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Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

1. You are required to change today's daily rates for converting GBP to USD. What are three ways in which you can update existing daily rates

A) Update rates manually using the Currency Rates Manager, which can be accessed only from the Functional Setup Manager
B) Import daily rates through the Daily Rates open interface table
C) Edit existing transactions and update the rates manually
D) Update rates manually using the Currency Rates Manager, which can be accessed from the Functional Setup Manager or the General Ledger's Period Close work area
E) Use the spreadsheet loader from the Currency Rates Manager

2. You want to define an allocation rule where segment values are constants (or rules and formulas. What should you do?

A) Always use the Outer Point of View (POV)
B) Specify Run Time Prompts (RTP)
C) Never use the Outer Point of View (POV)
D) Only specify segment values in formulas.

3. You want to prevent intercompany transactions from being entered during the last day of the close.
What should you do?

A) Close Intercompany periods in Fusion Intercompany
B) Freeze the Intercompany journal source in General Ledger
C) Close all subledger periods
D) Close the General Ledger period in the Manager Accounting Periods page

4. Your customer wants to have balance sheets and income statements for its cost center and program segments. That is, the customer wants to have three balancing segments.
Which two recommendations would you give your customer? (Choose two.)

A) Additional intercompany rules will need to be defined for the two additional balancing segments
B) Define Ledger balancing options to balance by second and third balancing segments
C) When entering journals manually, the customer will need to make sure that debits and credits are equal across all balancing segments because the system will not automatically balance the journal
D) Every journal where debits do not equal credits across the three balancing segments will result in the system generating extra journal lines to balance the entry

5. Your customer operates three shared services that perform accounting functions across 50 countries What feature allows them to share setup data, such as Payment Terms, across Business Units?

A) Data Access Sets
B) Reference Data Sets
C) Business Units functions
D) None

Solutions: