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

1. Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses is Australia, New Zealand, and Singapore with a ledger in each country with a Corporate Chart of Account instance that has four segments. Which three statements are true regarding the creation of a control budget?

A) Control Budget are always absolute to generate encumbrance accounting.
B) The control Budget structure has all the chart of accounts segments as budget segments.
C) A Control Budget Can be associated with a different calendar than accounting calendar.
D) A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand and Singapore.
E) A Control Budget can allow override rules only if the control level is absolute.

2. You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What so you need to enable?

A) Nothing. All report balances are drillable in all FR Studio reports
B) Allow Expansion
C) Report Functions
D) Drill Through in Grid Properties

3. Journal Description Rules are assigned to Subledger Journal Entry Rule Sets. What are the other three subcomponents of a Subledger Journal Entry Rule Set? (Choose three.)

A) Account Rules
B) Journal Line Rules
C) Chart of Accounts
D) Accounting Date
E) Supporting References

4. You are required to change today's daily rates for converting GBP to USD. What are three ways in which you can update existing daily rates

A) Edit existing transactions and update the rates manually
B) Import daily rates through the Daily Rates open interface table
C) Use the spreadsheet loader from the Currency Rates Manager
D) Update rates manually using the Currency Rates Manager, which can be accessed from the Functional Setup Manager or the General Ledger's Period Close work area
E) Update rates manually using the Currency Rates Manager, which can be accessed only from the Functional Setup Manager

5. You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment. What does Oracle's recommended method to define this chart or accounts?

A) Define two different charts of accounts.
B) Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance.
C) Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level.
D) Define the company segment only and qualify it as both the primary balancing segment andintercompany segment.

Solutions: