GL – Chart of Accounts – Certification MCQs – Portal

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Question 1 of 4

1. Question

Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries. What is Oracle’s recommended practice when implementing a new chart of accounts? How many segments and what segment qualifiers should be used?

Define three segments for the company, department, and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.

Define four segments for the company, department, natural account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, and intercompany segment, respectively.

Define three segments for the company, department, and natural account. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, respectively.

Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.

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Question 2 of 4

2. Question

Which three objectives must be considered when designing the chart of accounts? (Choose three.)

Anticipate growth and maintenance needs as organizational changes occur

Effectively manage an organization’s financial business

Try to use all 30 segments and 25 characters per segment because you cannot change it later

Consider implementing a single, global chart of accounts

Limit the number of segments to those you need today to reduce data entry

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Question 3 of 4

3. Question

Your customer wants to create fully balanced balance sheets for the Company, Line of Business, and Product segments for both financial and management reporting.
What is Oracle’s recommended method for doing this?

Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions

Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting

Create three segments for the Company, Line of Business, and Product segments and qualify them as primary balancing segment, second, and third balancing segments, respectively

Create two segments where the first segment represents the concatenation of Company and Line of Business, and then enable secondary tracking for the Product segment

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Question 4 of 4

4. Question

During implementation, a consultant accidentally designated the cost center segment as the natural account. Values have already been assigned and journals have been posted.
Select the process that allows you to change the qualifier back to cost center qualifier.

Create a new chart of accounts.

Delete the segment and create a new segment with the correct qualifier.

Change and save the segment qualifier.

Delete the chart of accounts and create a new one.

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GL – Chart of Accounts – Certification MCQs

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