Oracle Oracle Certifications 1Z0-508 Questions & Answers

• Question 61:

  A database connection can be changed when moving from a development environment server to a production environment server. Identify the reason for the error message "1012: Report contains an Invalid grid. The following dimensions could not be found: Measures."

  A. Dimensions existed in the old database connection, but NOT in the new database connection

  B. Dimensions in the changed database connections do NOT match the previous dimensions

  C. Dimensions do NOT match a specific report in the book

  D. Opening or running the reports or books for an INVALID database connection

  Correct Answer: A

  When the dimensions in the changed database connections do not match the previous dimensions, an error message similar to the following is displayed:

  1012:Report contains an invalid grid. The following dimensions could not be found: Measures The following actions occur when you open and save a report that has mismatched dimensions:

  *

  Dimensions that existed in the old database connection but not in the new database connection are removed. The dimensions and its members that existed in the rows and or columns are removed from the grid. If, as a result of the removal, no dimension exists in the row or column, you need to add a valid dimension to the cleared row or column in order for the report to run.

  *

  Dimensions that exist in the new database connection but not in the old one, are added to the POV.

  Reference: Changing Financial Reporting Database Connections

• Question 62:

  What are the two functions that Oracle Fusion Approvals Management (AMX) merges to approve journal flow?

  A. Oracle Approvals Management (AME)

  B. Oracle PeopleSoft Approvals (AWE)

  C. Business Process Execution Language (BPEL)

  D. Oracle Workflow

  Correct Answer: AB

  Journal approval in Oracle Fusion applications uses Oracle Fusion Approvals Management (AMX) to merge the functionality of Oracle Approvals Management (AME) and PeopleSoft Approvals (AWE).

  Reference: Oracle Fusion Applications Financials Implementation Guide, Approving Journals: Points to Consider

• Question 63:

  Journal Approval has been enabled, however, the journal did NOT submit to the appropriate manager for approval. Which three additional steps must, be performed for the approval process to work?

  A. Set up journal sources to use Journal approval.

  B. Create an approval hierarchy.

  C. Define approver authorization limits.

  D. Enable customization.

  E. Set up journal category to use journal approval.

  Correct Answer: ABE

  A: . Set the options that enable journal approval at the ledger level and by journal source. This allows the approval process to determine which journals to send for approval.

  B:Use the following AMX List Builder to build your approval list.

  *

  Human Resources (HR) Supervisor

  This method uses the HR Supervisory hierarchy levels and specifies the number of levels available for approval.

  *

  Job Level

  A relative dollar amount can be attached to a job. The approval list moves up the HR Supervisory hierarchy to the point it finds a job with the necessary approval amount.

  E: use category, source, account, or descriptive flexfield information as selection criteria for the journals to be sent for approval.

  Reference: Fusion Applications Help, Approving Journals: Points to Consider

• Question 64:

  If you change the status of a tree structure, the status of the trees and tree versions associated with structure also change. Which three statuses apply to the tree structure?

  A. Pending

  B. Draft

  C. Active

  D. Inactive

  E. Future

  Correct Answer: BCD

  If you change the status of a tree structure, the status of the trees and tree versions associated with that tree structure also changes.

  The following table lists the different statuses of a tree structure.

  Status, Meaning

  *

  Draft

  Yet to be published or is in a modified state.

  *

  Active

  In use and based on which one or more trees or tree versions are created.

  *

  Inactive

  Not in use.

  Reference: Oracle?Fusion Applications Financials Implementation Guide, Setting Status

• Question 65:

  A customer is trying to build dynamic reports in Fusion Financial Reporting. What are two recommendations?

  A. Use Function on expanded data segments that are NOT placed on separate rows or columns.

  B. Create reusable objects and row and column templates.

  C. Use cell formulas to write efficient formulas rather than row or column formulas.

  D. Use multiple data segments for formatting or calculating.

  Correct Answer: AB

  When designing dynamic reports, consider the following information: l Use expanded data segments for optimal performance:

  *

  Use functions on expanded data segments that are not placed on separate rows/columns (A)

  *

  Use multiple member selections on expanded data segments that are not placed in separate rows/columns

  *

  Use single data segments only when required for formatting or calculations 2 Write efficient formulas:

  *

  Use row/column formulas rather than cell formulas, when possible (not C)

  *

  Use reference properties

  *

  Use a cell reference instead of cross-axis references

  *

  Remove unnecessary parenthesis from formulas 3 Don't limit your report to the Grid object:

  *

  Add functions in text boxes that highlight specific areas

  *

  Hide a grid of data in a report to highlight just the graphics 4 Create report templates:

  *

  Leverage the power of POVs and prompting functions

  *

  Design once using the CurrentPOV and prompting functions

  *

  Learn the power of Grid, User, Book, and Batch POVs 5 (B) Create reusable objects and row and column templates. Text, Image, Grid, Chart objects, and row and column templates can be reused in multiple reports

  Reference: O R A C L E H Y P E R I O N F I N A N C I A L R E P O R T I N G Studio, Fusion Edition, User's Guide, Recommendations for Designing Dynamic Reports

• Question 66:

  Identify the set up that needs to be completed before you can use cubes.

  A. Microsoft Office

  B. Ledger

  C. FSG

  D. Report Builder

  Correct Answer: B

  Fusion Accounting Hub leverages the Fusion General Ledger. The Fusion General Ledger combines traditional general ledger functionality with Oracle Essbase functionality, which is seamlessly embedded within the Fusion General Ledger.

  For example, at the time users create their chart of

  accounts, the Oracle Essbase cube is created.

• Question 67:

  Which three options tan you use from the Generate Allocations link to open the Submission page?

  A. Print Output

  B. E-mail the output

  C. Notification when this process ends

  D. Automatically save it as an Excel file

  E. Fax the output

  Correct Answer: ABC

  Generating Allocations and Periodic Entries Manually

  1.From the Navigator, click the Journals link to open the Journals work area.

  2.

  In the task pane of the Journals page, click the Generate Allocations link to open the Submission page.

  3.

  Optionally select one or all of the following options:

  *

  (A) Print Output

  *

  (B) E-mail me the output

  *

  (C) Notify me when this process ends

  4.

  Select a rule or rule set from the list of values.

  5.

  Enter the submission parameters, including Ledger, Balancing Segment Value, and Period. The application automatically sets the last day of the submission period as the Accounting Date and Calculation Effective Date.

  6.

  Accept the selected check box for the Post Allocations option to enable the process to post the journal entries.

  If you deselect the check box for the Post Allocations option, you must post the entry manually or define an AutoPost Criteria Set to automatically post the journal entries.

  7.

  Click Submit.

  After the generation process is complete, the journal entries created by the process are available for inquiry on the Journals page.

  Reference: Fusion Applications Help, Generating Allocations and Periodic Entries Manually

• Question 68:

  Which three options can you use from the Generate Allocations link to open the Submission page?

  A. Print Output

  B. E-mail the output

  C. Notification when this process ends

  D. Automatically saveitas an Excel file

  E. Fax the output

  Correct Answer: ABC

  Generating Allocations and Periodic Entries Manually

  1.From the Navigator, click the Journals link to open the Journals work area.

  2.

  In the task pane of the Journals page, click the Generate Allocations link to open the Submission page.

  3.

  Optionally select one or all of the following options:

  *

  (A) Print Output

  *

  (B) E-mail me the output

  *

  (C) Notify me when this process ends

  4.

  Select a rule or rule set from the list of values.

  5.

  Enter the submission parameters, including Ledger, Balancing Segment Value, and Period. The application automatically sets the last day of the submission period as the Accounting Date and Calculation Effective Date.

  6.

  Accept the selected check box for the Post Allocations option to enable the process to post the journal entries.

  If you deselect the check box for the Post Allocations option, you must post the entry manually or define an AutoPost Criteria Set to automatically post the journal entries.

  7.

  Click Submit.

  After the generation process is complete, the journal entries created by the process are available for inquiry on the Journals page.

  Reference: Fusion Applications Help, Generating Allocations and Periodic Entries Manually

• Question 69:

  Select the option that helps in sharing Account Rules across applications.

  A. Transaction Objects

  B. Reference Objects

  C. Same Chart of Accounts

  D. Same Value Set validation

  Correct Answer: B

  To share an account rule across applications, all sources used by the account rule must be available for the event class.

  If the sources are available, an account rule is assigned to a journal line rule in the journal entry rule set, and verification occurs to confirm that all sources used by the account rule are available for the journal line rule accounting event class.

  Journal line rules are only available if the sources

  are shared; such as reference objects.

  Note:

  You may share account rules across applications in the following ways.

  *

  Assign an account rule from the same or a different application to a journal line rule in the subledger journal entry rule set. For example, to derive an expense account for journal line rule Expense, assign the Projects Cost Account rule owned by Oracle Fusion Projects to the Payables journal line rule Expense.

  *

  Create an account rule based on an account rule from another application and assign it to a journal line rule. For example, you may create a new account rule Invoice Expense Account referencing Project Cost Account assigned in the Priorities region. You may attach the Invoice Expense Account rule to the journal line rule Expense in the journal entry rule set.

  Reference: Fusion Applications Help, Sharing Account Rules across Applications

• Question 70:

  Identify the two steps that must be completed when performing Accounting Configuration

  A. Create Legal Entities

  B. Create Primary Ledgers

  C. Create Reporting Currencies

  D. Open First Period

  Correct Answer: AB

  The Setup and Maintenance work area in the Oracle Fusion Applications is used to manage the configuration of legal entities, ledgers, and reporting currencies that comprise your accounting configuration. To create a new legal entity or ledger, your implementation consultant or system administrator must create an implementation project. This implementation project can be populated by either adding a financials related offering or one or more task lists.

  Reference: Oracle Fusion Applications Financials Implementation Guide, Accounting Configuration: Overview