Question 1

The general accountant is trying to update the cost center for the Default Suspense Account in the LedgerOptions to match the cost center for the Rounding Account.The rounding account is showing as 01-110-7699-00; however, 110 is not appearing in the List of Values forthe accountant to select in the Suspense Account.What is the reason for this?

Options :

A : The general accountant does not have the Financials Application administrator role assigned and, therefore, has view-only privileges on this page

B : The general accountant has a segment value security rule assigned which restricts access to that cost center

C : There is a primary balancing segment attached to the legal entity of the primary ledger

D : A cross validation rule is in place to prevent the resulting combination from being created

Answer: D

Question 2

You are defining intercompany balancing rules that are applied to a specific source and category, such aspayable and invoices, or a specific intercompany transaction type, such as Intercompany Sales.Which two statements are correct? (Choose two.)

Options :

A : You can create a rule for all sources and categories by selecting the source “Other” and the category “Other”.

B : If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value.

C : You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work.

D : Set up a chart of accounts rule for every chart of accounts structure you have in order to ensure that Intercompany Balancing will always find a rule to use to generate balancing accounts.

Answer: A,D

Question 3

Which three objectives must be considered when designing the chart of accounts? (Choose three.)

Options :

A : Anticipate growth and maintenance needs as organizational changes occur

B : Effectively manage an organization’s financial business

C : Try to use all 30 segments and 25 characters per segment because you cannot change it later

D : Consider implementing a single, global chart of accounts

E : Limit the number of segments to those you need today to reduce data entry

Answer: A,B,D

Question 4

You are reconciling your Payable sand Receivables balances against the General Ledger. You are using the Payables to Ledger Reconciliation report. You notice discrepancies between the balances in the subledgers, subledger accounting, and general ledger. Which three factors are responsible for these out-of-balance situations?

Options :

A : Intercompany transactions have not been fully processed.

B : Period Close processes, such as Revaluation, Translation, and Consolidation have not been performed yet.

C : There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.

D : Subledger transactions have been accounted and transferred to General Ledger but have not been posted.

E : All subledger transactions have been entered but do not have complete accounting.

Answer: A,B,D

Question 5

Your Oracle Fusion Cloud client needs to store balances such as floor space, number of employees, quantities purchased for use in journal allocations, and financial reporting. Currently, in their test environment, they are unable to record statistical amounts. What is the reason?

Options :

A : The currency STAT does not have the statistical unit type enabled.

B : The ledger currency does not have the derivation flag enabled.

C : The currency STAT does not have the ISO currency flag enabled.

Answer: A

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