1Z0-508 Online Practice Questions and Answers

Correct Answer: C

Oracle Fusion Accounting Hub is integrated with Oracle Hyperion Data Relationship Management, Fusion Edition, which is a master data management solution for creating and maintaining hierarchies across your enterprise. This integration allows you to maintain your charts of accounts values and hierarchies in one central location, and then to synchronize your hierarchies in Oracle Fusion and E-Business Suite General Ledgers. With licensing and integration of Data Relationship Management, you can:

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Update and change Data Relationship Management versions and hierarchies. The results of these changes are exported to the values sets in the Oracle Fusion and E-Business Suite General Ledgers, E-Business Suite parent child hierarchies, and Oracle Fusion Trees.

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Synchronize charts of accounts and hierarchies across multiple Oracle general ledger instances.

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Store segment value attributes, such as account type, start date, and end date, providing the ability to enter such values in Data Relationship Management and integrate them to Oracle Fusion and E-Business Suite General Ledgers.

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Submit standardized E-Business Suite Standard Request Submission and Oracle Fusion Enterprise Schedule Service requests from both the E-Business Suite and the Oracle Fusion General Ledgers to import values from Data Relationship Management.

Reference: Oracle Fusion Accounting Hub Implementation Guide 11g, Integration with Hyperion Data Management

Correct Answer: A

After enabling an Essbase outline to accept duplicate member names, there are two methods you can use for loading data using a data file and data load rule: loading data using qualified member names and loading data using ancestor reference.

Reference: Loading Data to Essbase 11.1.2 Outlines Containing Duplicate Member Names

Correct Answer: B

Note: Ledger Processing Options If there are legal entities that require any one of the below ledger processing options to be different, then define a separate primary ledger for each legal entity and therefore, a new accounting setup

Ledger Processing Options are defined at the ledger level and refer to the following options that control how journals and transactions are processed for that ledger:

First Ever Opened Period

Number of Future Enterable Periods

Retained Earnings Account

Subledger Accounting Options, such as the subledger accounting method, journal description language, entered currency balancing account, cash basis accounting, and the ledger currency balancing account

Option to track balances using a secondary segment Suspense Account Rounding Differences Tracking Account

Intracompany Balancing option Journal Approval Journal Entry Tax Journal Reversal Criteria Set Default Period End Rate Type Default Period Average Rate Type Cumulative Translation Adjustment Account Journal Reconciliation Budgetary Control Reserve for Encumbrance Account Average Balance Processing Average Balance Consolidation Net Income Account Transaction Calendar Reference: Oracle Financials Implementation Guide , Overview of Accounting Setups

Correct Answer: AC

Note: Oracle recommends that you save the following objects to the subject area folder: calculated items, custom groups, and filters. If a subject area folder does not exist in your /My Folders folder or within the /Shared Folders folder, then Oracle BI EE creates a subject area folder and the Save As dialog will default a save path to /My Folders/Subject Area Contents/. Saving these objects to the subject area folders ensures that they will be available when you build an analysis for the same subject area.

Correct Answer: ABD

Prior to generating the allocation and periodic entries, the following tasks must be completed:

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(A) The period is set to Open or Future Enterable. You post in open periods, but generation can take place in either an open or future enterable period.

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(B) The rules or rules sets have been defined, validated, and deployed successfully from the Allocation Manager.

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(D) The journal balances, that are inputs for the allocation or periodic rules, are entered and posted in the proper period.

Note on B:In Oracle Fusion General Ledger, use the Allocation Manager to create allocations and other formulaic journal templates for generating periodic journal entries automatically. Base formulas on multiple criteria. For example, use account balances or statistical amounts to allocate shared revenue or costs across multiple organizational units and ledgers. Define complex computations based on variables from different charts of accounts. Group journal formulas together and execute sequentially to update account balances in a step-by-step process.

Reference: Oracle Fusion Applications Financials Implementation Guide, Generating Allocations and Periodic Entries Manually: Worked Example

Correct Answer: B

Subledger journal entry rule sets provide the definition for generating a complete journal entry for an accounting event.

Select the option to define the subledger journal entry rule set for a particular accounting event class or accounting event type.

Note: The following definitions are utilized to define the journal entries, and are applied as updates to the accounting method:

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Updates to the predefined accounting method

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Assignment of journal entry rule sets for an accounting event class and/or accounting event type from the accounting methods page

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Assignment of accounting methods to ledgers

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Activation of subledger journal entry rule set assignments Reference: Oracle Fusion Applications Financials Implementation Guide, Creating Accounting Method: Explained

Correct Answer: BCD

If you change the status of a tree structure, the status of the trees and tree versions associated with that tree structure also changes.

The following table lists the different statuses of a tree structure.

Status, Meaning

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Draft

Yet to be published or is in a modified state.

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Active

In use and based on which one or more trees or tree versions are created.

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Inactive

Not in use.

Reference: Oracle?Fusion Applications Financials Implementation Guide, Setting Status

Correct Answer: AB

Journal approval in Oracle Fusion applications uses Oracle Fusion Approvals Management (AMX) to merge the functionality of Oracle Approvals Management (AME) and PeopleSoft Approvals (AWE).

Reference: Oracle Fusion Applications Financials Implementation Guide, Approving Journals: Points to Consider

Correct Answer: BD

D: A book POV allows anyone running the book to use the same default values for all grids in all reports in the book simultaneously each time the book is run. It is specific to a database connection for a book, but not specific to any report or grid object in a report in that book. As the book POV values are saved with the book itself, changes to the book POV do not affect the book designer's user POV.

Reference:H Y P E R I O NF I N A N C I A L R E P O R T I N G S T U D I O, User's Guide, Frequently Asked

Correct Answer: E

Oracle Business Intelligence Mobile, part of Oracle Business Intelligence

Foundation Suite, provides the ability to deliver analyses, dashboards, alerts, and other BI content directly to mobile devices, enabling users to view and then take action on BI insights wherever they are.

Intelligence Mobile gives you the full spectrum of BI functionality on hoc query, OLAP analysis, dashboards and scorecards. You even have the ability to turn insight into action directly from your mobile reports and dashboards.

Reference: Oracle Business Intelligence Mobile, Data Sheet