Oracle EBS R12: General Ledger and Payables Fundamentals Sample Questions:
1. John, the rates manager at ABC Company in the USA, is in charge of maintaining currency rates for the entire company. John had defined the rates for GBP to USD and GBP to Indian Rupee (INR) only. Sam, the company accountant, is worried that he would not be able to execute transactions involving USD and INR currencies. What does John say to help Sam?
A) Currency Rates Manager automatically converts all transactions entered in INR to USD.
B) Currency Rates Manager automatically converts all transactions entered in INR to GBP first and then to USD.
C) Sam must manually define the USD to INR rates first, to be able to enter transactions involving USD and INR currency.
D) Currency Rates Manager automatically performs the calculation between USD and INR on the basis of cross-rate rules.
E) Sam must manually define the INR to USD rates first, to be able to enter transactions involving USD and INR currency.
2. You can hold the payment of an entire invoice or part of an invoice. This hold prevents a validated invoice from being selected in a Payment Batch, and paid. Identify the Payables window where you can select the Hold check box to place the invoice on a Payment Hold.
A) Invoice Overview
B) Enter Payments
C) Scheduled Payments
D) Invoice Distributions
3. Your client is in the process of closing its first year-end. The client completed the accounting cycle and found that several income statement accounts have a remaining balance. What would be the likely cause of these remaining balances?
A) Natural accounts were defined to store both statistical and monetary values.
B) Natural accounts were defined with an incorrect account type.
C) Natural accounts were defined to not allow posting.
D) Natural accounts were defined as parent values.
4. Jack is hired as an Oracle General Ledger implementation consultant for XYZ Corporation. Select two options that are necessary to enable journal approval. (Choose two.)
A) Journal Categories form
B) Journal Sources form
C) keyflexfields
D) Journal approval on the Ledger Setup page
E) Journal Encumbrance Types form
5. XYZ Corp. must complete the subledger account process and perform other period-end closing activities. Payables must validate and account for the remaining invoices that have system holds. Select the period-end processing order to be followed assuming that there are no error transactions.
A) transfer journal entries to General Ledger, submit journal import, create accounting, invoice validation, journal posting
B) create accounting, invoice validation, transfer journal entries to General Ledger, journal import, journal posting
C) journal import, journal posting, invoice validation, create accounting, transfer journal entries to General Ledger
D) invoice validation, create accounting, transfer journal entries to General Ledger, journal import, journal posting
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: B,D | Question # 5 Answer: D |
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