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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting.
What does Oracle consider the best practice approach to performing consolidations?

A) Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar,currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then create a ledger set across all ledgers and report on the ledger set.
B) Use Oracle Hyperion Financial Management for this type of complex consolidation.
C) Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to theparent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
D) Use General Ledger's Financial Reporting functionality to produce consolidated reports bybalancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment.

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. What Is Oracle Essbase?

A) A robust reporting and analysis tool
B) A data ware house
C) A multidimensional Online Analytical Processing (OLAP) server that is embedded in Fusion GeneralLedger
D) A relational database

4. What's the difference between subject areas that append the word "Real Time" and those that do not?

A) The "Real Time" subject areas are based on real-time transactions and all others are based on Historical data.
B) The "Real Time" subject areas are based on real-time transactions in Fusion Applications, and all others are based on data stored in the Oracle Business Intelligence Applications data warehouse.
C) There is no difference.
D) The "Real time" subject areas are based on sub ledger transactions and all others are based on general ledger balances.

5. You want to enter budget data in Fusion General Ledger. Which method is not supported?

A) File-based Data Import
B) Entering budget Journals
C) Application Development Framework Desktop Integration (ADFdi)
D) Smart View

Solutions: