Question 1

You need to set up a calendar for the year Apr-XX to Mar-YY where YY is the following year, and you would like the periods to be named according to the year they fall in. What format should you choose?

Options :

A : Fiscal Year

B : Calendar Year

C : Period

D : Year

Answer: A

Question 2

Management has added a requirement to segregate the duties of transferring journals to the General Ledger from the posting function. Which two new features allow this segregation? (Choose two.)

Options :

A : Uncheck the Enable Posting from the Manage Subledger Accounting Options task.

B : Journal entry spreadsheets are not impacted by this new function.

C : Must have separate user defined roles using the privilegeXLA_CREATE_GENERAL_LEDGER_AND_SUBLEDGER _JOURNALS.

D : For previously scheduled automated processes, it is recommended to cancel and rescheduled the process for the option to be effective.

Answer: A,D

Question 3

You are implementing Financials Cloud and are using spread sheets to load Legal Entities, Business Units, and Account Hierarchies. Which three setup object scan be loaded via a spread sheet from Functional Setup Manager?

Options :

A : Complete Accounting Configuration

B : Suppliers and Customers

C : Banks, Bank Accounts, and Branches

D : Setup data for Receivables and Payables product.

E : Chart of account values, accounting calendar, and ledger

Answer: B,C,E

Question 4

What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)

Options :

A : Posting performance is much faster

B : Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules

C : General ledger balances are multidimensional, allowing you to perform robust reporting and analysis

D : You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously

E : You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts

Answer: C,D

Question 5

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

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