QUESTION: 33 Topic: 1

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.)

Posting of the consolidation journals may have failed.
He forgot to add the prior periods consolidation in the current period.
Manual adjustment needed after every consolidation was not performed.
John may not have reversed the prior periods consolidation in the current period.

Answer(s): A,D

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QUESTION: 34 Topic: 1

Select two restrictions that apply to consolidating budget balances. (Choose two.)

If the source and target budgets share the same calendar, you must consolidate a specific period to a specific period.
If the source and target budgets share the same start period, you must consolidate a specific period to a specific period.
If the source and target budgets do not share the same ledger, you must consolidate a specific period to a specific period.
If the source and target budgets do not share the same calendar, you must consolidate a specific period to a specific period.
If the source and target budgets do not share the same start period, you must consolidate a specific period to a specific period.

Answer(s): D,E

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QUESTION: 35 Topic: 1

Select three statements that apply to the Global Consolidation System (GCS). (Choose three.)

It consolidates data from the legacy feeder system.
This system creates consolidated journal entries in both the parent and subsidiary sets of books.
GCS automatically generates journal entries to eliminate intercompany balances based on defined rules.
It performs multidimensional analysis of consolidated financial data by using Oracle Enterprise Planning and Budgeting.

Answer(s): A,C,D

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