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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:
1. Which two are prerequisites for creating subledger accounting entries?
A) Creating subledger accounting events
B) Populating supporting reference information in reference objects
C) Selecting source values from transaction objects
D) Completing preaccounting validation
E) Completing accounting transformation definition and activating Subledger Journal Entry Rule Set assignments for the Accounting Method
2. Your customer is closing their period and they are using Fusion Intercompany to create physical invoices in Fusion Payables and Receivables.
What is the correct order of steps to close Fusion sub ledgers, Fusion Intercompany, and Fusion General Ledger?
A) Close the related intercompany period, close Fusion Payables and Receivables periods, and then Fusion General Ledger.
B) Close Fusion Payables and Receivables periods, close the related intercompany period, and then close the Fusion General Ledger's period.
C) You only need to close Fusion Payables and Receivables periods followed by the Fusion GeneralLedger's period.
D) Close Fusion Payables and Receivables periods, close Fusion General Ledger, and then close the related intercompany period
3. You want to be notified of anomalies in certain account balances in real time. What is the rnost efficient way to do this?
A) Use Account Inspector.
B) Perform an account analysis online.
C) Create an Account Group using Account Monitor.
D) Open a Smart View file saved on your desktop.
4. What process must be followed to propagate a chart of accounts hierarchy to the Essbase cube?
A) Define the hierarchy, then deploy the chart of accounts. The chart of accounts hierarchies will be generated automatically.
B) Define the hierarchy, make sure the tree is active, and the Publish check box is selected for the hierarchy.
C) Define the hierarchy and make sure the tree is active. The hierarchy will be system generated for
D) Define the hierarchy, make sure the tree version is active, and then run the publish account Hierarchies program or the Publish Chart of Accounts Dimension Members and Hierarchies
5. Your foreign currency transactions need to be revalued every month. For balance sheet accounts, you reverse the revaluation journals in the next period. You are using the period-to-date (PTD) method of revaluation tor your income statement accounts.
When should you reverse revaluation journals, if at all required?
A) Reverse them in the same period as the revaluation run.
B) The reversals must be done at the end of each quarter.
C) Never, because each period's revaluation adjustment is just for that period.
D) Both balance sheet and income statement revaluation journals should be reversed in the period.
Solutions:
| Question # 1 Answer: B,D | Question # 2 Answer: A | Question # 3 Answer: B | Question # 4 Answer: D | Question # 5 Answer: D |

