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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. Which two statements are true regarding the export/import of reports?

A) A set of reports lists user names, suppliers, and customers that have been exported/imported
B) To view errors encountered during the export or import Process, you must use SQL queries to obtain that data because no reports exist.
C) Reports on setup data can be used to compare and analyze how the data might have changed over time.
D) The export/import reports are available only for Fusion Customer Relationship Management.
E) A set of reports are provided for both exported and imported setup data to validate the export/import processes and setup data.

2. Your foreign currency transactions need to be revalued every month. For balance sheet accounts, you reverse the revaluation journals in the next period. You are using the period-to-date (PTD) method of revaluation tor your income statement accounts.
When should you reverse revaluation journals, if at all required?

A) The reversals must be done at the end of each quarter.
B) Both balance sheet and income statement revaluation journals should be reversed in the period.
C) Never, because each period's revaluation adjustment is just for that period.
D) Reverse them in the same period as the revaluation run.

3. You operate in a country whose unstable currency makes it unsuitable for managing your day-today business. As a consequence, you need to manage your business in a more stable currency while retaining the ability to report in the unstable local currency.
What would be your recommendation when defining ledgers?

A) Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency.
B) Run Revaluation as often as you need to the more stable currency and report on the more stable currency'sbalances.
C) Define Balance-Level Reporting Currencies in the more stable currency and run Translation as often as you need.
D) Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency.

4. Which two are prerequisites for creating subledger accounting entries?

A) Populating supporting reference information in reference objects
B) Completing accounting transformation definition and activating Subledger Journal Entry Rule Set assignments for the Accounting Method
C) Creating subledger accounting events
D) Selecting source values from transaction objects
E) Completing preaccounting validation

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

Solutions: