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Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

1. you are defining intercompany balancing rules that are applied to a specific source and category, such as payables and invoices, or a specific intercompany transaction type, such as intercompany sales. Which two statements are correct? (Choose Two)

A) You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work
B) if you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value
C) Set up a chart of accounts rule for every chart of accounts structure you have in order to ensure that intercompany balancing will always find a rule to use to generate balancing accounts.
D) you can create a rule for all sources and categories by selecting the source "Other" and the category
"Other".

2. You need to setup a calendar for fiscal year Apr-XX to Mar-YY where YY is the following year and you would like the periods to be named accounting to the year they fall in What Calendar format should you choose?

A) Calendar
B) Fiscal
C) Period
D) Year

3. While Creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created. Which two options explain that? (Choose Two)

A) The Account Rule's conditions are not defined
B) The Account Rule is defined with a different chart of Accounts from the Journal Entry Rule Set.
C) The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set
D) The Account Rule's Chart of Accounts have no account values assigned

4. On which three occasions are Essbase balances updated? (Choose three.)

A) every time you open a new period
B) every time you run the batch program called "Update Essbase Balances"
C) every time journals are posted to the general ledger
D) every time the tree version is published

5. Your customer operates three shared services that perform accounting functions across 50 countries What feature allows them to share setup data, such as Payment Terms, across Business Units?

A) Business Units functions
B) None
C) Reference Data Sets
D) Data Access Sets

Solutions: