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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. Which three objectives must be considered when designing the chart of accounts?

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

2. 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 real-time transactions and all others are based on Historical data.
B) 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.
C) There is no difference.
D) The "Real time" subject areas are based on sub ledger transactions and all others are based on general ledger balances.

3. Alter submitting the journal for approval, you realize that the department value in the journal incorrect. How do you correct the value?

A) Update the journal through workflow
B) Click the Withdraw Approval button in the Edit Journals page and edit the journal.
C) Delete the journal and create a new journal.
D) Reverse the journaland create a new one.

4. Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries.
What is Oracle's recommended best practice when implementing; a new chart of accounts? How many segments and what segment qualifiers should be used?

A) Define four segments for the company, department, natur.il account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, and intercompany segment, respectively.
B) Define three segments for the company, department, and natural account. The qualifiers shouldbe primary balancing segment, cost center segment, and natural account segment, respectively
C) Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.
D) Define three segments tor the company, department, and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.

5. You want to enter budget data in Fusion General Ledger. Which method is not supported?

A) Application Development Framework Desktop Integration (ADFdi)
B) File-based Data Import
C) Smart View
D) Entering budget Journals

Solutions: