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Oracle EBS R12.1 General Ledger Essentials

Question No: 81 – (Topic 1)

ABC.com has a legal entity in each of its business operations in the United States, Canada, Malaysia, Singapore, and Italy. The controller in Italy advises that the corporation must use the Italian statutory accounts as its natural accounts. The corporation decides to define five sets of books (one for each country) but wants to use a single, global chart of accounts structure. Choose a possible design (for the sets of books) that uses a single, global chart of accounts structure, and also meets the Italian controller#39;s requirement.

  1. The chart of accounts structure uses a different Value Set for the Account segment for Italy.

  2. The length of the Account segment for Italy is different from that for the other countries.

  3. The list of values in the Account segment includes a range reserved for Italy.

  4. The chart of accounts structure contains an extra segment for Italy.

  5. The chart of accounts structure for Italy uses Account values prefixed with a special character.

Answer: C

Question No: 82 – (Topic 1)

What is the effect of summary accounts on the efficiency of the posting process?

  1. There is no effect, because summary accounts do not use the posting process to accumulate values.

  2. Use of summary accounts decreases the efficiency of the posting process.

  3. Use of summary accounts neither increases nor decreases the efficiency of the posting process.

  4. Use of summary accounts increases the efficiency of the posting process.

Answer: B

Question No: 83 – (Topic 1)

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?

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

  2. Authorization limits have not been defined properly and the GL Period is closed.

  3. The Profile option Allow Preparer Approval needs to be reset.

  4. One of the GL account code combinations in the journal is invalid.

Answer: A

Question No: 84 – (Topic 1)

Which subledger transfers journal information directly to General Ledger to create an unposted journal entry?

  1. Inventory

  2. Payables

  3. Purchasing

  4. Receivables

  5. Assets

Answer: E

Question No: 85 – (Topic 1)

What are three benefits of using the Journals Import: Group By Effective Date profile option? (Choose three.)

  1. Facilitate more transparent exchange rate conversions.

  2. Facilitate consolidation.

  3. Make daily updates to daily business intelligence.

  4. Account for business transactions by effective date or by accounting date.

  5. facilitates financial auditing and compliance with the new Sabanes-Oxley Act

Answer: C,D,E

Question No: 86 – (Topic 1)

ABC.com, the GL accountant, says that he has heard about the budget upload functionality of Oracle GL and he is eager to test it. She is unable to test it in the CRP instance. What is your explanation?

  1. The budget can be uploaded.

  2. The budget dates in the budget organization have a different date range.

  3. The GL account code combination is not valid.

  4. Budget journals are required at the set of books level

  5. The GL period is closed.

Answer: D

Question No: 87 – (Topic 1)

A ABC.com manager wants to review the cash balance by company. He has asked you to create the summary account template. ABC.coms accounting flexfield has four segments:

Company (5 values) Cost Centers (30 values) Region (4 values)

Account (180 values)

The total number of cash accounts is 5, which are associated with 2 parents:

3 accounts are associated with the parent called Checking; 2 accounts are identified with the parent called Savings.

To combine the Cash parents, you create a rollup group named Cash.

Which summary account template would you create to review cash balances by company? (D: Detail)

(T: Total)

  1. D-T-T-Cash

  2. T-D-T-Cash

  3. D-T-D-Cash

  4. D-D-D-Cash

  5. T-T-T-Cash

  6. T-D-D-Cash

Answer: A

Question No: 88 – (Topic 1)

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?

  1. Workflow needs to be customized for journals to be entered in yen.

  2. Yen currency has not been enabled.

  3. Daily rates have not been entered for yen.

  4. Rate types have not been defined for yen.

Answer: B

Question No: 89 – (Topic 1)

Which three statements are true about the revaluation process? (Choose three.)

  1. Revaluation calculates the differences between the current cumulative functional currency balance of the foreign transactions and the revalued functional currency balance calculated using the revaluation rate.

  2. The revaluation process revalues the foreign currency portion of the account balances using the revaluation rate defined in the Period Rates table.

  3. The revaluation process should be executed after the transaction process has completed.

  4. You must post the revaluation journal entries.

Answer: A,B,D

Question No: 90 – (Topic 1)

ABC.com wants to compare actual amounts against their budgeted amounts. Which reporting or query options would provide that detail? (Choose two.)

  1. Account Analysis

  2. On-line Account Inquiry

  3. On-line Budget Inquiry

  4. Trial Balance

  5. Financial Statement Generator

Answer: B,E

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