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Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

1. A company has the second and third balancing segment enabled for its chart of accounts, and the journal is balanced by the primary balancing segment but is out of balance by the second and third balancing segment. This is an example of ____________.

A) Segment qualifier
B) Balancing Segment Rule
C) Chart of Account Rule
D) Chart Account Balancing Rule

2. 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) Define approver authorization limits.
C) Enable customization.
D) Set up journal category to use journal approval.
E) Create an approval hierarchy.

3. At which two levels do you need to enable the approval process you start defining it?

A) Category
B) Ledger
C) Source
D) Journal

4. Which method will reverse accruals in the next accounting period?

A) Create one event and use the Accounting Reversal attribute.
B) Create one event and use the GL functionality to perform the reversal.
C) Create one entry and use Accrual Reversal GL Date.
D) Create two events, one for accrual and another for the reversal.

5. You have been given a task to update a calendar by adding a new period to it. What is the quickest way to perform this task?

A) Use the Add Year button.
B) Run the Other - Calendar Validation Report.
C) The application automatically populates the next period.
D) Manually add the periods.

Solutions: