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

1. On which three occasions are Essbase balances updated? (Choose three.)

A) every time the tree version is published
B) every time you open a new period
C) every time you run the batch program called "Update Essbase Balances"
D) every time journals are posted to the general ledger

2. Your customer wants to prevent their department managers from viewing the results of other departments where they have no management authority. What should be implemented for this type of security?

A) Segment Value Security
B) Role-Based Access
C) Data Access Sets
D) Cross-Validation Rules

3. Before Implementing Financials Cloud, your customer used to manually reconcile their intercompany payables and receivables accounts, What's is a more automated approach to do this?

A) Run the BI publisher reports called intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances
B) In Financials Cloud, you must manually reconcile your intercompany account balances
C) Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances
D) Run the intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance.

4. Which three reporting tools are based on real-time data or balances?

A) Oracle Transactional Business Intelligence (OTBI)
B) Business Intelligence Publisher (BI Publisher)
C) Oracle Business Intelligence Applications (??IA)
D) Smart view
E) Oracle Financial Reporting (FR)

5. Your customer wants to use a clearing company to automatically balance intercompany entries. Which three statements are true regarding the use of a clearing company value? (Choose three.)

A) Clearing companies are not supported
B) You must map legal entities to balancing segment values in order to use a clearing company
C) If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger
D) If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal
E) If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity

Solutions: