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Home Oracle 1z0-517

Oracle 1z0-517 Exam Practice Questions (P. 4)

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Question #31
Identify four consolidation tools. (Choose four.)
  1. A
    Interface Data Transformer
  2. B
    Global Consolidation System
  3. C
    Global Intercompany System
  4. D
    Financial Statement Generator
  5. E
    Applications Desktop Integrator

Correct Answer:
ABDE

Question #32
Identify two correct statements about the consolidation feature of Oracle General Ledger. (Choose two.)
  1. A
    Both budget and actual balances can be consolidated.
  2. B
    Consolidation is possible only when the subsidiaries use multiple Oracle application instances.
  3. C
    You can consolidate balances only when there are separate ledgers for different companies.
  4. D
    You can maintain multiple companies with similar or different accounting structures and consolidate their results for meaningful financial reporting.

Correct Answer:
AD

Question #33
ABC Company in the United Kingdom has three subsidiaries in three different countries. It consolidates the accounts of all subsidiaries and the headquarters by using the average balances.
John is new to Oracle General Ledger. He has just joined ABC Company. He needs to consolidate for the current month. On completion of the consolidation, John was not able to tally the consolidated figures with the ledgers. Select two reasons why John failed to see the correct balances. (Choose two.)
  1. A
    Posting of the consolidation journals may have failed.
  2. B
    He forgot to add the prior periods consolidation in the current period.
  3. C
    Manual adjustment needed after every consolidation was not performed.
  4. D
    John may not have reversed the prior periods consolidation in the current period.

Correct Answer:
AD

Question #34
Select two restrictions that apply to consolidating budget balances. (Choose two.)
  1. A
    If the source and target budgets share the same calendar, you must consolidate a specific period to a specific period.
  2. B
    If the source and target budgets share the same start period, you must consolidate a specific period to a specific period.
  3. C
    If the source and target budgets do not share the same ledger, you must consolidate a specific period to a specific period.
  4. D
    If the source and target budgets do not share the same calendar, you must consolidate a specific period to a specific period.
  5. E
    If the source and target budgets do not share the same start period, you must consolidate a specific period to a specific period.

Correct Answer:
DE

Question #35
Select three statements that apply to the Global Consolidation System (GCS). (Choose three.)
  1. A
    It consolidates data from the legacy feeder system.
  2. B
    This system creates consolidated journal entries in both the parent and subsidiary sets of books.
  3. C
    GCS automatically generates journal entries to eliminate intercompany balances based on defined rules.
  4. D
    It performs multidimensional analysis of consolidated financial data by using Oracle Enterprise Planning and Budgeting.

Correct Answer:
ACD

Question #36
Select three statuses of the consolidation workbench. (Choose three.)
  1. A
    posted
  2. B
    entered
  3. C
    exported
  4. D
    reversed
  5. E
    transferred

Correct Answer:
ADE

Question #37
Select three statements that apply to Interface Data Transformer (IDT). (Choose three.)
  1. A
    It ensures reapplication of the same rules each time you transfer.
  2. B
    IDT provides greater flexibility by performing no validation on the imported data.
  3. C
    User-defined conditions enable you to control when transformation rules must be applied.
  4. D
    IDT provides automatic data conversion that converts disparate data formats into an Oracle format.
  5. E
    It makes exporting of data from Oracle General Ledger into external feeder systems much easier and less time consuming.

Correct Answer:
ACD

Question #38
Flavour Inc. in the United Kingdom has a subsidiary in India known as Spices Inc. Flavour Inc. has a four-segment chart of accounts, whereas Spices Inc. has a five-segment chart of accounts. Select three statements that apply to consolidating ledgers with different charts of accounts. (Choose three.)
  1. A
    Only one action can be defined per parent segment.
  2. B
    Consolidations based on account rules process faster.
  3. C
    Consolidations based on segment rules process faster.
  4. D
    Segment rules override account rules if there is any conflict.
  5. E
    A segment rule action must be defined for each segment in the parent chart of accounts.

Correct Answer:
ACE

Question #39
Identify the three actions that you can perform using the consolidation workbench. (Choose three.)
  1. A
    Access the state controller.
  2. B
    Change the chart of accounts.
  3. C
    Create consolidations sets, which launch multiple consolidations in a single step.
  4. D
    Create multi-level hierarchies, which you can view using the graphical consolidation hierarchy viewer.

Correct Answer:
ACD

Question #40
Which item cannot be queried in the Find Consolidation Process window?
  1. A
    balance type
  2. B
    parent period
  3. C
    mapping sets
  4. D
    parent calendar
  5. E
    elimination sets

Correct Answer:
D

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