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Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

1. Identify the two steps that must be completed when performing Accounting Configuration

A) Create Reporting Currencies
B) Create Primary Ledgers
C) Create Legal Entities
D) Open First Period

2. How do you identify errors in the accounting calendar?

A) A calendar with errors can NOT be saved.
B) An error messageisdisplayed when you enter a new calendar or change data on an existing calendar
C) Run the Create Accounting Process.
D) Run the Transaction Calendar Concurrent Process.

3. Which three types of objects can be created in Allocation Manager?

A) Rule Sets that contain sets of rules that can be calculated sequentially
B) Complex computations based on different variables to automatically calculate allocated amounts.
C) Journal formulas grouped together and executed sequentially to update account balances step by step
D) components that contain formulas, points of view, or allocation Objects
E) Rules that contain components, such as points of view, formulas, and templates

4. Invoices received from a source system need to use a specific account based on 30 different expense types. However, if the invoice is from a specific supplier type, it needs to go to a default account regardless of the account type. What is the solution?

A) Create an Account Rule with two rule elements using one for expense type mapping and the other for condition of supplier type.
B) Create two journal line rules with a condition of supplier type.
C) Create an Account Rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other without any conditions.
D) Create an Account Rule with 31 rule elements using one condition for each expense type; and another for supplier type.

5. Changing a Fusion Intercompany system option would______________.

A) will be retroactive and include historical transactions
B) take effect only on new transactions going forward
C) take effect on new, existing, and transactions in progress
D) be effective on transactions in progress
E) impact both new and transactions in progress

Solutions: