Question 1

What are The two advantages of having an intercompany segment in the Chart of Accounts?

Options :

A : Identifies partners in each intercompany line through balancing, by populating the intercompany segment with the trading partner.

B : Assists reconciliation through balancing, by populating the intercompany payable and intercompany receivable accounts.

C : Assists reconciling intercompany transactions and helps identify elimination entries.

D : Enables balancing of many to-many primary balancing segment value journals and many to many legalentity journals

Answer: A,C

Question 2

Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation. What feature can you use to be proactively notified of account anomalies in a more timely manner?

Options :

A : Account Monitor

B : Financial Reports with Embedded charts

C : Smart View

D : Account Inspector and its charts

Answer: A

Question 3

You need to integrate Fusion Accounting Hub with external source systems used for Billing. Identify the step that is not correct when implementing this integration.

Options :

A : Determine the accounting impact of transactions.

B : Capture accounting events.

C : Create the accounting in the source system and then import the journal entries into subledger accounting.

D : Analyze external system transactions.

Answer: C

Question 4

When working with Essbase, versions of the tree hierarchy as defined in the Fusion are not available in the Essbase balances cube. What should you do to correct this situation?

Options :

A : Redeploy the chart of accounts.

B : Make sure to flatten the rows of the tree version.

C : Make sure the tree is active.

D : Make sure the tree version was published successfully.

Answer: D

Question 5

All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships. What is Oracle’s recommended approach to performing consolidations?

Options :

A : Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program

B : Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger’s Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.

C : 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 creates a ledger set across all ledgers and report on the ledger set.

D : Use Oracle Hyperion Financial Management for this type of complex consolidation.

Answer: A

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