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Q1. You want to prevent intercompany transactions from being entered during the last day of
What should you do?
A. Close all subledger periods.
B. Close Intercompany periods in Fusion Intercompany.
C. Freeze the Intercompany Journal source in General Ledger.
D. Close the General Ledger period in the Manage Accounting Periods page.
Q2. All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting.
What does Oracle consider the best practice approach to performing consolidations?
A. Use Oracle Hyperion Financial Management for this type of complex consolidation.
B. Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to theparent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
C. Use General Ledger’s Financial Reporting functionality to produce consolidated reports bybalancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment.
D. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar,currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then create a ledger set across all ledgers and report on the ledger set.
Q3. The Accounting Manager requests that a schedule be created to automatically post journals from subledgers at different times.
Which journal attribute should you use to set the automatic posting criteria?
A. Journal Category
B. Journal Source
C. Journal Batch
D. Journal Description
Q4. Your customer has many eliminating entries to eliminate intercompany balances. The General Ledge does not include a purpose-built Consolidation feature.
How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?
A. Use the spreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period.
B. Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period.
C. There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management.
D. Create a manual journal that includes the eliminating entries, and then create a copy of the Journal batch every period.
Q5. Which statement is true when creating an Implementation Project for Financials Cloud?
A. The Implementation Project is preconfigured and cannot be deleted or changed.
B. Plan your implementation project carefully because you cannot delete it or make changes later.
C. You must select the Offering "Financials," and each individual product or option to perform the setup for each product in Financials Cloud.
D. Selecting the Offering "Financials," automatically allows you to perform the setup for all Financials Cloud products.
E. You only need to make the project name unique, then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management and Supply Cham Management.
Q6. Which three objectives must be considered when designing the chart of accounts?
A. Effectively manage an organization's financial business.
B. Consider implementing a single, global chart of accounts
C. Anticipate growth and maintenance needs as organizational changes occur.
D. Limit the number of segments to those you need today to reduce data entry.
E. Try to use all 30 segments and 25 characters per segment because you cannot change It later.
Q7. Alter submitting the journal for approval, you realize that the department value in the journal incorrect. How do you correct the value?
A. Delete the journal and create a new journal.
B. Update the journal through workflow
C. Click the Withdraw Approval button in the Edit Journals page and edit the journal.
D. Reverse the journaland create a new one.
Q8. You create a prepayment for USD l00 and validate it to consume the budget and reduce available funds under the prepayment account. You then pay the prepayment of USD 100 create an invoice for USD 300, and validate the* invoice to consume the budget and reduce available funds for the expense-accounts used in the invoice. You then apply the prepayment fully on to the invoice and revalidate it.
What happens to the available funds when you apply a prepayment that requires budgetary control?
A. The prepayment application was already released at the time of payment and the invoice consumes funds of 300 USD.
B. The prepayment application releases funds of 200 USD ^nd the invoice consumes funds of lOO USD, with a net decrease to available funds of 200 USD.
C. Available funds will not change till invoice is approved.
D. The prepayment application releases funds of lOO USD and the invoice consumes funds of 300 USD, with a net decrease to available funds of 200 USD.
E. The prepayment application releases funds of 300 USD and the invoice consumes funds of 300 USD, with a net decrease to available funds of 100 USD.
F. The budget will be released only foi the USD 30O invoice amount.
Q9. You are implementing Financials Cloud and are using spreadsheets to load Legal Entities, Business Units, and Account Hierarchies.
Which three setup objects can be loaded via a spreadsheet from Functional Setup Manager?
A. complete Accounting Configuration
B. Suppliers and Customers
C. Banks, Bank Accounts, and Branches
D. chart of account values, accounting calendar, and ledger
E. setup data for Receivables and Payables product.
Explanation: https://docs.oracle.com/cloud/latest/financialscs_gs/FACSF/FACSF1004386.htm#FACSF1 236038
Q10. You've set up the standard accrual with encumbrance accounting for your ledger and you realized that the encumbrance journals are defaulting with current date as the accounting date.
What is causing this?
A. The subledger accounting option Is set to system date.
B. The actual accounting date was set up under the encumbrance accounting Default Date Rule.
C. The system date was set up under the encumbrance accounting Default Date Rule.
D. The current transaction accounting date was set up under the encumbrance accounting Default Date Rule.
E. The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule.