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Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

1. Your customer is planning to have three balancing segments for generating balance sheets and income statements at cost center segment and program segment level Which two recommendations would you give your customer?

A) When entering journals manually, the customer will need to make sure that debits and credits
B) Additional intercompany balancing and clearing options will need to be defined. Z
C) Every journal where debits do not equal credits across the three balancing segments will need
D) Additional intercompany rules will need to be defined for the two additional balancing segment

2. What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availibility? (Coose two)

A) The requisition reserved successfully undergoes amendment and is rejected in the reapproval
B) When the purhcase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the budget to the extent of the unbilled amount.
C) When the purhcase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the budget to the extent of the unreceived amount.
D) The Purchase order is canceled or finally closed or rejected without performaing any receipt or invoice

3. Your ledger currency is USD. At month end you have a balance on the Accounts Payable Line of 100,000 Euros which is equivalent to USD 136,550 The month end exchange rate Is 1 Euro = 1.3755 USD What two statements are true for the resulting revaluation run?

A) The original Journal entry in Euros remains the same.
B) You have an unrealized exchange gain recorded.
C) The original journal entry in Euros is Updated,
D) There is no unrealized exchange gain or loss calculated
E) You have an unrealized exchange loss recorded.

4. Which three objectives must be considered when designing the chart of accounts? (Choose three.)

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

5. Which three reporting tools are based on real-time data or balances?

A) Oracle Transactional Business Intelligence (OTBI)
B) Smart view
C) Oracle Business Intelligence Applications (??IA)
D) Business Intelligence Publisher (BI Publisher)
E) Oracle Financial Reporting (FR)

Solutions: