Question 1

Which statement is true about journal entry rule sets?

Options :

A : Description rules can be assigned at both the header and the line level of a journal entry rule set.

B : Description rules can be assigned only at the header level of a journal entry rule set.

C : Description rules can be assigned only at the line level of a journal entry rule set.

Answer: A

Question 2

Which predefined role allows a user to manage the period close activities in the General Ledger (GL) application?

Options :

A : Chief Financial Officer (CFO)

B : Financial Analyst

C : General Accountant

D : General Accounting Manager

Answer: D

Question 3

Your company is part of the financial services industry and manages various types of transactions, such as Notional Amount on Trade Positions, Premium Amount, Premium Settlement, and Premium Sweep in their source system. While analyzing their source transaction system, you are asked to propose an event model, based on the activities performed by the company. According to your analysis, what should the Notional Amount on Trade Positions, Premium Amount, Premium Settlement, and Premium Sweep transactions be defined as while registering the source system?

Options :

A : Event types

B : Event classes

C : Source systems

D : Journal sources

Answer: A

Question 4

Your client, a banking organization, has operations in the USA, the UK, France, Japan, and Singapore. As an implementation consultant, you ask the project team to maintain a global chart of accounts. However, the management team in the UK does not agree to allow the generation of dynamic code combinations for the chart of accounts values. What solution would you propose to address this scenario?

Options :

A : Define one chart of accounts structure and enable dynamic inserts for the USA, France, Japan, and Singapore at the ledger options level, but disable it for the UK ledger

B : Define two charts of accounts structures. Enable dynamic inserts for the first structure and disable it for the second one. Assign the first structure to the USA, France, Japan, and Singapore ledgers and the second structure to the UK ledger.

C : Define one chart of accounts structure and disable dynamic inserts for the UK ledger by using the "Allow Dynamic Inserts" profile option

D : Define two chart of accounts structure instances. Enable dynamic inserts for the first structure instance and disable it for the second one. Assign the first chart of accounts structure instance to the USA, France, Japan, and Singapore ledgers and the second chart of accounts structure instance to the UK ledger

Answer: C

Question 5

Given the business use case: "New Trucks" runs a fleet of trucks in a rental business in the U.S. The majority of the trucks are owned; however, in some cases, "New Trucks" may procure other trucks by renting them from third parties to their customers. When trucks are leased, the internal source code is 'L'. When trucks are owned, the internal source code is 'O'. This identifies different accounts used for the journal entry. Customers sign a contract to initiate the truck rental for a specified duration period. The insurance fee is included in the contract and recognized over the rental period. For maintenance of the trucks, the "New Trucks" company has a subsidiary company "Fix Trucks" that maintains its own profit and loss entity. "New Trucks" and "Fix Trucks" are located in the same country and share a chart of accounts and accounting conventions. How many ledgers are required to be set up?

Options :

A : One primary ledger

B : One primary, one secondary ledger

C : Two primary ledgers

D : One primary, one reporting currency ledger

Answer: A

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