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Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

1. On which three occasions are Essbase balances updated? (Choose three.)

A) every time journals are posted to the general ledger
B) every time you open a new period
C) every time the tree version is published
D) every time you run the batch program called "Update Essbase Balances"

2. You create an invoice for USD 100 that is matched to a purchase order of USD 100. You validate the invoice to consume the budget and reduce funds available. And then later, you cancel invoice. What happened to funds available when you cancel and invoice that requires budgetary control?

A) The funds reserved for the purchase order is reinstated while the invoice expenditure is reversed by USD 100
B) funds Available will change when the invoice is approved
C) The Budget and funds available will increase by USD 100.
D) The Budget will increase by USD 100 ad the funds available will decrease by USD 100

3. Identify three roles that get access to the reports in the Fusion Accounting Hub Reporting Cloud Service (FAHRCS). (Choose three.)

A) General Accountant
B) Financial Analyst
C) Controller
D) Business Intelligence Administrator (BI Admin)
E) General Accountant Manager

4. In Financial Cloud, which three reporting tools can be used to access General Ledger balances? (Choose three.)

A) Application Composer
B) Financial Reporting Studio
C) Oracle Transactions Business Intelligence
D) Oracle Enterprise Repository
E) Smart View

5. You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for
$300 is matched to the purchase order. What will be the funds status of the purchase order and the invoice?

A) Both are reserved
B) The purchase order is Liquidated and the invoice is Partially Reserved
C) The purchase order is Partially Liquidated and the invoice is Partially Reserved
D) The purchase order is Open and the invoice is Validated
E) The purchase order is Partially Liquidated and the invoice will be Reserved

Solutions: