1Z0-516 Oracle EBS R12.1 General Ledger Essentials Exam Set 3

In which three ways do sub-ledgers transfer information into General Ledger? (Choose three.)
A. Detail Journals
B. Line level records
C. Summary Journals
D. Balances
E. Batch Transfer


Options are :

  • A,C,E (Correct)
  • B,C,D
  • A,B,C
  • A,B,E

Answer : A,C,E

To review available Financial Statement Generator elements, which two reports would be helpful?


Options are :

  • Content Set Detail listing, Chart of Accounts - Rollup Detail Listing
  • Column Set Summary Listing, Row Set Detail Listing (Correct)
  • Content Set Detail Listing, Report Set Detail Listing
  • Column Set Detail Listing, Report Detail Listing

Answer : Column Set Summary Listing, Row Set Detail Listing

Which two statements correctly describe the translation process? (Choose two.)
A. The translation process allows you to translate only year-to-date amounts.
B. If you rerun the translation process, the process adds the additional data to the previous
translated amounts.
C. You can rerun the translation process more than once per period.
D. Translation for a subsidiary can be initiated from the parent using the State Controller Translate
button.


Options are :

  • B,D
  • A,C
  • C,D (Correct)
  • A,B

Answer : C,D

1Z0-517 Oracle EBS R12.1 Payables Essentials Practice Exam Set 4

ABC.com would like a consolidation process to consolidate operations in the UK and US. ABC.com 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 ABC.com? (Choose all that apply.)
A. Define a consolidation process using the Global Consolidation System by defining Parent Company 90 to consolidate data from Company 01 and Company 02.
B. Select the transaction method for transferring data from Company 01 to Company 90.
C. Define an elimination set to include a group of related elimination entries.
D. Define mapping rules to map Company 01 and Company 02 to Company 90


Options are :

  • B,C,D
  • A,C,D (Correct)
  • A,B,C
  • A,B,D

Answer : A,C,D

Your subledger accountants are attempting to import their journals to the general ledger at the end of the period. The journal import processes are completing with a warning and no journals are being generated. Which three steps would you take to troubleshoot this condition? (Choose three.)
A. Resend the transactions from the subledgers.
B. Delete the related data on the GL interface table.
C. Confirm that data was sent from the subledger.
D. Verify the output of the Journal Import request
E. Run journal import with all group IDs.


Options are :

  • A,D,E
  • B,C,D
  • A,B,C
  • C,D,E (Correct)

Answer : C,D,E

You set the GL: Journal Review Required profile option to Yes. What is the result?


Options are :

  • requires generated Auto allocation Journals to be reviewed before posting (Correct)
  • requires all Journals to be reviewed before posting
  • requires review of Recurring Journals before posting
  • requires review of journals belonging to identified categories before posting

Answer : requires generated Auto allocation Journals to be reviewed before posting

OCP Oracle 12C Advanced Administration(1Z0-063) Set 1

After you determine your needs and organize your summary account structure, which General Ledger tools can you use to define parent-child values and rollup groups?


Options are :

  • Analyzer Hierarchies, Account Hierarchy Manager or Account Hierarchy Editor (provided Applications Desktop Integrator is installed).
  • None
  • Mass Maintenance or Account Hierarchy Manager
  • Account Hierarchy Manager or Account Hierarchy Editor (provided Applications Desktop Integrator is installed). (Correct)
  • Mass Maintenance, Analyzer Hierarchies, or Account Hierarchy Manager

Answer : Account Hierarchy Manager or Account Hierarchy Editor (provided Applications Desktop Integrator is installed).

In the course of implementing General Ledger, you and your customer have created a number of Financial Statement Generator reports in a test environment. They have been tested and you are now ready to create these same reports in a production environment. You want to run the Financial Statement Generator transfer program. What is the minimum necessary to run this program? (Choose two.)A. Same set of books must be defined.
B. Same row and column sets must exist in production.
C. Database links must be defined.


Options are :

  • A,B
  • A,C (Correct)
  • B,C

Answer : A,C

Which rule has to be applied when using summary accounts to create a Mass Allocation journal?


Options are :

  • Constant (C) must be assigned to each roll up group used in the formula line. (Correct)
  • Looping (L) must be assigned to each roll up group used in the formula line, so that associated child values will be incorporated in the calculation.
  • Summary accounts cannot be used in the generation of mass allocation journals
  • Summing (S) must be assigned to each roll up group used in the formula line, so that the related child values will be summarized

Answer : Constant (C) must be assigned to each roll up group used in the formula line.

OCA Oracle Database 11g Administrator Certified Associate Set 3

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 .)
A. freeze accounting flexfield
B. validate mass allocation definition
C. create mass allocation definition
D. post journal entries
E. generate mass allocation journals
F. review journal entries
G. validate cross-validation rules


Options are :

  • A,B,D,F,G
  • B,C,D,E,F (Correct)
  • A,C,D,E,F
  • A,B,C,D,E

Answer : B,C,D,E,F

You are implementing Oracle General Ledger at a ABC.com site. ABC.com is based in the US but has a presence in many countries worldwide, and has transactions in multiple currencies. The implementation team decides that GL multi currency setup will be part of the implementation. John, a junior consultant helping you in the implementation effort, comes to you and says that he is testing the system and entering journals in US dollars, yen and euros. He says that he is able to enter the journals in US dollars and euros, but cannot enter the journals in Japanese yen. What possible explanation can you provide to John for this? 


Options are :

  • Daily rates have not been entered for yen
  • Yen currency has not been enabled (Correct)
  • Rate types have not been defined for yen.
  • Workflow needs to be customized for journals to be entered in yen.

Answer : Yen currency has not been enabled

Which two are true statements regarding elimination? (Choose two.)A. You must specify an elimination company in the Elimination Sets window.B. You can define balancing options for eliminating entries.C. You can define an elimination set to contain a single elimination entry.D. Currency is an optional component when defining an elimination set.


Options are :

  • A,D (Correct)
  • A,B
  • C,D
  • B,C

Answer : A,D

1Z1-574 Oracle IT Architecture Essentials Practice Exam Set 6

The clients GL accountant ABC.com comes to you with a problem. A journal cannot be posted because it has not been approved. The preparer cannot submit the journal for approval because the Approve Button is grayed out in the Enter Journals form, and the supervisor has not received a notification requesting the approval. What do you suggest as the possible cause for this problem?


Options are :

  • One of the GL account code combinations in the journal is invalid
  • The Profile option Allow Preparer Approval needs to be reset
  • Budgetary control has been enabled for the set of books, and funds have not been reserved for the journal (Correct)
  • Authorization limits have not been defined properly and the GL Period is closed.

Answer : Budgetary control has been enabled for the set of books, and funds have not been reserved for the journal

ABC.com wants to compare actual amounts against their budgeted amounts. Which reporting or query options would provide that detail? (Choose two.)
A. Trial Balance
B. Account Analysis
C. On-line Account Inquiry
D. On-line Budget Inquiry
E. Financial Statement Generator 



Options are :

  • A,B
  • A,C
  • C,D
  • C,E (Correct)

Answer : C,E

For each sub ledger there should be one _____.


Options are :

  • Journal Category
  • Journal Source (Correct)
  • Account Type
  • Journal Type

Answer : Journal Source

1Z0-520 Oracle EBS R12 Purchasing Essentials Practice Exam Set 4

Identify the two setups that control the defaulting of Tax Information on a journal entry. (Choose two.)
A. Set of Books
B. Journal categories
C. Account


Options are :

  • A,B
  • A,C (Correct)
  • B,C

Answer : A,C

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?


Options are :

  • If the client wants to do this, then the budget status should be Current.
  • Oracle GL budget functionality cannot satisfy this requirement.
  • If the client wants to do this, then customization of workflow is the only option.
  • If the client wants to do this, then the budget status should be Frozen. (Correct)

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

One of ABC.com's clients wants the ability to report with Financial Statements Generator (FSG) and perform account inquiry at the summary (business unit) level of its Cost Center segment. A business unit is a group of cost centers and a business unit manager typically has several cost centers under his or her responsibility. Which option will meet the client's requirements? 


Options are :

  • Define parent cost centers and a hierarchy of parent-child cost centers. Define Roll up Groups for the parent cost centers, and Summary Accounts. Create FSG based on the parent cost center values or Summary Accounts (Correct)
  • Define parent cost centers and a hierarchy of parent-child cost centers. Create Summary Accounts based on the parent cost centers. Create FSG based on the parent cost center values
  • Define parent cost centers and a hierarchy of parent-child cost centers. Define Roll up Groups for the parent cost centers. Create FSG based on the parent cost center values.
  • Define parent cost centers and a hierarchy of parent-child cost centers. Define Roll up Groups for the parent cost centers. Create FSG based on the Roll up Group

Answer : Define parent cost centers and a hierarchy of parent-child cost centers. Define Roll up Groups for the parent cost centers, and Summary Accounts. Create FSG based on the parent cost center values or Summary Accounts

OCP Oracle Database 11g Administrator Certified Professional Set 1

ABC.com wants to define a consolidation process for its enterprise. It has two sets of books: set of books A and Set of Books B.
Both sets of books will be defined in Oracle General Ledger. Set of books A will have three companies with the same chart of accounts as set of books B. Set of books A will have USD as its currency. Set of books B will have four companies with the same chart of accounts and different calendar as set of books A. Set of books B will have GPD as its currency. Which consolidation method would you recommend?


Options are :

  • Global Consolidation System (Correct)
  • Global Inter company System
  • Interface Data Transformer
  • Financial Statement Generator

Answer : Global Consolidation System

The Consolidation Workbench enables you to _____, _____, and _____. (Choose three.)
A. access the State Controller
B. create consolidations sets, which launch multiple consolidations in a single step
C. create multilevel hierarchies, which you can view using the graphical Consolidation Hierarchy Viewer
D. change the chart of accounts


Options are :

  • A,C,D
  • B,C,D
  • A,B,D
  • A,B,C (Correct)

Answer : A,B,C

Which report would provide information about the processing type (parallel or sequential) that may be defined for reports?


Options are :

  • Report Detail Listing
  • Content Set Summary Listing (Correct)
  • Row Set Summary Listing

Answer : Content Set Summary Listing

OCA Oracle Database 11g Administrator Certified Associate Set 2

ABC.com is a global company based in the United States with divisions in North American, Europe and Asia. All of the journal imports, recurring journals, mass allocations and manual journal entries have been posted for their European subsidiary. What is the next logical step in the period-close process?


Options are :

  • Revalue foreign currency balances. (Correct)
  • Reconcile account balances
  • Translate to functional currency.
  • Consolidate to the parent set of books.

Answer : Revalue foreign currency balances.

You are implementing Oracle General Ledger at ABC.coms site. ABC.com is based in the US but has a global presence in many countries worldwide, and has transactions in multiple currencies. The implementation team decides that GL multi currency setup will be part of the implementation. The GL accountant approaches you to discuss multiple reporting currencies (MRC); he wants to implement MRC and link the primary set of books with the reporting set of books. Additionally, he says that the primary and reporting sets of books all have different calendars but share the same chart of accounts. What response do you provide? 


Options are :

  • The primary and reporting set of books must share the same currency and chart of accounts.
  • There is no problem in satisfying this requirement
  • The primary and reporting set of books must share the same calendar and chart of accounts. (Correct)
  • The primary and reporting set of books must share the same calendar, currency and chart of accounts.

Answer : The primary and reporting set of books must share the same calendar and chart of accounts.

One of your ABC.com co-workers, Tim, is working to define and develop Financial Statement Generator reports where the budget amounts and actual amounts would display on the report per period. Tim comes to you and says that he has defined an FSG report according to the client's requirements; the actual amounts are correctly shown, but the problem is that budget amounts are not showing up on the report. What is your response?


Options are :

  • The first fiscal year of the budget was never opened.
  • There is some issue with the assignment of accounts to the budget organization.
  • Budget status is Frozen
  • The budget name needs to be associated with the row set through control values. (Correct)

Answer : The budget name needs to be associated with the row set through control values.

1Z0-521 Oracle E-Business Suite R12.1Oracle Order Managment Set 1

ABC.com has offices around the world, spread across different legal entities. ABC.com is implementing Oracle General Ledger. Its accounting department wants to know how to reduce the burden of elimination entries. What do you recommend? 


Options are :

  • Inter company Journals
  • ADI Journals
  • Summary Journals
  • Recurring Journals (Correct)

Answer : Recurring Journals

During a period, several preapproved batches of miscellaneous transactions were entered and released. The project manager informs you that he is unable to view the accounting in the expenditure inquiry form. Which process was likely omitted? 


Options are :

  • streamline costs
  • distribute costs (Correct)
  • interface costs
  • tieback costs

Answer : distribute costs

Which item CANNOT be queried in the Find Consolidation Process window?


Options are :

  • Parent Calendar (Correct)
  • Parent Period
  • Parent Set of Books
  • Consolidation Status

Answer : Parent Calendar

1Z0-520 Oracle EBS R12 Purchasing Essentials Practice Exam Set 4

ABC.com is a $2 million company operating from the U.S., and has one set of books. It is spinning off from its parent company and will be operating as an independent company. It is considering implementing Oracle Financials but wants the product to work exactly in the same way as its legacy systems from its parent company. What considerations should be presented to ABC in order for it to make a well-informed decision? (Choose all that apply.)A. Patching is simplified on a non-customized Oracle implementation. B. Adding customizations to replicate the legacy system could increase cost of future upgrades.
C. Integration issues between modules are reduced when there are no customizations.
D. No information can be interfaced from the legacy system to the product


Options are :

  • A,B,D
  • A,C,D
  • A,B,C (Correct)
  • B,C,D

Answer : A,B,C

ABC.com wants to define a consolidation process for its enterprise. It has two sets of books: Set of Books A and Set of Books B.
Both sets of books will use Oracle General Ledger. Set of Books A has three companies with the same calendar and chart of accounts as Set of Books B. Set of Books A has USD as its currency. Set of Books B has four companies with the same chart of accounts and calendar as Set of Books A.  Set of Books B has GPD as its currency. Select the consolidation method.


Options are :

  • Oracle Financial Analyzer
  • Interface Data Transformer
  • Financial Statement Generator (Correct)
  • Global Inter company System

Answer : Financial Statement Generator

ABC.com wants to use one set of books for its many subsidiary companies in Canada that will share the global chart of accounts structure and the Corporate Accounting Calendar. The controller is concerned about users charging to the wrong company when entering a journal entry. Which setup would address the controller's concern?


Options are :

  • Segment security rules would prevent users from seeing companies that they are not supposed to see. (Correct)
  • Suspense posting would ensure that if there are unbalanced entries, the system would make it balanced.
  • Inter company accounting would ensure that if a wrong company is used, at least intercompany accounting entries would be created.
  • Cross validation rules would ensure that the proper code combinations are used.

Answer : Segment security rules would prevent users from seeing companies that they are not supposed to see.

Oracle 1Z0-976 Cloud Service Implementation Essentials Exam Set 2

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