Oracle 1z1-408 : Oracle Fusion Financials: General Ledger 2014 Essentials

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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. Your customer has a large number of legal entities. The legal entity values are defined in the company segment and the primary balancing segment. They want to easily create eliminating entries for the intercompany activity.
What should you recommend?

A) There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the Intercompany rules you define.
B) Define an intercompany segment in the chart of accounts. The Intercompany module and the intercompany balancing feature in general ledger and sub ledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading.
C) There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.
D) Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment.

2. What are the two benefits of having the Essbase cube embedded in Fusion General Ledger?

A) General ledger balances are multidimensional, allowing you to perform robust reporting and analysis.
B) Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules.
C) Posting performance is much faster.
D) You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts.
E) 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.

3. You want to process multiple allocations at the same time. What feature do you use?

A) Formulas
B) RuleSets
C) Point of View (POV)
D) General Ledger Journal entries

4. Your customer requires physical invoices to be generated in Fusion Payables and Fusion Receivables for the intercompany payables and receivables transactions.
What statement is correct with regard to setting this up?

A) You can only associate one Intercompany Organization per Legal Entity.
B) You must assign the corresponding Receivables and Payables Business Units.
C) You must perform additional setup steps for Fusion Payables and Fusion Receivables.
D) You only need to assign the Legal Entity and Organization Contact.

5. You want to define a tree or hierarchy for use in reports and allocations.
What three aspects should you remember when creating the tree?

A) The tree should have at least two tree versions to reduce report and allocation maintenance.
B) You need to flatten the rows to be able to use drilldown in Smart View and you must publishtree to view the hierarchy in Essbase cubes.
C) You only need to flatten the columns if you plan to use the hierarchy in Oracle Transactional Business Intelligence (OTBI).
D) You must flatten the columns and publish the tree to view the hierarchy in Essbase cubes.
E) It is fine to have the same child value roll up to two or more different parent values.

Solutions: