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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. You defined a tree or hierarchy, but you are unable to set its status to Active.
What is the reason?

A) Chart of accounts was not deployed.
B) Two tree versions were not defined
C) Accounting Configuration was not submitted-
D) An Audit process needs to be successfully performed before a tree version can be set to Active.

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

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

3. Your customer requires physical invoices to be generated in Fusion Payables and Fusion Receivables for the intercompany payables and receivables transactions.
What statement is correct with regard to setting this up?

A) You must assign the corresponding Receivables and Payables Business Units.
B) You can only associate one Intercompany Organization per Legal Entity.
C) You only need to assign the Legal Entity and Organization Contact.
D) You must perform additional setup steps for Fusion Payables and Fusion Receivables.

4. What is the most efficient way to add a new year to the accounting calendar?

A) The application automatically populates the next year when you open the first period a new fiscal year.
B) Import the periods from a spreadsheet
C) Add the periods manually
D) Use the Add Year button

5. When working with Essbase, versions of the tree hierarchy as defined in the Fusion not available in the Essbase balances cube.
What should you do to correct this situation?

A) Make sure the tree version was published successfully.
B) Redeploy the chart of accounts.
C) Make sure to flatten the rows of the tree version.
D) Make sure the tree is active.

Solutions: