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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. What is the most efficient way to add a new year to the accounting calendar?

A) Import the periods from a spreadsheet
B) Use the Add Year button
C) Add the periods manually
D) The application automatically populates the next year when you open the first period a new fiscal year.

2. Your Financial Analyst needs to interactively analyze General Ledger balances with the ability down to originating transactions.
Which three features facilitate this?

A) Online Transactional Business Intelligence
B) Smart View
C) Account Monitor
D) Account Inspector
E) Financial Reports published to Excel

3. Your customer wants to create fully balanced balance sheets for the Company, Line of Business, and product segments for both financial and management reporting.
What is Oracle's suggested best practice for doing this?

A) Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions.
B) Create three segments and qualify them as the primary balancing segment, second, and third balancing segments, respectively.
C) Create two segments where the first segment represents the concatenation of Company and Line of Business, and then enable secondary tracking for the Product Segment.
D) Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting.

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

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

5. You need to create a month-end re-porting package for an upcoming Audit Committee meeting. You have 10 financial reports that you will need to share with executives and auditors.
In which three ways do you accomplish this?

A) Snapshot reports can only be viewed online.
B) Users can drill down on snapshot reports for future analysis.
C) Using Workspace, assemble multiple reports into a book.
D) The report contained in the book can be printed or viewed individually or as an entire book thatincludes a table of contents.
E) Use a Report Batch to run reports at a specific time to create set of snapshot reports based on accounting information at that specific point in time.

Solutions: