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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. What is the most efficient way to add a new year to the accounting calendar?

A) The application automatically populates the next year when you open the first period a new fiscal year.
B) Use the Add Year button
C) Add the periods manually
D) Import the periods from a spreadsheet

2. Your new accountants have been making mistakes in reconciling accounts assigned to them. Yourbalances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation.
What feature can you use to be proactively notified of account anomalies in a more timelymanner?

A) Account Inspector and its charts
B) Account Monitor
C) Financial Reports with Embedded charts
D) Smart View

3. What Is Oracle Essbase?

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

4. You lust submitted the Accounting Configuration. Which two statements are correct?

A) Verify the data roles created and assign them to the General Ledger users.
B) A Data Access Set with full read/write access to the ledger is automatically created.
C) Open the ledger's period to begin entering transactions.
D) You must define a Data Access Set to obtain full read/write access to the ledgers in the Accounting Configuration.

5. Your customer is having issues transferring intercompany transactions to General Ledger..
Identify three reasons for this.

A) The intercompany period is closed.
B) If they are different, then the exchange rate is missing between the intercompany and ledger currency.
C) Both the intercompany and general ledger periods are open.
D) The corresponding Payables and Receivablesinvoicehave not been generated.
E) The intercompany transaction is not approved.

Solutions: