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

You are reviewing the Intercompany Reconciliation report for the current period and notice that there is a difference for the period as indicated.What could be reason for this difference?

Options :

A : The transaction needs to be transferred to Payables and accounted in the UK ledger.

B : The transaction needs to be transferred to Payables and accounted in the US ledger.

C : The transaction needs to be transferred to Receivables and accounted in the UK ledger.

D : The transaction needs to be transferred to Receivables and accounted in the US ledger.

Answer: A

Question 3

What is the key functionality of Smart View in Oracle Cloud Financial Reporting?

Options :

A : It is an Excel based add in that integrates with Oracle Essbase GL data for performing financial analysis and reporting.

B : It is a data visualization tool that offers a library of interactive charts and graphs for financial analysis.

C : It is a mobile application for accessing real-time financial dashboards on smartphones and tablets.

Answer: A

Question 4

For translation purposes, the Financials reporting team has decided to load the monthly Historical currency rates by using File-Based Data Interface (FBDI). What happens to the existing historical rate for a specific ledger, currency, account combination, and accounting period if they use insert in the spreadsheet?

Options :

A : Historical rates are converted into an average rate (original and new rate).

B : The existing historical rate is deleted.

C : Nothing, existing historical rates are not updated.

D : The historical rate is replaced.

Answer: D

Question 5

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

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