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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. What Is Oracle Essbase?

A) A multidimensional Online Analytical Processing (OLAP) server that is embedded in Fusion GeneralLedger
B) A relational database
C) A robust reporting and analysis tool
D) A data ware house

2. All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting.
What does Oracle consider the best practice approach to performing consolidations?

A) Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar,currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then create a ledger set across all ledgers and report on the ledger set.
B) Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to theparent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
C) Use Oracle Hyperion Financial Management for this type of complex consolidation.
D) Use General Ledger's Financial Reporting functionality to produce consolidated reports bybalancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment.

3. What's the difference between subject areas that append the word "Real Time" and those that do not?

A) The "Real time" subject areas are based on sub ledger transactions and all others are based on general ledger balances.
B) The "Real Time" subject areas are based on real-time transactions and all others are based on Historical data.
C) The "Real Time" subject areas are based on real-time transactions in Fusion Applications, and all others are based on data stored in the Oracle Business Intelligence Applications data warehouse.
D) There is no difference.

4. You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results.
What does Oracle consider best practice when this occurs?

A) Translate only the adjusting journal entry.
B) Enter another adjusting journal entry in the currency to true up the balances.
C) Rerun Revaluation and then rerun Translation
D) Rerun Translation and then reconsolidate your result

5. You are creating financial statements and want to have charts, such as a bar graph, automatically inserted to improve the understanding of the financial results.
What's the most efficient way to achieve this?

A) Use Smart View, which is and Excel Add-on
B) When viewing the report, download to Excel and use Excel's Charting features to create your bar graph.
C) When designing your financial statement using Financial Report (FR), embed a chart into your report
D) Use Account Inspector that automatically creates graphs on financial balances.

Solutions: