Free 1Z0-216 Questions for Oracle EBS R12: General Ledger and Receivables Fundamentals 1Z0-216 Exam as PDF & Practice Test Engine
Identify two correct statements about the consolidation feature of Oracle General Ledger. (Choose two.)
Correct Answer: C,D
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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.)
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.)
Correct Answer: A,D
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Your manager has asked you to create a period close process that maximizes the efficiency of your two staff members and minimizes the number of closing days. Identify two sets of subledgers that can be closed concurrently. (Choose two.)
Correct Answer: B,D
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ABC Enterprise closes its books on March 31st. These activities have been identified to be performed for the closure of books. 1) post 2) translate 3) review 4) consolidate 5) revalue 6) run accounting reports 7) close accounting period In which order must these activities be performed?
Correct Answer: A
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ABC Corporation is a national company with five divisions that share the same ledger. Select the statement that best describes the consolidation process for ABC Corporation.
Correct Answer: D
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Which is the correct sequence of steps in planning your summary accounts?
(1)
planning the summary account structure
(2)
planning the parent segment values and rollup groups needed for summary accounts
(3)
determining summary account needs
(4)
planning summary account templates to generate multiple summary accounts
(1)
planning the summary account structure
(2)
planning the parent segment values and rollup groups needed for summary accounts
(3)
determining summary account needs
(4)
planning summary account templates to generate multiple summary accounts
Correct Answer: B
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Which relationship group would you assign to allow each party to pay for its own transactions, as well as the transactions of all parties that are lower in the hierarchy (children, grandchildren, and so on)?
Correct Answer: C
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You have just opened the Transactions form. Which field would you see on this form?
Correct Answer: D
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