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

1. Which feature outside of reporting and analysis leverages the Essbase cube?

A) Journal entries and journal approval to create journals that update balances to the cube directly.
B) period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync
C) Revaluations and translation of revalue and translate currencies stored in the Essbase cube
D) Calculation manager to perform allocations based on multidimensional balances and budgets

2. The Accounting Manager requests that a schedule be created to automate.ca.ly post journals from subledgers at different times. Which journal attribute should you use to set the automatic posting criteria?

A) Journal Category
B) Journal Source
C) Journal Batch
D) Journal Description

3. You operate in a country whose unstable currency makes it unsuitable for managing your day-to-day business. As a consequence, you need to manage your business in a more stable currency while retaining the ability to report in the unstable local currency. what would be your recommendation when defining ledgers?

A) Define Balane-level Reporting currencies in the more stable currency and run Translation as often as you need.
B) Run Revaluation as often as you need to the more stable currency and report on the more stable currency's balances.
C) Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency.
D) User Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency

4. 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 absolute* control and monthly control budget with advisory or track 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 two detail control budgets: annually with absolute control and monthly with advisory or trackcontrol.
E) Create a summary budget annually with advisory control and control budget monthly with absolute control.

5. You are reconciling your subledger balances and you need a report that includes beginning and ending account balances and all transactions that constitute the account's activities. What type of report will provide this type of information?

A) Journal Reports
B) an Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances
C) Account Analysis Report
D) Aging Reports

Solutions: