QUESTION: 5 Topic: 1

Which two statements are true about the reporting currency in Oracle General Ledger? (Choose two.)

It is an integrated extension of a ledger.
It replaces multiple reporting currencies.
Reporting currencies are the same as secondary ledgers.
Reporting currencies cannot have the same chart of accounts, accounting method, and ledger processing options.

Answer(s): A,B

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QUESTION: 6 Topic: 1

Which three activities would use summary accounts? (Choose three.)

creating a monthly recurring standard journal entry to amortize goodwill
allocating the total monthly costs of the Information Services department to other departments
estimating a sales commission accrual based on the total of all product sales for each division
formulating a budget for employee benefits in each company based on the total of all budgeted employee salaries

Answer(s): B,C,D

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The companys two senior executives have different budget figures. They want Peter, the GL accountant, to prepare two current budgets in Oracle Financials and submit budgets to both of them. What would be your response?

It is not possible to have more than one current budget.
Whether you can have multiple current budgets depends on the budget organization.
The Require Budget Journal profile option must be set at the budget level if you want to have multiple current budgets.
The Require Budget Journal profile option must be set at the set of books level if you want to have multiple current budgets.
The Oracle General Ledger budget functionality supports multiple current budgets, so there is no problem in satisfying this requirement.

Answer(s): A

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