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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. 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.

2. What's the difference between subject areas that append the word "Real Time" and those that do not?

A) The "Real time" subject areas are based on sub ledger transactions and all others are based on general ledger balances.
B) The "Real Time" subject areas are based on real-time transactions and all others are based on Historical data.
C) There is no difference.
D) The "Real Time" subject areas are based on real-time transactions in Fusion Applications, and all others are based on data stored in the Oracle Business Intelligence Applications data warehouse.

3. What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?

A) Event Entities
B) Event Classes
C) Transaction Objects
D) Mapping Sets
E) Accounting attributes

4. Which three objectives must be considered when designing the chart of accounts?

A) Try to use all 30 segments and 25 characters per segment because you cannot change It later.
B) Consider implementing a single, global chart of accounts
C) Limit the number of segments to those you need today to reduce data entry.
D) Effectively manage an organization's financial business.
E) Anticipate growth and maintenance needs as organizational changes occur.

5. Your new accountants have been making mistakes in reconciling accounts assigned to them. Yourbalances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation.
What feature can you use to be proactively notified of account anomalies in a more timelymanner?

A) Smart View
B) Account Monitor
C) Account Inspector and its charts
D) Financial Reports with Embedded charts

Solutions:

Question # 1 Answer: B

Question # 2 Answer: B

Question # 3 Answer: C

Question # 4 Answer: B,D,E

Question # 5 Answer: A