) A Data Access Set with full read/write access to the ledger is automatically created.

4. Your customer requires physical invoices to be generated in Fusion Payables and Fusion Receivables for the intercompany payables and receivables transactions.
What statement is correct with regard to setting this up?

A) You only need to assign the Legal Entity and Organization Contact.
B) You must perform additional setup steps for Fusion Payables and Fusion Receivables.
C) You must assign the corresponding Receivables and Payables Business Units.
D) You can only associate one Intercompany Organization per Legal Entity.

5. Your company wants to change the Cumulative Translation Adjustment (CTA) account to record gains/losses from varying currency rates.
What steps must you perform to achieve this objective without causing data corruption?

A) Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use.
B) Open the Ledgers page and update the CTA account and then rerun Translation for all periods required. The system will automatically update the translated balances.
C) Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.
D) Query the Translation journals and delete all of them, then change the CTA account in the Ledger page, and rerun Translation for all periods required.

Solutions: