1Z0-408 Online Practice Questions and Answers

Invoices received from a source system need to use a specific account based on 30 different expense

types. However, if the invoice is from a specific supplier type, it needs to go to a default account regardless

of the account type.

What is the solution?

A. Create two journal line rules with a condition of supplier type.

B. Create an Account Rule with 31 rule elements using one condition for each expense type and another for supplier type.

C. Create an Account Rule with two rule elements using one for expense type mapping and the other for the condition of supplier type.

D. Create an Account Rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other without any conditions.

Your customer requires physical invoices to be generated in Fusion Payables and Fusion Receivables for the intercompany payables and receivables transactions.

What statement is correct with regard to setting this up?

A. You must assign the corresponding Receivables and Payables Business Units.

B. You only need to assign the Legal Entity and Organization Contact.

C. You must perform additional setup steps for Fusion Payables and Fusion Receivables.

D. You can only associate one Intercompany Organization per Legal Entity.

Most of the accounting entries for transactions from your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.

At what level can you override the default accounting attribute assignment?

A. Event Type

B. Journal Line Rule

C. Event Class

D. Journal Entry Rule Set

E. Journal Entry

Your customer has many eliminating entries to eliminate intercompany balances. The General Ledge does not include a purpose-built Consolidation feature.

How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?

A. Use the spreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period.

B. Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period.

C. There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management.

D. Create a manual journal that includes the eliminating entries, and then create a copy of the Journal batch every period.

Your foreign currency transactions need to be revalued every month. For balance sheet accounts, you reverse the revaluation journals in the next period. You are using the period-to-date (PTD) method of revaluation tor your income statement accounts.

When should you reverse revaluation journals, if at all required?

A. Reverse them in the same period as the revaluation run.

B. Both balance sheet and income statement revaluation journals should be reversed in the period.

C. Never, because each period's revaluation adjustment is just for that period.

D. The reversals must be done at the end of each quarter.

Which two statements are true regarding how Intercompany Balancing Rule, are defied?

A. All ledgers engaged in an intercompany transaction must share the same chart: of accounts in order to define balancing rules

B. You can only define balancing rules for different journals' sources. You cannot define balancing rules for different journal categories.

C. You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types

D. You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment value.

Which two types of journals can be automatically routed through the journal approval process?

A. Allocation journals

B. Revaluation journals

C. Manual journals

D. Sub ledger journals

E. Journals imported from third-party systems

Your new accountants have been making mistakes in reconciling accounts assigned to them.

Yourbalances have either spiked or dropped 30-40% every period due to human error. This causes delays

in reconciliation.

What feature can you use to be proactively notified of account anomalies in a more timelymanner?

A. Smart View

B. Financial Reports with Embedded charts

C. Account Monitor

D. Account Inspector and its charts

You want to prevent intercompany transactions from being entered during the last day of the close. What should you do?

A. Close all subledger periods.

B. Close Intercompany periods in Fusion Intercompany.

C. Freeze the Intercompany Journal source in General Ledger.

D. Close the General Ledger period in the Manage Accounting Periods page.

Your user forgot the password. How do you resolve this?

A. Use the Manage Users page to update the user's information and change the password.

B. Use Oracle Identity Management (OIM) to reset the user's password.

C. Log in to the user's machine as an Administrator and change the password from the login pa

D. Use Access Policy Manager (APM) to reset the user's password.

E. Create a new user ID and password for the user.

Your customer wants to have balance sheets and income statements for their cost center and program segments. That is, they want to have three balancing segments.

Which two recommendations would you give your customer?

A. When entering journals manually, the customer will need to make sure that the debits and credits are equal across all balancing segments because the system will not automatically balance the journal.

B. Every journal where debits do not equal credits across the three balancing segments will result in the System generating extra journal lines to balance the entry.

C. Additional intercompany rules will need to be defined for the two additional balancing segments.

D. Ledger balancing rules will need to be defined to instruct the system on how to generate balancing entries for the second and third balancing segments.

Your customer is expanding its operations. You defined a new ledger and several business units. However, you are unable to assign the newly generated data roles to existing Accounts Payables and Accounts Receivables users in the shared service center.

What should you do to correct the problem?

A. Open the Oracle Identity Management (OIM) and make sure the data roles were created.

B. Open the Manage Users page and make sure the employees at

C. Open Access Policy Manager (APM) and assign the roles manually

D. Make sure you run the Retrieve Latest LDAP Changes program to regenerate the data roles.

Journal approval uses Approvals Management Extension (AMX). Which AMX builder method is most effective in routing the journals to the Accounting Manager when the General Ledger Accountant enters the journal?

A. Supervisory level based on HR Supervisors

B. Job level

C. Position

D. Approval Group

While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created. Which two options explain that?

A. The Account Rule is defined with a different chart of accounts from the Journal Entry Rule Set.

B. The Account Rule's chartof accounts have no account values assigned

C. The Account Rule's conditions are not defined.

D. The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set.

Which two are prerequisites for creating subledger accounting entries?

A. Completing accounting transformation definition and activating Subledger Journal Entry Rule Set assignments for the Accounting Method

B. Populating supporting reference information in reference objects

C. Selecting source values from transaction objects

D. Creating subledger accounting events

E. Completing preaccounting validation