Question 1

Which three objectives must be considered when designing the chart of accounts? (Choose three.)

Options :

A : Anticipate growth and maintenance needs as organizational changes occur

B : Effectively manage an organization’s financial business

C : Try to use all 30 segments and 25 characters per segment because you cannot change it later

D : Consider implementing a single, global chart of accounts

E : Limit the number of segments to those you need today to reduce data entry

Answer: A,B,D

Question 2

Your company has a legal entity in the UK, US, and CanadA. They can all share the same chart of accountsbut are required to transact and report in their local currency.What is the minimum number of ledgers you need and why?

Options :

A : One, because they can all share the same chart of accounts

B : Three, because each requires a different currency

C : Two, because the US and Canada can share the same ledger because they are in North America

D : Four, because the UK has statutory requirements and you will need a separate ledger for statutory reporting

Answer: B

Question 3

What are The two advantages of having an intercompany segment in the Chart of Accounts?

Options :

A : Identifies partners in each intercompany line through balancing, by populating the intercompany segment with the trading partner.

B : Assists reconciliation through balancing, by populating the intercompany payable and intercompany receivable accounts.

C : Assists reconciling intercompany transactions and helps identify elimination entries.

D : Enables balancing of many to-many primary balancing segment value journals and many to many legalentity journals

Answer: A,C

Question 4

In which two ways can your users personalize the Springboards and Work Areas to suit their individual working styles? (Choose two.)

Options :

A : They can format certain tables by hiding and showing columns, moving columns, and resizing columns

B : Users have very little control configuring their Springboards and Work Areas; they can only resize columns

C : They can have the System Administrator configuring pages for them using Page Composer

D : They can use “+” under the Apps section of the News Feed homepage

Answer: A,D

Question 5

Your customer is a financial institution that needs to maintain average daily balances (ADB). Which statement is true about this functionality in Oracle Fusion Cloud applications?

Options :

A : Average balances are stored for both subledger and general ledger balances.

B : Average balances are maintained for both actual and budget balances.

C : When using ADB, you must define a transaction calendar and assign it to your ledger.

Answer: B