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

1. The Delete Translated Balances Process provides the ability to completely reset translations in the event that significant changes are made to the accounting configuration. Once the deletion process completes, what additional process must you run?

A) Submit the Create General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations
B) Submit the Create Currency Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations
C) Submit the Create Scenario Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations
D) Submit the updated General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations

2. Your customer wants to control spending against an annual budget but report balances on a monthly year-to-date basis. Encumbrance accounting is also in use. What setup is required to achieve this requireme

A) Create a summary budget annually with advisory control and control budget monthly with absolute control.
B) Create an annual budget with absolute control and so encumbrance accounting will work.
C) Create two detail control budgets: annually with advisory/track control and monthly with absolute control.
D) Create a Summary budget annually with absolute* control and monthly control budget with advisory or track control.
E) Create two detail control budgets: annually with absolute control and monthly with advisory or trackcontrol.

3. You want to be notified of anomalies in certain account balances in real time. What is the most efficient way to do this?

A) Create an Account Group using Account Monitor
B) Use Account Inspector
C) Open a Smart View file saved on your desktop
D) Perform an account analysis online

4. You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What so you need to enable?

A) Allow Expansion
B) Nothing. All report balances are drillable in all FR Studio reports
C) Drill Through in Grid Properties
D) Report Functions

5. Your customer is a financial Institution that needs to maintain average daily balances (ADB). Which two statements are true regarding this functionality in Fusion Applications?

A) Average balances are maintained for both actual and budget balances
B) When using ADB, you must define a daily calendar and assign it to your ADB ledger
C) Average balances are stored in the Essbase cube
D) Average balances are stored for both subledger balances and general ledger balances
E) ADB provides organizations with the ability to track average and end-of-day balances, report average balance sheets, and create custom reports using both actual and average balances

Solutions: