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QUESTION NO:14

Identify three setup options that are defined in the Financial Options window. (Choose three.)

A. interest

B. retainage

C. miscellaneous

D. expenses clearing

E. expense AP accrual account

Answer: B,C,D

QUESTION NO:28

You are implementing Oracle General Ledger at a client site. The client is based in the US, but

they have a presence in many countries and transactions in multiple currencies.

The implementation team decides that the GL multi-currency setup will be a part of the

implementation. The company’s management in the US wants to see all transactions in USD,

whereas the management in Europe wants to see the transactions in Euros. The CFO has this

requirement:

While entering daily transactions, the user must be able to enter the current exchange rate. But at

month end, the assets and liabilities in Euros must be converted into USD at the monthly average

exchange rate. Can this requirement be satisfied?

A. Oracle GL does not support this functionality.

B. Workflow must be customized to satisfy this requirement.

C. The account generator must be customized to satisfy this requirement.

D. Oracle GL provides this functionality and there is no problem in satisfying the requirement.

Answer: D

QUESTION NO:44

All manual journal entries are defaulting to a non-current period. Which step was omitted from the

accounting cycle?

A. updating the period

B. posting journal entries

C. consolidating financials

D. reversing journal entries

E. translating foreign balances

Answer: A

QUESTION NO:9

Identify three ways that an invoice can be submitted for validation. (Choose three.)

A. online by clicking the Validate button in the Invoice Batches window

B. online by clicking the Validate and Account button in the Invoice Batches window

C. in batch by submitting the Payables Invoice Validation program from the Invoice Workbench

D. in batch by submitting the Payables Invoice Validation program from the Submit Request

window

E. online by selecting either the Validate check box or the Validate Related Invoices check box in

the Invoice Actions window

Answer: A,D,E

QUESTION NO:27

Scott, the CFO at ABC Company in the USA, wants to present the annual income statement to the

board of directors of the company. ABC Company engages in many exports and import activities

and follows the policy to revalue all its transactions in foreign currency with the current market

rates. Scott requests George, the head accountant of the company, to revalue all foreign currency

transactions done during the year. Select two prerequisites that George must comply with to

ensure that the revaluation is done as desired. (Choose two.)

A. Define accounts for realized gains and realized losses.

B. Define accounts for unrealized gains and unrealized losses.

C. Define the weights for each currency used for doing transactions.

D. Define a batch under which the revaluation journals would be stored.

E. Define a revaluation rate for each currency for each period or date for which the revaluation

must be run.

Answer: B,E

QUESTION NO:35

Select three statements that apply to the Global Consolidation System (GCS). (Choose three.)

A. It consolidates data from the legacy feeder system.

B. This system creates consolidated journal entries in both the parent and subsidiary sets of

books.

C. GCS automatically generates journal entries to eliminate intercompany balances based on

defined rules.

D. It performs multidimensional analysis of consolidated financial data by using Oracle Enterprise

Planning and Budgeting.

Answer: A,C,D

QUESTION NO:36

Select three statuses of the consolidation workbench. (Choose three.)

A. posted

B. entered

C. exported

D. reversed

E. transferred

Answer: A,D,E

QUESTION NO:8

Identify the four setup options that control supplier defaults. (Choose four.)

A. financial options

B. payables options

C. receiving options

D. purchasing options

E. Payables system setup

F. Trading Community Architecture (TCA)

Answer: A,B,D,E

QUESTION NO:26

You are implementing Oracle General Ledger (GL) at a client site. The client is based in the US,

but they have a presence in many countries and transactions in multiple currencies. The

implementation team decides that the GL multi-currency setup will be a part of the implementation.

John, a junior consultant helping you in the implementation effort, tells you that he is testing the

system and entering journals in USD, Yen, and Euros. He says that he is able to enter journals in

USD and Euros, but not in Japanese Yen. What possible explanation can you provide to John for

this?

A. Yen has not been enabled.

B. Rate types have not been defined for Yen.

C. Daily rates have not been entered for Yen.

D. Workflow must be customized for journals to be entered in Yen.

Answer: A

QUESTION NO:4

Select three activities that must be performed to complete the setup of the key accounting flexfield.

(Choose three.)

A. Create aliases.

B. Define a value set.

C. Define security rules.

D. Define an account structure.

E. Define valid segment values.

F. Create account combinations.

Answer: B,D,E

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