1Z0-408 Online Practice Questions and Answers

Which repot show you differences between your subledger balances and General Ledger balances?

A. Payables Trial Balance, Receivables Trial Balance, and General Ledger Trial Balance reports

B. Payables and Receivables Aging Reports with the General Ledger Trial Balance report

C. Payables to Ledger Reconciliation Report and the Receivables to Ledger Reconciliation Report

D. General Ledger Financial Statements and the Accounts Payable and Accounts Receivables Invoice Registers

Your customer operates three shared services that perform accounting functions across 50 countries. What feature allows them to share setup data, such as Payment Terms, across Business Units?

A. Reference Data Sets

B. Business Units functions

C. None. Setup data is partitioned by Business Unit and must be defined separately per Business Unit.

D. Data Access Sets

You want to define a tree or hierarchy for use in reports and allocations.

What three aspects should you remember when creating the tree?

A. You need to flatten the rows to be able to use drilldown in Smart View and you must publishtree to view the hierarchy in Essbase cubes.

B. You must flatten the columns and publish the tree to view the hierarchy in Essbase cubes.

C. The tree should have at least two tree versions to reduce report and allocation maintenance.

D. You only need to flatten the columns if you plan to use the hierarchy in Oracle Transactional Business Intelligence (OTBI).

E. It is fine to have the same child value roll up to two or more different parent values.

Your customer has a large number of legal entities. The legal entity values are defined in the company segment and the primary balancing segment. They want to easily create eliminating entries for the intercompany activity.

What should you recommend?

A. Define an intercompany segment in the chart of accounts. The Intercompany module and the intercompany balancing feature in general ledger and sub ledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading.

B. There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.

C. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment.

D. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the Intercompany rules you define.

You are reconciling your Payables the Receivables balances against the General Ledger. You are using the Payables to Ledger Reconciliation report. You notice discrepancies between thebalances in the subledgers, subledger accounting, and general ledger.

Which three factors are responsible for these out-of-balance situations?

A. All sub ledger transactions have been entered but do not have complete accounting.

B. Subledger transactions have been accounted and transferred to General Ledger but have not been posted.

C. There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.

D. Intercompany transactions have not been fully processed.

E. Period Close processes,such as Revaluation, Translation, and Consolidation have not beenperformed yet

You want to prevent intercompany transactions from being entered during the last day of the close. What should you do?

A. Close all subledger periods.

B. Close Intercompany periods in Fusion Intercompany.

C. Freeze the Intercompany Journal source in General Ledger.

D. Close the General Ledger period in the Manage Accounting Periods page.

Which reporting tool is best suited for submitting high-volume transactional reports, such as invoice Registers or Trial Balance reports, that can be configured to extract the data in Rich Text Format or XML?

A. Financial Reporting Center

B. Oracle Transactional Business Intelligence (OTBI)

C. Intelligence Publisher (BI Publish.

D. Smart View

E. Oracle Business Intelligence Applications (OBIA)

On whichthree occasions are Essbase balances updated?

A. Every time the tree version is published

B. Every time journals are posted to the general ledger

C. Every time you run the batch program called "Update Essbase Balances"

D. At report run-time

E. Every time you open a new period

You need to integrate Fusion Accounting Hub with external source systems used for Billing.

Identity the step that is not correct when implementing this integration.

A. Analyze external system transactions.

B. Capture accounting events.

C. Determine the accounting impact of transactions.

D. Create the accounting in the source system and then import the journal entries into subledger accounting.

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. Whether to allow receivers to reject intercompany transactions

C. Automatic or manual batch numbering and the minimum transaction amount

D. Automatic or manual batch numbering and the maximum transaction amount

E. The approvers who will approve intercompany transactions