Sample Questions:

ABC Enterprise has operations in the US, France, and Italy. The US, France, and Italy operations have separate legal and statutory requirements. The tax requirements also differ for each country. Identify the action you would perform to set up Oracle General Ledger.

Create a separate legal entity and accounting setup for each operation

Create one legal entity and three accounting setups for the US, France, and Italy.

Create three legal entities for the US, France, and Italy, and one accounting setup.

Create three legal entities for each operation. Create one accounting setup for France and Italy, and one for the US.

Create two legal entities: one for France and Italy, and one for the US.

Create two accounting setups: one for France and Italy, and one for the US.

XYZ Company is implementing Oracle at its headquarters in the US. It has operations in Australia, the UK, and China. The Australian and the US operations can share the same chart of accounts segments, and the UK and China operations can share the same chart of accounts segments. All operations share the same calendar or period-type combination, but not the currency. Each country requires that a separate accounting data be maintained. Identify the number of legal entities to be created and the number of accounting setups.

Create one legal entity and four accounting setups.

Create four legal entities and one accounting setup

Create two legal entities and four accounting setups.

Create four legal entities and four accounting setups.

ABC Enterprises has operations in the UK, France, the US (West), and the US (East). The US (West) has budgetary control enabled and the US (East) requires approvals for journals. All operations share the same chart of accounts, accounting calendar, and subledger accounting method. The US (West) and the US (East) operate on the USD currency. The UK's currency is GBP, whereas France operates on the EUR currency. Identify the least number of legal entities and accounting setups to be created

1 legal entity and 4 accounting setups

4 legal entities and 1 accounting setup

3 legal entities and 3 accounting setups

4 legal entities and 4 accounting setups

Select three criteria that are required to assign multiple legal entities to the same accounting setup. (Choose three.)

have similar ledger processing options

open and close periods simultaneously

have tax requirements that are specific for a legal entity

require autonomous document sequencing for a legal entity

operate in a country that allows multiple legal entities to share the same primary ledger and ledger attributes

The accounting setup process in Oracle General Ledger consists of three main steps. (Choose three.)

Update accounting options.

Approve accounting options.

Complete the accounting setup.

Create an accounting setup structure.