Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
Last exam update: Nov 30 ,2023
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Question 1
You are using Oracle General Ledger (GL), Oracle Payables and Oracle Receivables and would like to prevent the closure of the GL period if the corresponding subledger period is not closed. How will you achieve this?
A. Opt in to the Prevent Period Close option for the offering
B. Set the relevant option on the Specify Ledger Options page
C. Nothing, this option is enabled automatically
D. Set the ORA_GL_INCLD_STRICT_PRD_CLOSE profile option to yes
Answer:
A
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Question 2
What are the three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA)? (Choose three.)
A. Cloud customers can use both OTBI and OBIA
B. OTBI allows you to create custom reports from real-time transactional data against the database directly
C. OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications.
D. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance.
E. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications
Answer:
B C E
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Question 3
Your Financial Analyst needs to interactively analyze General Ledger balances with the ability to drill down to originating transactions. Which three features facilitate this? (Choose three.)
A. Sunburst reports
B. Online Transactional Business Intelligence
C. Account Inspector
D. Account Monitor
E. Smart View
Answer:
C D E
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Question 4
Your customer uses Financials Cloud, Projects, Inventory, and SCM. Which two statements are true regarding intercompany accounting for these products? (Choose two.)
A. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product
B. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects
C. Each product has its own Intercompany Accounting feature that needs to be configured separately
D. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single- ledger journals
Answer:
C D
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Question 5
You need to define multiple allocation rules as efficiency as possible. Which three components can be reused across allocation rules? (Choose three.)
A. Point of View (POV)
B. Formulas
C. Run Time Prompts (RTP)
D. RuleSets
Answer:
B C D
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Question 6
What are the two purposes of a secondary ledger? (Choose two.)
A. It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options
B. It should not be used when trying to meet local accounting requirements
C. It is used to main balances in a different currency only
D. It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting
E. It should only be used to main balances for processing performance
Answer:
A D
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Question 7
Identify three roles that get access to the reports in the Fusion Accounting Hub Reporting Cloud Service (FAHRCS). (Choose three.)
A. Controller
B. General Accountant
C. General Accountant Manager
D. Business Intelligence Administrator (BI Admin)
E. Financial Analyst
Answer:
C D E
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Question 8
Account combinations can be created and/or modified using the Import Account Combinations file-based data import (FBDI). Which represents the appropriate upload steps?
A. Submit the Import Account Combinations process, then insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template.
B. Insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.
C. Insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.
D. Submit the Import Account Combinations process, then insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template.
Answer:
B
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Question 9
The Accounting Manager requests that a schedule be created to automatically post journals from subledgers at different times. Which journal attribute should you use to set the automatic posting criteria?
A. Journal Source
B. Journal Category
C. Journal Batch
D. Journal Description
Answer:
A
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Question 10
Management wants to use the budget transfer function available on the Review Budgetary Control Balances page. Which privilege is required to perform the budget transfer?
A. Import Budget Amounts from Spreadsheet (XCC_IMPORT_BUDGET_FROM_SPREADSHEETS_PRIV)
B. Import Budget Amounts (XCC_IMPORT_BUDGET_PRIV)
C. Manage Control Budgets (XCC_MANAGE_CONTROL_BUDGETS_PRIV)
D. Budget Loading (XCC_BUDGET_LOADING_DUTY_PRIV)
Answer:
B
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Question 11
You need to create a boardroom ready month-end reporting package for an upcoming Audit Committee meeting. You have 10 Financial Reports that you want to share with executives and auditors that are nicely formatted. What are the two Oracle recommended ways to accomplish this? (Choose two.)
A. Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee
B. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book
C. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet
D. Use a report batch to run reports at a specific time to create a set of snapshot reports
E. Use OTBI to create multiple reports that you save to a folder that only the users can access
Answer:
B D
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Question 12
Your client has been using Budgetary Control for six months. Now, they want to use the Spend Authorization. D18912E1457D5D1DDCBD40AB3BF70D5D After opting in the new feature Spend Authorization with Budgetary Control, what additional three actions need to be accomplished to activate this feature? (Choose three.)
A. Enable Payment Request Subtypes
B. Rebuild the GL Balances Cube
C. Create a Payment Process Profile
D. Rebuild the Budgetary Control Cube
E. Enable spend authorization
Answer:
A D E
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Question 13
Your company has complex consolidation requirements with multiple general ledger instances. You are using Oracle Hyperion Financial Management to consolidate the disparate General Ledgers. You can typically map segments between your general ledger segment to a Hyperion Financial Management segment, such as Company to Entity, Department to Department, and Account to Account. What happens to segments in your source general ledger, such as Program, that cannot be mapped to Hyperion Financial Management?
A. Data is summarized across segments that are not mapped to Hyperion Financial Management
B. The unmapped segments default to future use segments in Hyperion Financial Management
C. No data is transferred
D. Errors occur for unmapped segments. You must map multiple segments from source general ledgers to the target segment in Hyperion Financial Management
Answer:
D
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Question 14
You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment. What is Oracles recommended method to define this chart of accounts?
A. Define the company segment only and qualify it as both the primary balancing segment and intercompany segment
B. Define two different charts of accounts
C. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance
D. Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level
Answer:
D
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Question 15
You want to be notified of anomalies in certain account balances in real time. What is the most efficient way to do this?