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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q34-Q39):

NEW QUESTION # 34
InFinancial Cloud, which three reporting tools can be used to accessGeneral Ledger balances?

A. Smart View
B. Financial Reporting Studio
C. Oracle Enterprise Repository
D. Application Composer
E. Oracle Transactions Business Intelligence

Answer: A,B,E

NEW QUESTION # 35
Challenge 2
Manage Shorthand Aliases
Scenario
Your client intends to utilize the Shorthand Alias feature and would like to see how the aliases will appear when entering transactions.
Task 2
Create a shorthand alias for the US Chart of Accounts to record Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center.

Note:
. Prefix your alias name with 07, where 07 is
your exam ID.
. There is no Product or Intercompany
impact.

Answer:

Explanation:
See the Explanation for the complete Solution.
Explanation:
Here are the steps you need to follow:
* In the Setup and Maintenance work area, go to the following:
* Offering: Financials
* Functional Area: Financial Reporting Structures
* Task: Manage Shorthand Aliases
* Select the chart of accounts that you want to create the alias for. In this case, it is the Corporate chart of accounts.
* Click on the Add Row icon to create a new alias. Enter the following information:
* Alias Name: RevDom
* Account Template: 101-2000-400000-000-000-000
* Description: Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center
* Enabled: Yes
* Start Date: Today's date
* End Date: Blank
* Click on the Save and Close button to save the alias.
You have successfully created a shorthand alias for the US Chart of Accounts. For more information, you can refer to the following resources:
* Account Aliases
* Enter a GL Account Alias
* Short Hand Alias in Fusion Financials Key Flexfield
* How to Enable Account Shorthand Aliases

NEW QUESTION # 36
Budgetary control for accounts5020and5021has a budget of$90,000 USDeach for the year2012. The accounts also have balances onobligation of $10,000 USDfor each and anexpenditure of $20,000 USDfor each.
AFund of $50,000 USDis available for account5020only. You have run theEncumbrance Year End Carry Forward processfor obligation from the last period of the year2012to the first period of year2013.
Which statement is true?

A. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forward.
B. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances.
C. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward.
D. If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.

Answer: A

NEW QUESTION # 37
When will Intercompany processing balance a journal using the accounts identified here for the UK Ledger?

A. when the journal is not balanced by the primary balancing segment value (BSV)
B. when there is a many-to-many journal and you want to use a clearing company
C. when the journal is balanced by second balancing segment value
D. when the journal is balanced by the primary BSV but not by second or third BSV

Answer: D

Explanation:
Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary balancing segment value (BSV) but not by second or third BSV. A BSV is a segment in the chart of accounts that identifies a legal entity or business unit for which financial statements are prepared and balanced. A primary BSV is required for every ledger and is used to balance journal entries within a ledger. A secondary or tertiary BSV is optional and is used to balance journal entries across different dimensions other than the primary BSV, such as fund or region. Intercompany processing is a feature that enables intercompany transactions between different legal entities or business units within the same enterprise. Intercompany processing uses intercompany balancing rules to generate intercompany receivables and payables accounts for cross-ledger or cross-BSV journals. Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary BSV but not by second or third BSV, as thisindicates that there is an intercompany transaction between different legal entities or business units within the UK Ledger that requires intercompany balancing.
Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when there is a many-to-many journal and you want to use a clearing company, as this is a scenario that involves multiple legal entities or business units across different ledgers that requires a separate clearing company ledger to perform intercompany balancing. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is not balanced by the primary BSV, as this is an invalid scenario that violates the accounting rules and prevents posting of the journal. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by second balancing segment value, as this is an incomplete scenario that does not specify whether the journal is also balanced by primary and third BSV. Reference: Oracle Financials Cloud: General Ledger
2022 Implementation Professional Objectives - Configure and Process Intercompany 12

NEW QUESTION # 38
The current implementation project covers Financials (with Fixed Assets and Expenses) with operations planned in three countries (USA, Italy, and India).
Which three labels are required when designing the chart of account structure for this project? (Choose three.)

A. Cost center
B. Secondary Balancing
C. Intercompany Segment
D. Primary Balancing
E. Natural Account

Answer: A,D,E

Explanation:
The three labels that are required when designing the chart of account structure for this project are Primary Balancing, Cost center, and Natural Account. A chart of account structure is composed of segments that represent different dimensions of accounting information, such as company, department, account, or project.
Each segment has a label that indicates its function or purpose within the chart of accounts. The Primary Balancing label is required for the segment that identifies the legal entity or business unit for which financial statements are prepared and balanced. The Cost center label is required for the segment that identifies the organizational unit or function that incurs expenses or generates revenues. The Natural Account label is required for the segment that identifies the nature of an account, such as asset, liability, revenue, or expense.
The Intercompany Segment label is not required when designing the chart of account structure for this project, as this is an optional label for the segment that identifies intercompany transactions between different legal entities or business units within the same enterprise. The Secondary Balancing label is not required when designing the chart of account structure for this project, as this is an optional label for the segment that identifies an additional balancing dimension other than the primary balancing segment, such as fund or region. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Chart of Accounts 12

NEW QUESTION # 39
......

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