Finding time to prepare for the Oracle Financials Cloud: General Ledger 2016 Implementation Essentials exam is hard when work already fills your week. Fast2test packs 80 focused practice questions for the 1z0-333 exam into formats you can study in short bursts, so every spare half hour moves you closer to a pass.

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Oracle 1z0-333 Exam — Your Questions, Answered

Oracle Financials Cloud: General Ledger 2016 Implementation Essentials Sample Questions:

Question 1

What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?

A. Accounting attributes
B. Event Classes
C. Transaction Objects
D. Mapping Sets
E. Event Entities

Question 2

Which three objectives must be considered when designing the chart of accounts?

A. Try to use all 30 segments and 25 characters per segment because you cannot change It later.
B. Anticipate growth and maintenance needs as organizational changes occur.
C. Consider implementing a single, global chart of accounts
D. Effectively manage an organization's financial business.
E. Limit the number of segments to those you need today to reduce data entry.

Question 3

You create a prepayment for USD l00 and validate it to consume the budget and reduce available funds under the prepayment account. You then pay the prepayment of USD 100 create an invoice for USD 300, and validate the* invoice to consume the budget and reduce available funds for the expense-accounts used in the invoice. You then apply the prepayment fully on to the invoice and revalidate it.
What happens to the available funds when you apply a prepayment that requires budgetary control?

A. The prepayment application releases funds of 300 USD and the invoice consumes funds of 300 USD, with a net decrease to available funds of 100 USD.
B. The prepayment application was already released at the time of payment and the invoice consumes funds of 300 USD.
C. Available funds will not change till invoice is approved.
D. The budget will be released only foi the USD 30O invoice amount.
E. The prepayment application releases funds of lOO USD and the invoice consumes funds of 300 USD, with a net decrease to available funds of 200 US
F. The prepayment application releases funds of 200 USD ^nd the invoice consumes funds of lOO USD, with a net decrease to available funds of 200 USD.

Question 4

Which statement is true when creating an Implementation Project for Financials Cloud?

A. Selecting the Offering "Financials," automatically allows you to perform the setup for all Financials Cloud products.
B. Plan your implementation project carefully because you cannot delete it or make changes later.
C. You must select the Offering "Financials," and each individual product or option to perform the setup for each product in Financials Cloud.
D. You only need to make the project name unique, then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management and Supply Cham Management.
E. The Implementation Project is preconfigured and cannot be deleted or changed.

Question 5

You transact in 50 different currencies and you need to define a high volume of revaluation definitions. Which two methods are Oracle recommended best practices for streamlining this process?

A. Use hierarchies and parent values in your revaluation definition.
B. Share revaluation definitions across ledgers that share the same chart of accounts.
C. Define separate revaluation definitions for each class of accounts, currency, and different rate types.
D. Define one revaluation definition for all accounts (assuming all ledgers share the same chart of accounts) and simply change the parameters at run time.

Solutions: