Oracle 1Z0-408 Online Practice Questions and Exam Preparation

Oracle 1Z0-408 Online Questions & Answers

• Question 61:

  Which two are prerequisites for creating subledger accounting entries?

  A. Completing accounting transformation definition and activating Subledger Journal Entry Rule Set assignments for the Accounting Method
  B. Populating supporting reference information in reference objects
  C. Selecting source values from transaction objects
  D. Creating subledger accounting events
  E. Completing preaccounting validation
  B. Populating supporting reference information in reference objects
  E. Completing preaccounting validation

• Question 62:

  All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting. What does Oracle consider the best practice approach to performing consolidations?

  A. Use Oracle Hyperion Financial Management for this type of complex consolidation.
  B. Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to theparent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
  C. Use General Ledger's Financial Reporting functionality to produce consolidated reports bybalancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment.
  D. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar,currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then create a ledger set across all ledgers and report on the ledger set.
  A. Use Oracle Hyperion Financial Management for this type of complex consolidation.

• Question 63:

  You want to specify Intercompany System Options.

  Which three factors should you consider?

  A. Whether to enforce an enterprise-wide currency or allow in intercompany transactions in local currencies
  B. Whether to allow receivers to reject intercompany transactions
  C. Automatic or manual batch numbering and the minimum transaction amount
  D. Automatic or manual batch numbering and the maximum transaction amount
  E. The approvers who will approve intercompany transactions
  A. Whether to enforce an enterprise-wide currency or allow in intercompany transactions in local currencies
  B. Whether to allow receivers to reject intercompany transactions
  D. Automatic or manual batch numbering and the maximum transaction amount

• Question 64:

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

• Question 65:

  Alter submitting the journal for approval, you realize that the department value in the journal incorrect. How do you correct the value?

  A. Delete the journal and create a new journal.
  B. Update the journal through workflow
  C. Click the Withdraw Approval button in the Edit Journals page and edit the journal.
  D. Reverse the journaland create a new one.
  B. Update the journal through workflow

• Question 66:

  You want to monitor the dose process of all your financial subledgers and ledgers. How can you quickly obtain this information?

  A. Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period.
  B. Use the Manage Accounting Periods page to view the status of all subledgers and ledgers.
  C. Use Close Monitor in General Accounting Dashboard.
  D. Run Closing Status reports.
  D. Run Closing Status reports.

• Question 67:

  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
  C. Oracle Identity Management (OIM)

• Question 68:

  While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created. Which two options explain that?

  A. The Account Rule is defined with a different chart of accounts from the Journal Entry Rule Set.
  B. The Account Rule's chartof accounts have no account values assigned
  C. The Account Rule's conditions are not defined.
  D. The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set.
  B. The Account Rule's chartof accounts have no account values assigned
  D. The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set.

• Question 69:

  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
  C. Account Monitor

• Question 70:

  Your customer is having issues transferring intercompany transactions to General Ledger.. Identify three reasons for this.

  A. The intercompany transaction is not approved.
  B. The corresponding Payables and Receivablesinvoicehave not been generated.
  C. If they are different, then the exchange rate is missing between the intercompany and ledger currency.
  D. The intercompany period is closed.
  E. Both the intercompany and general ledger periods are open.
  B. The corresponding Payables and Receivablesinvoicehave not been generated.
  C. If they are different, then the exchange rate is missing between the intercompany and ledger currency.
  E. Both the intercompany and general ledger periods are open.