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Oracle EBS R12.1 General Ledger Essentials

Question No: 1 – (Topic 1)

Your subledger accountants are attempting to import their journals to the general ledger at the end of the period. The journal import processes are completing with a warning and no journals are being generated. Which three steps would you take to troubleshoot this condition? (Choose three.)

  1. Resend the transactions from the subledgers.

  2. Delete the related data on the GL interface table.

  3. Confirm that data was sent from the subledger.

  4. Verify the output of the Journal Import request

  5. Run journal import with all group IDs.

Answer: C,D,E

Question No: 2 – (Topic 1)

You are implementing Oracle General Ledger at a ABC.com site. ABC.com is based in the US but has a presence in many countries worldwide, and has transactions in multiple currencies. The implementation team decides that GL multicurrency setup will be part of the implementation. The Controller wants a system which allows the flexibility to enter transactions in any foreign currency, and at the same time automatically performs currency conversion online and in real time. She wants to know whether this requirement could be satisfied. What is the correct response?

  1. Account generator needs to be customized for journals to be entered in foreign currency.

  2. Oracle GL provides this functionality and there is no problem in satisfying the requirement.

  3. Workflow needs to be customized for journals to be entered in foreign currency.

  4. Oracle GL does not support this functionality.

Answer: B

Question No: 3 – (Topic 1)

ABC.com would like a consolidation process to consolidate operations in the UK and US.

ABC.com requires a summary of transactions from both companies. Company 01 is located in Chicago; Company 02 is located in London. Both companies share only the same calendar. Which actions should be considered when defining the consolidation process for ABC.com? (Choose all that apply.)

  1. Define a consolidation process using the Global Consolidation System by defining Parent Company 90 to consolidate data from Company 01 and Company 02.

  2. Select the transaction method for transferring data from Company 01 to Company 90.

  3. Define an elimination set to include a group of related elimination entries.

  4. Define mapping rules to map Company 01 and Company 02 to Company 90.

Answer: A,C,D

Question No: 4 – (Topic 1)

Joe is the controller of ABC.com, your client. He is anxious to see you demonstrate the basic functionality of General Ledger with a set of books that somewhat reflects his company#39;s business. Tell him the minimum four pieces of information you need from him, to create a set of books for your demonstration. (Choose four.)

  1. number of accounting periods

  2. accounting calendar with periods and fiscal year end

  3. currencies that his company has transactions in

  4. currency conversion rates

  5. suspense account

  6. retained earnings account

  7. intercompany account

  8. company organization structure for Chart of Accounts

  9. encumbrance account

  10. the base (functional) currency of his company

Answer: B,F,H,J

Question No: 5 – (Topic 1)

One of your ABC.com co-workers, Tim, is working to define and develop Financial Statement Generator reports where the budget amounts and actual amounts would display on the report per period. Tim comes to you and says that he has defined an FSG report according to the client#39;s requirements; the actual amounts are correctly shown, but the problem is that budget amounts are not showing up on the report. What is your response?

  1. Budget status is Frozen.

  2. The budget name needs to be associated with the row set through control values.

  3. There is some issue with the assignment of accounts to the budget organization.

  4. The first fiscal year of the budget was never opened.

  5. The last fiscal year of the budget is Closed.

Answer: B

Question No: 6 – (Topic 1)

When you change a summary account template funds check level from None to Advisory or Absolute, you need to .

  1. delete the original template and then recreate it for the appropriate funds check level

  2. complete the required data on the template for the new funds check level

  3. do nothing else; no additional work is needed

  4. change the time period on the template to Earliest Period to identify the begin date of the new funds check level

Answer: A

Question No: 7 – (Topic 1)

ABC.com is implementing Oracle E-Business Suite 11.5.10. It wants to use a global chart of accounts. It has business operations in Canada, the United States, France, and Spain. You are told that both France and Spain require Document Sequencing whereas Canada and the United States do not. There are three legal entities in Canada, four in the United States, two in France, and two in Spain. All legal entities have the same fiscal year end. Advise the DBI Enterprise corporate controller what is feasible, in order to set up the minimum number of set of books, without customization.

  1. 1 set of books for Canada, 1 for the U.S. and 1 for France and 2 for Spain. Install and set up Global Accounting Engine for France and Spain sets of books.

  2. 1 set of books for Canada, 1 for the U.S. and 2 for France and 1 for Spain. Enable Document Sequencing for France and Spain sets of books.

  3. 1 set of books for Canada, 1 for the U.S. and 2 for France and 2 for Spain. Enable Document Sequencing for France and Spain sets of books.

  4. 1 set of books for Canada, 1 for the U.S. and 1 for Europe. Enable Document Sequencing for Europe set of books only.

  5. 1 set of books for Canada, 1 for the U.S. and 1 for Europe. Install and set up Global

Accounting Engine for Europe.

Answer: C

Question No: 8 – (Topic 1)

ABC.com#39;s GL accountant is responsible for taking care of recurring journals. She comes to you with a problem: she ran the Generate Recurring Journal program before the AP and Payroll entries had been posted to GL. As a result, the recurring journal entries created are incorrect. She has not yet posted the generated recurring journal, and wants to know whether she can generate it again. The Sequential Numbering profile option is set to Partially used. What response do you offer?

  1. Generate this recurring journal in the previous period.

  2. It is not possible under this scenario to regenerate the recurring journal.

  3. Generate this recurring journal in the next period.

  4. Delete the first generated recurring journal and generate it again.

  5. Generate the recurring journal again, because it has not been posted yet.

Answer: D

Question No: 9 – (Topic 1)

You are implementing Oracle General Ledger at ABC.coms site. ABC.com is based in the US but has a global presence in many countries worldwide, and has transactions in multiple currencies. The implementation team decides that GL multi currency setup will be part of the implementation. The GL accountant approaches you to discuss multiple reporting currencies (MRC); he wants to implement MRC and link the primary set of books with the reporting set of books. Additionally, he says that the primary and reporting sets of books all have different calendars but share the same chart of accounts. What response do you provide?

  1. The primary and reporting set of books must share the same calendar and chart of accounts.

  2. There is no problem in satisfying this requirement.

  3. The primary and reporting set of books must share the same currency and chart of accounts.

  4. The primary and reporting set of books must share the same calendar, currency and chart of accounts.

Answer: A

Question No: 10 – (Topic 1)

ABC.com has two diverse business operations in retail stores and services. It has five legal entities in Canada and five in the United States for both operations. The fiscal year end is the same for all the legal entities with 12 monthly periods. However, ABC.com wants to use a 4-5-4 accounting calendar for its retail operations and a calendar-month accounting calendar for the services operations. ABC.com also wants to use a single chart of accounts structure. Which five items must ABC.com define to meet the minimum setup steps that are required for the sets of books for all legal entities? (Choose five.)

  1. two accounting calendars

  2. four sets of books

  3. three sets of books

  4. two sets of books

  5. chart of accounts structure

  6. period types or use seeded ones

  7. one accounting calendar

  8. enable seeded CAD and USD currencies

  9. account combinations

Answer: A,B,E,F,H

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