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Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

1. The company has four legal entities operating in US CA, US-NY, Canada and the UK. The chart of accounts and the accounting calendar are the same for US CA, US-NY and Canada but NOT for the UK.
How many ledgers are needed?

A) Four
B) One
C) Two
D) three

2. Which statement about intercompany balancing is INCORRECT?

A) Segment values can be assigned only once within your chart of account.
B) Segment values can be assigned more than once within your chart of account.
C) Intercompany balancingisused to track intercompany duo to/due from balances by identifying the specific trading company.
D) The intercompany qualified segment can NOT be set with any of the three balancing segment qualifiers.
E) Intercompany balancing is used to balance transactions by an additional dimension beyond the primary segment.

3. To update the intercompany calendar to use a different general ledger accounting calendar, the intercompany period status for all intercompany transaction types must be____________.

A) Either Open or Closed
B) Open
C) Closed
D) Never Opened or Closed

4. The life cycle of a transaction's accounting impact is modeled by using__________.

A) Process Categories
B) Journal Categories
C) Event Entities
D) Journal Sources
E) Event Classes and Types

5. Select the option that helps in sharing Account Rules across applications.

A) Transaction Objects
B) Reference Objects
C) Same Value Set validation
D) Same Chart of Accounts

Solutions: