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Oracle EBS R12.1 General Ledger Essentials

Question No: 91 – (Topic 1)

Your client would like a consolidation process to consolidate operations in the UK and US. Your client 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 your client? (Choose all that apply.)

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

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

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

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

Answer: A,B,C

Question No: 92 – (Topic 1)

ABC.com, the GL accountant, comes to you and says that he has defined the budget, and budget amounts have been entered and approved by management. After approval he wants his assistant accountants to NOT be able to update this budget. What is your response?

  1. If the client wants to do this, then customization of workflow is the only option.

  2. If the client wants to do this, then the budget status should be Current.

  3. If the client wants to do this, then the budget status should be Frozen.

  4. Oracle GL budget functionality cannot satisfy this requirement.

Answer: C

Question No: 93 – (Topic 1)

ABC.com has three companies in Canada, two companies in the United States, two companies in Singapore, and one company in Belgium. All the companies, except for one in Canada, have the same fiscal year-end calendar. ABC Enterprise wants to use a common chart of accounts structure globally and set up each company as a balancing segment value. What is the minimum number of sets of books that should be defined?

  1. 8

  2. 4

  3. 5

  4. 7

  5. 6

Answer: C

Question No: 94 – (Topic 1)

Oracle General Ledger provides a variety of ways to get information from reports and queries. What can you do using standard reports that you cannot do using on-line queries? (Choose all that apply.)

  1. group reports into report sets

  2. review T-Accounts

  3. view non-financial information

Answer: A,C

Question No: 95 – (Topic 1)

ABC.com, the GL accountant, is preparing a PowerPoint presentation for the accounting staff to explain the steps for creating mass allocation journal entries. Which five steps should Tess include in his presentation? (Choose five .)

  1. freeze accounting flexfield

  2. validate mass allocation definition

  3. create mass allocation definition

  4. post journal entries

  5. generate mass allocation journals

  6. review journal entries

  7. validate cross-validation rules

Answer: B,C,D,E,F

Question No: 96 – (Topic 1)

A manager at ABC.com wants to review the cash balance by company. He has asked you to create the summary account template. ABC.coms accounting flexfield has four segments:

Company (5 values) Cost Centers (30 values) Region (4 values)

Account (180 values)

The total number of cash accounts is 5, which are associated with 2 parents: 3 accounts are associated with the parent called Checking.

2 accounts are identified with the parent called Savings.

To combine the Cash parents, you created a rollup group named Cash. How many accounts would the summary account template generate?

  1. 2

  2. 40

  3. 10

D. 1,200

E. 240

F. 60

Answer: C

Question No: 97 – (Topic 1)

The Consolidation Workbench enables you to , , and . (Choose three.)

  1. access the State Controller

  2. create consolidations sets, which launch multiple consolidations in a single step

  3. create multilevel hierarchies, which you can view using the graphical Consolidation Hierarchy Viewer

  4. change the chart of accounts

Answer: A,B,C

Question No: 98 – (Topic 1)

What are the possible posting options in Oracle General Ledger?

  1. Post Journal batches individually Post multiple batches

    Use AutoPost

  2. Post Journal batches individually Post multiple journals

  3. Post multiple batches

    Post batches that meet specific criteria by submitting a concurrent request

  4. Post Journal batches individually Post multiple batches

Post batches that meet specific criteria by submitting a concurrent request and using

Journal Approval

Answer: A

Question No: 99 – (Topic 1)

What is true about the budgetary control summary account template#39;s indication that funds are available?

  1. It indicates that funds are available when the result is less than one, regardless of the balance type.

  2. When the summary account template is a Debit balance type, the amount is positive; when the template is a Credit balance type, the amount is negative.

  3. When the summary account template is a Debit balance type, the amount is negative; when the template is a Credit balance type, the amount is positive.

  4. It indicates that funds are available when the result is greater than one, regardless of the balance type.

Answer: B

Question No: 100 – (Topic 1)

ABC.com, the GL accountant, says that she has defined the budget and she wants her assistant accountants to enter and update budgets, but she does not want this budget to be the default budget. What is your response?

  1. If the client wants to do this, then the budget status should be Current.

  2. If the client wants to do this, then the budget status should be Open.

  3. The Oracle GL budget functionality cannot satisfy this requirement.

  4. If the client wants to do this, then customization of Oracle Workflow is the only option.

Answer: B

Topic 2, Volume B

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