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Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

1. The expense account of airfare was erroneously assigned to the account type "Liability". Which method should you choose to fix the problem?

A) Run the "Update Balance Cube Chart of the Accounting Dimension" program
B) Run the "Segment Value Inheritance" program
C) Deactivate the value
D) Run the "Correct Misclassified Account" program

2. On which three occasions are Essbase balances updated? (Choose three.)

A) every time you run the batch program called "Update Essbase Balances"
B) every time journals are posted to the general ledger
C) every time you open a new period
D) every time the tree version is published

3. The Create Accounting program could not determine the debit side of the journal entry Which component of Subledger Accounting determines the debit or credit side of a journal entry?

A) Account Rule
B) Journal Accounting Rule
C) Journal Line Rule
D) Journal Entry Rule
E) Journal Balances Rule

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

A) Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals
B) Each product has its own Intercompany Accounting feature that needs to be set up separately
C) Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management
D) They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub

5. Your customer wants to create fully balanced balance sheets for the Company, Line of Business, and Product segments for both financial and management reporting. What is Oracle's recommended method for doing this?

A) Create three segments for the Company, Line of Business, and Product segments and qualify them as primary balancing segment, second, and third balancing segments, respectively
B) Create two segments where the first segment represents the concatenation of Company and Line of Business, and then enable secondary tracking for the Product segment
C) Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting
D) Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions

Solutions: