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

1. How can your Accounting Manager expedite journal processing during the time-critical month-end close?

A) by running the Journals report using Business Intelligence Publisher
B) by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)
C) by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Other
D) by using the Close Status monitor to drill down on the close status across ledgers

2. Which two statements are true regarding how intercompany balancing rule, are defined? (Choose Two)

A) All Ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules
B) You can only define balancing rules for different journals sources. You cannot define balancing rules for different journal categories
C) You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types
D) you can define different rules for different chart of accounts, ledgers, legal entities, and primary balancing segment value.

3. Your ledger currency is USD. At month end you have a balance on the Accounts Payable Line of 100,000 Euros which is equivalent to USD 136,550 The month end exchange rate Is 1 Euro = 1.3755 USD What two statements are true for the resulting revaluation run?

A) The original Journal entry in Euros remains the same.
B) There is no unrealized exchange gain or loss calculated
C) The original journal entry in Euros is Updated,
D) You have an unrealized exchange gain recorded.
E) You have an unrealized exchange loss recorded.

4. You want to process multiple allocations at the same time. What feature do you use?

A) Rulesets
B) General Ledger Entries
C) Formulas
D) Point of View(POV)

5. While Creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created. Which two options explain that? (Choose Two)

A) The Account Rule's conditions are not defined
B) The Account Rule is defined with a different chart of Accounts from the Journal Entry Rule Set.
C) The Account Rule's Chart of Accounts have no account values assigned
D) The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set

Solutions: