Oracle 1Z1-508 : Oracle Fusion Financials 11g General Ledger Essentials

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Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

1. A user wants to enter a multiple currency journal in the General Ledger. What must the user do to see the conversion rate type, conversion date, and conversion rate columns?

A) At the Journal line level, select a blank value in the currency field.
B) At the Journal Header level, select a blank value in the currency field.
C) At the Journal line level, accept the default value in the currency field.
D) At the Journal Header level, accept the default value in the currency field.

2. To open a period without going into the Setup and Maintenance work area you can maintain the period statuses of ledger from the ___________ work area.

A) Manage Revaluations
B) Process Monitoring
C) Account Monitoring
D) General Ledger Journals

3. Identify the option that needs to be selected at the header level when assigning a header level subledger Journal Rule Set.

A) Description
B) Accounting Date
C) Supporting Reference
D) Currency
E) Ledger

4. A client is implementing Fusion Accounting Hub for their external receivable system. The external system sends invoices billed and cash receipts in a flat file along with the customer classification Information. The client wants the accounting amounts to be tracked by customer classification, but NOT necessarily in a Chart of Accounts segment. How can this be solved?

A) Use Open account balances listing.
B) Change the Chart of Accounts structure to include customer classification; there is no other option.
C) Use the Third Party control account feature.
D) Use supporting references to capture customer classification.
E) Capture it as a source and develop custom report.

5. Which accounting attribute group will capture a customer's accounting invoice and the cash applied to that invoice?

A) Distribution identifiers
B) Tax attribute
C) Business Flow
D) System Transaction identifiers

Solutions: