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Oracle EBS R12.1 General Ledger Essentials

Question No: 151 – (Topic 2)

ABC Company in India imports baking equipment from XYZ Company in the USA. There is an outstanding invoice of $1,000,000 to be paid in two months. The USD-to-INR rate when the transaction was done was 47.5. Now the USD-to-INR rate has changed from 47.5 to

40.5. Jack, who is a treasury analyst at ABC Company, reviews the transactions and comes to a conclusion. Select two correct conclusions arrived upon by Jack. (Choose two.)

  1. XYZ Company is not impacted at all by this rate change.

  2. XYZ Company has a positive impact by this rate change.

  3. ABC Company is not impacted at all by this rate change.

  4. ABC Company has a positive impact by this rate change.

Answer: A,D

Question No: 152 – (Topic 2)

ABC.com, the GL accountant comes to you and says that she has defined two budgets, but after selecting the budget organization in the Enter Budget Amounts form, she can select only one budget from the list of values (LOV). What is your response?

  1. Budget status is Current.

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

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

  4. Accounts need to be reassigned to the budget organization.

Answer: B

Question No: 153 – (Topic 2)

ABC.com has decided on a chart of accounts structure that consists of four segments: Company – Cost Center – Account – Sub Account. It has one company value only, and wants to have the ability to restrict (limit the appearance of) the lists of Account values and Sub Account values for some cost centers. What are the design option would meet Newco Inc.#39;s requirement?

  1. Define a value set with Independent validation for each of the three segments: Cost Center, Account and Sub Account. Deselect Dynamic Inserts for the accounting flexfield structure and define all possible code combinations that are desirable for the specified cost centers.

  2. Define a value set with Independent validation and Non-Hierarchical Security for each of the three segments: Cost Center, Account and Sub Account. Enable security for all three segments and define security rules to restrict lists accordingly.

  3. Define a value set for Cost Center with Independent validation and Non-Hierarchical Security. Define a value set for Account with Dependent validation that depends on Cost Center. Define a value set for Sub Account with Dependent validation that depends on Account. Enable security for the Cost Center segment and define security rules to restrict list accordingly

Answer: B

Question No: 154 – (Topic 2)

Identify three setup options that are defined in the Financial Options window. (Choose three.)

  1. interest

  2. retainage

  3. miscellaneous

  4. expenses clearing

  5. expense AP accrual account

Answer: B,C,D

Question No: 155 – (Topic 2)

Identify two types of inquiries that are possible on ledger sets. (Choose two.)

  1. variance inquiry

  2. summary template and summary account inquiries

  3. a budget balance inquiry to view the budgeted figures

  4. an account inquiry on ledger sets to view actual accounts balances across multiple ledgers that are assigned to a ledger set

  5. an account inquiry on ledger sets to view encumbrance account balances across multiple ledgers that are assigned to a ledger set

Answer: D,E

Question No: 156 – (Topic 2)

Which action is part of the Projects tieback process?

  1. Validates the account combination.

  2. Balances the journal entry.

  3. Interfaces cost to the General Ledger.

  4. Updates cost distribution lines.

Answer: D

Question No: 157 – (Topic 2)

Revenue accounts can be viewed only by the head of the Finance team, who has a GL Superuser responsibility. She has successfully created a standard Profit and Loss statement for the company. Another member of the department with a General Ledger Supervisor responsibility has been asked to run the standard Profit and Loss statement for Feb-06. The report shows only the expenses accounts. Which two steps should she perform so that the Profit and Loss statement will run successfully? (Choose two.)

  1. Perform an on-line inquiry to get the revenue balances.

  2. Recreate the Profit and Loss under her own responsibility.

  3. Ask to have the profile option FSG: Enforce Segment Value Security changed to No.

  4. Ask to have security removed from her responsibility.

Answer: C,D

Question No: 158 – (Topic 2)

Select two restrictions that apply to consolidating budget balances. (Choose two.)

  1. If the source and target budgets share the same calendar, you must consolidate a specific period to a specific period.

  2. If the source and target budgets share the same start period, you must consolidate a specific period to a specific period.

  3. If the source and target budgets do not share the same ledger, you must consolidate a specific period to a specific period.

  4. If the source and target budgets do not share the same calendar, you must consolidate a specific period to a specific period.

  5. If the source and target budgets do not share the same start period, you must consolidate a specific period to a specific period.

Answer: D,E

Question No: 159 – (Topic 2)

In the course of implementing Oracle General Ledger, you and your customer have created a number of Financial Statement Generator reports in a test environment. These reports have been tested and you are now ready to create them in your production environment.

You are ready to run the FSG Transfer program. What two requirements are necessary to run this program? (Choose two.)

  1. Database links must be defined.

  2. The same ledgers must be defined in both instances.

  3. Enable the FSG: AutoCopy profile option in the production environment.

  4. The same row and column sets must exist in the production environment.

Answer: A,B

Question No: 160 – (Topic 2)

Select three activities that must be performed to complete the setup of the key accounting flexfield. (Choose three.)

  1. Create aliases.

  2. Define a value set.

  3. Define security rules.

  4. Define an account structure.

  5. Define valid segment values.

  6. Create account combinations.

Answer: B,D,E

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