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Oracle EBS R12: General Ledger and Receivables Fundamentals

Question No: 161 – (Topic 1)

Select the setup task that you are required to perform in Receivables to manage tax calculations on invoices.

  1. defining tax rules

  2. defining AutoInvoice

  3. defining AutoAccounting

  4. defining tax registrations

  5. defining Account Generator

Answer: C

Question No: 162 – (Topic 1)

BC Corporation wants to use one ledger for its many subsidiary companies that will share the global chart of accounts structure and the corporate accounting calendar. The controller is concerned about users charging the wrong company when entering a journal entry.

Which setup would address the controller#39;s concern?

  1. Cross-validation rules ensure that the proper code combinations are used.

  2. Segment security rules prevent users from seeing companies that they are not supposed to see.

  3. Journal approval ensures that journal entries are correct and approved before they can be posted.

  4. Suspense posting ensures that when there are unbalanced entries, the system would make it balanced.

  5. Intercompany accounting ensures that if a wrong company is used, at least intercompany accounting entries would be created.

Answer: B

Question No: 163 – (Topic 1)

Your client has operations in two countries: Company 01 is located in Chicago and Company 02 is located in London. Both companies share the same calendar but have a different chart of accounts. Your client requires a summary of transactions from both companies. Which three actions must be considered when defining the consolidation process for your client? (Choose three.)

  1. defining an elimination set to include a group of related elimination entries

  2. defining mapping rules to map Company 01 and Company 02 to Company 90

  3. selecting the transaction method for transferring data from Company 01 to Company 90

  4. defining a consolidation process using the Global Consolidation System by defining Company 90 as a parent to consolidate data from Company 01 and Company 02

Answer: A,B,D

Question No: 164 – (Topic 1)

Your functional end users are perplexed by the contents of the AutoInvoice Execution report. They needed expert guidance and came to you. You look at the report and see that the Interface Lines section of the report shows the following:

Selected: 9

Successfully Processed: 8

Failed Validation: 0

What is the likely reason for this?

  1. An adjustment update of an old invoice is included in this batch.

  2. The General Ledger (GL) code combination ID failed the cross validation rules.

  3. A debit memo for an invoice and the invoice itself are submitted in the same batch and the debit memo is selected first.

  4. A credit memo for an invoice and the invoice itself are submitted in the same batch and the credit memo is selected first.

  5. The GL code combination segment value for the cost center was valid in the prior calendar month but is end-dated a day earlier.

    Answer: D

    Question No: 165 – (Topic 1)

    Jack is implementing Oracle General Ledger for ABC Corporation. The management wants the definition of data access set with full ledger access set type for its four ledgers/ledger sets as shown here:

    Balancing Segment Value Data Access Set Type

    Ledger/Ledger Set

    Balancing Segment Value

    Privileges

    ABC Services

    All

    Read and Write

    ABC Operations

    01

    Read-Only

    ABC Operations

    20 (Parent of child values 21-29)

    Read and Write

    ABC Global Industries Ledger Set

    All

    Read and

    Write Select two correct statements in this scenario. (Choose two.)

    1. Users can only view the existing data in ABC Operations for the balancing segment value 01.

    2. Users have read-only access to the data in some balancing segment values in the ledger set, ABC Global Industries.

    3. Users have read and write access to the data in some balancing segment values in the ledger set, ABC Global Industries.

    4. Responsibilities using this data access set will have read and write access to the data in ABC Services and all its balancing segment values.

Answer: A,D

Question No: 166 – (Topic 1)

Identify two correct statements about Oracle Receivables. (Choose two.)

  1. AutoAccounting is only used for the imported transactions.

  2. Errors in the AutoInvoice are sent to the Interface Exceptions table.

  3. Receivables transactions cannot be changed after they are printed.

  4. Receipt accounting can be transferred after the receipts are entered and saved.

  5. Transfer to General Ledger can transfer transaction accounting entries after the transactions are entered and saved.

Answer: B,D

Question No: 167 – (Topic 1)

Symba Manufacturing International has a requirement to match Cost of Goods Sold (COGS) and Revenue. They have asked your help in implementation. In this context, which two dependencies and interactions are true? (Choose two.)

  1. Cost Management performs COGS recognition (or Cost Accounting).

  2. Cost Management integrates with Oracle Receivables for invoice creation.

  3. Cost Management integrates with Oracle Receivables for revenue information.

  4. Cost Management provides order and return information to Oracle Receivables.

  5. Cost Management notifies Oracle Receivables when an order is closed without billing.

Answer: A,C

Question No: 168 – (Topic 1)

For transaction-related activities such as adjustments and discounts, Receivables derives the balancing segment value from the account that is associated with the transaction.

  1. revenue

  2. receivables

  3. unapplied cash

  4. unearned revenue

  5. unbilled receivables

  6. earned and unearned discounts

Answer: B

Question No: 169 – (Topic 1)

Select two steps that are NOT elements of creating a Financial Statement Generator (FSG) report in Oracle General Ledger (Choose two.)

  1. Attach the fiscal calendar.

  2. Define rows and columns.

  3. Build a report by using rows and columns.

  4. Specify the default ledger for ledger sets.

  5. Determine which rows and columns make up your report.

Answer: A,D

Question No: 170 – (Topic 1)

You are implementing Oracle General Ledger (GL) at a client site. The client is based in

the US, but they have a presence in many countries and transactions in multiple currencies.

The implementation team decides that the GL multi-currency setup will be a part of the implementation.

John, a junior consultant helping you in the implementation effort, tells you that he is testing the system and entering journals in USD, Yen, and Euros.

He says that he is able to enter journals in USD and Euros, but not in Japanese Yen. What possible explanation can you provide to John for this?

  1. Yen has not been enabled.

  2. Rate types have not been defined for Yen.

  3. Daily rates have not been entered for Yen.

  4. Workflow must be customized for journals to be entered in Yen.

Answer: A

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