GL Skill Check Questions
To prepare your budget, you import budget data from a flat file. What should be the extension of the flat file? -.xls -.xslx -.txt -.csv
.csv
How many balancing segments are required for a CoA? -3 -2 -4 -1
1
What job roles are required to access information within Functional Setup Manager? (Choose two)
1) Application Implementation Consultant 2) Application Implementation Manager
In Oracle Cloud Applications, what does Accounting Sequence help in? (Choose two)
1) Assignment of sequential numbers for both the GL and SL journals 2) Assignment of sequential numbers when journals are posted
In Oracle General Ledger, a reporting currency can be linked to a primary or secondary ledger. At which of the following data conversion levels can it be maintained: (Choose three)
1) Balance level 2) Journal level 3) Subledger level
What are the types of dashboards available to users? (Choose two)
1) Business Intelligence Driven 2) Role Based
Which of the following are seeded General Accounting Infolets? (Choose three)
1) Close Calendar 2) Allocations 3) Journals
Shelly wants to create a custom security role for an expense auditor. What are the functions of the Security Console that could be helpful in role creation? (Choose four)
1) Copying a Role 2) Simulating Navigator 3) Editing a Role 4) Comparing a Role
Functional Setup Manger provides which of the following capabilities? (Choose three)
1) Functional areas with all task listed 2) Configurability of the Oracle Cloud Offerings 3) Export and Import capabilities
Where can view Account Groups? (Choose Three) -Financial Reporting Center -Cash Management Infolets -You need to run a scheduled process -General Accounting Infolets -Custom Infolets -Account Monitor
1) General Accounting Infolets 2) The Financial Reporting Center 3) Account Monitor
Which of the following are Financials functional areas? (Choose three)
1) General Ledger 2) Payables 3) Revenue Management
Your User Interface page is divided into various sections that include: (Choose three)
1) Global Area 2) Panel 3) Section
Journal approval is enabled in which of these places? (Choose two)
1) Ledger Options 2) Journal Source
What are not General Accounting Infolets? (Choose two)
1) Margins 2) Period Close
Select the correct statements about the CoA Instance. (Choose two)
1) Multiple CoA instances can be created from the same structure 2) In the CoA Instance, you have the ability to override the value set assignment fro segments
Which of the following are reports that can be accessed in Functional Setup Manager? (Choose two)
1) Offering Content Guides 2) Related Business Objects
What is the precedence of intercompany balancing rules?
1) Primary Balancing Segments,LegalEntity,Ledger,COA
In Oracle Cloud, what can you use to import budgets? (Choose three)
1) Spreadsheet 2) Flat File 3) Smart View
Which of the following does the Assets landing page provide access to? (Choose two)
1) Task 2) Infotiles
The Panel may contain which of the following tabs? (Choose three)
1) Task 2) Search 3) Report
What happens when you try and close a general ledger period? (Choose two)
1) The period is closed IF there are NO exceptions 2) The SL Close Exceptions report is executed automatically
Which reports can be used for reconciling GL with SubLedgers? (Choose two) -Posting report -Account Analysis Report -Account report -Trial Balance Report
1) Trail Balance Report 2) Accounting Analysis Report
Which methods can used to create expenses on a mobile device? (Choose three)
1) Voice recordings 2) Calendar Entries 3) Receipt images
When is a new balance cube created? (Choose two)
1) When an accounting configuration is submitted for a Primary or Secondary Ledger that uses a unique combination of CoA and Calendar 2) When a new Secondary Ledger is added to an existing configuration and uses a unique combination of CoA and Calendar
The Vision CoA is used by three ledgers. One of the ledgers has a different calendar. How many balances cubes are created?
2
What is the recommended number of hierarchy versions you should create if you are manually creating hierarchies?
2
How many segments can the intercompany balancing feature balance?
3
How many types of Ledgers are available to configure?
3
You decided to use a Secondary Ledger to maintain another accounting representation of your Primary Ledger. The two ledgers share the same Calendar and Accounting Method. What do you need to set up in addition to the Secondary Ledger?
A CoA Mapping
In General Ledger, an Accounting Method is assigned to: -A journal batch -A ledger -A journal header -A subledger
A Ledger
What would you use to enable the sharing of setup data, for example, Depreciation Methods across Asset Books?
A Reference Data Set
If many legal entities share a ledger, you should identify them by assigning which of the following? -a balancing segment value -a cost center segment -a natural account segment value -an intercompany segment value -none of the above as you can only have one legal entity in a ledger
A balancing segment value
Select the key features of Oracle Financials Cloud. (Choose two) -import of third-party payroll processed data and payslips -role based dashboards -a multidimensional reporting platform -position synchronization
A multidimensional reporting platform Role-based dashboards
Which of the following are balance cube dimensions? -Ledger or Ledger Set -Currency -Customer -Business Unit -Scenario -Supplier
Accounting Period Ledger or Ledger Set CoA Segments Scenario Balance Amount Amount Type Currency Currency Type
Your Primary Ledger uses US GAAP and you want to maintain a Secondary Ledger for your IFRS accounting requirements. Which conversion level would you recommend for the Secondary Ledger?
Adjustments only
How are General Ledger Balance Cubes named? -They take the name of the COA for which they are created -The name is manually defined -The name is a combination of Ledger and Calendar -They take the name of the ledger for which they are created
After the CoA in which the draw their data from.
Which COA component can be created using Rapid Implementation Spreadsheets? -Chart of Accounts Structure -Chart of Accounts Instance -Cross Validation Rules -Create Account Combinations -Segment Values -All of the above
All of the above
What is the use of Dynamic Combination Creation Allowed feature? -Allows users to create cross-validation rules -Allows users with read and write access to the values -Allows users to maintain security rules -Allows users to create new account combinations
Allows users to create new account combinations as they enter data.
In Oracle Financials Cloud, which dimension has a default member value that can be used for a report or an analysis? -Ledger -Balance Amount -Currency -Accounting Period
Balance Amount
Which of the following are true about manual intercompany transactions in Oracle Financials Cloud? (Choose two) -Can optionally be transferred to Payables and Receivables to create invoices -Can optionally be transferred directly to General Ledger and posted -Can only be imported either through spreadsheet or interface -Always transferred and posted directly to the General Ledger
Can optionally be transferred to Payables and Receivables to create invoices Can optionally be transferred directly to General Ledger and posted
In General Ledger, mapping from Primary Ledger to Secondary Ledger must be performed when one of the entities is different between the two ledgers. Identify the entity. -Chart of Accounts -Operating Units -Ledgers -Accounting Method
CoA (also Calendar)
What status must a journal have in order to be posted?
Complete
Which of the following are true statements about Cross Validation Rules? (Choose two) -Cross Validation rules validate whether a value for a particular segment can be combined with specific values of other segments -Cross Validation rules can be applied to existing code combinations -Condition and Validation filters are used to narrow down the search that the application has to do before performing validation -Cross validation rules are used to restrict access to the values in a particular segment
Condition and Validation filters are used to narrow down the search that an application has to do before performing a validation Cross Validation Rules validates whether a value for a particular segment can be combined with specific values of other segments.
Setup data can be exported from one instance and imported into another. What is the name of the object that is used for importing the data?
Configuration package
Which task can be completed by using the Security Console? (Choose Three) -Personalize the home page for a user -Lock or unlock user accounts -Define password policies -Create custom roles. -Configure Offerings
Create Custom Roles Define Password Policies Lock or unlock user accounts
The Financial Controller has asked if it is possible to give read-only access to the ledger. What is your response?
Create a full ledger access data set with the read-only option selected
What can you use to prevent entry of invalid code combinations? -Chart of Accounts Security -Code Combination Security -Segment Value Security -Code Validation Rules -Cross Validation Rules
Cross Validation Rules
In the user preferences which of the following are the options related to setting up the language? (Choose three) -Current session language -Language by role -Default language -Language format -Display name format
Current session language Display name language Default language
Which category should you assign to a role you are creating to use with segment value security? Common-Abstract Role Default Common-Job Role Common-Duty Role Common-SVS Role
Default
John and Mike should be given access to enter and view only the transactions for Cost Center 10. What is the best approach for securing data? -Use a data access set -Use role mapping -Use cross validation rules -Define a segment value security rule
Define a segment value security rule.
XYZ is implementing General Ledger and is looking to add some dimensions to the balances cube. Which statement is true?
Dimensions are seeded and new ones cannot be added
In Oracle Financials Cloud, which two statements are true about Duty Roles? (Choose two) -You cannot create custom Duty Roles -Duty Roles are not assigned directly to users -Duty Roles represent logical groups of tasks that are performed in a job -Duty Roles cannot inherit aggregate privileges
Duty Roles are not assigned directly to users Duty Roles represent logical groups of task that are performed in a job
Which of the following are predefined reference data sets?
Enterprise and Common
You should enable a Cost Center segment if you plan to use the following modules? (Choose two) -Assets -Receivables -Collections -Payables -Cash Management -Expenses
Expenses Assets
Which table should you use to load daily rates for currencies? GL_DAILY_RATES_INTERFACE GL_INTERFACE GL_RATES_INTERFACE GL_DAILY_RATES GL_CURRENCY_RATES_INTERFACE
GL_DAILY_RATES_INTERFACE
In Oracle Financials Cloud, which user roles get automatic access to Financial Reporting Center? (Choose four) -General Accountant -Accounts Receivable -Cash Manager -General Accounting Manager -Accounts Payable -Budget Manager
General Accountant General Accounting Manager Budget Manager Cash Manager
Select the correct statements about Geographies in Oracle Cloud. (Choose two)
Geographies can be validated Geography data can be imported by using file based data import
Which part of the user interface would you find the Favorites and Recent items icon?
Global Area
Which component is the foundation for a Financial Reporting Studio report? -Text box -Column -Row -Grid -Chart
Grid
What validation type is recommended for the value sets used by accounting flex field segments?
Independent
You would like to enforce an enterprise-wide currency for you intercompany transactions. Where would you set this up?
Intercompany Systems Options.
How are transactions that cross legal entities accounted for? -Standard Journal Entries -Internal Transactions -Subledger Transactions -Intercompany Transactions
Intercompany Transactions
What of the following statements are true about Freeze Journals feature while setting up a journal source? (Choose two) -It prevents making changes to journals after they have been posted -It prevents making changes to journals before they are posted -It allows creation of journals with STAT currency -It prevents users from making changes to any journals that have been transferred to general ledger from that source
It prevents users from making changes to any journal that has been transferred to General Ledger from that source It prevents making changes to the journals before they are posted
Which processes use Ledger Options? (Choose four) Month-end Reporting Revaluation Year-end Closing Create Accounting Translation Journal Posting Allocations
Journal Posting Year-End Closing Translation Revaluation
Which of the following statements is true about accounting periods in Oracle General Ledger? -Journals can be posted but not entered in closed periods -You cannot open a permanently closed period -Journals can be posted for any period regardless of the period status -Journals can be entered but not posted in closed periods -Journals can be entered but not posted in Future Enterable periods
Journals can be entered entered but not posted in Future Enterable Periods.
At what level can you enable sequencing? (Choose two) -Ledger -Legal Entity -Balancing Segment Value -Enterprise -Business Unit
Ledger Legal Entity
If second and third balancing segments are enabled for intercompany balancing, then balancing is done using:
Ledger Balancing Options
SmartView is an add-in from____________. -Microsoft Office -Open Source Software -Oracle Access Manager -Oracle Open Office
Microsoft Office
ABC Company is planning to enable expense report submissions through mobile devices. What are the traditional setup activities that need to be performed?
No setup is required
When can an allocation rule or rule set be generated? -after it is successfully validated -after it is successfully deployed -after it is saved -after it is copied to the General Ledger
Once they are SUCCESSFULLY DEPLOYED
Company XYZ has 3 legal entities with 3 business units who share the same CoA. All 3 business units share the same expense types. How many Expense Templates will you create?
One Template per Business Unit
Which application is used to configure journal approval rules?
Oracle Business Process Management (BPM) Worklist Application
You want to import/load your highly complex budgeting data into the GL Balances Cube. Which option would you use? Hyperion
Oracle Hyperion Planning, Fusion edition
What are the different financial consolidation options available in Oracle Financials Cloud? (Choose three) -Reporting currency consolidation when the ledgers share the SAME calendar and CoA -Balance transfer consolidation when either the calendar or chart of accounts is different -Oracle Hyperion Financial Management Fusion Edition
Reporting currency consolidation when the ledgers share the SAME calendar and CoA Balance transfer consolidation when either the calendar or chart of accounts is different Oracle Hyperion Financial Management Fusion Edition
A grid is the foundation of a Financial Reporting Studio report. The components of a grid are: (Choose four) -Point of View Dimension -Columns -Pages -Reference Data Set -Business Unit -Rows
Rows Columns Pages POV Dimension
Which statements are true about importing budget data from a spreadsheet when using Oracle Application Development Framework (ADF) Desktop Integrator. (Choose four) -secures values by a data access sets -contains user-friendly lists of values -supports multiple ledgers and multiple COA instances -supports entered currencies in addition to ledger currency -allows single calendars and periods -performs most validations on the worksheet
Secures Values by data access sets Contains user-friendly list of values Supports entered currencies in addition to the ledger currency Performs most validations in the worksheet
What does the COA structure set? -Number of segments, segment sequence, default value sets, dynamic combination creation -Segment sequence, default value sets, dynamic combination creation allowed, and segment prompts -Segment name, segment sequence, default value sets, and number of segments -none of the above
Segment name, segment sequence, default value sets, and number of segments
The ADF Desktop Integrator spreadsheet contains a Record Status column that shows the status of rows after the import operation. In this regard, select the correct option. -shows the status if the rows have uploaded successfully or with errors -shows the status of only those rows that have uploaded with errors -shows the status of only those rows that have uploaded successfully -shows the status of those rows that could not be uploaded
Shows the status if the rows have uploaded successfully or with errors
When loading budget data, as a best practice, which tool is NOT recommended to be used?
Smart View
Which are List Builders in approvals? (Choose three) -Resource -Employee -Supervisory -Approval Group
Supervisory Resource Approval Group
John is developing a report in the Financial Reporting Studio and wants to ensure that a user does not have the ability to select the desired values for Ledger and Amount Type while executing the report. The user should be able to select the desired values for all other members. Select the best approach.
The Ledger and Amount Type should be placed in the Grid POV
What is the "Cost Pool" for an allocation known as? -the Offset -the Basis -the Scenario -the Target -the Source
The Source
What can you access using the page control dots on the welcome springboard? -The Welcome Springboard and infolets -The Navigator -The Welcome screen -Links to tasks and programs
The Welcome Springboard and infolets
A CoA instance is created when you create your CoA Structure, what attributes of the CoA instance can be changed?
The default value set assignment for a segment.
An approval rule set with "Parallel" mode and routing as "Single", and the approval group consists of five members. Select the correct flow of the approval process.
The notification is sent to all the participants in the approval group at the same time, but requires approval from only the first responder
You would like to prevent the entry of manual General Ledger Journals and manual Subledger Journals to a control account. What do you need to select when setting up the value? -Customer -Third Party -Restrict Manual GL Journals -Supplier
Third Party
When would you use the Translation process? -to convert a foreign currency journal to a functional currency during journal entry -to identify foreign currency gain's or losses at the end of the month -to convert a ledger balance into another currency for reporting and consolidation purposes
To convert a ledger balance into another currency for reporting and consolidation purposes.
What is revaluation used for? -to convert ledger balances to a reporting currency -to manage unrealized foreign currency gains/losses -to manage realized foreign currency gains/losses -to convert ledger balances to a statistical currency
To manage unrealized foreign currency gains/losses
Which of the following currency processes would you use to restate your ledger from the ledger currency to a reporting currency? -Conversion -Translation -Revaluation -Allocation
Translation
How many corporate books can be associated with a Primary Ledger?
Unlimited
How many secondary ledger and reporting currencies are supported by Oracle Cloud Applications?
Unlimited
How many balancing segments are supported in General Ledger? -1 -2 -3 -4 -5
Up to 3
How many segments can you haveinyourChartofAccounts?
Up to 30
When is a new balances cube created? (Choose two) -When accounting configuration is submitted for a Primary or Secondary ledger that uses a unique combination of CoA and Calendar -When a primary or secondary ledger that uses a unique combination of Chart of Accounts and Calendar is saved -When a new Secondary ledger is added to an existing configuration that uses a unique combination of CoA and Calendar -When roles are assigned to users who will access the ledgers
When accounting configuration is submitted for a Primary or Secondary ledger that uses a unique combination of CoA and Calendar When a new Secondary ledger is added to an existing configuration that uses a unique combination of CoA and Calendar
When do you assign a balancing segment value to a legal entity? -When several legal entities share a ledger -When you have more than one balancing segment value -When there is only one legal entity in a ledger -When you have more than one business unit
When several legal entities share a ledger.
When does the number get assigned to a journal if you are using Document Sequencing?
When the journal is SAVED
You currently have one future entry period in your calendar and would like to change this to three. How can this be achieved? -You can change the number of future entry periods on the Ledger Options Page -You can change the number of future entry periods using the General Accounting dashboard -You can change the number of future entry periods by using the Close Monitor -You can change the number of future entry periods in the calendar
You can change the number of future entry periods on the Ledger Options Page
Which statements are true about the Security Console? (Choose two) -Navigation Simulator is used to create roles -You cannot create users in the Security Console -You can use the Security Console to implement, customize, and manage security -The IT Security Manager role grants access to the Security Console
You can use the Security Console to implement, customize, and manage security The IT Security Manager role grants access to the Security Console
What is the impact of enabling security for a value set? -You have to create a data access set to restrict access to the values -You have to create cross-validation rules to restrict access to the values -You deny access to all value set values by default -Once enabled, users can still access the values until you define security rules
You deny access to all value set values by default
In Oracle Financials Cloud, the search panel is used to search within _______________. -the internet -the entire cloud application -the offering related to that page -the work area currently being used
the work area currently being used
