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Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:

1. Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)

A) Intercompany Balancing Rules are defined centrally and applied across Financials and Projects.
B) In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals.
C) Each product has its own Intercompany Accounting feature that needs to be configured separately.
D) Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product.

2. What are two uses of the Column Flattening and Row Flattening features? (Choose two.)

A) Set the status of a tree to active.
B) View information for runtime performance.
C) Optimize parent/child relationships.
D) Verify correctness of trees.
E) Create additional versions of a tree.

3. Which two statements are true about balances cubes in General Ledger?

A) They are updated automatically when the Revaluation process is run.
B) They are updated automatically when the Translation process is run.
C) A new balances cube is created for a unique combination of ledger and currency.
D) They are updated automatically when the General Ledger period is opened.
E) New dimensions can be added to a General Ledger balances cube.

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?

A) Historical rates are converted into an average rate (original and new rate).
B) The existing historical rate is deleted.
C) The historical rate is replaced.
D) Nothing, existing historical rates are not updated.

5. Which two statements are true regarding the Translation process? (Choose two.)

A) Any resulting offset from the translation is entered in the Cumulative Translation Adjustment account.
B) The Translation process can only be used for translating the balances of Secondary ledgers.
C) The Translation process can only be used to translate balance sheet accounts.
D) The Translation process should be run before posting Period Close adjustment entries.
E) If necessary, before submitting the Translation process, the Revaluation process should be completed.

Solutions: