Free Oracle 1z1-408 Exam Dumps Questions & Answers

All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting.
What does Oracle consider the best practice approach to performing consolidations?

• A.  Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to theparent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
• B.  Use Oracle Hyperion Financial Management for this type of complex consolidation.
• C.  Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar,currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then create a ledger set across all ledgers and report on the ledger set.
• D.  Use General Ledger's Financial Reporting functionality to produce consolidated reports bybalancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment.

Your customer operates three shared services that perform accounting functions across 50 countries.
What feature allows them to share setup data, such as Payment Terms, across Business Units?

• A.  Reference Data Sets
• B.  Business Units functions
• C.  Data Access Sets
• D.  None. Setup data is partitioned by Business Unit and must be defined separately per Business Unit.

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.  Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use.
• B.  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.
• C.  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.
• D.  Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.

What are the two benefits of having the Essbase cube embedded in Fusion General Ledger?

• A.  You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts.
• B.  You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously.
• C.  Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules.
• D.  General ledger balances are multidimensional, allowing you to perform robust reporting and analysis.
• E.  Posting performance is much faster.

What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?

• A.  Accounting attributes
• B.  Mapping Sets
• C.  Event Classes
• D.  Transaction Objects
• E.  Event Entities