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Oracle EBS R12.1 General Ledger Essentials

Question No: 491 – (Topic 5)

To create a party paying relationship, the relationship type must be hierarchical and the party type must be .

  1. Child

  2. Parent

  3. Person

  4. Organization

  5. Person or organization

Answer: D

Question No: 492 – (Topic 5)

XYZ Company uses financial statement generator reports to produce profit and loss statements and balance sheet reports. Occasionally, XYZ Company needs to run a report

that is slightly different from the standard ones that have been created. Identify two types of changes the XYZ Company can make by using the Row Order feature to accomplish this need. (Choose two.)

  1. Adding a new calculation

  2. Sorting based on column values

  3. Displaying segment values and descriptions

  4. Changing how rounding options are performed

Answer: B,C

Question No: 493 – (Topic 5)

A receipt of $2,000 is received for an invoice that has $1,500 as the amount due. The remittance advice does not state a reason for the overpayment. Identify the receipt state that should be displayed.

  1. Applied

  2. Unapplied

  3. On-account

  4. Unidentified

  5. Partially applied

Answer: B

Question No: 494 – (Topic 5)

You have just opened the Transactions form. Which field would you see on this form?

  1. Company

  2. Legal entity

  3. Cost center

  4. Operating unit

Answer: B

Question No: 495 – (Topic 5)

Transaction numbering is set up using .

  1. System options

  2. AutoAccounting

  3. Transaction types

  4. Transaction sources

Answer: D

Question No: 496 – (Topic 5)

Identify two correct statements regarding a primary ledger. (Choose two.)

  1. Defining a primary ledger is not mandatory.

  2. A primary ledger is the main record-keeping ledger.

  3. Multiple legal entities can be linked to one primary ledger.

  4. Multiple primary ledgers can be linked to one secondary ledger.

  5. Multiple primary ledgers are required for one accounting setup always.

Answer: B,C

Question No: 497 – (Topic 5)

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

Question No: 498 – (Topic 5)

Select the setup task that you are required to perform in Receivables to manage tax calculations on invoices.

  1. Defining tax rules

  2. Defining AutoInvoice

  3. Defining AutoAccounting

  4. Defining tax registrations

  5. Defining Account Generator

Answer: C

Question No: 499 – (Topic 5)

ABC company and XYZ company are both customers. Last month XYZ company purchased ABC company. ABC company has hundreds of over-due invoices outstanding. According to the credit department, the layoffs at ABC, following the merger, are responsible for the over-due invoices.

Both ABC and XYZ companies are making frequent requests for reprinted invoices of ABC company. There will be no new business with ABC company. However, it will take another three months to respond to the numerous requests for reprinted invoices and ABC company will continue to be charged late fees. How should you handle the merger of ABC company and XYZ company in Oracle Receivables during your first month end after their merger?

  1. Inactivate ABC company.

  2. Place ABC company on credit hold.

  3. Invoice XYZ company for the invoices of ABC company.

Answer: B

Question No: 500 – (Topic 5)

Which statement is correct about the differences between the functionalities of parent accountsand summary accounts?

  1. Summary accounts cannot be used in budget formulas, whereas parent accounts can

    be used in budget formulas.

  2. Summary accounts speed up the posting process, whereas parent accounts require additional time for the Posting process.

  3. Summary accounts use the summing segment type for MassAllocations, whereas parent accounts use the looping segment type.

  4. Summary account balances can be viewed in the Account Inquiry form, whereas parent account balances cannot be viewed in that form.

  5. Summary accounts slow down the generation of Financial Statement Generators, whereas parent accounts help generate quicker results.

Answer: D

Topic 6, Volume F

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