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Oracle EBS R12: General Ledger and Receivables Fundamentals

Question No: 41 – (Topic 0)

Select four key system options in Oracle Receivables that are related to customers. (Choose four.)

  1. default country

  2. receipt method

  3. automatic site numbering

  4. create reciprocal customer

  5. customer credit classification

  6. automatic customer numbering

  7. allow payment of unrelated transactions

Answer: C,D,F,G

Question No: 42 – (Topic 0)

Your customer ABC Inc., has headquarters in San Diego, California. The billing function is performed in St. Louis, Missouri. It has a plant in Baltimore, Maryland, a warehouse in Richmond, Virginia, and an assembly line in Nashville, Tennesse.

John Thomas, plant supervisor at Baltimore, orders equipment from you to be shipped to the assembly line in Nashville. Later, the assembly line in Nashville will send the equipment to the warehouse in Richmond.

Identify the state sales tax to apply to this invoice.

  1. Virginia

  2. Missouri

  3. Maryland

  4. California

  5. Tennessee

Answer: E

Question No: 43 – (Topic 0)

Select two actions that ledger sets permit. (Choose two.)

  1. performing variance inquiries

  2. being used for mass budgets

  3. sending budget balance inquiries

  4. viewing account balances for multiple ledgers in one view

  5. grouping multiple ledgers that share the same chart of accounts and calendar

Answer: D,E

Question No: 44 – (Topic 0)

Flavour Inc. in the United Kingdom has a subsidiary in India known as Spices Inc. Flavour Inc. has a four-segment chart of accounts, whereas Spices Inc. has a five-segment chart of accounts. Select three statements that apply to consolidating ledgers with different charts of accounts. (Choose three.)

  1. Only one action can be defined per parent segment.

  2. Consolidations based on account rules process faster.

  3. Consolidations based on segment rules process faster.

  4. Segment rules override account rules if there is any conflict.

  5. A segment rule action must be defined for each segment in the parent chart of accounts.

Answer: A,C,E

Question No: 45 – (Topic 0)

Which two are true about elimination? (Choose two.)

  1. You can define balancing options for eliminating entries.

  2. You can define an elimination set to contain one elimination entry.

  3. Currency is an optional component when defining an elimination set.

  4. You must specify an elimination company in the Elimination Sets window.

Answer: A,B

Question No: 46 – (Topic 0)

Party Merge provides the capability to merge parties and their related entities in the Oracle Trading Community Architecture (TCA) Registry, thereby eliminating duplicate data in the Registry. Select four entities that can be successfully merged using the Party Merge functionality. (Choose four.)

  1. You can merge bill-to sites with bill-to sites.

  2. You can merge bill-to sites with ship-to sites.

  3. You can merge individuals with individuals.

  4. You can merge individuals with organizations.

  5. You can merge organizations with organizations.

Answer: A,C,D,E

Question No: 47 – (Topic 0)

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

  1. You can define account rules.

  2. You can define segment mapping rules.

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

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

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

Answer: A,B,E

Question No: 48 – (Topic 0)

Select three criteria that are required to assign multiple legal entities to the same accounting setup. (Choose three.)

  1. have similar ledger processing options

  2. open and close periods simultaneously

  3. have tax requirements that are specific for a legal entity

  4. require autonomous document sequencing for a legal entity

  5. operate in a country that allows multiple legal entities to share the same primary ledger and ledger attributes

Answer: A,B,E

Question No: 49 – (Topic 0)

You have transferred, closed, and reconciled all subledgers. The sales manager informs you about a material transaction that was completed on the last business day of the closing period. Select the best option in this situation.

  1. ignoring the transaction in the current period

  2. opening the subledger to enter the transaction

  3. reversing the prior postings and retransferring data from the subledgers

  4. recording a manual accrual journal in the current period and reversing the journal in the next period

Answer: D

Question No: 50 – (Topic 0)

You are using the Event Based Revenue Management business rule for revenue recognition. Your company is on the calendar month for financial reporting.

On April 12th of the current year, a customer invoice of $1000 is imported. It has an acceptance clause of 60 days and a cancellation clause of 120 days.

On April 28th of the current year, a receipt of $1000 is applied against this invoice. You would recognize revenue of $1000 in the month of .

  1. April

  2. May

  3. June

  4. July

  5. August

Answer: E

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