Oracle EBS R12: General Ledger and Receivables Fundamentals Sample Questions:

1. ABC Metal Corporation has three legal entities that share the same chart of accounts, accounting calendar, currency, subledger accounting method, and ledger processing options. They have additional accounting requirements:
1.All legal entities share the same primary ledger attributes.
2.None of the legal entities have special requirements to open and close accounting periods
independent from the others.
3.All legal entities engage in intercompany accounting.
4.For month-end consolidation purposes, ABC Metal Corporation wants to keep their
consolidation adjustments and elimination entries completely separate from the day-to-day
transactions of their legal entities.
Based on these requirements, select two considerations that are true for the accounting setup.
(Choose two.)

A) Specific balancing segment values must be assigned to each legal entity.
B) Specific balancing segment values need not be assigned to each ledger.
C) Intercompany accounts must be defined to use the intercompany accounting feature.
D) Secondary ledgers cannot be added for an additional accounting representation.

2. ABC Company's requirement is that all mass allocation journals must be approved by using the journal approval process. When the company accountant enters his or her mass allocation journals, these journals must be routed to his or her manager for approval, then to the CFO, and finally to the CEO for review and final approval. Select the option that would help ABC Company meet this requirement.

A) Go up the management chain
B) Go to peers
C) Go direct to the person with sufficient authorization limit
D) One stopgo direct

3. AutoAccounting automatically generates accounting flexfields for Receivables transactions. Identify four accounts generated by AutoAccounting. (Choose four.)

A) Discount
B) Payable
C) Revenue
D) Receivable
E) Freight
F) Tax

4. ABC company and XYZ company are both customers. Last month XYZ company purchased ABC company. ABC company has hundreds of over-due invoices outstanding. According to the credit department, the layoffs at ABC, following the merger, are responsible for the over-due invoices. Both ABC and XYZ companies are making frequent requests for reprinted invoices of ABC company. There will be no new business with ABC company. However, it will take another three months to respond to the numerous requests for reprinted invoices and ABC company will continue to be charged late fees. How should you handle the merger of ABC company and XYZ company in Oracle Receivables during your first month end after their merger?

A) Invoice XYZ company for the invoices of ABCcompany.
B) Inactivate ABCcompany.
C) Place ABCcompany on credit hold.

5. Select two correct statements for the management segment qualifier in Oracle General Ledger. (Choose two.)

A) The management segment can be a balancing segment.
B) The management segment can be a natural account segment.
C) This segment qualifier is used for management reporting and analysis.
D) Data access sets cannot limit access to specific management segment values.
E) The management segment cannot be an intercompany segment.

Solutions: