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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. Which two types of journals can be automatically routed through the journal approval process?

A) Revaluation journals
B) Journals imported from third-party systems
C) Allocation journals
D) Sub ledger journals
E) Manual journals

2. Most of the accounting entries for transactions from your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.
At what level can you override the default accounting attribute assignment?

A) Event Type
B) Journal Entry
C) Journal Entry Rule Set
D) Event Class
E) Journal Line Rule

3. What are the two benefits of having the Essbase cube embedded in Fusion General Ledger?

A) Posting performance is much faster.
B) Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules.
C) You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts.
D) You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously.
E) General ledger balances are multidimensional, allowing you to perform robust reporting and analysis.

4. Your company wants to change the Cumulative Translation Adjustment (CTA) account to record gains/losses from varying currency rates.
What steps must you perform to achieve this objective without causing data corruption?

A) Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use.
B) Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.
C) Query the Translation journals and delete all of them, then change the CTA account in the Ledger page, and rerun Translation for all periods required.
D) Open the Ledgers page and update the CTA account and then rerun Translation for all periods required. The system will automatically update the translated balances.

5. Which statement is true when creating an Implementation Project for Fusion Financials?

A) Plan your implementation project carefully because you cannot delete it or make changes later. E) The Implementation Project is preconfigured and cannot be deleted or changed.
B) You must select the Offering "Financials," and each individual product or option to perform the setup for each product in Fusion Financials.
C) Selecting the Offering "Financials," automatically allows you to perform the setup for all Fusion Financial products.
D) You only need to make the project name unique, then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management and Supply Chain

Solutions: