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| Section | Objectives |
|---|---|
| Subledger Accounting | - Accounting rules
|
| Period Close Process | - Close activities
|
| Security and Configuration | - Roles and access
|
| Enterprise Structures and Setup | - Chart of Accounts
|
| Journal Processing | - Manual journals
|
1. You are required to change today's daily rates for converting GBP to USD. What are three ways in which you can update existing daily rates
A) Use the spreadsheet loader from the Currency Rates Manager
B) Update rates manually using the Currency Rates Manager, which can be accessed only from the Functional Setup Manager
C) Import daily rates through the Daily Rates open interface table
D) Edit existing transactions and update the rates manually
E) Update rates manually using the Currency Rates Manager, which can be accessed from the Functional Setup Manager or the General Ledger's Period Close work area
2. Your customer has many eliminating entries to eliminate intercompany balances. The General Ledger 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) Use the spreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period
B) Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period.
C) There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management
D) Create a manual journal that includes the eliminating entries, and then create a copy of the journal batch every period
3. Management has added a requirement to segregate the duties of transferring journals to the General Ledger from the posting function. Which two new features allow this segregation? (Choose two.)
A) For previously scheduled automated processes, it is recommended to cancel and rescheduled the process for the option to be effective.
B) Must have separate user defined roles using the privilege XLA_CREATE_GENERAL_LEDGER_AND_SUBLEDGER _JOURNALS.
C) Journal entry spreadsheets are not impacted by this new function.
D) Uncheck the Enable Posting from the Manage Subledger Accounting Options task.
4. How can your Accounting Manager expedite journal processing during the time-critical month-end close?
A) by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)
B) by using the Close Status monitor to drill down on the close status across ledgers
C) by running the Journals report using Business Intelligence Publisher
D) by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Other
5. you need to define a chart of accounts includes a intercompany segment. Your customer plans to use segment value security rules for the company segment. What is Oracle's recommended method to define this chart of accounts?
A) Define the company segment only and qualify it as both primary balancing segment and intercompany segment.
B) Define Two Different Chart 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.
Solutions:
| Question # 1 Answer: B,C,E | Question # 2 Answer: B | Question # 3 Answer: A,D | Question # 4 Answer: D | Question # 5 Answer: D |
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