1Z0-508 Online Practice Questions and Answers

Correct Answer: A

Note:

* Accounting events have financial accounting significance and are used as a basis for the recording of financial information.

*The event status is an indicator of what actions have been completed on the transaction and what operations are yet to be done. It is a snapshot of where the transaction is in its accounting event life cycle.

Reference: Oracle Financial Services Accounting Hub Implementation Guide

Correct Answer: A

Assignment at Header Level

Header assignments define subledger journal header information and line assignments define journal line accounting treatment.

A header assignment includes the following:

Accounting date (required)

Accrual reversal accounting date (optional)

Description rule (optional)

Supporting references (optional)

Assignment at Line Level

Reference: Oracle Fusion Applications Financials Implementation Guide, Define Subledger Accounting Rules

Correct Answer: CDE

C: If a payment is voided after the payment has been confirmed, you must submit the Disbursement in Transit Voided Checks process to create accounting for the voided payments. Oracle Subledger Accounting reverses all journal entries for payments that have been voided.

E: When a subledger journal entry is completed, the reference date must be in an open or future open accounting period. Note:A subledger journal entry can have a status of Draft, Final, Incomplete, Invalid or Invalid Related Entry.

Correct Answer: AB

When designing dynamic reports, consider the following information: l Use expanded data segments for optimal performance:

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Use functions on expanded data segments that are not placed on separate rows/columns (A)

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Use multiple member selections on expanded data segments that are not placed in separate rows/columns

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Use single data segments only when required for formatting or calculations 2 Write efficient formulas:

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Use row/column formulas rather than cell formulas, when possible (not C)

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Use reference properties

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Use a cell reference instead of cross-axis references

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Remove unnecessary parenthesis from formulas 3 Don't limit your report to the Grid object:

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Add functions in text boxes that highlight specific areas

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Hide a grid of data in a report to highlight just the graphics 4 Create report templates:

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Leverage the power of POVs and prompting functions

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Design once using the CurrentPOV and prompting functions

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Learn the power of Grid, User, Book, and Batch POVs 5 (B) Create reusable objects and row and column templates. Text, Image, Grid, Chart objects, and row and column templates can be reused in multiple reports

Reference: O R A C L E H Y P E R I O N F I N A N C I A L R E P O R T I N G Studio, Fusion Edition, User's Guide, Recommendations for Designing Dynamic Reports

Correct Answer: A

When the dimensions in the changed database connections do not match the previous dimensions, an error message similar to the following is displayed:

1012:Report contains an invalid grid. The following dimensions could not be found: Measures The following actions occur when you open and save a report that has mismatched dimensions:

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Dimensions that existed in the old database connection but not in the new database connection are removed. The dimensions and its members that existed in the rows and or columns are removed from the grid. If, as a result of the removal, no dimension exists in the row or column, you need to add a valid dimension to the cleared row or column in order for the report to run.

*

Dimensions that exist in the new database connection but not in the old one, are added to the POV.

Reference: Changing Financial Reporting Database Connections

Correct Answer: A

Working with a data form page in Excel, you can spread, or distribute, values in several ways:

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Spread the value of a summary time period to its base time periods or to the first parent orfirst child of the parent time period

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Spread values among children and parents proportionally, based on existing distribution

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Spread values based on the weekly distribution of a quarter, which could be 4-4-5, 5-4-4, 4-5-4, or None (as set up by the budget administrator)

*

Temporarily lock the values of certain cells while spreading data over time periods Reference: Oracle Hyperion Smart View for Office, User's Guide, Spreading Data for Time Periods

Correct Answer: B

Note: Some business events have financial accounting significance and require the recording of financial information. These business events are known as accounting events and provide the data used in accounting transformations.

Examples of business events from a revenue recognition or billing system include:

Complete an invoice Record a payment Record late charges

Examples of business events from a point of sale system include:

Record an order Accept a payment Receive a return

Examples of business events from a loan (core banking) system include:

Originate a loan Fund a loan Record late charges for a loan

Correct Answer: AC

The ledger is included in the rules because you typically define approval rules per ledger. Set the options that enable journal approval at the ledger level and by journal source. This allows the approval process to determine which journals to send for approval.

Reference: Oracle Fusion Accounting Hub Implementation Guide. Approving Journals: Points to Consider

Correct Answer: E

Oracle Business Intelligence Mobile, part of Oracle Business Intelligence

Foundation Suite, provides the ability to deliver analyses, dashboards, alerts, and other BI content directly to mobile devices, enabling users to view and then take action on BI insights wherever they are.

Intelligence Mobile gives you the full spectrum of BI functionality on hoc query, OLAP analysis, dashboards and scorecards. You even have the ability to turn insight into action directly from your mobile reports and dashboards.

Reference: Oracle Business Intelligence Mobile, Data Sheet

Correct Answer: C

In order to update the intercompany calendar to use a different general ledger accounting calendar, the intercompany period status for all intercompany transaction types must either be Never Opened or Closed. Reference: Oracle Fusion Applications Financials Implementation Guide, Intercompany Calendar and Period Type