1Z0-508 Exam Questions & Answers

Correct Answer: B

Note:

*intercompany reconciliation provides you with reports to assist you with reconciling your intercompany receivables and intercompany payables accounts, and to identify any differences.

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Oracle Fusion Financials expedites the reconciliation process with interactive reconciliation reports that compare open receivables and open payables balances to the corresponding balances in Fusion General Ledger. If differences exist, it performs the labor-intensive process of matching each transaction to its respective accounting entry and automatically finds all transactions and accounting entries that contribute to the out-of-balance situation.

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The Accrual Reconciliation Report is used to analyse un-invoiced receipts and to reconcile the balance of the Accounts Payable accrual accounts.

This report enables you to identify the following problems in receiving, purchasing, inventory, work in process, or accounts payable transactions:

Reference: Oracle Fusion Applications Financial Control and Reporting, Accounting Transactions, Tax Transactions, and Reporting Guide, Intercompany, Reconciliation: Explained

Correct Answer: B

Note: Ledger Processing Options If there are legal entities that require any one of the below ledger processing options to be different, then define a separate primary ledger for each legal entity and therefore, a new accounting setup

Ledger Processing Options are defined at the ledger level and refer to the following options that control how journals and transactions are processed for that ledger:

First Ever Opened Period

Number of Future Enterable Periods

Retained Earnings Account

Subledger Accounting Options, such as the subledger accounting method, journal description language, entered currency balancing account, cash basis accounting, and the ledger currency balancing account

Option to track balances using a secondary segment Suspense Account Rounding Differences Tracking Account

Intracompany Balancing option Journal Approval Journal Entry Tax Journal Reversal Criteria Set Default Period End Rate Type Default Period Average Rate Type Cumulative Translation Adjustment Account Journal Reconciliation Budgetary Control Reserve for Encumbrance Account Average Balance Processing Average Balance Consolidation Net Income Account Transaction Calendar Reference: Oracle Financials Implementation Guide , Overview of Accounting Setups

Correct Answer: ADE

The FRExecute function syntax:

FRExecute(ReportName[Type={1,2};ComponentType={1,2};ComponentName={Grid1,Grid2,Chart

1,Chart2,Chart3};Page={1,2,..;.}Cell=FRFormula}

where:

ReportName is the name of the report.

Type1 is a dynamic report and Type2 is a Snapshot report.

ComponentType1 (optional) is a grid and ComponentType2 (optional) is a chart.

ComponenentName (optional) is the grid or chart name.

Page (optional) is the page number.

Cell (optional) is the date cell formula. The cell syntax is cell=cell[row,col], or cell=[row,col]

Note: The FRExecute function enables you to embed a Financial Reporting report or report section into a Microsoft Word document. You can include a report, a report type (dynamic orsnapshot), or specify selected areas in the report such as

a grid, chart, page, text box, text area, or cell.

Reference: FRExecute Syntax