Question 1

You are required to change today’s daily rates for converting GBP to USD. What are three ways in which you can update existing daily rates?

Options :

A : Update rates manually using the Currency Rates Manager, which can be accessed only from the Functional Setup Manager.

B : Edit existing transactions and update the rates manually.

C : Use the spreadsheet loader from the Currency Rates Manager.

D : Update rates manually using the Currency Rates Manager, which can be accessed from the Functional Setup Manager or the General Ledger’s Period Close work area.

E : Import daily rates through the Daily Rates open interface table.

Answer: C,D,E

Question 2

A subsidiary company, in a highly regulated country, where there is a legal requirement to produce fiscalreports under local GAAP, is about to configure their General Ledger.Given the following:Subledgers transferring to general ledger must use the local currency.There is a requirement to report to the parent company (not local currency) using International FinancialReporting Standards (IFRS).Which two ledger types should be configured to address this reporting requirement? (Choose two.)

Options :

A : a primary ledger with the local accounting convention

B : a reporting currency with the IFRS accounting convention

C : a primary ledger with the IFRS accounting convention

D : a secondary ledger with the IFRS accounting convention

E : a reporting currency with the local accounting convention

Answer: A,D

Question 3

Your company has a legal entity in the UK, US, and CanadA. They can all share the same chart of accountsbut are required to transact and report in their local currency.What is the minimum number of ledgers you need and why?

Options :

A : One, because they can all share the same chart of accounts

B : Three, because each requires a different currency

C : Two, because the US and Canada can share the same ledger because they are in North America

D : Four, because the UK has statutory requirements and you will need a separate ledger for statutory reporting

Answer: B

Question 4

Which two are valid Data Access Set types? (Choose two.)

Options :

A : Full access

B : Full Ledger

C : Primary Balancing Segment Value

D : Read and Write access

E : Read Only access

Answer: A,E

Question 5

Management has added a requirement to segregate the duties of transferring journals to the General Ledger from the posting function. Which two new features allow this segregation? (Choose two.)

Options :

A : Uncheck the Enable Posting from the Manage Subledger Accounting Options task.

B : Journal entry spreadsheets are not impacted by this new function.

C : Must have separate user defined roles using the privilegeXLA_CREATE_GENERAL_LEDGER_AND_SUBLEDGER _JOURNALS.

D : For previously scheduled automated processes, it is recommended to cancel and rescheduled the process for the option to be effective.

Answer: A,D

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