1z1-333 Exam Training Practice Tests (Oracle Financials Cloud: General Ledger 2016 Implementation Essentials)]

Question 1

You are required to change today's daily rates for converting GBP to USD. What are three ways in which you can update existing daily rates?

A. Update rates manually using the Currency Rates Manager, which can be accessed from the Functional Setup Manager or the General Ledger's Period Close work area. B. Import daily rates through the Daily Rates open interface table. C. Edit existing transactions and update the rates manually. D. Use the spreadsheet loader from the Currency Rates Manager. E. Update rates manually using the Currency Rates Manager, which can be accessed only from the Functional Setup Manager

Correct Answer: A,B,E

Question 2

You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment.
What does Oracle consider as best practice to define this chart or accounts?

A. Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level. B. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance. C. Define the company segment only and qualify it as both the primary balancing segment andintercompany segment. D. Define two different charts of accounts.

Correct Answer: C

Question 3

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

A. 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. B. You can create a rule for all sources and categories by selecting the source "Other" and the category "Other." C. You must define rules for every combination of specific categories and sources. Otherwise, theintercompany balancing will not work. D. Set up a chart of accounts rule for every chart of accounts structure you have in order to ensurethat Intercompany Balancing will always find a rule to use to generate balancing accounts.

Correct Answer: A,C

Question 4

You need to define multiple allocation rules as efficiently as possible.
Which three components can be reused across allocation rules?

A. Run Time Prompts (RTP) B. RuleSets C. Formulas D. Point of View (POV)

Correct Answer: A,B,C

Question 5

Your customer wants to use a clearing company to automatically balance Intercompany entries. Which three statements are true regarding the use of a clearing company value?

A. If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger. B. You must map legal entities to balancing segment values in order to use a clearing company. C. Clearing companies are not supported. D. If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity. E. If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal.

Correct Answer: B,C,E

Question 6

You've set up the standard accrual with encumbrance accounting for your ledger and you realized that the encumbrance journals are defaulting with current date as the accounting date.
What is causing this?

A. The actual accounting date was set up under the encumbrance accounting Default Date Rule. B. The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule. C. The system date was set up under the encumbrance accounting Default Date Rule. D. The current transaction accounting date was set up under the encumbrance accounting Default Date Rule. E. The subledger accounting option Is set to system date.

Correct Answer: D

Question 7

You want to specify Intercompany System Options.
Which three factors should you consider?

A. Whether to enforce an enterprise-wide currency or allow in intercompany transactions in local currencies B. Automatic or manual batch numbering and the minimum transaction amount C. The approvers who will approve intercompany transactions D. Whether to allow receivers to reject intercompany transactions E. Automatic or manual batch numbering and the maximum transaction amount

Correct Answer: A,B,D

Question 8

You are implementing Financials Cloud and are using spreadsheets to load Legal Entities, Business Units, and Account Hierarchies.
Which three setup objects can be loaded via a spreadsheet from Functional Setup Manager?

A. Banks, Bank Accounts, and Branches B. setup data for Receivables and Payables product. C. complete Accounting Configuration D. chart of account values, accounting calendar, and ledger E. Suppliers and Customers

Correct Answer: A,D,E

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Oracle Financials Cloud: General Ledger 2016 Implementation Essentials - 1z1-333 Exam Practice Test