Oracle 1Z0-508 Online Practice Questions and Exam Preparation

Oracle 1Z0-508 Online Questions & Answers

• Question 91:

  How can you restrict access to dashboards, dashboard pages, and other presentation catalog objects?

  A. Use membership controls to limit user access.
  B. Assign object security to predefined groups.
  C. Create a custom dashboard In Oracle Business Intelligence Enterprise Edition (OBIEE).
  D. Use the security filter.
  A. Use membership controls to limit user access.

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  Permissions and privileges can be assigned to users directly or through membership in application roles or Catalog groups. From another perspective, permissions and privileges can be assigned explicitly or effectively. Effective permissions and privileges are assigned indirectly through inheritance from application roles or Catalog groups, which is the recommended approach for assignments.

  Reference: Oracle Fusion Middleware System Administrator's Guide for Oracle Business Intelligence Enterprise Edition, Managing Security for Dashboards and Analyses

• Question 92:

  The company has four legal entities operating in US CA, US-NY, Canada and the UK. The chart of accounts and the accounting calendar are the same for US CA, US-NY and Canada but NOT for the UK.

  How many ledgers are needed?

  A. Four
  B. Two
  C. One
  D. three
  B. Two

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  Note: Ledger Processing Options If there are legal entities that require any one of the below ledger processing options to be different, then define a separate primary ledger for each legal entity and therefore, a new accounting setup

  Ledger Processing Options are defined at the ledger level and refer to the following options that control how journals and transactions are processed for that ledger:

  First Ever Opened Period

  Number of Future Enterable Periods

  Retained Earnings Account

  Subledger Accounting Options, such as the subledger accounting method, journal description language, entered currency balancing account, cash basis accounting, and the ledger currency balancing account

  Option to track balances using a secondary segment Suspense Account Rounding Differences Tracking Account

  Intracompany Balancing option Journal Approval Journal Entry Tax Journal Reversal Criteria Set Default Period End Rate Type Default Period Average Rate Type Cumulative Translation Adjustment Account Journal Reconciliation Budgetary Control Reserve for Encumbrance Account Average Balance Processing Average Balance Consolidation Net Income Account Transaction Calendar Reference: Oracle Financials Implementation Guide , Overview of Accounting Setups

• Question 93:

  With which two options can Mapping Sets validate input values?

  A. Lookup Types
  B. Value Sets
  C. Accounting Segment
  D. FlexFields
  A. Lookup Types
  B. Value Sets

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  Mapping sets enable you to assign a specific output value to an Accounting Flexfield or Accounting Flexfield segment. You use mapping sets when you set up account derivation rules. Account derivation rules determine the Accounting Flexfield values for subledger journal entries.

  Oracle Projects does not provide any predefined mapping sets. You can optionally define your own mapping sets. When you enter input values for mapping sets, you can select from a list of values based on either an existing lookup set or value set. You also specify the Accounting Flexfield segment and select segment values from a list of values.

  For example, you can select a lookup type of service type for the input and the Accounting Flexfield segment program as the output. You then select the service type and program segment values from lists of values as you define each pair

  Reference: Oracle Projects Implementation Guide, Mapping Sets

• Question 94:

  Identify the two steps that must be completed when performing Accounting Configuration

  A. Create Legal Entities
  B. Create Primary Ledgers
  C. Create Reporting Currencies
  D. Open First Period
  A. Create Legal Entities
  B. Create Primary Ledgers

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  The Setup and Maintenance work area in the Oracle Fusion Applications is used to manage the configuration of legal entities, ledgers, and reporting currencies that comprise your accounting configuration. To create a new legal entity or ledger, your implementation consultant or system administrator must create an implementation project. This implementation project can be populated by either adding a financials related offering or one or more task lists.

  Reference: Oracle Fusion Applications Financials Implementation Guide, Accounting Configuration: Overview

• Question 95:

  The Receivables and Payables accounts that are automatically generated by intercompany transactions use rules and attributes in what order?

  A. Primary Balancing Segment Rules; Ledger Entity Level Rules; Ledger Level Rules;Chart of Account Rules
  B. Ledger entity Level Rules; ledger Level Rules; Chart of Account Rules; Primary Balancing Segment Rules
  C. Chart of Account Rules; Primary Balancing Segment Rules; Ledger Entity Level Rules; Ledger Level Rules
  D. Ledger Level Rules;Primary Balancing Segment Rules;Ledger Entity Level Rules; Chart of Accounts Rules
  E. Chart of Account Rules; Ledger Entity Level Rules, Primary Balancing Segment Rules; Ledger Level Rules
  A. Primary Balancing Segment Rules; Ledger Entity Level Rules; Ledger Level Rules;Chart of Account Rules

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  Defining Intercompany Balancing Rules You can define intercompany balancing rules at the following rule levels: 1.Primary balancing segment

  2.Legal entity 3.Ledger 4.Chart of accounts

  The rules are evaluated in the order shown above.

  Reference: Oracle Fusion Accounting Hub Implementation Guide, Intercompany Balancing Rules: Explained

• Question 96:

  XYZ Company has two departments: Marketing and Finance. The Finance Department has two Functional divisions: receivables and payables. Select the flow for establishing hierarchy.

  A. Hierarchy between functional divisions only
  B. Hierarchy between departments only
  C. Hierarchy between the organization and its departments, and between the departments and their respective functional divisions
  D. hierarchy between the organization and its departments and functional divisions only
  C. Hierarchy between the organization and its departments, and between the departments and their respective functional divisions

• Question 97:

  Oracle Business Intelligence Enterprise Edition available through iPhone and iPad devices. Which three BI EE object content are visible through a mobile device?

  A. Analysis, including analytic actions
  B. Tables, excluding drilling
  C. Action
  D. Scorecard, including analytic actions
  E. Briefing book, limited to alerts visible in the Alerts list
  A. Analysis, including analytic actions
  C. Action
  D. Scorecard, including analytic actions

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  Oracle Business Intelligence Mobile, part of Oracle Business Intelligence Foundation Suite, provides the ability to deliver analyses, dashboards, alerts, and other BI content directly to mobile devices, enabling users to view and then take action on BI insights wherever they are.

  Intelligence Mobile gives you the full spectrum of BI functionality on hoc query, OLAP analysis, dashboards and scorecards. You even have the ability to turn insight into action directly from your mobile reports and dashboards. Reference: Oracle Business Intelligence Mobile, Data Sheet

• Question 98:

  Identify the set up that needs to be completed before you can use cubes.

  A. Microsoft Office
  B. Ledger
  C. FSG
  D. Report Builder
  B. Ledger

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  Fusion Accounting Hub leverages the Fusion General Ledger. The Fusion General Ledger combines traditional general ledger functionality with Oracle Essbase functionality, which is seamlessly embedded within the Fusion General Ledger.

  For example, at the time users create their chart of

  accounts, the Oracle Essbase cube is created.

• Question 99:

  Choose the three interfaces that integrate with SmartView to view, import, manipulate, distribute and share data.

  A. Microsoft Excel
  B. Microsoft Access
  C. Microsoft Word
  D. Microsoft PowerPoint
  E. Microsoft Notes
  A. Microsoft Excel
  C. Microsoft Word
  D. Microsoft PowerPoint

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  Using Smart View, you can view, import, manipulate, distribute and share data in Microsoft Excel, Word, Outlook and PowerPoint interfaces.

• Question 100:

  To set up the intercompany transaction using the Chart of Account rule, you will have to .

  A. specify the Chart of account intercompany receivables accounts, intercompany payables account the source and the category
  B. specify the chart of account intercompany receivables only
  C. specify the chart of accounts intercompany payables only
  D. specify the chart of account intercompany receivables and intercompany payables accounts
  D. specify the chart of account intercompany receivables and intercompany payables accounts

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  Defining intercompany Receivables and Payables accounts is required before using the intercompany feature.

  Note:

  *

  You must define Intracompany balancing rules if you want to balance journals automatically. You may define as many or as few balancing rules as you choose, and each balancing rule may have one or many accounting rules.

  *

  Intracompany balancing allows you to define rules according to the business needs of your company. When there are many balancing rules defined, the Balancing API uses an evaluation order to pick the appropriate rule. Once the balancing rule is selected, there may also be several accounting rules that must be evaluated on the balancing rule. The Balancing API uses the same order for evaluating accounting rules, and understanding this evaluation order will help you define your balancing rules and accounting rules.

  Reference: Oracle Financials Implementation Guide, Intercompany and Intracompany Balancing