Oracle 1Z0-508 Online Practice Questions and Exam Preparation

Oracle 1Z0-508 Online Questions & Answers

• Question 121:

  The life cycle of a transaction's accounting impact is modeled by using .

  A. Event Classes and Types
  B. Process Categories
  C. Journal Categories
  D. Journal Sources
  E. Event Entities
  A. Event Classes and Types

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  Note:

  * Accounting events have financial accounting significance and are used as a basis for the recording of financial information.

  *The event status is an indicator of what actions have been completed on the transaction and what operations are yet to be done. It is a snapshot of where the transaction is in its accounting event life cycle.

  Reference: Oracle Financial Services Accounting Hub Implementation Guide

• Question 122:

  Identify the two valid EPM Workspace features that designers incorporate into Books to enable viewers perform tasks.

  A. Prompt
  B. User POV
  C. XML, HTML and PDF
  D. Related Content
  E. Email inks
  A. Prompt
  B. User POV

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  A: Some reports are designed with prompts, which are displayed when you view the reports or books containing the reports. You respond to prompts and provide requested information by selecting members from prompt lists. You can edit

  prompts manually. If prompts contain alias names, you convert them to member names.

  B: Dimensions often contain members that you may never access. Setting up the user POV enables you to create a choices list for any dimension in a specified data source, where only the members in the choices list are displayed when the

  dimension is accessed from the user POV.

  When a report is added to a book, the dimensions that are on the user POV in the report definitions are applied to the book POV. Members on the book POV default to the user POV in the Book Editor.

  Note: Books are created, edited, and savedin EPM Workspace.

  Reference: Oracle Hyperion Financial Reporting, User's Guide,Setting Up the User POV for Financial Reporting Documents

• Question 123:

  There is a performance issue with new account hierarchies. Which setting would you update to improve performance?

  A. Row set
  B. Column set
  C. ADF Business component View Objects
  D. Parent Child Relationship
  C. ADF Business component View Objects

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  Oracle ADF view objects are business components that collect data from the datasource, shape that data for use by clients, and allow clients to change that data in the Oracle ADF Business Components cache Oracle ADF Business Components uses a sophisticated caching system to improve performance and maintain consistent views of data.

  Note: To maintain reliable data consistency, many operations lock an account at the beginning of the transaction. With an account hierarchy, this means that many of the associated accounts are also locked. While this provides reliable data consistency, it can cause a lot of serialization which decreases the throughput of the system.

  If, through the use of account hierarchies, this problem affects your system, you may choose to lock specific balance groups instead of the whole account.

• Question 124:

  In Oracle Fusion, you can NOT edit the period after it is set to .

  A. Open
  B. Pending Closed
  C. Open or Enterable
  D. Closed
  D. Closed

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  Note: After the Receivables period is set to status Close Pending or Closed the drilldown data is real-time and summary data is static.

• Question 125:

  Fusion Accounting Hub includes Hyperion Data Management, which can be used .

  A. Chart of Accounts Hierarchy maintenance
  B. the maintenance of Trading Community Data
  C. Chart of Accounts Master Data maintenance
  D. data access and security
  E. data modeling
  C. Chart of Accounts Master Data maintenance

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  Oracle Fusion Accounting Hub is integrated with Oracle Hyperion Data Relationship Management, Fusion Edition, which is a master data management solution for creating and maintaining hierarchies across your enterprise. This integration allows you to maintain your charts of accounts values and hierarchies in one central location, and then to synchronize your hierarchies in Oracle Fusion and E-Business Suite General Ledgers. With licensing and integration of Data Relationship Management, you can:

  *

  Update and change Data Relationship Management versions and hierarchies. The results of these changes are exported to the values sets in the Oracle Fusion and E-Business Suite General Ledgers, E-Business Suite parent child hierarchies, and Oracle Fusion Trees.

  *

  Synchronize charts of accounts and hierarchies across multiple Oracle general ledger instances.

  *

  Store segment value attributes, such as account type, start date, and end date, providing the ability to enter such values in Data Relationship Management and integrate them to Oracle Fusion and E-Business Suite General Ledgers.

  *

  Submit standardized E-Business Suite Standard Request Submission and Oracle Fusion Enterprise Schedule Service requests from both the E-Business Suite and the Oracle Fusion General Ledgers to import values from Data Relationship Management.

  Reference: Oracle Fusion Accounting Hub Implementation Guide 11g, Integration with Hyperion Data Management

• Question 126:

  Changing a Fusion Intercompany system option would .

  A. be effective on transactions in progress
  B. take effect only on new transactions going forward
  C. impact both new and transactions in progress
  D. will be retroactive and include historical transactions
  E. take effect on new, existing, and transactions in progress
  B. take effect only on new transactions going forward

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  Changing and saving a system option will have no effect on intercompany transactions already in progress. Intercompany system options will only affect new intercompany transactions, and are not retroactive to any transactions previously

  entered.

  Note: Define intercompany system options to set up intercompany processing rules at the enterprise level, based on your specific business needs.

  In order to maintain consistency throughout an enterprise, intercompany transaction processing rules should be defined at the enterprise level. By standardizing these rules, an enterprise can minimize disputes, decrease processing time, and

  cut administrative costs.

  Reference: Oracle Fusion Applications Financials Implementation Guide, Intercompany System Options: Explained

• Question 127:

  Which three rule types are used to build an account rule?

  A. Account Combination
  B. Segment
  C. Value Set
  D. Mapping Set
  E. System Transaction Identifiers
  B. Segment
  C. Value Set
  D. Mapping Set

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  B: Account Rules by Segment

  Define segment rules to derive a specific segment of the general ledger account.

  C: Account Rules by Value Sets

  In the absence of a chart of accounts, you may define account rules based upon value sets. This enables you to share the same rule between more than one chart of accounts if the segments in these charts of accounts share the same value

  set.

  D: 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. Reference: Fusion Applications Help, Account Rules: Explained