Question 1

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 2

You have created several account groups with the Display in option as Expenses. Which setting determines the account group that will be displayed in the General Accounting infolets on your home page?

Options :

A : Set in Expenses

B : Set as Default

C : Access is Public

D : Access is Shared

Answer: B

Question 3

You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results. What is Oracle’s recommended practice when this occurs?

Options :

A : Translate only the adjusting journal entry

B : Rerun Translation and then reconsolidate your results

C : Rerun Revaluation and then rerun Translation

D : Enter another adjusting journal entry in the target currency to true up the balances

Answer: B

Question 4

Which two statements are true if a journal description rule is defined with sources?

Options :

A : The description rule may be assigned to either the header or line level, or to both.

B : The description rule can only be assigned to the journal line level.

C : You cannot assign journal description rules to sources.

D : The description rule can only be assigned to the header or line level.

E : The sources must also be assigned to the accounting event class that is assigned to the journal entry rule set.

Answer: A,E

Question 5

Your company has two legal entities in the US (Balancing Segment Values [BSV] 101 and 102), one legalentity in France (BSV 401), and one legal entity in the UK (BSV 402).Both US legal entities share the same ledger, whereas the UK and France have their own ledgers.Assuming intercompany transactions are not being entered, what is the minimal action you can take and stillconfigure the ledgers correctly?

Options :

A : You should assign a balancing segment value to identify each legal entity in the US Ledger and assign the balancing segment values to the ledger in the UK and France.

B : You should assign a balancing segment value to identify each legal entity in the US ledger.

C : You should assign a balancing segment value to identify each legal entity in each ledger.

D : You should assign the balancing segment value to the ledger in the US and assign a balancing segment value to identify each legal entity in the UK and France ledgers.

Answer: D

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