Oracle Financials Cloud: General Ledger 2018 Implementation Essentials

Question 1

The expense account of airfare was erroneously assigned to the account type "Liability". Which method should you choose to fix the problem?

A. Run the "Update Balance Cube Chart of the Accounting Dimension" program

B. Run the "Segment Value Inheritance" program

C. Deactivate the value

D. Run the "Correct Misclassified Account" program

Correct Answer: D

Question 2

Your customer wants to use a clearing company to automatically balance intercompany entries.
Which three statements are true regarding the use of a clearing company value? (Choose three.)

A. If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal

B. If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity

C. You must map legal entities to balancing segment values in order to use a clearing company

D. If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger

E. Clearing companies are not supported

Correct Answer: A,B,D

Question 3

Journal Description Rules are assigned to Subledger Journal Entry Rule Sets.
What are the other three subcomponents of a Subledger Journal Entry Rule Set? (Choose three.)

A. Chart of Accounts

B. Journal Line Rules

C. Supporting References

D. Accounting Date

E. Account Rules

Correct Answer: B,C,E

Question 4

You want to enter budget data in General Ledger Cloud. Which method is not supported?

A. Entering budget journals

B. File-based Data Import

C. Direct budget balance updates from a Financial Statement in Smart View

D. Application Development Framework Desktop Integration (ADFdi)

Correct Answer: A

Question 5

You have enabled budgetary control and have a control budget set to Advisory control level. For September
2016, your budget for a given account combination is $5,000 USD. In the same month, there is an approved requisition for that account of $900 and an approved purchase order for that account of $2,500 USD. There is also a General Ledger adjustment journal entry for that account of $1,600 USD. An approved purchase order line of $400 USD is then cancelled. And an invoice is matched to the purchase order for $2,100 USD. Which two statements are true? (Choose two.)

A. Funds reservation only happens for non-matched invoices, so the system will not reserve funds

B. Purchase order encumbrance will be released for $2,100 USD

C. No change

D. The system always consumes budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation

E. As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016

Correct Answer: B,E

Question 6

You want to specify Intercompany System Options. Which three factors should you consider? (Choose three.)

A. whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies

B. automatic or manual batch numbering and the minimum transaction amount

C. whether to allow receivers to reject intercompany transactions

D. the approvers who will approve intercompany transactions

E. automatic or manual batch numbering and the maximum transaction amount

Correct Answer: A,B,C

Question 7

You want to process multiple allocations at the same time. What feature do you use?

A. Formulas

B. General Ledger journal entries

C. RuleSets

D. Point of View (POV)

Correct Answer: C

Question 8

You just submitted the Accounting Configuration. What two things must happen before you can enter journals? (Choose two.)

A. You must assign the job role and data security context to each user

B. You must define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration

C. A Data Access Set with full read/write access to the ledger is automatically created

D. You must re-deploy the chart of accounts

Correct Answer: A,C

Oracle Financials Cloud: General Ledger 2018 Implementation Essentials - 1Z0-1004 Exam Practice Test

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