Oracle 1Z0-508 Online Practice Questions and Exam Preparation

Oracle 1Z0-508 Online Questions & Answers

• Question 111:

  Which three options can you use from the Generate Allocations link to open the Submission page?

  A. Print Output
  B. E-mail the output
  C. Notification when this process ends
  D. Automatically saveitas an Excel file
  E. Fax the output
  A. Print Output
  B. E-mail the output
  C. Notification when this process ends

  ---

  Generating Allocations and Periodic Entries Manually

  1.From the Navigator, click the Journals link to open the Journals work area.

  2.

  In the task pane of the Journals page, click the Generate Allocations link to open the Submission page.

  3.

  Optionally select one or all of the following options:

  *

  (A) Print Output

  *

  (B) E-mail me the output

  *

  (C) Notify me when this process ends

  4.

  Select a rule or rule set from the list of values.

  5.

  Enter the submission parameters, including Ledger, Balancing Segment Value, and Period. The application automatically sets the last day of the submission period as the Accounting Date and Calculation Effective Date.

  6.

  Accept the selected check box for the Post Allocations option to enable the process to post the journal entries.

  If you deselect the check box for the Post Allocations option, you must post the entry manually or define an AutoPost Criteria Set to automatically post the journal entries.

  7.

  Click Submit.

  After the generation process is complete, the journal entries created by the process are available for inquiry on the Journals page.

  Reference: Fusion Applications Help, Generating Allocations and Periodic Entries Manually

• Question 112:

  Invoices received from a source system need to use a specific account based on 30 different expense types. However, if the invoice is from a specific supplier type, it needs to go to a default account regardless of the account type. What is the solution?

  A. Create two journal line rules with a condition of supplier type.
  B. Create an Account Rule with 31 rule elements using one condition for each expense type; and another for supplier type.
  C. Create an Account Rule with two rule elements using one for expense type mapping and the other for condition of supplier type.
  D. Create an Account Rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other without any conditions.
  C. Create an Account Rule with two rule elements using one for expense type mapping and the other for condition of supplier type.

  ---

  Note: Account rules are used to determine the accounts for subledger journal entry lines. In addition, you can specify the conditions under which these rules apply. Using these capabilities, you can develop complex rules for defining accounts under different circumstances to meet your specific requirements. You can define account rules for an account, segment, or value set *Account Rules and Mapping Sets Mapping sets can be used to associate a specific output value for an account or segment. You can use mapping sets in account rules to build the account.

  * Account Rules Conditions In the account rules you may specify conditions for each rule detail line. Priorities determine the order in which account rule conditions are examined. When the condition is met, the rule associated with that priority is used. Depending on which of the defined conditions is met, a different account rule detail is employed to create the account.

  The Create Accounting process evaluates conditions based on the priority of the rule detail. When the condition is met, the rule detail is applied.

  Reference: Oracle Fusion Applications Cost Accounting and Receipt Accounting Implementation Guide, Account Rules: Explained

• Question 113:

  You are required to enter the daily rates for currency conversion from British pound (GBP) to United States dollars (USD) each day. Which Excel add-in application do you use to load the daily rates?

  A. SmartView
  B. Web ADI
  C. Application Development Framework Integration
  D. Financial Reporting Studio
  C. Application Development Framework Integration

  ---

  You are required to enter the daily rates for currency conversion from Great Britain pounds sterling (GBP) to United States dollars (USD) each day for your company InFusion America Inc.

  Oracle Application Development Framework (ADF) Desktop Integration is an Excel add-in that must be loaded onto each client. Because ADF Desktop Integration is an add-in to Microsoft Office products, you can use this feature only if they have Microsoft Excel 2007 or above, Internet Explorer 7 or above, and Microsoft Windows 7, XP Professional SP2, or Vista. Users must download the installation files from Navigator - Tools - Download Desktop Integrator Installer.

  Reference: Oracle Fusion Applications Financials Implementation Guide, Entering Daily Rates Manually: Worked Example

• Question 114:

  Which three options tan you use from the Generate Allocations link to open the Submission page?

  A. Print Output
  B. E-mail the output
  C. Notification when this process ends
  D. Automatically save it as an Excel file
  E. Fax the output
  A. Print Output
  B. E-mail the output
  C. Notification when this process ends

  ---

  Generating Allocations and Periodic Entries Manually

  1.From the Navigator, click the Journals link to open the Journals work area.

  2.

  In the task pane of the Journals page, click the Generate Allocations link to open the Submission page.

  3.

  Optionally select one or all of the following options:

  *

  (A) Print Output

  *

  (B) E-mail me the output

  *

  (C) Notify me when this process ends

  4.

  Select a rule or rule set from the list of values.

  5.

  Enter the submission parameters, including Ledger, Balancing Segment Value, and Period. The application automatically sets the last day of the submission period as the Accounting Date and Calculation Effective Date.

  6.

  Accept the selected check box for the Post Allocations option to enable the process to post the journal entries.

  If you deselect the check box for the Post Allocations option, you must post the entry manually or define an AutoPost Criteria Set to automatically post the journal entries.

  7.

  Click Submit.

  After the generation process is complete, the journal entries created by the process are available for inquiry on the Journals page.

  Reference: Fusion Applications Help, Generating Allocations and Periodic Entries Manually

• Question 115:

  Which three actions can you perform on subledger journal entities?

  A. Finish
  B. Duplicate
  C. Reverse
  D. Close
  E. Complete
  F. Incomplete
  C. Reverse
  D. Close
  E. Complete

  ---

  C: If a payment is voided after the payment has been confirmed, you must submit the Disbursement in Transit Voided Checks process to create accounting for the voided payments. Oracle Subledger Accounting reverses all journal entries for payments that have been voided.

  E: When a subledger journal entry is completed, the reference date must be in an open or future open accounting period. Note:A subledger journal entry can have a status of Draft, Final, Incomplete, Invalid or Invalid Related Entry.

• Question 116:

  Journal Approval has been enabled, however, the journal did NOT submit to the appropriate manager for approval. Which three additional steps must, be performed for the approval process to work?

  A. Set up journal sources to use Journal approval.
  B. Create an approval hierarchy.
  C. Define approver authorization limits.
  D. Enable customization.
  E. Set up journal category to use journal approval.
  A. Set up journal sources to use Journal approval.
  B. Create an approval hierarchy.
  E. Set up journal category to use journal approval.

  ---

  A: . Set the options that enable journal approval at the ledger level and by journal source. This allows the approval process to determine which journals to send for approval.

  B:Use the following AMX List Builder to build your approval list.

  *

  Human Resources (HR) Supervisor

  This method uses the HR Supervisory hierarchy levels and specifies the number of levels available for approval.

  *

  Job Level

  A relative dollar amount can be attached to a job. The approval list moves up the HR Supervisory hierarchy to the point it finds a job with the necessary approval amount.

  E: use category, source, account, or descriptive flexfield information as selection criteria for the journals to be sent for approval.

  Reference: Fusion Applications Help, Approving Journals: Points to Consider

• Question 117:

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

  A. Effectively manage an organization's financial business.
  B. Support the audit and control of financial transactions.
  C. Provide less flexibility for management reporting and analysis.
  D. Anticipate growth and maintenance needs because organizational changes occur
  E. Select the segment qualifiers.
  A. Effectively manage an organization's financial business.
  B. Support the audit and control of financial transactions.
  D. Anticipate growth and maintenance needs because organizational changes occur

  ---

  D:Provides a good foundation for further expansion as well as appropriate storage of current and historical information.

• Question 118:

  When you use allocations, revaluation, or translation to define and maintain your period close component, which three tasks should you perform under the Define Period Close Components parent task in your implementation project?

  A. Manage Allocations and Period Entries.
  B. Manage Revaluations.
  C. Manage General Accounting Dashboard.
  D. Manage Historical Rates.
  E. Manage intercompany Settlements.
  A. Manage Allocations and Period Entries.
  B. Manage Revaluations.
  D. Manage Historical Rates.

  ---

  If you use allocations, revaluation, or translation, configure the following tasks under the Define Period Close Components parent task in your implementation project: Manage Allocations and Period Entries

  Manage Revaluations Manage Historical Rates Reference: Oracle Fusion Accounting Hub Implementation Guide, Period Close Components: Explained

• Question 119:

  Which is an INCORRECT Function for Fusion intercompany?

  A. You can use a simple setup in which you define one rule for your chart of accounts.
  B. The rule defined in intercompany canbe used for all intercompany balancing of all ledgers that use the same chart of accounts.
  C. Intercompany enables you to have a more granular set of rules.
  D. You do NOT have the functionality to define rules for specific Journal and category combinations for intercompany transaction types.
  D. You do NOT have the functionality to define rules for specific Journal and category combinations for intercompany transaction types.

  ---

  D (not C): You can have a more granular sset of rules. For example, you can define a different rule for each legal entity and one chart of accounts rule to cover any gaps in your rule definitions. You can gain even more granularity by defining rules for specific journal and/or category combinations or intercompany transaction types.

  Reference: Oracle Fusion Applications Financials Implementation Guide, Defining Intercompany Balancing Rules

• Question 120:

  The Link Journal Lines option in a Journal Line Rule is set to "Copy from Corresponding Line." What would this do?

  A. copies the description from the debitline to the credit line
  B. copies the accounted amount from a previous journal
  C. copies the accounting dale from a previous journal
  D. builds account for a journal line using segments from the offsetting entry of the current journal line
  E. copies from a previous journal line
  D. builds account for a journal line using segments from the offsetting entry of the current journal line

  ---

  Copy from Corresponding Line:

  Build account for a journal line using segments from the offsetting entry of the current journal line.

  For example, when the business process requires that a cost center incurring an expense must also bear the invoice liability and cash outlay.

  Reference: Oracle Fusion Applications Financials Implementation Guide , Link Journal Lines Option