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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. Which three objectives must be considered when designing the chart of accounts?

A) Limit the number of segments to those you need today to reduce data entry.
B) Try to use all 30 segments and 25 characters per segment because you cannot change It later.
C) Anticipate growth and maintenance needs as organizational changes occur.
D) Effectively manage an organization's financial business.
E) Consider implementing a single, global chart of accounts

2. Your customer has a large number of legal entities. The legal entity values are defined in the company segment and the primary balancing segment. They want to easily create eliminating entries for the intercompany activity.
What should you recommend?

A) Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment.
B) There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.
C) There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the Intercompany rules you define.
D) Define an intercompany segment in the chart of accounts. The Intercompany module and the intercompany balancing feature in general ledger and sub ledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading.

3. 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) 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.
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) 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.

4. What type of user must be defined before you can create an Implementation Project?

A) All roles that will be used throughout the implementation
B) A full-time employee that has the FSM Superuser role assigned
C) None. The Fusion Applications Superuser, FAADMIN, has full access to create an Implementation Project.
D) None. The OIM system administrator user ID, XELSYSADM, which is assigned by the person provisioning the system, has full access.
E) Implementation Users

5. Which two methods can your General Ledger accountants use to more easily view large amounts of contained in the tables in their work areas?

A) Export the table to Excel.
B) Run a Business Intelligence Publisher report with Excel as the output format.
C) Detach the table to resize it to the maximum size of the monitor
D) Use the Freeze feature on the tables to scroll through large amounts of data.

Solutions: