Oracle Oracle Certifications 1Z0-408 Questions & Answers

• Question 51:

  Which two types of journals can be automatically routed through the journal approval process?

  A. Allocation journals

  B. Revaluation journals

  C. Manual journals

  D. Sub ledger journals

  E. Journals imported from third-party systems

  Correct Answer: AD

• Question 52:

  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.

  Correct Answer: B

• Question 53:

  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

  Correct Answer: BDE

• Question 54:

  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

  Correct Answer: E

• Question 55:

  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.

  Correct Answer: D

• Question 56:

  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.

  Correct Answer: B

• Question 57:

  Your customer is closing their period and they are using Fusion Intercompany to create physical invoices in Fusion Payables and Receivables.

  What is the correct order of steps to close Fusion sub ledgers, Fusion Intercompany, and Fusion General Ledger?

  A. Close Fusion Payables and Receivables periods, close the related intercompany period, and then close the Fusion General Ledger's period.

  B. Close Fusion Payables and Receivables periods, close Fusion General Ledger, and then close the related intercompany period

  C. Close the related intercompany period, close Fusion Payables and Receivables periods, and then Fusion General Ledger.

  D. You only need to close Fusion Payables and Receivables periods followed by the Fusion GeneralLedger's period.

  Correct Answer: C

• Question 58:

  Your customer has a large number of legal entities. The legal entity values are defined in the company segment and the primary balancing segment. They want to easily create eliminating entries for the intercompany activity.

  What should you recommend?

  A. Define an intercompany segment in the chart of accounts. The Intercompany module and the intercompany balancing feature in general ledger and sub ledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading.

  B. There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.

  C. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment.

  D. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the Intercompany rules you define.

  Correct Answer: C

• Question 59:

  You want to automatically post journal batches imported from subledger source to prevent accidental edits of deletions of the subledger sources journals, which could cause an out -of- balance situation between your sub ledgers and general ledger.

  Which two aspects should you consider when defining your AutoPost Criteria?

  A. Use the Alloption for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process.

  B. Include all of your sub ledger sources in the AutoPost Criteria. Divide up criteria sets by subledger source only if you need to schedule different posting times.

  C. Create your AutoPost criteria using minimal source and categories.

  D. Schedule your AutoPost Criteria set to run during off-peak hours only

  Correct Answer: A

• Question 60:

  You need to create a month-end re-porting package for an upcoming Audit Committee meeting. You have 10 financial reports that you will need to share with executives and auditors.

  In which three ways do you accomplish this?

  A. Using Workspace, assemble multiple reports into a book.

  B. Use a Report Batch to run reports at a specific time to create set of snapshot reports based on accounting information at that specific point in time.

  C. Users can drill down on snapshot reports for future analysis.

  D. The report contained in the book can be printed or viewed individually or as an entire book thatincludes a table of contents.

  E. Snapshot reports can only be viewed online.

  Correct Answer: ACD