Oracle 1Z0-508 Online Practice Questions and Exam Preparation

Oracle 1Z0-508 Online Questions & Answers

• Question 41:

  Identify the SmartView Ribbon command that is used to display levels in the Member hierarchy.

  A. Drill Through
  B. Cascade
  C. Zoom in and Zoom out
  D. Query
  C. Zoom in and Zoom out

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  When you zoom in on a member, it is expanded according to the options specified in the Options dialog box. If you select the option to zoom in on all levels, the grid displays all descendants of the selected member.

  The default zoom option is to zoom in to the next level to retrieve data for the children of the selected member or members. For example, if you double-click the [Year] member, the system displays Quarter1, Quarter2, Quarter3, and Quarter4.

  You can zoom in on the bottom level to retrieve data for the lowest level of members in a dimension. You can select retrieving data for the sibling level, the same level, or the same generation as the selected member.

  Reference: Oracle Hyperion Smart View for Office, User's Guide, Zooming In on Dimension Members

• Question 42:

  What is the primary source of data that is used for the Financial Reporting Center?

  A. data from the balances cubes and dimensions contained in the chart of account segments
  B. transaction tables
  C. defined dimensions for journals
  D. the Code Combinations table
  A. data from the balances cubes and dimensions contained in the chart of account segments

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  Administrators need to create database connections from Workspace so users can access the cubes from either Workspace or Financial Reporting Studio. Reference: Oracle Fusion Applications Financials Implementation Guide 11g, Setting up Your Financial Reporting Center: Critical Choices

• Question 43:

  Which two locations display reports and folders that you have been granted access to based on your role, but have NOT created?

  A. My folders
  B. My Report
  C. Shared Folders
  D. Catalog
  E. Analyzer
  A. My folders
  C. Shared Folders

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  Note: Oracle recommends that you save the following objects to the subject area folder: calculated items, custom groups, and filters. If a subject area folder does not exist in your /My Folders folder or within the /Shared Folders folder, then Oracle BI EE creates a subject area folder and the Save As dialog will default a save path to /My Folders/Subject Area Contents/. Saving these objects to the subject area folders ensures that they will be available when you build an analysis for the same subject area.

• Question 44:

  You have created allocution and periodic journal entry definitions for several monthly entries. You are now ready to generate allocation entries. Which task must be completed before generating the allocation and periodic entries?

  A. Set the period to Close or Open.
  B. Define, validate and deploy the rules or rule sets successfully from Allocation Manager.
  C. Enter and post the journal balances for Mass Allocation in the Close period.
  D. Manually set the last day of the submission period as the Accounting Date and Calculation effective Date.
  C. Enter and post the journal balances for Mass Allocation in the Close period.

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  Creating Allocation Entries

  You can allocate amounts from any cost pool (revenues, expenses, assets, or liabilities) to various accounts using recurring journals and MassAllocation formulas.

  With a recurring journal entry formula, you define a separate journal entry for each allocation. You can group related allocation entries together in a recurring journal batch.

  With MassAllocations, you define one formula to generate allocation journal entries for a group of cost centers, departments, divisions, and so on. You define the allocation pool, the allocation formula, and the target and offset accounts for

  each MassAllocation formula. You can also group

  combine related MassAllocation formulas into batches.

  Using recurring journal entry and MassAllocation formulas, you can perform a variety of allocations, including:

  Net Allocations

  Step-Down Allocations

  Rate-Based Allocations

  Usage-Based Allocations

  Standard Costing Allocations

  Reference: Oracle Applications, General Ledger, Creating Allocation Entries

• Question 45:

  Account Rules are specific to .

  A. Subledger application
  B. Event Classes
  C. Event Types
  D. Accounting methods
  E. Journal Rule sets
  A. Subledger application

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  Note:

  *

  The Create Accounting process uses the values of sources assigned to accounting attributes plus accounting rules to create subledger journal entries.

  *

  Accounting rules can be defined with either a top down, or a bottom up approach. When defining subledger accounting rules from the top down, you will initially define the accounting method followed by components of each rule, which will

  need to be assigned to it. When defining

  subledger accounting rules from the bottom up, you will initially define components for each rule and then assign them as required.

  *

  Define accounting rules to create revenue recognition schedules for your invoices. Accounting rules determine the number of periods and percentage of total revenue to record in each accounting period. You can use accounting rules with

  transactions that you import into Receivables using AutoInvoice and with invoices that you create manually in the Transaction windows. You can define an unlimited number of accounting rules.

  *Use accounting rules to determine revenue recognition schedules for your invoice lines. You can assign a different accounting rule to each invoice line. Accounting rules let you specify the number of periods and the percentage of the total

  revenue to recognize in each period.

  You can also specify whether the accounting rules are of Fixed or Variable Duration. Accounting rules of Fixed Duration span a predefined number of periods. Accouning rules of Variable Duration let you define the number of periods during invoice entry.

  Reference: Oracle Fusion Applications Financials Implementation Guide, Define Subledger Accounting Rules

• Question 46:

  How is an online ad hoc pivot table created?

  A. Export to Microsoft Excel to perform data manipulation
  B. Use the input parameters feature online
  C. Use Online Analyzer, if granted access by an administrator
  D. Use the Location feature
  E. Use Style Templates
  C. Use Online Analyzer, if granted access by an administrator

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  This procedure describes how to create an interactive pivot table using the Online Analyzer.

  From the report viewer, click Actions and then click Analyzer. Etc.

  Reference: Oracle Fusion Middleware User's Guide for Oracle Business Intelligence Publisher; Creating an Interactive Pivot Table

• Question 47:

  An invoice with two lines is entered, later that day an adjustment is made to the invoice to add another line. At the end of the day, the invoice is sent to the Fusion Accounting Hub. How many events would you create?

  A. Twoevents: one for invoice creation and one for the adjustment
  B. Oneeventforinvoice creation; adjustment happened before transaction sent to the Fusion Accounting Hub
  C. Threeevents: one for invoice creation and two for line creation
  D. Fourevents: one for invoice creation, one each for the two lines arid one for the adjustment
  B. Oneeventforinvoice creation; adjustment happened before transaction sent to the Fusion Accounting Hub

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  Note: Some business events have financial accounting significance and require the recording of financial information. These business events are known as accounting events and provide the data used in accounting transformations.

  Examples of business events from a revenue recognition or billing system include:

  Complete an invoice Record a payment Record late charges

  Examples of business events from a point of sale system include:

  Record an order Accept a payment Receive a return

  Examples of business events from a loan (core banking) system include:

  Originate a loan Fund a loan Record late charges for a loan

• Question 48:

  To open a period without going into the Setup and Maintenance work area you can maintain the period statuses of ledger from the work area.

  A. General Ledger Journals
  B. Process Monitoring
  C. Manage Revaluations
  D. Account Monitoring
  A. General Ledger Journals

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  Manage Allocations and Period Entries is a manual task in the implementation project. Use the Allocation Manager to create allocations and other formulaic journal templates for generating periodic journal entries automatically. Base formulas

  on multiple criteria.

  You must perform an external procedure outside the Setup and Maintenance work area to complete this task. In order to setup your allocations rules, navigate to the Journals work area and click the Create Allocations Rules task from the

  Tasks pane. This task navigates you to Allocation Manager, a framework that enables you define your allocation rules and formulas using a graphical interface and intuitive step-by-step wizards.

  Oracle: Oracle Fusion Applications Financials Implementation Guide, Manage Allocations and Period Entries

• Question 49:

  A client is implementing Fusion Accounting Hub for their external receivable system. The external system sends invoices billed and cash receipts in a flat file along with the customer classification Information. The client wants the accounting amounts to be tracked by customer classification, but NOT necessarily in a Chart of Accounts segment. How can this be solved?

  A. Use supporting references to capture customer classification.
  B. Capture it as a source and develop custom report.
  C. Change the Chart of Accounts structure to include customer classification; there is no other option.
  D. Use the Third Party control account feature.
  E. Use Open account balances listing.
  A. Use supporting references to capture customer classification.

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  You can store balances based on business dimensions outside your chart of accounts using supporting references. In other words, supporting references extend your chart of accounts without cluttering your general ledger with unnecessary detail. For example, you can store balances based on geographies, channel, industry, investment type, fund manager or product category without including these key business dimensions in the chart of accounts. These balances are stored in the accounting repository, readily available for reporting and analytics Reference: Oracle Fusion Accounting Hub, Oracle Data Sheet.

• Question 50:

  You have been given a task to update a calendar by adding a new period to it. What is the quickest way to perform this task?

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

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  Define the Calendar Periods

  Use the Accounting Calendar form to define your calendar (navigation =Setup..Financials..Calendar..Accounting).

  You associate a calendar and period type with each set of books. Oracle General Ledger lets you maintain multiple calendars.

  For each calendar, you should set up one complete year at a time, specifying which types of accounting periods you will include in each year. Oracle General Ledger lets you add periods to your calendar at any time. When you define new

  accounting periods, remember to use the same

  period type that you originally assigned to your set of books. These are the only periods that General Ledger will recognize for your set of books.

  Note: Define your calendar to fit your business. You can define a calendar for any fiscal year, and have up to 366 accounting periods for use with actuals and 60 periods for use with budgets. The periods can be of different lengths, but they all

  must be of the same period type for one set of

  books, in order for General Ledger to recognize them.