Question 1

Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)

Options :

A : You can only drill down to the general ledger journal and then from there to the subledger journal entry.

B : This report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.

C : This report displays only the reconciled transactions. You need to further process automatic reconciliation to reconcile the unreconciled transactions

D : This report includes Ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not

E : This report displays the intercompany receivables and intercompany payables balances in summary for a period.

Answer: A,B

Question 2

Your company has a legal entity in the UK, US, and CanadA. They can all share the same chart of accounts

but are required to transact and report in their local currency.

What is the minimum number of ledgers you need and why?

Options :

A : One, because they can all share the same chart of accounts

B : Three, because each requires a different currency

C : Two, because the US and Canada can share the same ledger because they are in North America

D :

Four, because the UK has statutory requirements and you will need a separate ledger for statutory reporting

Answer: B

Question 3

You are creating values for the chart of account value set that you are planning to use for the account segment

within your Chart of Accounts.

You are not able to assign an Account Type. What is the reason for this?

Options :

A :

The Account Type qualifier has not been enabled when defining the value set.

B :

You have not set the Allow Budgeting attribute for the value set.

C :

You are creating values before assigning the value set to the structure.

D :

You have not set the Allow Posting attribute for the value set.

Answer: A

Question 4

When constructing a new chart of accounts instances, it has been decided to control the list of values within certain segments, with the use of related value sets. When defining new related value sets, which three configuration steps should be considered?

Options :

A : Link two value sets together

B : Use independent validation type value sets only

C : Order of the segments determines filtering sequence

D : Use table validated type value sets only

E : Link multiple value sets together

F : Order of the segments does not determine filtering sequence.

Answer: A,B,C

Question 5

When will Intercompany processing balance a journal using the accounts identified here for the UK Ledger?

Options :

A : when there is a many-to-many journal and you want to use a clearing company

B : when the journal is not balanced by the primary balancing segment value (BSV)

C : when the journal is balanced by the primary BSV but not by second or third BSV

D : when the journal is balanced by second balancing segment value

Answer: C

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