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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. You want to monitor the dose process of all your financial subledgers and ledgers.
How can you quickly obtain this information?

A) Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period.
B) Use Close Monitor in General Accounting Dashboard.
C) Use the Manage Accounting Periods page to view the status of all subledgers and ledgers.
D) Run Closing Status reports.

2. You defined a tree or hierarchy, but you are unable to set its status to Active.
What is the reason?

A) Chart of accounts was not deployed.
B) Two tree versions were not defined
C) An Audit process needs to be successfully performed before a tree version can be set to Active.
D) Accounting Configuration was not submitted-

3. Your customer has a large number of legal entities. The legal entity values are defined in the company segment and the primary balancing segment. They want to easily create eliminating entries for the intercompany activity.
What should you recommend?

A) Define an intercompany segment in the chart of accounts. The Intercompany module and the intercompany balancing feature in general ledger and sub ledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading.
B) Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment.
C) There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.
D) There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the Intercompany rules you define.

4. You want to be notified of anomalies in certain account balances in real time. What is the rnost efficient way to do this?

A) Use Account Inspector.
B) Open a Smart View file saved on your desktop.
C) Create an Account Group using Account Monitor.
D) Perform an account analysis online.

5. When working with Essbase, versions of the tree hierarchy as defined in the Fusion not available in the Essbase balances cube.
What should you do to correct this situation?

A) Make sure the tree version was published successfully.
B) Redeploy the chart of accounts.
C) Make sure to flatten the rows of the tree version.
D) Make sure the tree is active.

Solutions: