Oracle 1Z0-508 Online Practice Questions and Exam Preparation

Oracle 1Z0-508 Online Questions & Answers

• Question 71:

  The reconciliation report shows the Entered or transaction amount of the accounting entries booked to the intercompany receivables and payables accounts for .

  A. A pair of provider and receiver legal entities
  B. A legal entity only
  C. A provider only
  D. Business segment only
  B. A legal entity only

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  Note:

  *intercompany reconciliation provides you with reports to assist you with reconciling your intercompany receivables and intercompany payables accounts, and to identify any differences.

  *

  Oracle Fusion Financials expedites the reconciliation process with interactive reconciliation reports that compare open receivables and open payables balances to the corresponding balances in Fusion General Ledger. If differences exist, it performs the labor-intensive process of matching each transaction to its respective accounting entry and automatically finds all transactions and accounting entries that contribute to the out-of-balance situation.

  *

  The Accrual Reconciliation Report is used to analyse un-invoiced receipts and to reconcile the balance of the Accounts Payable accrual accounts.

  This report enables you to identify the following problems in receiving, purchasing, inventory, work in process, or accounts payable transactions:

  Reference: Oracle Fusion Applications Financial Control and Reporting, Accounting Transactions, Tax Transactions, and Reporting Guide, Intercompany, Reconciliation: Explained

• Question 72:

  What metric values are available on the General Ledger Dashboard?

  A. Profit Centers, Period of Time, Cost Centers, Expenses Budgets versus
  B. Cost of Goods Sold, Return on Equity
  C. Price Yield, Win-Loss Ratio, Campaign Performance
  D. Schedule Compliance, Target Attainment, Service Level
  A. Profit Centers, Period of Time, Cost Centers, Expenses Budgets versus

• Question 73:

  Identify two correct behaviors of conditional suppression of rows and columns.

  A. If an entire row or column meets the criteria specified for conditional suppression, the entire row or column is hidden.
  B. When the Hide Always chock box is selected for a row or column, you can ignore the values and calculations in hidden rows and columns.
  C. If only some of the cells in a row or column meet the criteria specified for conditional suppression, the row or column is hidden.
  D. The calculation does NOT consider suppressed rows.
  A. If an entire row or column meets the criteria specified for conditional suppression, the entire row or column is hidden.
  B. When the Hide Always chock box is selected for a row or column, you can ignore the values and calculations in hidden rows and columns.

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  A: If an entire row or column meets the criteria specified for conditional suppression, the entire row or column is hidden.

  B: When evaluating suppression, you can include or ignore the values and calculations in hidden rows and columns. This option is enabled only when the Hide Always check box is selected for the row or column. Reference: Behavior of Conditional Suppression

• Question 74:

  Which is an example of embedded intelligence in the Fusion General Accounting Dashboard?

  A. moving the cursor over projected balances displays the impact a journal will have on accounts
  B. running a trial balance report to reconcile books
  C. getting more detail on a balance by clicking the Show More button
  D. setting notification thresholds in the Account Monitor view
  A. moving the cursor over projected balances displays the impact a journal will have on accounts

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  Embedded intelligence provides immediate actionable insight. This feature gives you access to information or data to help you complete your transactions. In some instances, embedded intelligence can offer suggestions or recommendations. In other instances, it can offer predictive intelligence. Embedded intelligence appears on the same page as your transaction, enabling you to always remain in the context of your task, and eliminates the need to query or run reports.

  Note: You're ready to take action to resolve the balance issue by modifying the suspect journal line. This edit can be accomplished inline. So how do you know what impact your edit will have on the account balance? This is where embedded intelligence comes in to play.

  Reference: Get It Done Fast, Get It Done Right: The Oracle Fusion Financials User Experience

• Question 75:

  What are the key performance metrics for Oracle Fusion Financials?

  A. Spend by Category, Spend by Supplier, Spend by Organization and Item Detail
  B. Pipelinefunnel. Opportunity Details, Forecast and Actual versus Quota and Forecast versus Pipeline
  C. Project Performance, Financial Management, Budget Details and Cost Details
  D. Requisitions. Vacancy Analysis, Recruitment Pipeline and Offer Analysis
  E. Expenses, Revenue, Balance Sheet, Cash Flow, Budget versus Actual, Asset Usage, Liquidity, Financial Structure and GL Balance
  E. Expenses, Revenue, Balance Sheet, Cash Flow, Budget versus Actual, Asset Usage, Liquidity, Financial Structure and GL Balance

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  Note: In the financial services industry, Economic Value Added is a financial metric that factors into the measurement of an activity's profitability the cost of economic capital assigned to that activity.

• Question 76:

  Where do actions that are configured for execution in the Action Framework appear in Oracle Business intelligence Enterprise Edition?

  A. In the Oracle BI EE Global Header section
  B. In the Analysis, Dashboards, Agents, KPIs, and scorecard objectives sections (standard and mobile)
  C. In theMY Favorite region
  D. through OBIEE Mobile
  B. In the Analysis, Dashboards, Agents, KPIs, and scorecard objectives sections (standard and mobile)

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  Reference: OBIEE 11gR1 : Action Framework and Conditions

• Question 77:

  When an external system sends an invoice to Fusion Accounts Payable, the life cycle of the transaction is invoice Created, Invoice Adjusted, Invoice Deleted or Invoice Canceled. This cycle can be modeled using .

  A. Event Categories
  B. Event model
  C. Event entities
  D. Event Types
  E. Journal Rules
  D. Event Types

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  Event classes group similar event types and enable the sharing of accounting definitions. An event type represents a business operation that you can perform for an event class.

  An accounting event has both an event class and an event types that affect how the Create Accounting program determines the subledger accounting for it. Event types provide the lowest level of details for storing accounting definitions. For

  example, the Payables event class Invoices is subject to three types of business operations that are represented by the following event types:

  Invoice Adjusted, Invoice Cancelled, Invoice Validated.

  Reference: Oracle Payables User's Guide, Payables Accounting Events

• Question 78:

  Identify two INVALID features of POV in Financial Reporting Studio.

  A. Multiple grids cannot be Included in a report.
  B. To identify that a dimension is set for grid POV, text row foot note should be added for a gridPOV for a dimension.
  C. A memberselection function with CurrentPOV as the member parameter changes to a User POV when members are selected from a row, column or page axis on a grid.
  D. POV book is specific to any report or grid object in report in that book.
  E. All POVs allow a single member to be set for a dimension.
  B. To identify that a dimension is set for grid POV, text row foot note should be added for a gridPOV for a dimension.
  D. POV book is specific to any report or grid object in report in that book.

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  D: A book POV allows anyone running the book to use the same default values for all grids in all reports in the book simultaneously each time the book is run. It is specific to a database connection for a book, but not specific to any report or grid object in a report in that book. As the book POV values are saved with the book itself, changes to the book POV do not affect the book designer's user POV.

  Reference:H Y P E R I O NF I N A N C I A L R E P O R T I N G S T U D I O, User's Guide, Frequently Asked

• Question 79:

  During the analysis phase of the implementation, it was discovered that there were some expense entries that are paid in the current month for services rendered in the next month, the client wants to defer the expense and recognize it in the next month. What would you recommend?

  A. Create two accounting events: one for payment and one for recognition.
  B. Use Account Derivation rules to create two different entries.
  C. Use multiperiod accounting-enabled Journal Line Types.
  D. Use Journal Line Definitions.
  C. Use multiperiod accounting-enabled Journal Line Types.

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  multiperiod accounting

  (Oracle Subledger Accounting) Recognition of revenue or a prepaid expense or revenue across multiple GL periods. Deferred revenue and expense recognition are examples of multiperiod accounting.

  Multiperiod accounting is a flexible, powerful tool which allows users to systematically record accounting entries across multiple periods

  Note:

  * account derivation rule

  (Oracle Subledger Accounting) A component of the Accounting Methods Builder (AMB) that determines the Accounting Flexfield for the subledger journal entries.

• Question 80:

  Which report indicates if the accounting entries have been transferred to the Oracle Ledger when submitting the Create Accounting process?

  A. Create Accounting Report
  B. Trial Balance -Detail
  C. Journals - (132 Char)
  D. Create Accounting execution Report
  D. Create Accounting execution Report

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  When you submit the Create Accounting process, the Create Accounting Execution Report is submitted automatically upon the completion of the Create Accounting process in success or in warning status. The Create Accounting process output will contain a message with the Create Accounting Execution Report request identifier. Use this request identifier to access the execution report output.

  Reference:Oracle Fusion Accounting Hub Implementation Guide, Accessing the Create Accounting Execution Report: Explained