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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q63-Q68):

NEW QUESTION # 63
When will Intercompany processing balance a journal using the accounts identified here for the UK Ledger?

A. when there is a many-to-many journal and you want to use a clearing company
B. when the journal is balanced by the primary BSV but not by second or third BSV
C. when the journal is balanced by second balancing segment value
D. when the journal is not balanced by the primary balancing segment value (BSV)

Answer: B

Explanation:
Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary balancing segment value (BSV) but not by second or third BSV. A BSV is a segment in the chart of accounts that identifies a legal entity or business unit for which financial statements are prepared and balanced. A primary BSV is required for every ledger and is used to balance journal entries within a ledger. A secondary or tertiary BSV is optional and is used to balance journal entries across different dimensions other than the primary BSV, such as fund or region. Intercompany processing is a feature that enables intercompany transactions between different legal entities or business units within the same enterprise. Intercompany processing uses intercompany balancing rules to generate intercompany receivables and payables accounts for cross-ledger or cross-BSV journals. Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary BSV but not by second or third BSV, as thisindicates that there is an intercompany transaction between different legal entities or business units within the UK Ledger that requires intercompany balancing.
Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when there is a many-to-many journal and you want to use a clearing company, as this is a scenario that involves multiple legal entities or business units across different ledgers that requires a separate clearing company ledger to perform intercompany balancing. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is not balanced by the primary BSV, as this is an invalid scenario that violates the accounting rules and prevents posting of the journal. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by second balancing segment value, as this is an incomplete scenario that does not specify whether the journal is also balanced by primary and third BSV. Reference: Oracle Financials Cloud: General Ledger
2022 Implementation Professional Objectives - Configure and Process Intercompany 12

NEW QUESTION # 64
Budgetary control for accounts5020and5021has a budget of$90,000 USDeach for the year2012. The accounts also have balances onobligation of $10,000 USDfor each and anexpenditure of $20,000 USDfor each.
AFund of $50,000 USDis available for account5020only. You have run theEncumbrance Year End Carry Forward processfor obligation from the last period of the year2012to the first period of year2013.
Which statement is true?

A. If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.
B. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forward.
C. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances.
D. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward.

Answer: B

NEW QUESTION # 65
You can run predefined reports to reconcile subledger application balances to General Ledger balances.
Which attribute must you set up on the Manage Values page for chart of accounts segment values so that you can run the Payables to General Ledger Reconciliation report or Receivables to General Ledger Reconciliation report?'

A. Financial Category
B. End Date
C. Start Date
D. Reconcile
E. Third Party Control Account

Answer: A

NEW QUESTION # 66
You are implementing amultipillarimplementation of bothHCM CloudandERP Cloud. You are implementingERP first, followed byHCM Cloud. You want to ensure yourledgers and chart of accounts are correctly defined.
What should you do? (Choose three.)

A. Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies.
B. Create your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets.
C. Deploy your chart of accounts.
D. Use HCM's Enterprise Structure Configurator (ESC) first.
E. Use the Rapid Implementation spreadsheet when creating your enterprise structure.

Answer: B,D,E

NEW QUESTION # 67
You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered and posted after you consolidated your results.
What is Oracle's recommended practice when this occurs?

A. Translate only the adjusting journal entry.
B. Rerun Revaluation and then rerun Translation.
C. Rerun Translation and then reconsolidate your results.
D. Enter another adjusting journal entry in the target currency to true up the balances.

Answer: C

Explanation:
According to Oracle's documentation, if you enter and post additional journal entries in your ledger currency after you run translation, you should rerun translation for the entire ledger or ledger set to ensure that all balances are translated using the same exchange rates. Then, you should reconsolidate your results to reflect the updated translated balances. References:
* Using General Ledger, page 9-7: "If you enter and post additional journal entries in your ledger currency after you run translation, you should rerun translation for the entire ledger or ledger set."
* Using General Ledger, page 9-8: "After you run translation, you can consolidate your results to create a consolidated balance sheet and income statement."
* Implement General Ledger, page 2-10: "You can translate and consolidate balances as part of the period close process."

NEW QUESTION # 68
......

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