Oracle 1Z0-508 Online Practice Questions and Exam Preparation

Oracle 1Z0-508 Online Questions & Answers

• Question 1:

  Which three ledgers can be viewed from the Close Status work region of the General Accounting Dashboard?

  A. Single Ledger
  B. Ledger Set
  C. Related ledgers
  D. Currency Ledgers
  E. Debit ledgers
  F. Level ledger update
  A. Single Ledger
  B. Ledger Set
  D. Currency Ledgers

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  B: Actions that can be performed across a Ledger Set

  

  Open/Close Periods

  

  Create Journals

  

  Translate Balances

  

  Reporting

  

  View Information

  Note:

  *Using the Close Status region of the General Accounting Manager dashboard within Fusion General Ledger, you can immediately identify which subledgers have not closed yet.

  *

  Close Status region in the General Accounting Dashboard. The Close Status region provides real time visibility into the period close process from your subledgers to your General Ledger across the entire enterprise.

  *

  General Accounting Dashboard: / Have a comprehensive view of journals requiring attention, intercompany transactions that are incomplete, account balances that have exceeded their thresholds, and the close status of subledgers and ledgers from a central place / Increase user productivity by reducing multiple searches and the number of pages he needs to access by pushing information across areas in one place

• Question 2:

  The tables, of views, from which Create Accounting takes source data to use in rules and create entries are referred to as .

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

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  The Create Accounting program processes eligible accounting events to create subledger journal entries. To create the subledger journal entries, the Create Accounting program applies application accounting definitions that are created in the Accounting Methods Builder (AMB).

  The Create Accounting program:

  *

  Validates and creates subledger journal entries *Transfers the final journal entries in the current batch run to General Ledger and starts the General Ledger posting process *Generates the Subledger Accounting Program Report, which documents the results of the Create Accounting program

  Note: Create Accounting Program parameters include:

  *

  Ledger: limits accounting events selected for processing to those of a particular ledger

  *

  Process Category: restricts the events selected for accounting to a particular process category

  Reference: Oracle Subledger Accounting Implementation Guide

• Question 3:

  The General Ledger supervisor requested a schedule be created to AutoPost the subledger accounts different times. To accomplish this, the AutoPost criteria need to be set by .

  A. Category
  B. Source
  C. Batch
  D. Journal
  D. Journal

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  You can automatically post journal batches that meet specific criteria you've defined in an AutoPost criteria set. You can define multiple criteria sets that include a range of journal effective dates and multiple AutoPost priorities. AutoPost priorities include combinations of journal source, journal category, balance type, and period.

  Reference: Posting Journal Batches Automatically (AutoPost)

• Question 4:

  What are the two functions that Oracle Fusion Approvals Management (AMX) merges to approve journal flow?

  A. Oracle Approvals Management (AME)
  B. Oracle PeopleSoft Approvals (AWE)
  C. Business Process Execution Language (BPEL)
  D. Oracle Workflow
  A. Oracle Approvals Management (AME)
  B. Oracle PeopleSoft Approvals (AWE)

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  Journal approval in Oracle Fusion applications uses Oracle Fusion Approvals Management (AMX) to merge the functionality of Oracle Approvals Management (AME) and PeopleSoft Approvals (AWE).

  Reference: Oracle Fusion Applications Financials Implementation Guide, Approving Journals: Points to Consider

• Question 5:

  Identify the valid data source where key Figure Manager is used for Financial Reporting.

  A. EssBase
  B. Financial Management
  C. Planning
  D. SAP BW
  E. MSOLAP
  D. SAP BW

  ---

  Key Figure Manager is used against an SAP BW data source only.

  Reference: Using the Key Figure Manager for Financial Reporting

• Question 6:

  Where do end users modify preferences, such as time zone, delivery devices and delivery profile?

  A. My Agents
  B. My Dashboard page
  C. My Scorecards
  D. My Reports
  E. My Account dialog box
  E. My Account dialog box

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  My Account -- Displays the "My Account dialog", where you can specify your preferences, such as time zone, delivery devices, and delivery profile.

  Reference: Oracle Fusion Middleware User's Guide for Oracle Business Intelligence Enterprise Edition (Oracle Fusion Applications Edition), What Is the Oracle BI EE Global Header?

• Question 7:

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

  A. Add the periods manually.
  B. Use the Add Year button.
  C. Run the Other - Calendar Validation Report.
  D. The application automatically populates the next period.
  B. Use the Add Year button.

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  Update an existing calendar before the new periods are needed as future periods, based on the future period setting in your accounting configuration. If a complete year has been defined and validated, use the Add Year button to add the next year quickly. The Add Year button automatically adds the rows for the new year. These new rows can be accepted or changed. For example, with the Other frequency type calendar, dates may differ from what the application generated and need to be changed.

  Reference: Oracle Fusion Help, When do I update an existing calendar?

• Question 8:

  Select the appropriate financial Reporting Center functionality that helps users to view, input, manipulate, distribute and share data from the General Ledger balances to Microsoft Excel.

  A. Account Monitor and Account Inspector
  B. Smart View
  C. Financial Reporting Workspace
  D. Financial Reporting Studio
  B. Smart View

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  Oracle Hyperion Smart View for Office (Smart View) is a component of Hyperion Foundation Services. Smart View provides a common Microsoft Office interface designed specifically for Oracle's Enterprise Performance Management (EPM) and Business Intelligence (BI). Using Smart View, you can view, import, manipulate, distribute and share data in Microsoft Excel, Word and PowerPoint interfaces. It is a comprehensive tool for accessing and integrating EPM and BI content from Microsoft Office products.

• Question 9:

  A user wants to enter a multiple currency journal in the General Ledger. What must the user do to see the conversion rate type, conversion date, and conversion rate columns?

  A. At the Journal Header level, accept the default value in the currency field.
  B. At the Journal Header level, select a blank value in the currency field.
  C. At the Journal line level, accept the default value in the currency field.
  D. At the Journal line level, select a blank value in the currency field.
  C. At the Journal line level, accept the default value in the currency field.

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  Note: Maintain different conversion rates between currencies for the same period with the Oracle Fusion General Ledger conversion rate types functionality. Four predefined daily conversion rate types are seeded: Spot, Corporate, User, and Fixed, allowing you to use different rate types for different business needs. During journal entry, the conversion rate is provided automatically by the General Ledger based on the selected conversion rate type and currency, unless the rate type is user. For user rate types, you must enter the conversion rate. Define additional rate types as needed. Set your most frequently used rate type as the default. Conversion rate types cannot be deleted.

• Question 10:

  Identify two valid points to be considered when configuring the workspace database connection.

  A. Ledgersetup has to be completed after the database connection is created.
  B. Cubes are created as part of ledger setup.
  C. Multiple cubes can be defined for each combination of the chart of accounts and the accounting calendar.
  D. A database connection is needed for each cube.
  E. An ODBC connection is always required.
  B. Cubes are created as part of ledger setup.
  D. A database connection is needed for each cube.

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  B: Cubes are created as part of ledger setup.

  D:A database connection is needed for each cube.

  Reference: Oracle Fusion Applications Post-Installation Guide, Configuring Workspace Database Connection