Oracle Apps Finance Functional MCQ
This Oracle Apps Finance Functional MCQ Quiz contains few questions as a free online practice test.
1. A client wants to configure Oracle AP to perform prepayments for matched invoices. You have been hired as the implementation consultant and have been given the assignment. To complete this assignment, choose the option that applies.
a) Set up the prepayment terms.
b) Enable Allow prepayments in the Financial Options form.
c) Enable the Oracle Payables Enable Prepayments profile option.
d) No additional configuration is required. Users must set up the prepayment when the invoice is created.
e) No additional configuration is required. Users must set up the prepayment when the payment is created.
2. A clerk from ABC Inc. receives a customer receipt that does not have sufficient Information to identify the customer or invoice. Which is the correct method of entering the receipt In Oracle Accounts Receivable?
a) Enter the receipt as an unapplied receipt.
b) Enter the receipt as an unidentified receipt.
c) Enter the receipt as an on-account receipt.
d) Enter the receipt as a miscellaneous receipt.
e) Enter the receipt by applying it to a dummy customer account.
3. ABC Corp. has set up the Asset Category Key Flexfield. It has also set up a Descriptive Flexfield to store vehicle Information associated with the asset category Vehicle. Identify two
correct statements
A. The setting up of the Descriptive Flexfield is mandatory.
B.The Asset Category Flexfield is owned by the Oracle Assets module.
C.The Descriptive Flexfield attributes are associated with tables in the Oracle Assets module.
D. Only the Asset Category Key Flexfield is associated with tables In the Oracle Assets module.
a) A,B
b) B,C
c) C,D
d) D,A
4. A General Ledger user at ABC.com opens the account inquiry screen, chooses a line item, and
wants to drill down to Sub-ledger and find out more details about an Accounts Payable invoice.The user is unable to drill down. What is the likely explanation for this?
A. Journal source was not set up to import Oracle Apps Finance Functional L1 references.
B. Journal entry was not posted.
C. Drilldown was option not added to responsibility.
D. Journal import was not done.
E. Journal category was improperly setup.
a) A,C
b) B,C
c) C,D
d) D,E
e) B,E
5. A Ledger is a financial reporting entity. What is new in Oracle E-Business Suite Release 12 that
facilitates generation of accounting entries?
a) Ledger
b) Chart of Accounts
c) Multi-Org Structure
d) Accounting Convention
e) Financial Accounting Calendar
