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2016 Sep 1Z0-508 Study Guide Questions:

Q21. Which three rule types are used to build an account rule? 

A. Account Combination 

B. Segment 

C. Value Set 

D. Mapping Set 

E. System Transaction Identifiers 

Answer: B,C,D 

Explanation: B: Account Rules by Segment Define segment rules to derive a specific segment of the general ledger account. 

C: Account Rules by Value Sets In the absence of a chart of accounts, you may define account rules based upon value sets. This enables you to share the same rule between more than one chart of accounts if the segments in these charts of accounts share the same value set. 

D: Account Rules and Mapping Sets 

Mapping sets can be used to associate a specific output value for an account or segment. You can use mapping sets in account rules to build the account. 

Reference: Fusion Applications Help, Account Rules: Explained 

Q22. Fusion Accounting Hub includes Hyperion Data Management, which can be used for_______________. 

A. Chart of Accounts Hierarchy maintenance 

B. the maintenance of Trading Community Data 

C. Chart of Accounts Master Data maintenance 

D. data access and security 

E. data modeling 

Answer: C 

Explanation: Oracle Fusion Accounting Hub is integrated with Oracle Hyperion Data Relationship Management, Fusion Edition, which is a master data management solution for creating and maintaining hierarchies across your enterprise. This integration allows you to maintain your charts of accounts values and hierarchies in one central location, and then to synchronize your hierarchies in Oracle Fusion and E-Business Suite General Ledgers. With licensing and integration of Data Relationship Management, you can: 

* Update and change Data Relationship Management versions and hierarchies. The results of these changes are exported to the values sets in the Oracle Fusion and E-Business Suite General Ledgers, E-Business Suite parent child hierarchies, and Oracle Fusion Trees. 

* Synchronize charts of accounts and hierarchies across multiple Oracle general ledger instances. 

* Store segment value attributes, such as account type, start date, and end date, providing the ability to enter such values in Data Relationship Management and integrate them to Oracle Fusion and E-Business Suite General Ledgers. 

* Submit standardized E-Business Suite Standard Request Submission and Oracle Fusion Enterprise Schedule Service requests from both the E-Business Suite and the Oracle Fusion General Ledgers to import values from Data Relationship Management. 

Reference: Oracle Fusion Accounting Hub Implementation Guide 11g, Integration with Hyperion Data Management 

Q23. Journal approval in Oracle Fusion Applications uses Oracle Fusion Approvals Management (AMX) to build approvals. Which AMX builder method is most effective when the General Accountant enters the journals for approval? 

A. Human Resources (HK) Supervisory 

B. Job level 

C. Position 

D. Approval Group 

Answer: A 

Explanation: Human Resources (HK) Supervisory This method uses the HR Supervisory hierarchy levels and specifies the number of levels available for approval. This method is most effective when the General Accountant enters the journals. For example, if an accountant enters a journal, he needs approval from his manager. If his manager enters a journal he needs approval from his manager and so on up the hierarchy for the specified number of levels. Self approval can be set at any levels in the hierarchy. 

Note: Journal approval in Oracle Fusion applications uses Oracle Fusion Approvals Management (AMX) to merge the functionality of Oracle Approvals Management (AME) and PeopleSoft Approvals (AWE). 

Reference: Oracle Fusion Applications Financials Implementation Guide, AMX List Builder Considerations 

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Q24. Which method will reverse accruals in the next accounting period? 

A. Create two events, one for accrual and another for the reversal. 

B. Create one entry and use Accrual Reversal GL Date. 

C. Create one event and use the Accounting Reversal attribute. 

D. Create one event and use the GL functionality to perform the reversal. 

Answer: B 

Explanation: The Accrual Reversal GL Date accounting attribute is relevant to applications using the accrual reversal feature. 

When the accrual reversal GL date accounting attribute returns a value, the Create Accounting program generates an entry that reverses the accrual entry. 

Note: 

* If an invoice is not entered by period end, the Receipt Accruals – Period End process will generate accruals and transfer the accounting for them to the GL Interface. Use the Journal Import program to create unposted journals. This journal is created with a reversal date in a subsequent period. The journal must be reversed so your receipt liability is not overstated. 

Reference: Oracle Financial Services Accounting Hub Implementation Guide, GL Date Accounting Attributes 

Q25. When you use allocations, revaluation, or translation to define and maintain your period close component, which three tasks should you perform under the Define Period Close Components parent task in your implementation project? 

A. Manage Allocations and Period Entries. 

B. Manage Revaluations. 

C. Manage General Accounting Dashboard. 

D. Manage Historical Rates. 

E. Manage intercompany Settlements. 

Answer: A,B,D 

Explanation: If you use allocations, revaluation, or translation, configure the following tasks under the Define Period Close Components parent task in your implementation project: 

Manage Allocations and Period Entries Manage Revaluations Manage Historical Rates 

Reference: Oracle Fusion Accounting Hub Implementation Guide, Period Close Components: Explained 

Q26. Which task is NOT allowed when spreading data for time periods in Microsoft Excel? 

A. spreading data in a summary time period that includes members and mixed currency types 

B. spreading the value of a summary time period to its base time periods or to the first parent or first child of the parent time period 

C. spreading values among children and parents proportionally, based on existing distribution 

D. spreading values based on weekly distribution of a quarter, which could be 4-4-5, 5-4-4, or none 

E. temporarily locking the values of certain cells while spreading data over time periods 

Answer: A 

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

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

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

* 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 

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Q27. Identify two correct behaviors of conditional suppression of rows and columns. 

A. If an entire row or column meets the criteria specified for conditional suppression, the entire row or column is hidden. 

B. When the Hide Always chock box is selected for a row or column, you can ignore the values and calculations in hidden rows and columns. 

C. If only some of the cells in a row or column meet the criteria specified for conditional suppression, the row or column is hidden. 

D. The calculation does NOT consider suppressed rows. 

Answer: A,B 

Explanation: A: If an entire row or column meets the criteria specified for conditional suppression, the entire row or column is hidden. 

B: When evaluating suppression, you can include or ignore the values and calculations in hidden rows and columns. This option is enabled only when the Hide Always check box is selected for the row or column. 

Reference: Behavior of Conditional Suppression 

Q28. Oracle Business Intelligence Enterprise Edition available through iPhone and iPad devices. Which three BI EE object content are visible through a mobile device? 

A. Analysis, including analytic actions 

B. Tables, excluding drilling 

C. Action 

D. Scorecard, including analytic actions 

E. Briefing book, limited to alerts visible in the Alerts list 

Answer: A,C,D 

Explanation: 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 

Q29. XYZ Company has two departments: Marketing and Finance. The Finance Department has two Functional divisions: receivables and payables. Select the flow for establishing hierarchy. 

A. Hierarchy between functional divisions only 

B. Hierarchy between departments only 

C. Hierarchy between the organization and its departments, and between the departments and their respective functional divisions 

D. hierarchy between the organization and its departments and functional divisions only 

Answer: C 

Explanation: 

Q30. Identify the set up that needs to be completed before you can use cubes. 

A. Microsoft Office 

B. Ledger 

C. FSG 

D. Report Builder 

Answer: B 

Explanation: Fusion Accounting Hub leverages the Fusion General Ledger. The Fusion General Ledger combines traditional general ledger functionality with Oracle Essbase functionality, which is seamlessly embedded within the Fusion General Ledger. For example, at the time users create their chart of accounts, the Oracle Essbase cube is created. 

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