Oracle Financials Cloud: General Ledger 2018 Implementation Essentials (1Z0-1004) Free Practice Test

Question 1

Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses in Australia, New Zealand, and Singapore with a ledger in each country with a Corporate chart of account instance that has four segments. Which three statements are true regarding the creation of a control budget? (Choose three.)

A. Control budgets are always absolute to generate encumbrance accounting

B. The control budget structure has all the chart of account segments as budget segments

C. A control budget can allow override rules only if the control level is absolute

D. A control budget can be associated with a different calendar than accounting calendar

E. A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand, and Singapore

Correct Answer: A,C,D

Question 2

You entered a journal and the client is asking for the following information:
* The current account balance
* What the future account balance will be if the journal is approved and posted How will you get this information?

A. Query the account balance online

B. Run a Trial Balance before and after posting

C. Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances

D. View the Projected Balances region in the Create Journals page

Correct Answer: D

Question 3

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. Clearing companies are not supported

B. 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

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

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

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

Correct Answer: B,C,E

Question 4

In which two ways can your users customize the Springboards and Work Areas to suit their individual working styles? (Choose two.)

A. They can format each table by hiding and showing columns, moving columns, and resizing columns

B. They can use Personalization to move and remove regions from those pages

C. Users have very little control their Springboards and Work Areas; they can only resize columns

D. They can have the System Administration customize pages for them using Page Composer

Correct Answer: A,B

Question 5

Which two methods can your General Ledger accountants use to more easily view large amounts of data contained in the tables in their work areas? (Choose two.)

A. Use the Freeze feauture on the tables to scroll through large amounts of data

B. Detach the table to resize it to the maximum size of the monitor.

C. Run a Business Intelligence Publisher report with Excel as the output format

D. Export the table to Excel

Correct Answer: A,B

Question 6

Your Financial Analyst needs to interactively analyze General Ledger balances with the ability to drill down to originating transactions. Which three features facilitate this? (Choose three.)

A. Account Inspector

B. Account Monitor

C. Sunburst reports

D. Online Transactional Business Intelligence

E. Smart View

Correct Answer: A,B,E

Question 7

What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)

A. You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously

B. Posting performance is much faster

C. You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts

D. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis

E. Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules

Correct Answer: A,D

Question 8

Encumbrance accounting is enabled for your ledger. An encumbrance journal dated 3/15/16 was recorded for a purchase order.
The invoice was entered on 5/5/16, but the invoice accounting date was 4/20/16. The encumbrance journal for liquidating the purchase order encumbrance is dated 5/5/16.
What is causing this?

A. The system date was set up under the encumbrance accounting Default Date Rule

B. The actual accounting date was set up under the encumbrance accounting Default Date Rule

C. The current transaction accounting date was set up under the encumbrance accounting Default Date Rule

D. The subledger accounting option is set to system date

E. The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule

Correct Answer: C

Welcome to TestSimulate

Oracle Financials Cloud: General Ledger 2018 Implementation Essentials (1Z0-1004) Free Practice Test