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Oracle 1Z0-211 Exam - Cheat-Test.com

Free 1Z0-211 Sample Questions:

1. Peter, the GL accountant, says that the budget for which he is trying to enter data requires budget journals, but he wants to enter budget amounts directly. You check the budget setups and confirm that the Require Budget Journal option is not enabled at the set of books level. What could be cause of Peter's problem?
A. The Budget status is Frozen.
B. Data is being entered in a closed period.
C. The budget organization is not properly defined.
D. The Require Budget Journal option is enabled at the budget level.
E. The Allow Preparer Approval profile option is not enabled.
Answer: D

2. Select the two minimum set up steps for intercompany accounting. (Choose two.)
A. Define a clearing company for all many-to-many intercompany journals.
B. Include an Intercompany segment in the chart of accounts structure.
C. Enable the Intercompany Qualifier for the Intercompany segment.
D. Enable Balance Intercompany Journal when defining the set of books.
E. Set up intercompany accounts for every journal source and journal category for intercompany transactions.
F. Set up intercompany accounts for journal source and journal category of Other.
G. Define a value set for the Company and Intercompany segments.
H. Define a journal source and a journal category for Intercompany.
Answer: D, F

3. What does the elimination program enable you to do? (Choose all that apply.)
A. eliminate average balances
B. create journal entries for all values in the source account to zero them out and post them to a target account
C. eliminate intercompany balances for fully reciprocating elimination that repeat every accounting period
Answer: B

4. Your client wants the ability to report with Financial Statements Generator (FSG) and perform account inquiry at the summary (business unit) level of its Cost Center segment. A business unit is a group of cost centers and a business unit manager typically has several cost centers under his or her responsibility. Which option will meet the client's requirements?
A. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers, and Summary Accounts. Create FSG based on the parent cost center values or Summary Accounts.
B. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers. Create FSG based on the Rollup Groups.
C. Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers. Create FSG based on the parent cost center values.
D. Define parent cost centers and a hierarchy of parent-child cost centers. Create Summary Accounts based on the parent cost centers. Create FSG based on the parent cost center values.
E. Define parent cost centers and a hierarchy of parent-child cost centers. Define Summary Accounts for the parent cost centers. Create FSG based on the parent cost center values or Summary Accounts.
Answer: A

5. You are implementing Oracle General Ledger at a client site. The client is based in the US but has a presence in many countries worldwide, and has transactions in multiple currencies. The implementation team decides that GL multicurrency setup will be part of the implementation. The Controller wants a system which allows the flexibility to enter transactions in any foreign currency, and at the same time automatically performs currency conversion online and in real time. She wants to know whether this requirement could be satisfied. What is the correct response?
A. Oracle GL does not support this functionality.
B. Workflow needs to be customized for journals to be entered in foreign currency.
C. Account generator needs to be customized for journals to be entered in foreign currency.
D. Oracle GL provides this functionality and there is no problem in satisfying the requirement.
Answer: D

6. Which reports would be appropriate as part of a financial month-end close? (Choose all that apply.)
A. Account Analysis
B. Trial Balance - Detail
C. Other - Calendar Validation Report
D. Currency - Daily Conversion Rates Listing
F. Chart of Accounts - Segment Values Listing
Answer: A, B

7. ABC Company wants to compare actual amounts against their budgeted amounts. Which reporting or query options would provide that detail? (Choose two.)
A. Trial Balance
B. Account Analysis
C. On-line Budget Inquiry
D. On-line Account Inquiry
E. Financial Statement Generator
Answer: D, E

8. CW Inc. has many business units set up as company values in the Company (Balancing) segment for three sets of books: Canada, U.S. and Brazil. The sets of books share a common chart of accounts (COA) structure. The COA structure also has an Intercompany segment (with Intercompany Qualifier) that uses the same value set as the Company segment. Which three options will best use GL Intercompany functionality, given the multiple sets of books that share a common COA? (Choose three.)
A. Enable the Balance Intercompany Journal option when defining each set of books.
B. Enable security for the Company segment, and define appropriate security rules, and assign them to the responsibility for each set of books.
C. Enable the profile option that automatically creates intercompany accounting across sets of books.
D. Create a clearing company for each set of books to handle many-to-many intercompany accounting in each set of books.
F. Enable security for the Company and Intercompany segments, and define appropriate security rules, and assign them to the responsibility for each set of books.
Answer: A, B, D

9. Peter, the GL accountant, comes to you and says that he has defined the budget, and budget amounts have been entered and approved by management. After approval he wants his assistant accountants to NOT be able to update this budget. What is your response?
A. Oracle GL budget functionality cannot satisfy this requirement.
B. If the client wants to do this, then the budget status should be Frozen.
C. If the client wants to do this, then the budget status should be Current.
D. If the client wants to do this, then customization of workflow is the only option.
Answer: B

10. The Treeline Company is getting ready to complete its month-end process. It needs to create a profit and loss statement and it wants to use the Financial Statement Generator feature to create the report. Which two elements are required to create the report? (Choose two.)
A. Row Set
B. Report Set
C. Workbook
D. Column Set
E. Content Set
Answer: A, D


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