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Oracle EBS R12.1 General Ledger Essentials

Question No: 191 – (Topic 2)

ABC.com is a national company with five divisions that share the same set of books. Select the statement that best describes the consolidation process for ABC.com.

  1. Enter eliminating journals and run financial reports.

  2. Run revaluation and translation, transfer data and run financial reports.

  3. Transfer data and run financial reports.

  4. Run revaluation, translation, and eliminations; transfer data and run financial reports.

  5. Run translations, transfer data and run financial reports.

Answer: A

Question No: 192 – (Topic 2)

Identify the three reports that can be processed using the State Controller window. (Choose three.)

  1. Consolidation Audit

  2. Consolidations Journal

  3. Consolidation Financial

  4. Consolidation Exceptions

  5. Consolidation Balance Inquiry

Answer: A,B,D

Question No: 193 – (Topic 2)

All of the manual journal entries are defaulting to a non current period. Which step was omitted from the accounting cycle?

  1. Translated Foreign Balances

  2. Reverse Journal Entries

  3. Consolidate Financials

  4. Post Journal Entries

  5. Update Period

Answer: E

Question No: 194 – (Topic 2)

What does the elimination program enable you to do? (Choose all that apply.)

  1. eliminate average balances

  2. eliminate intercompany balances for fully reciprocating elimination that repeat every accounting period

  3. create journal entries for all values in the source account to zero them out and post them to a target account

Answer: B,C

Question No: 195 – (Topic 2)

Your manager has asked you to create a period close process that maximizes the efficiency of your two staff members and minimizes the number of closing days. Identify two sets of subledgers that can be closed concurrently. (Choose two.)

  1. Projects and Payables

  2. Order Management and Projects

  3. Payables and Receivables

  4. Inventory and Receivables

  5. Payables and Assets

Answer: B,C

Question No: 196 – (Topic 2)

Which three functions can the Payables Accounting Process perform? (Choose three.)

  1. transfers data to the interface table

  2. runs the journal import

  3. validates distribution lines

  4. creates accrual entries

  5. creates accounting entries

Answer: A,B,E

Question No: 197 – (Topic 2)

Isa Global Inc. is based in the United States with divisions in Europe and Asia. All journal imports, recurring journals, mass allocations, and manual journal entries have been posted for their European subsidiary. What is the next logical step in the period-close process?

  1. opening the next period

  2. closing the current period

  3. revaluing foreign currency balances

  4. translating to the functional currency

  5. consolidating to the parent set of books

Answer: C

Question No: 198 – (Topic 2)

Which three statements are true about mapping rules? (Choose three.)

  1. The Subsidiary set of books and Parent set of books must have the same chart of accounts to use segment-mapping rules.

  2. You can define account rules.

  3. You can define segment rules instead of account rules for faster processing.

  4. You can define segment mapping rules.

  5. You can modify your rollup rule after it has been saved.

  6. You can define segment or account rules, but not a combination of both.

Answer: B,C,D

Question No: 199 – (Topic 2)

Select three statuses of the consolidation workbench. (Choose three.)

  1. posted

  2. entered

  3. exported

  4. reversed

  5. transferred

Answer: A,D,E

Question No: 200 – (Topic 2)

ABC.com runs the Program-Create Journals, after which the Create Journal Entries Execution Report is automatically created. Identify three components that the report Create Journal Entries Execution Report reports on. (Choose three.)

  1. Purchasing Encumbrance Entries

  2. Payables Encumbrance Entries

  3. Budget Journals

  4. Journal Posting Report

Answer: A,B,C

Topic 3, Volume C

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