1Z0-408 Online Practice Questions and Answers

Which repot show you differences between your subledger balances and General Ledger balances?

A. Payables Trial Balance, Receivables Trial Balance, and General Ledger Trial Balance reports

B. Payables and Receivables Aging Reports with the General Ledger Trial Balance report

C. Payables to Ledger Reconciliation Report and the Receivables to Ledger Reconciliation Report

D. General Ledger Financial Statements and the Accounts Payable and Accounts Receivables Invoice Registers

What process must be followed to propagate a chart of accounts hierarchy to the Essbase cube?

A. Define the hierarchy, then deploy the chart of accounts. The chart of accounts hierarchies will be generated automatically.

B. Define the hierarchy, make sure the tree version is active, and then run the publish account Hierarchies program or the Publish Chart of Accounts Dimension Members and Hierarchies

C. Define the hierarchy and make sure the tree is active. The hierarchy will be system generated for

D. Define the hierarchy, make sure the tree is active, and the Publish check box is selected for the hierarchy.

You want to monitor the dose process of all your financial subledgers and ledgers.

How can you quickly obtain this information?

A. Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period.

B. Use the Manage Accounting Periods page to view the status of all subledgers and ledgers.

C. Use Close Monitor in General Accounting Dashboard.

D. Run Closing Status reports.

You customer is a financial Institution that needs to maintain overage daily balances (ADB). Which two statements are true regarding this functionality in Fusion Applications?

A. ADB provides organizations with the ability to track average and end-of-day balances, reportaverage balance sheets, and create custom reports using both actual and average balances.

B. Average balances are stored for both subledger balances and general ledger balances.

C. Average balances are stored in the Essbase cube.

D. Average balances are maintained for both actual and budget balances.

E. When using ADB, you must define a daily calendar and assign it to your ADB ledger.

You are reconciling your Payables the Receivables balances against the General Ledger. You are using the Payables to Ledger Reconciliation report. You notice discrepancies between thebalances in the subledgers, subledger accounting, and general ledger.

Which three factors are responsible for these out-of-balance situations?

A. All sub ledger transactions have been entered but do not have complete accounting.

B. Subledger transactions have been accounted and transferred to General Ledger but have not been posted.

C. There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.

D. Intercompany transactions have not been fully processed.

E. Period Close processes,such as Revaluation, Translation, and Consolidation have not beenperformed yet

Most of the accounting entries for transactions from your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.

At what level can you override the default accounting attribute assignment?

A. Event Type

B. Journal Line Rule

C. Event Class

D. Journal Entry Rule Set

E. Journal Entry

You are required to enter a high volume of users into the system. What does Oracle consider best practice to do this?

A. Use SQL to populate the HR interface tables and load employees in bulk.

B. Use the spreadsheet templates available in Oracle Enterprise Repository (OER) and then import users into Fusion Applications.

C. Use the "Hire an Employee" user interfaceto inter each user manually.

D. Use the spreadsheet available in Oracle Identity Manager (OIM) to import users.

E. Use the "Enter a Supplier" user interface to enter each user manually.

Before implementing Fusion Financials, your customer used to manually reconcile their intercompany payables and receivables accounts.

What is a more automated approach to do this?

A. Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances.

B. Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances.

C. Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance.

D. In Fusion Financials, you must manually reconcile your intercompany account balances.

E. Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances.

Your company wants to change the Cumulative Translation Adjustment (CTA) account to record gains/ losses from varying currency rates.

What steps must you perform to achieve this objective without causing data corruption?

A. Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.

B. Open the Ledgers page and update the CTA account and then rerun Translation for all periods required. The system will automatically update the translated balances.

C. Query the Translation journals and delete all of them, then change the CTA account in the Ledger page, and rerun Translation for all periods required.

D. Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use.

Your new accountants have been making mistakes in reconciling accounts assigned to them.

Yourbalances 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 timelymanner?

A. Smart View

B. Financial Reports with Embedded charts

C. Account Monitor

D. Account Inspector and its charts

Your customer wants to prevent their department managers from viewing the results of other departments where they have no management authority.

What should be implemented for this type of security?

A. Data Access Sets

B. Cross-Validation Rules

C. Segment Value Security

D. Role-Based Access

Which three objectives must be considered when designing the chart of accounts?

A. Effectively manage an organization's financial business.

B. Consider implementing a single, global chart of accounts

C. Anticipate growth and maintenance needs as organizational changes occur.

D. Limit the number of segments to those you need today to reduce data entry.

E. Try to use all 30 segments and 25 characters per segment because you cannot change It later.

You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?

A. Chart of accounts was not deployed.

B. Accounting Configuration was not submitted-

C. An Audit process needs to be successfully performed before a tree version can be set to Active.

D. Two tree versions were not defined

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?

A. Journal Category

B. Journal Source

C. Journal Batch

D. Journal Description

Journal approval uses Approvals Management Extension (AMX). Which AMX builder method is most effective in routing the journals to the Accounting Manager when the General Ledger Accountant enters the journal?

A. Supervisory level based on HR Supervisors

B. Job level

C. Position

D. Approval Group