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Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:
1. You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for
$300 is matched to the purchase order. What will be the funds status of the purchase order and the invoice?
A) The purchase order is Liquidated and the invoice is Partially Reserved
B) The purchase order is Partially Liquidated and the invoice is Partially Reserved
C) The purchase order is Partially Liquidated and the invoice will be Reserved
D) Both are reserved
E) The purchase order is Open and the invoice is Validated
2. You are reconciling your subledger balances and you need a report that includes beginning and ending account balances and all transactions that constitute the account's activities. What type of report will provide this type of information?
A) an Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances
B) Journal Reports
C) Aging Reports
D) Account Analysis Report
3. Which two statements are true regarding how intercompany balancing rule, are defined? (Choose Two)
A) You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types
B) You can only define balancing rules for different journals sources. You cannot define balancing rules for different journal categories
C) All Ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules
D) you can define different rules for different chart of accounts, ledgers, legal entities, and primary balancing segment value.
4. Your customer has enabled budgetary control for purchase orders. They have a purchase order for
$1,000 USD which is fully reserved. An invoice for $600 is entered and matched to the purchase order, and the purchase order is closed for further invoicing. What happens to the remaining $400 USD?
A) Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of$400 USD
B) $400 USD will be added back to available funds
C) Only obligation type will have $400 USD funds available
D) Invoice type will have less funds available by $400 USD
E) $400 USD will be expired and not available for use
5. You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What so you need to enable?
A) Allow Expansion
B) Nothing. All report balances are drillable in all FR Studio reports
C) Drill Through in Grid Properties
D) Report Functions
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: A,C | Question # 4 Answer: B | Question # 5 Answer: C |
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