Question 1

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

Question 2

Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation. What feature can you use to be proactively notified of account anomalies in a more timely manner?

Options :

A : Account Monitor

B : Financial Reports with Embedded charts

C : Smart View

D : Account Inspector and its charts

Answer: A

Question 3

You are using account hierarchies for reporting and allocations. Which two statements are true about these types of hierarchies? (Choose two.)

Options :

A : You can have only one version of a hierarchy published to the Essbase cube at any time.

B : Hierarchies for reporting and allocations do not have to be published to Essbase cubes.

C : Hierarchies for reporting and allocations have to be published to Essbase cubes.

D : Child values in these hierarchies can belong to only one parent.

Answer: A,C

Question 4

You are setting up Close Monitor for your organization. What is the key consideration when selecting the ledgers or ledger sets that form part of the Close Monitor hierarchy?

Options :

A : The members of the Close Monitor hierarchy must share a common Chart of Accounts and calendar.

B : The members of the Close Monitor hierarchy must all be primary ledgers or secondary ledgers.

C : The members of the Close Monitor hierarchy must all share the same accounting convention.

Answer: A

Question 5

The Accounting Manager requests that a schedule be created to automatically post journals from subledgers at different times. Which journal attribute should you use to set the automatic posting criteria?

Options :

A : Journal Source

B : Journal Category

C : Journal Batch

D : Journal Description

Answer: A