Oracle EBS R12: General Ledger and Payables Fundamentals Sample Questions:

1. The Health Department of the United Kingdom is using the cash basis of accounting. After the recent elections, the new government has decided to implement Oracle General Ledger. They want to change the accounting method to accrual basis. However, they also want to maintain the cash basis of accounting for reporting purposes. As an implementation consultant, what one recommendation would you make to meet the above requirement?

A) Create a primary ledger with standard accrual, and the secondary ledger with the standard cash methods.
B) Create two primary ledgers with the standard cash method.
C) Create a primary ledger with standard cash, and a reporting ledger with standard accrual.
D) Create a primary ledger with the standard accrual method, and a reporting ledger with standard cash.
E) Create two primary ledgers with the standard accrual method.

2. Select the correct sequence of tasks required for period closing in Oracle General Ledger.
1.Verify that all journals are posted.
2.Close the period of each subledger.
3.Run the Trial Balance report and other month-end reports.
4.Close the period and open the next period.
5.Perform reconciliation of subsidiary ledgers.
6.Transfer and import data from all subledgers.

A) 6, 5, 2, 1, 4, 3
B) 3, 2, 1, 6, 4, 5
C) 6, 5, 1, 3, 2, 4
D) 6, 5, 2, 1, 3, 4
E) 6, 2, 3, 1, 5, 4

3. You are implementing Oracle General Ledger at a client site. The client is based in the US, but they have a global presence in many countries and transactions in multiple currencies. The implementation team decides that the Oracle General Ledger multi-currency setup will be a part of the implementation. The client's Chief Financial Officer wants a system that has these features:
1.Enter transactions and reports in any currency.
2.Enter exchange rates online or automatically.
3.Calculate realized and unrealized gains and losses. IV. Translate actual and budget balances.
4.Produce foreign currency financial statements and reports.
Which requirements can be satisfied with the implementation?

A) 1, 2, and 3 only
B) All requirements from 1 through 5 can be satisfied.
C) 1, 2, 4, and 5 only
D) 1, 2, 3, and 4 only

4. Identify the default value for the term date that would extend the time to pay an invoice, if the payment term is net 30 days.

A) goods received date
B) system date
C) invoice entered date
D) invoice received date
E) invoice date

5. Select two restrictions that apply to consolidating budget balances. (Choose two.)

A) If the source and target budgets share the same start period, you must consolidate a specific period to a specific period.
B) If the source and target budgets do not share the sameledger, you must consolidate a specific period to a specific period.
C) If the source and target budgets share the same calendar, you must consolidate a specific period to a specific period.
D) If the source and target budgets do not share the same calendar, you must consolidate a specific period to a specific period.
E) If the source and target budgets do not share the same start period, you must consolidate a specific period to a specific period.

Solutions: