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| Section | Weight | Objectives |
|---|---|---|
| General Ledger Overview and Setup | 30% | - Journal Processing
|
| Payables Overview and Setup | 35% | - Payments Processing
|
| Integration and Shared Concepts | 35% | - Shared Functionality
|
1. Which report would provide information about the processing type (parallel or sequential) that may be defined for reports?
A) FSG Row Set Summary Listing
B) FSG Content Set Summary Listing
C) FSG Report Summary Listing
D) FSG Report Detail Listing
2. E-Business Tax calculates the amount of tax that is recoverable on the basis of the tax setup. To implement accrual-based accounting recoverable tax, four setups are needed. (Choose four.)
A) Enable the default recovery settlement options at the regime, tax, tax status, or tax rate levels.
B) Enable "Set as offset tax."
C) Set the default recovery settlement option to "Deferred."
D) Enable "Allow tax recovery."
E) Define tax accounts, tax expense, recoverable tax, and interim tax.
3. Select three statements that apply to the Global Consolidation System (GCS). (Choose three.)
A) It performs multidimensional analysis of consolidated financial data by using Oracle Enterprise Planning and Budgeting.
B) This system creates consolidated journal entries in both the parent and subsidiary sets of books.
C) GCS automatically generates journal entries to eliminate intercompany balances based on defined rules.
D) It consolidates data from the legacy feeder system.
4. Identify three statements that are true about bank and supplier payment. (Choose three.)
A) Supplier's payment requires a bank account with at least one payment document.
B) Credit and debit memos are examples of payment documents.
C) Primary bank account can be only at the supplier site.
D) If bank accounts for a supplier site are entered, Payables defaults the supplier's active bank accounts.
E) Use the Banking Details page to create bank accounts for making payments to suppliers.
5. Your client is in the process of closing its first year-end. The client completed the accounting cycle and found that several income statement accounts have a remaining balance. What would be the likely cause of these remaining balances?
A) Natural accounts were defined to not allow posting.
B) Natural accounts were defined as parent values.
C) Natural accounts were defined to store both statistical and monetary values.
D) Natural accounts were defined with an incorrect account type.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: A,C,D,E | Question # 3 Answer: A,C,D | Question # 4 Answer: A,D,E | Question # 5 Answer: D |
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