Question 1

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 2

You just submitted the Accounting Configuration. What two things must happen before you can enter journals? (Choose two.)

Options :

A : You must re-deploy the chart of accounts

B : A Data Access Set with full read/write access to the ledger is automatically created

C : You must define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration

D : You must assign the job role and data security context to each user

Answer: B,D

Question 3

You want to create an Ad Hoc Analysis in Smart View; you enter the following dimensions for the report and click Refresh in the POV.You get #Missing instead of a balance. What value did you not specify, which resulted in this?

Options :

A : Cost Center

B : Intercompany

C : Product

D : A particular currency

Answer: D

Question 4

Which two statements are true regarding the export/import of reports?

Options :

A : To view errors encountered during the export or import Process, you must use SQL queries to obtain that data because no reports exist.

B : A set of reports lists user names, suppliers, and customers that have been exported/imported.

C : The export/import reports are available only for Fusion Customer Relationship Management.

D : A set of reports are provided for both exported and imported setup data to validate the export/import processes and setup data.

E : Reports on setup data can be used to compare and analyze how the data might have changed over time.

Answer: D,E

Question 5

Your ledger currency is USD. At month end, you have a balance on the Accounts Payable Liability Account of 100,000 Euros, which is equivalent to 136,550 USD. This balance needs to be revalued. The month-end exchange rate for revaluation is 1 Euro = 1.3755 USD. What two statements are true about the resulting revaluation run?

Options :

A : There is no unrealized exchange gain or loss calculated.

B : You have an unrealized exchange loss recorded.

C : The original journal entry in Euros is updated.

D : The original journal entry in Euros remains the same.

E : You have an unrealized exchange gain recorded.

Answer: B,D