Oracle 1Z0-508 Online Practice Questions and Exam Preparation

Oracle 1Z0-508 Online Questions & Answers

• Question 11:

  A Client has a sales region the East coast and one on the West coast. The East coast sales region wants data analyzed for only their region. Which tool should be used?

  A. Web ADI
  B. SmartView
  C. SmartSlice
  D. SmartCube
  C. SmartSlice

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  A Smart Slice is a perspective of a data source containing a set of dimension members that can be reused.

  As analytic and financial databases grow in size (in respect to both dimensionality and scope of data), it is important to provide users with a better set of tools to focus in on the data and type of analysis they need. In the 11.1.1.0.0 release

  Smart View provides the ability for admin users to model supported data sources through the Smart Slice modeling interface. This lets admin users determine the specific dimensionality and preferences to make available to end users who

  desire access to a specific data perspective when working with a data source.

• Question 12:

  A company has different methods of inventory valuation. What would be the best way of capturing this in the Fusion Accounting Hub?

  A. Secondary Valuation method
  B. Account Derivation Rules
  C. Journal Line Types
  D. Adjustments in the General Ledger
  C. Journal Line Types

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  Note: The Applied to Amount accounting attribute is used to calculate the accounted amount and gain or loss in cross-currency applications when business flows are implemented. This attribute value is used to calculate the accounted amount when a source is mapped to the Applied to Amount attribute on a journal line type and the entered currency is different than the original currency entered.

• Question 13:

  At which two levels do you need to enable the approval process you start defining it?

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

• Question 14:

  Where can a multidimensional analysis of accounting balances be performed online?

  A. Forecast and Actual versus Quota
  B. Revenue Influenced by Program
  C. Account Monitor and Account Inspector
  D. Requisition Overview
  E. Project Analytics
  C. Account Monitor and Account Inspector

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  Use Account Monitor and Account Inspector to perform online multidimensional analysis of accounting balances. Reference: Oracle Fusion Accounting Hub Implementation Guide, Financial Reporting Center

• Question 15:

  Choose four applications for which SmartView provides a common Microsoft Office interface.

  A. Oracle Hyperion Financial Management, Fusion Edition
  B. Oracle Hyperion Planning, Fusion Edition
  C. Oracle E-Business Suite Release 11g
  D. Oracle Enterprise Performance Management Workspace, Fusion Edition
  E. Oracle Business Intelligence Enterprise Edition
  F. Oracle Essbase
  A. Oracle Hyperion Financial Management, Fusion Edition
  B. Oracle Hyperion Planning, Fusion Edition
  D. Oracle Enterprise Performance Management Workspace, Fusion Edition
  E. Oracle Business Intelligence Enterprise Edition

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  A, B: SmartView provides anOffice-based interface for leveraging Hyperion Planning, Hyperion Financial Management, and Hyperion Workforce Planning data entry forms D, E:Oracle Hyperion Smart View for Office, Fusion Edition (Smart View) provides a common MicrosoftOffice interface for the OracleEnterprise Performance Management (EPM) suite of products along with Oracle Business Intelligence (BI) data sources

  Note: 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 16:

  Which task enables you to define the legal entities that are classified as intercompany organizations?

  A. Enter intercompany transactions.
  B. Define intercompany transactions.
  C. Manage intercompany transactions.
  D. Edit intercompany transactions.
  C. Manage intercompany transactions.

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  The Manage Intercompany Organizations task allows you to define the legal entities that are classified as intercompany organizations.

  Note:

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  Advanced Global Intercompany System (AGIS) enables you to create, settle and reconcile intercompany transactions. Intercompany transactions are transactions that occur between two related legal entities in an enterprise or between

  groups in the same legal entity. Transactions that occur between two legal entities are called intercompany transactions and transactions that occur between two groups within one legal entity are called intracompany transactions.

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  Optionally, assign an intercompany segment. You can use the intercompany segment to identify the legal entities involved in intercompany transactions.

  Assign the Secondary Tracking Segment qualifier to one of the segments in your chart of accounts. You cannot use the primary balancing, intercompany, or natural account as the secondary segment.

  Reference: Oracle Fusion Applications Financials Implementation Guide , Managing Intercompany Organizations: Points to Consider

• Question 17:

  Which statement about intercompany balancing is INCORRECT?

  A. Intercompany balancing is used to balance transactions by an additional dimension beyond the primary segment.
  B. Intercompany balancingisused to track intercompany duo to/due from balances by identifying the specific trading company.
  C. The intercompany qualified segment can NOT be set with any of the three balancing segment qualifiers.
  D. Segment values can be assigned more than once within your chart of account.
  E. Segment values can be assigned only once within your chart of account.
  D. Segment values can be assigned more than once within your chart of account.

• Question 18:

  Choose the Oracle application that will automatically update the chart of accounts values and Hierarchies across multiple Oracle E-Business Suite and Oracle Fusion instances through a single application.

  A. Oracle Fusion General Ledger Suite
  B. Oracle Fusion Accounting Hub
  C. Oracle Hyperion Data Relationship Management
  D. Oracle Business Intelligence Enterprise Edition
  C. Oracle Hyperion Data Relationship Management

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  Oracle Hyperion Data Relationship Management, Fusion Edition integration provides the opportunity to perform charts of accounts and hierarchies maintenance. Data Relationship Management is a master data management application and requires licensing. The functionality also establishes corporate wide accounting structures, for Oracle and non-Oracle ledgers, and automatically updates charts of accounts and hierarchies across multiple ledgers.

  Reference: Oracle Fusion Accounting Hub Implementation Guide, Oracle Fusion Accounting Hub Features: Overview

• Question 19:

  A customer is trying to build dynamic reports in Fusion Financial Reporting. What are two recommendations?

  A. Use Function on expanded data segments that are NOT placed on separate rows or columns.
  B. Create reusable objects and row and column templates.
  C. Use cell formulas to write efficient formulas rather than row or column formulas.
  D. Use multiple data segments for formatting or calculating.
  A. Use Function on expanded data segments that are NOT placed on separate rows or columns.
  B. Create reusable objects and row and column templates.

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  When designing dynamic reports, consider the following information: l Use expanded data segments for optimal performance:

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  Use functions on expanded data segments that are not placed on separate rows/columns (A)

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  Use multiple member selections on expanded data segments that are not placed in separate rows/columns

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  Use single data segments only when required for formatting or calculations 2 Write efficient formulas:

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  Use row/column formulas rather than cell formulas, when possible (not C)

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  Use reference properties

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  Use a cell reference instead of cross-axis references

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  Remove unnecessary parenthesis from formulas 3 Don't limit your report to the Grid object:

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  Add functions in text boxes that highlight specific areas

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  Hide a grid of data in a report to highlight just the graphics 4 Create report templates:

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  Leverage the power of POVs and prompting functions

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  Design once using the CurrentPOV and prompting functions

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  Learn the power of Grid, User, Book, and Batch POVs 5 (B) Create reusable objects and row and column templates. Text, Image, Grid, Chart objects, and row and column templates can be reused in multiple reports

  Reference: O R A C L E H Y P E R I O N F I N A N C I A L R E P O R T I N G Studio, Fusion Edition, User's Guide, Recommendations for Designing Dynamic Reports

• Question 20:

  Identify the two items that the intercompany Reconciliation reports display.

  A. ledger balancing lines generated when the primary balancing segment value is in balance, but either the second balancing segment or the third balancing segment is out of balance
  B. intercompany receivables and intercompany payables lines generated by the intercompany balancing feature
  C. intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction
  D. clearing company balance lines
  B. intercompany receivables and intercompany payables lines generated by the intercompany balancing feature
  C. intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction

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  Intercompany Reconciliation: Explained

  The main goal of the reports is to make it easy for you to identify either the receiver side or provider side of a transaction that has not been posted to the intercompany receivables or intercompany payables account.

  The reports show the following intercompany lines:

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  (B)Intercompany receivables and intercompany payables lines generated by the intercompany balancing feature

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  (C)Intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction The following are not included on the intercompany reconciliation reports:

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  (not A)Ledger balancing lines generated when the primary balancing segment value is in balance, but either the second balancing segment or the third balancing segment is out of balance

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  (not D)Clearing company balancing lines Reference: All > Financial Control and Reporting > Close Accounting Period > Reconcile Accounts, Intercompany Reconciliation: Explained