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1Z0-408 Oracle Fusion Financials: General Ledger 2014 Essentials

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Oracle · 1Z0-408

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Question 1

Single choice

You want to prevent intercompany transactions from being entered during the last day of the close.

What should you do?

A
Close all subledger periods.
B
Close Intercompany periods in Fusion Intercompany.
C
Freeze the Intercompany Journal source in General Ledger.
D
Close the General Ledger period in the Manage Accounting Periods page.

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Correct answerD

Question 2

Single choice

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 do you need to enable?

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

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Correct answerD

Question 3

Single choice

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

A
There is no difference.
B
The "Real Time" subject areas are based on real-time transactions and all others are based on Historical data.
C
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.
D
The "Real time" subject areas are based on sub ledger transactions and all others are based on general ledger balances.

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Correct answerC

Question 4

Multiple choice

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
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.
C
You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts.
D
Posting performance is much faster.
E
Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules.

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Correct answersB, E

Question 5

Multiple choice

Which two statements are true regarding the export/import of reports?

A
A set of reports are provided for both exported and imported setup data to validate the export/import processes and setup data.
B
Reports on setup data can be used to compare and analyze how the data might have changed over time.
C
To view errors encountered during the export or import Process, you must use SQL queries to obtain that data because no reports exist.
D
A set of reports lists user names, suppliers, and customers that have been exported/imported
E
The export/import reports are available only for Fusion Customer Relationship Management.

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Correct answersC, E

Question 6

Single choice

Your customer has only licensed Fusion Financials and wants to use approval workflows.

Using which page to enter users and assign roles does Oracle consider best practice?

A
Manage Users
B
Hire a New Ernployee
C
Oracle Identity Management (OIM)
D
Policy Manager (APM)
E
Financials not a stand-alone product

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Correct answerC

Question 7

Single choice

You defined a tree or hierarchy, but you are unable to set its status to Active.

What is the reason?

A
Chart of accounts was not deployed.
B
Accounting Configuration was not submitted-
C. An Audit process needs to be successfully performed before a tree version can be set to Active.
C
Two tree versions were not defined

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Correct answerC

Question 8

Single choice

Most of the accounting entries for transactions from your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.

At what level can you override the default accounting attribute assignment?

A
Event Type
B
Journal Line Rule
C
Event Class
D
Journal Entry Rule Set
E
Journal Entry

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Correct answerE

Question 9

Single choice

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
Financial Reports with Embedded charts
C
Account Monitor
D
Account Inspector and its charts

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Correct answerC

Question 10

Single choice

Your user forgot the password.

How do you resolve this?

A
Use the Manage Users page to update the user's information and change the password.
B
Use Oracle Identity Management (OIM) to reset the user's password.
C
Log in to the user's machine as an Administrator and change the password from the login pa
D
Use Access Policy Manager (APM) to reset the user's password.
E
Create a new user ID and password for the user.

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Correct answerB

Question 11

Single choice

You want to automatically post journal batches imported from subledger source to prevent accidental edits of deletions of the subledger sources journals, which could cause an out -of-balance situation between your sub ledgers and general ledger.

Which two aspects should you consider when defining your AutoPost Criteria?

A
Use the Alloption for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process.
B
Include all of your sub ledger sources in the AutoPost Criteria. Divide up criteria sets by subledger source only if you need to schedule different posting times.
C
Create your AutoPost criteria using minimal source and categories.
D
Schedule your AutoPost Criteria set to run during off-peak hours only

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Correct answerA

Question 12

Multiple choice

Which two General Ledger work would you assign to all your entry-level General Ledger accountants?

A
Journals Work Area
B
Period Close Work Area
C
Financial Reporting Center
D
General Accounting Dashboard

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Correct answersA, D

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