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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q48-Q53):

NEW QUESTION # 48
What are thetwo possible reasonsforencumbrance created on the purchase orderto go back to thebudget or funds availability?

A. The purchase order is canceled or finally closed or rejected without performing any receipt or invoice.
B. The requisition reserved successfully undergoes amendment and is rejected in the reapproval.
C. When the requisition is set to accrue at period end and partially billed and then canceled or finally closed, encumbrance goes back to the budget to the extent of the unbilled amount.
D. When the purchase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the budget to the extent of the unreceived amount.

Answer: A,D

NEW QUESTION # 49
You have enabled budgetary control and have a control budget set toAdvisorycontrol level. For September
2016, your budget for a given account combination is$5,000 USD.
In the same month, there is anapproved requisitionfor that account of$900and anapproved purchase order for that account of$2,500 USD. There is also aGeneral Ledger adjustment journal entryfor that account of
$1,600 USD. Anapproved purchase order line of $400 USDis thencanceled.
Aninvoice is matchedto the purchase order for$2,100 USD.
Which two statements are true? (Choose two.)

A. Funds reservation only happens for non-matched invoices, so the system will not reserve funds.
B. The system always consumes the budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation.
C. Purchase order encumbrance will be released for $2,100 USD.
D. As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016.

Answer: C,D

NEW QUESTION # 50
Which three factors should you consider while specifying Intercompany System options?

A. Automatic or manual batch numbering and the maximum transaction amount
B. Whether to allow receivers to reject intercompany transactions
C. Whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies
D. Automatic or manual batch numbering and the minimum transaction amount
E. Approvers who will approve intercompany transactions

Answer: B,C,D

Explanation:
Intercompany System options are used to set up intercompany processing rules at the enterprise level, based on your specific business needs. They help you standardize and simplify transaction processing, minimize disputes, and reduce administrative costs. The three factors that you should consider while specifying Intercompany System options are:
* Automatic or manual batch numbering and the minimum transaction amount: These options help you control the numbering and the size of intercompany transactions. You can choose to use system generated or manual batch numbering, and you can specify a minimum threshold amount for intercompany transactions to prevent immaterial transactions. To use the minimum transaction amount option, you must also select an Intercompany currency option.
* Whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies:
This option helps you manage the currency risk and the conversion rate fluctuations for intercompany transactions. You can choose to standardize transaction processing by selecting an Intercompany currency, which means that all intercompany transactions created in the Intercompany module are entered in this currency. Alternatively, you can choose to allow intercompany transactions in local currencies, which means that intercompany transactions can be entered in the ledger currency of the sender or the receiver.
* Whether to allow receivers to reject intercompany transactions: This option helps you handle the approval and dispute resolution process for intercompany transactions. You can choose to allow receivers to reject intercompany transactions if they disagree with the sender's information, such as the amount,the account, or the date. If you enable this option, you must also specify the rejection reason and the notification details for the sender.
References:
* Intercompany System Options
* Implementing Enterprise Structures and General Ledger
* Implement General Ledger

NEW QUESTION # 51
A company implementing Oracle General Ledger has a business requirement to report under two accounting conventions and is considering setting up a primary and secondary ledger. The two accounting standards are very close.
Which data conversion level should you recommend to ensure only manual journals will be entered in the secondary ledger?

A. Adjustment only level
B. Subledger level
C. FBDI level
D. Balance level
E. Journal level

Answer: A

Explanation:
The adjustment only level is the data conversion level that ensures only manual journals will be entered in the secondary ledger. This level means that no data is copied from the primary ledger to the secondary ledger automatically. Instead, the user can enter manual adjustments in the secondary ledger to reflect the differences between the two accounting standards. This level issuitable for scenarios where the accounting methods or charts of accounts are very close between the primary and secondary ledgers, and there is no need to maintain detailed journals or subledger transactions in the secondary ledger. References: Primary Ledgers, Secondary Ledgers, and Reporting Currencies, High Volume Data Migration Considerations for General Ledger, Reporting Currencies - Conversion Level Balance

NEW QUESTION # 52
You are setting up Close Monitor and want to view high-level profit and loss results for each ledger.
What should you associate with the ledger set to achieve this?

A. Account group
B. Financial Reporting Web Studio report
C. OTBI report
D. Trial Balance report

Answer: B

Explanation:
To view high-level profit and loss results for each ledger in the Close Monitor, you need to associate a Financial Reporting Web Studio report with the ledger set. This report should be based on the General Ledger Balances cube and should include the Income Statement accountgroup as a row dimension. The report should also have the ledger set as a point of view dimension and the period and currency as user prompts. This way, you can select the ledger set, period, and currency when you run the report from the Close Monitor and see the aggregated income statement results for each ledger and consolidation node in the ledger set hierarchy. References: Overview of Close Monitor, Using General Ledger, Close Monitor Issue

NEW QUESTION # 53
......

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