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Oracle Cloud GL study materials
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Oracle Cloud GL practice questions

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Question 1Oracle Cloud GL Fundamentals

In Oracle Cloud General Ledger, which component holds the chart of accounts, accounting calendar, and ledger currency that together define a primary ledger?

  1. A journal source that determines which subledgers can post entries to the ledger
  2. A balancing segment value that must be assigned to every journal line
  3. A ledger configuration that combines a chart of accounts, an accounting calendar, and a currency Correct answer.
  4. A reporting currency that converts balances for statutory reporting only

Explanation

A primary ledger is defined by three components: the chart of accounts, the accounting calendar, and the ledger currency. These three together determine how transactions are accounted and stored. Journal sources and balancing segment values are separate objects used within that structure.

Question 2Oracle Cloud GL Fundamentals

A company needs to maintain a second set of books in a different currency using the same chart of accounts and calendar as its primary ledger. Which Oracle Cloud GL setup should the implementer use?

  1. A separate primary ledger with a new chart of accounts
  2. An additional balancing segment value in the existing chart of accounts
  3. A secondary ledger assigned to the primary ledger with a different ledger currency Correct answer.
  4. A reporting currency assigned directly to the primary ledger

Explanation

A secondary ledger shares the chart of accounts and calendar but can use a different currency, and it is attached to a primary ledger. This lets the organization keep a statutory or corporate book alongside the main ledger. Creating a new primary ledger would require a separate chart of accounts and calendar structure.

Question 3Oracle Cloud GL Fundamentals

What is the purpose of the accounting calendar in Oracle Cloud General Ledger?

  1. It defines the approval hierarchy for journal entries
  2. It defines the exchange rates used to convert foreign currency transactions
  3. It defines the accounting periods into which transactions are recorded and closed Correct answer.
  4. It defines which users may post journals to the ledger

Explanation

The accounting calendar divides the fiscal year into periods, and every journal must belong to an open period. Period status controls whether posting and closing are allowed. Exchange rates, approvals, and user security are configured through other features.

Question 4Oracle Cloud GL Fundamentals

An accountant must prevent any further journal posting into a period while still allowing the period to be reopened later if needed. Which period status should be applied?

  1. Closed Correct answer.
  2. Open
  3. Permanently Closed
  4. Never Opened

Explanation

The Closed status blocks new journal entry and posting into the period but can later be reopened. Permanently Closed prevents reopening and is used only when no further activity is expected. Open and Never Opened both allow or precede activity rather than blocking it.

Question 5Oracle Cloud GL Fundamentals

Which journal entry status indicates that a journal has been validated and posted to the ledger balances?

  1. Invalid
  2. Entered
  3. Unposted
  4. Posted Correct answer.

Explanation

A journal moves from Entered to Unposted after validation, and then to Posted once it updates the account balances. Only posted journals affect the ledger balances. Entered and Invalid journals have not yet updated balances.

Question 6Oracle Cloud GL Fundamentals

A journal entry must be created so that total debits equal total credits before it can be posted. Which control enforces this requirement in Oracle Cloud GL?

  1. The journal is rejected only if the difference exceeds a configurable tolerance
  2. The journal is posted and the difference is allocated across balancing segments
  3. The journal is required to balance, and posting is blocked when debits and credits differ Correct answer.
  4. The journal is posted and the difference is written to a suspense account automatically

Explanation

Oracle Cloud GL requires journals to balance before posting; an out-of-balance journal cannot be posted. There is no automatic suspense or tolerance-based posting for an unbalanced journal. Balancing is a fundamental accounting control in the ledger.

Question 7Oracle Cloud GL Fundamentals

In a chart of accounts, which segment is used to enforce balancing and to identify the legal entity or cost center whose balances must net to zero?

  1. Cost center segment
  2. Management segment
  3. Balancing segment Correct answer.
  4. Natural account segment

Explanation

The balancing segment is the segment for which debits and credits must balance within each journal. It typically represents a legal entity or a business unit. The natural account segment classifies the nature of the account, such as assets or expenses.

Question 8Oracle Cloud GL Fundamentals

Which statement correctly describes the natural account segment in the chart of accounts?

  1. It determines the period in which the journal is posted
  2. It determines the account type, such as asset, liability, revenue, or expense Correct answer.
  3. It determines which legal entity owns the transaction
  4. It determines the currency in which the journal is entered

Explanation

The natural account segment carries the account type, which drives financial statement placement and account behavior. Legal entity ownership, currency, and period are determined by other segments or journal attributes. The natural account is therefore central to reporting structure.

Question 9Oracle Cloud GL Fundamentals

A journal is entered in a currency other than the ledger currency. What does Oracle Cloud GL do to record the accounting impact in the ledger currency?

  1. It converts the entered amounts using the applicable currency rate to produce ledger currency amounts Correct answer.
  2. It stores only the entered currency amounts and converts them at period end
  3. It rejects the journal unless the ledger currency is also entered manually
  4. It posts the entered amounts directly without conversion

Explanation

When a journal is entered in a foreign currency, the system converts the amounts to the ledger currency using the appropriate rate. Both entered and converted amounts are stored. Manual entry of the ledger currency amount is not required, and conversion is not deferred to period end.

Question 10Oracle Cloud GL Fundamentals

Which rate type is typically used to convert foreign currency journal amounts into the ledger currency for day-to-day accounting entries?

  1. The closing rate applied to all revenue accounts
  2. The budget rate used for planning only
  3. A daily or spot rate type configured for the ledger Correct answer.
  4. The historical rate used when the account was first created

Explanation

Day-to-day journal conversion generally uses a daily or spot rate type that reflects the rate on the transaction or journal date. Historical rates apply to specific non-monetary balances, and budget rates are used for planning. Closing rates are relevant to period-end revaluation, not routine journal entry.

Question 11Oracle Cloud GL Fundamentals

What is the primary function of the Journal Approval workflow in Oracle Cloud GL?

  1. It routes journals to designated approvers before they can be posted Correct answer.
  2. It validates that debits equal credits before posting
  3. It closes accounting periods automatically at month end
  4. It converts foreign currency amounts into the ledger currency

Explanation

The Journal Approval workflow routes submitted journals to approvers according to configured rules before posting. Balancing validation and currency conversion are separate system functions. Period closing is a controlled accounting process, not an approval workflow outcome.

Question 12Oracle Cloud GL Fundamentals

An accountant wants to reverse an accrual journal automatically in the next period. Which Oracle Cloud GL feature supports this?

  1. Create a copy of the journal manually in the next period
  2. Use a recurring journal with no end date
  3. Post the journal twice with opposite signs in the same period
  4. Define the journal with an automatic reversal and a reversal period Correct answer.

Explanation

Oracle Cloud GL allows a journal to be flagged for automatic reversal, specifying the reversal period and method. The system generates the reversing entry without manual duplication. Copying manually or posting twice in the same period does not achieve the intended next-period reversal.

Question 13Oracle Cloud GL Fundamentals

What is the purpose of a recurring journal in Oracle Cloud GL?

  1. It generates the same journal entry on a defined schedule across multiple periods Correct answer.
  2. It reverses an accrual in the following period automatically
  3. It revalues foreign currency balances at period end
  4. It consolidates multiple ledgers into one reporting ledger

Explanation

A recurring journal uses a template to create the same entry on a defined schedule, such as monthly rent. It reduces manual re-entry of predictable journals. Reversal, revaluation, and consolidation are separate features.

Question 14Oracle Cloud GL Fundamentals

Which allocation feature in Oracle Cloud GL distributes costs from a source pool to target accounts using a defined basis?

  1. Journal approval rules that route entries to approvers
  2. Recurring journal templates that repeat a fixed entry
  3. Allocation rules that define a pool, a basis, and target accounts Correct answer.
  4. Period close checklists that track closing tasks

Explanation

Allocation rules distribute pooled costs to targets using a defined basis, such as headcount or revenue. They are used for cost allocation across departments or segments. Recurring journals repeat fixed entries, while approval rules and close checklists serve different purposes.

Question 15Oracle Cloud GL Fundamentals

What does the revaluation process in Oracle Cloud GL accomplish?

  1. It closes revenue accounts into retained earnings
  2. It converts budget amounts into actual amounts
  3. It restates foreign currency balances in the ledger currency using a current rate Correct answer.
  4. It reverses all accrual journals in the period

Explanation

Revaluation adjusts balances held in foreign currencies to reflect a current exchange rate, creating unrealized gain or loss entries. It applies to monetary balances denominated in a currency other than the ledger currency. Closing revenue and reversing accruals are separate processes.

Question 16Oracle Cloud GL Fundamentals

Which process transfers subledger accounting entries into Oracle Cloud General Ledger?

  1. Subledger accounting creates journal entries that are transferred and posted to the GL Correct answer.
  2. The GL imports subledger data only through manual spreadsheet upload
  3. The GL pulls balances directly from subledger tables without creating journals
  4. The GL creates subledger entries from GL journals

Explanation

Subledger accounting applies accounting rules to subledger transactions and creates journal entries, which are transferred to and posted in the GL. This creates an auditable trail from transaction to ledger. The GL does not read subledger tables directly, and the direction is from subledger to GL.

Question 17Oracle Cloud GL Fundamentals

What is the role of the Create Accounting process in the subledger-to-GL flow?

  1. It closes the accounting period in the GL
  2. It revalues foreign currency balances at period end
  3. It posts GL journals to the ledger balances
  4. It applies accounting rules and generates journal entries for subledger transactions Correct answer.

Explanation

Create Accounting evaluates subledger transactions against accounting rules and produces journal entries. Those entries are then transferred to the GL and posted. Posting, period close, and revaluation are separate GL processes.

Question 18Oracle Cloud GL Fundamentals

Which Oracle Cloud GL feature lets users build and run custom financial reports using balances, budgets, and account hierarchies?

  1. The journal entry form with line-level validation
  2. Financial Reporting Center with report components and account groups Correct answer.
  3. The approval workflow configuration page
  4. The period close dashboard with task lists

Explanation

The Financial Reporting Center provides tools to design reports using balances, budgets, and account hierarchies. Users can create report components and account groups for financial statements. Journal entry, close dashboards, and approval configuration serve different functions.

Question 19Oracle Cloud GL Fundamentals

What is the purpose of an account group in Oracle Cloud GL reporting?

  1. It groups users who may post journals to a ledger
  2. It groups currencies for conversion purposes
  3. It groups periods into a fiscal year
  4. It groups natural accounts for reporting, such as totaling all revenue accounts Correct answer.

Explanation

Account groups define groupings of natural accounts so that reports can total and present them meaningfully, such as all revenue accounts. They are a reporting construct, not a security or calendar object. Users, periods, and currencies are managed through separate features.

Question 20Oracle Cloud GL Fundamentals

An accountant needs to review the detail behind a GL balance to confirm which journals created it. Which drill-down capability supports this?

  1. Export the chart of accounts to a spreadsheet
  2. Run the revaluation report for the period
  3. Open the period close checklist and review completed tasks
  4. Drill from the balance to the underlying journals and their source transactions Correct answer.

Explanation

Oracle Cloud GL supports drill-down from balances to the journals that created them and further to source transactions. This provides an audit trail for balance analysis. Close checklists, revaluation reports, and chart exports do not show the journal detail behind a balance.

Question 21Oracle Cloud GL Fundamentals

What does the period close process in Oracle Cloud GL typically include before a period can be closed?

  1. Completing close tasks such as journal posting, revaluation, and reconciliation Correct answer.
  2. Deleting all unposted journals from the period
  3. Removing the approval workflow for the period
  4. Changing the ledger currency to match the reporting currency

Explanation

Period close involves completing defined tasks such as posting journals, running revaluation, and reconciling balances before the period is closed. Unposted journals are not deleted as part of close; they must be resolved. Ledger currency and approval workflow are configuration settings, not close steps.

Question 22Oracle Cloud GL Fundamentals

A journal is entered with a balancing segment value that does not exist in the chart of accounts. What is the expected result when the journal is validated?

  1. The journal is held for approval but can still be posted
  2. The journal posts and the invalid value is created automatically
  3. Validation fails because the segment value is not valid for the chart of accounts Correct answer.
  4. The journal posts with the value mapped to a default account

Explanation

Journal validation checks that each segment value is valid and enabled in the chart of accounts. An invalid balancing segment value causes validation to fail, preventing posting. The system does not create segment values automatically or map them to defaults during validation.

Question 23Oracle Cloud GL Fundamentals

A user reports that a journal cannot be posted even though it balances and is approved. Which condition most likely explains the failure?

  1. The journal was entered in the ledger currency
  2. The journal source has not been assigned a reversal method
  3. The accounting period for the journal is closed Correct answer.
  4. The ledger has more than one balancing segment value

Explanation

Posting requires the target accounting period to be open; a closed period blocks posting regardless of balance or approval. Reversal method, multiple balancing values, and ledger currency entry do not prevent posting. Checking period status is therefore the first diagnostic step.

Question 24Oracle Cloud GL Fundamentals

Which statement best describes how a primary ledger and a secondary ledger interact when the secondary ledger uses the same chart of accounts and calendar?

  1. The secondary ledger replaces the primary ledger for statutory reporting purposes
  2. The secondary ledger maintains its own balances in a different currency while sharing the chart of accounts and calendar Correct answer.
  3. The secondary ledger requires a separate chart of accounts and calendar from the primary ledger
  4. The secondary ledger shares balances directly with the primary ledger and cannot hold separate amounts

Explanation

A secondary ledger can share the chart of accounts and calendar while maintaining balances in a different currency or accounting method. It holds its own balances rather than sharing them directly. It does not require a separate chart of accounts, and it supplements rather than replaces the primary ledger.

Question 25Oracle Cloud GL Fundamentals

An organization wants to distribute corporate overhead costs across departments each month based on headcount. Which combination of Oracle Cloud GL features is most appropriate?

  1. Recurring journals with a fixed amount per department
  2. Revaluation rules applied to expense accounts
  3. Allocation rules using a statistical basis, run as part of the monthly close Correct answer.
  4. Automatic reversal journals entered manually each month

Explanation

Allocation rules distribute pooled costs to targets using a defined basis such as headcount, and they are run during the close cycle. Recurring journals repeat fixed amounts and cannot vary by headcount. Reversal and revaluation address different accounting needs.

Question 26Oracle Cloud GL Fundamentals

Which Oracle Cloud General Ledger object stores the account structure that journals use, including the balancing segment, natural account, and cost center segments?

  1. The ledger currency
  2. The accounting calendar
  3. The journal source
  4. The chart of accounts Correct answer.

Explanation

The chart of accounts defines the key flexfield structure whose segments classify every journal line, including the balancing segment that enforces balance and the natural account that determines the account type. The calendar, source, and currency are separate ledger attributes and do not define segment structure.

Question 27Oracle Cloud GL Fundamentals

Which ledger attribute determines the number and names of accounting periods available for journal entry and posting?

  1. The journal approval rule set
  2. The accounting calendar assigned to the ledger Correct answer.
  3. The retained earnings account assignment
  4. The conversion rate type assigned to the ledger

Explanation

The accounting calendar defines the fiscal year, the number of periods, and their start and end dates, and it is assigned to each ledger. Period status such as Open, Closed, or Permanently Closed is tracked per period on that calendar.

Question 28Oracle Cloud GL Fundamentals

When a journal is posted, what effect does Oracle Cloud GL apply to the account balances of the affected periods?

  1. It writes the journal lines to the subledger tables so subledgers can pick them up.
  2. It updates the stored period balances and account balances used for reporting and inquiry. Correct answer.
  3. It creates reversing entries in the following period for every posted line.
  4. It recalculates translated balances for every reporting currency automatically.

Explanation

Posting is the step that commits journal amounts to the ledger balances used by inquiries, reports, and allocations. Until a journal is posted, its lines do not affect the balances that reporting reads.

Question 29Oracle Cloud GL Fundamentals

Which statement describes the purpose of the Suspense account in an Oracle Cloud GL journal entry?

  1. It records the tax portion of a journal line separately from the base amount.
  2. It temporarily holds an out-of-balance amount so a journal can be saved for later correction. Correct answer.
  3. It stores the difference between ledger currency and entered currency amounts.
  4. It accumulates rounding differences created by allocation formulas.

Explanation

The suspense account is a designated account that absorbs a difference when journal entry is configured to allow unbalanced journals to be saved. Balances in suspense should be investigated and cleared before period close.

Question 30Oracle Cloud GL Fundamentals

What does the Open Period action allow an accountant to do in Oracle Cloud GL?

  1. Reopen a permanently closed period without any approval.
  2. Enter and post journals dated within that period, subject to the ledger's controls. Correct answer.
  3. Delete posted journals that fall within the period.
  4. Change the ledger currency for that period only.

Explanation

Opening a period makes it available for journal entry and posting according to the ledger's period status rules. Permanently closed periods cannot simply be reopened, and posted journals cannot be deleted.

Question 31Oracle Cloud GL Fundamentals

Which component defines the accounts that receive a company's year-end retained earnings when the ledger is closed?

  1. The retained earnings account assigned in the ledger definition Correct answer.
  2. The suspense account assigned in the journal entry configuration
  3. The intercompany receivables account in the chart of accounts
  4. The default account assigned to the journal source

Explanation

Each ledger specifies a retained earnings account that receives the net income or loss calculated during the closing of the final period of the year. The closing process moves revenue and expense balances into that account.

Question 32Oracle Cloud GL Fundamentals

Which Oracle Cloud GL feature lets an accountant copy a standard journal entry structure and reuse it repeatedly with a defined reversal and schedule?

  1. Mass allocations
  2. Recurring journals Correct answer.
  3. Allocations
  4. Revaluations

Explanation

Recurring journals define a template of lines, a schedule, and a reversal method so that similar entries can be generated each period with minimal rekeying. They are distinct from allocations, which distribute pool balances by a basis.

Question 33Oracle Cloud GL Fundamentals

Which statement best describes the role of the natural account segment value's account type in Oracle Cloud GL?

  1. It classifies the account as asset, liability, equity, revenue, or expense, which drives reporting and closing behavior. Correct answer.
  2. It sets the conversion rate type used for the account.
  3. It determines the currency in which the account must be entered.
  4. It controls which users may post to the account.

Explanation

The account type on the natural account value determines how balances are aggregated in financial statements and how closing treats the account. Revenue and expense accounts are closed to retained earnings, while balance sheet accounts carry forward.

Question 34Oracle Cloud GL Fundamentals

An accountant posts a journal to a period that is already closed. What is the most likely outcome in Oracle Cloud GL?

  1. The journal posts and creates an automatic reversing entry.
  2. The journal posts but is flagged for review by the approval workflow.
  3. The journal posts and silently reopens the closed period.
  4. The journal cannot be posted to that period and must be posted to an open period instead. Correct answer.

Explanation

Posting validates the period status of each journal line's accounting date. A closed period rejects posting, so the entry must be dated in an open period or the period must be reopened through the proper procedure.

Question 35Oracle Cloud GL Fundamentals

A journal balances in the entered currency but the ledger currency amounts do not balance because of rate rounding. Which Oracle Cloud GL mechanism resolves the difference?

  1. The rounding difference is posted to a rounding account specified in the journal entry configuration. Correct answer.
  2. The difference is written to the suspense account and never cleared.
  3. The journal is rejected until the user manually edits the converted amounts.
  4. The journal is posted with unequal debits and credits in the ledger currency.

Explanation

Oracle Cloud GL uses a rounding account to absorb small differences created when converting entered amounts into the ledger currency. This keeps the ledger currency journal balanced while preserving the entered currency detail.

Question 36Oracle Cloud GL Fundamentals

Which Oracle Cloud GL process recalculates the ledger currency value of open foreign currency balances using a new rate and posts the resulting adjustment?

  1. Revaluation Correct answer.
  2. Allocation
  3. Translation
  4. Consolidation

Explanation

Revaluation restates open foreign currency balances in the ledger currency at a period-end rate and posts the gain or loss to designated accounts. Translation, by contrast, converts an entire ledger's balances into a reporting currency.

Question 37Oracle Cloud GL Fundamentals

A company needs balances from a primary ledger restated into a different currency for statutory reporting while retaining the same chart of accounts and calendar. Which ledger type fits this requirement?

  1. A primary ledger with a different chart of accounts
  2. An average balance ledger with a different currency
  3. A reporting currency ledger with a different calendar
  4. A secondary ledger with the currency conversion level of adjustment only Correct answer.

Explanation

A secondary ledger can share the chart of accounts and calendar while applying currency conversion to produce balances in another currency. Choosing conversion at the adjustment-only level means only adjustments are converted, which suits statutory restatement.

Question 38Oracle Cloud GL Fundamentals

Which condition must be satisfied before a journal can be posted in Oracle Cloud GL?

  1. The journal must be created by an allocation formula.
  2. The journal must be approved if its source requires approval, and its period must be open. Correct answer.
  3. The journal must be reversed in the same period it was entered.
  4. The journal must contain only balance sheet accounts.

Explanation

Posting requires that the journal balance, that any required approval has completed, and that the target period is open. Journals that fail approval or target a closed period remain unposted.

Question 39Oracle Cloud GL Fundamentals

Which Oracle Cloud GL capability allows an accountant to compare actual balances against budget amounts for the same account and period?

  1. Intercompany balancing
  2. Subledger reconciliation
  3. Account inquiry with budget balances enabled Correct answer.
  4. Journal approval history

Explanation

Account inquiry can display actual and budget balances side by side for selected accounts and periods, supporting variance review. Budget balances must be loaded or entered for the ledger before they appear.

Question 40Oracle Cloud GL Fundamentals

How does Oracle Cloud GL handle intercompany transactions when the balancing segment values differ on the two sides of a journal?

  1. It creates intercompany balancing entries using the intercompany rules defined for the ledger. Correct answer.
  2. It routes the journal to the subledger for correction.
  3. It rejects the journal because balancing segments must match.
  4. It posts the journal without any balancing entry.

Explanation

Intercompany balancing rules determine the receivable and payable accounts and the clearing mechanism used when a journal crosses balancing segment values. The system generates the balancing lines automatically so each balancing segment remains in balance.

Question 41Oracle Cloud GL Fundamentals

Which Oracle Cloud GL feature supports entering statistical amounts, such as headcount, alongside monetary journal amounts?

  1. Currency conversion journal lines
  2. Revaluation journal lines
  3. Statistical journal lines using a statistical unit of measure Correct answer.
  4. Suspense journal lines

Explanation

Statistical journals record quantities rather than money, using units of measure such as headcount or square footage. These balances often serve as the basis for allocations and for non-financial reporting.

Question 42Oracle Cloud GL Fundamentals

An accountant needs to prevent a specific journal source from posting without review. Which configuration accomplishes this?

  1. Set the source's journals to be created as unposted and rely on users to self-review.
  2. Assign the source to a closed period.
  3. Change the ledger currency for the source.
  4. Require approval for that journal source in the journal approval configuration. Correct answer.

Explanation

Journal approval configuration determines which sources require approval before posting. By requiring approval for a source, journals from that source enter the workflow and cannot post until approved.

Question 43Oracle Cloud GL Fundamentals

What is the effect of the Translate Balances process on a ledger that has a reporting currency assigned?

  1. It converts account balances into the reporting currency using defined rate types and stores them for reporting. Correct answer.
  2. It replaces the ledger currency balances with the reporting currency amounts.
  3. It converts each journal line at entry time and discards the original amounts.
  4. It reverses all foreign currency journals in the reporting currency.

Explanation

Translation converts balances, not individual journal lines, into a reporting currency and stores the results separately. The ledger currency balances remain intact, and the reporting currency balances are used for reporting and consolidation.

Question 44Oracle Cloud GL Fundamentals

Which statement describes the relationship between a journal batch and the journals it contains?

  1. A batch is the same as an allocation formula.
  2. A batch is a single journal line with multiple accounts.
  3. A batch is a period status that blocks posting.
  4. A batch groups multiple journals so they can be submitted, approved, and posted together. Correct answer.

Explanation

A journal batch is a container for one or more journals and allows them to be processed as a group for approval and posting. Each journal within the batch retains its own lines and balancing.

Question 45Oracle Cloud GL Fundamentals

Which Oracle Cloud GL process is used to move revenue and expense balances into retained earnings at the end of the fiscal year?

  1. Running translation for the final period
  2. Running revaluation for the final period
  3. Creating a recurring journal for the final period
  4. Closing the final period of the year with the ledger's closing options Correct answer.

Explanation

Year-end closing uses the ledger's retained earnings account and closing rules to transfer income statement balances. The process is triggered by closing the last period of the fiscal year.

Question 46Oracle Cloud GL Fundamentals

A journal is entered with a balancing segment value that is valid but belongs to a different legal entity than the one the user is authorized for. Which control is most likely to block the entry?

  1. Data access set security on the balancing segment value Correct answer.
  2. The ledger's accounting calendar
  3. The journal's conversion rate type
  4. The journal's reversal method

Explanation

Data access sets restrict which ledgers and balancing segment values a user can access. A valid value outside the user's authorized set is rejected or hidden, preventing cross-entity posting.

Question 47Oracle Cloud GL Fundamentals

An accountant runs an allocation that produces a rounding residual in the target amounts. Which allocation setting determines where that residual is posted?

  1. The ledger's retained earnings account
  2. The rounding options and the offset account defined on the allocation Correct answer.
  3. The journal source's default account
  4. The suspense account in journal entry configuration

Explanation

Allocation definitions include rounding options that determine how the residual is treated, and an offset account can receive the difference. This keeps the allocation balanced while distributing the pool.

Question 48Oracle Cloud GL Fundamentals

A user needs to see how a specific GL account balance was built from multiple subledger sources and manual journals. Which Oracle Cloud GL capability provides this view?

  1. Data access set review
  2. Journal approval history
  3. Period close checklist review
  4. Account inquiry drill-down from the balance to the underlying journals and subledger transactions Correct answer.

Explanation

Drill-down from account inquiry exposes the journals and subledger transactions that contributed to a balance. This supports audit and reconciliation by tracing balances to their source detail.

Question 49Oracle Cloud GL Fundamentals

A company maintains a primary ledger and a secondary ledger that uses the same currency, chart of accounts, calendar, and period type. Which conversion level is designed for the secondary ledger to contain only adjustments that supplement the primary ledger's accounting?

  1. Balance level
  2. Subledger level
  3. Journal level
  4. Adjustment only Correct answer.

Explanation

An Adjustment Only secondary ledger holds adjustments that supplement the primary ledger's accounting; it is not a complete copy of that ledger. It must share the primary ledger's currency, chart of accounts, accounting calendar, and period type. It does not automatically copy selected adjustment journals from the primary ledger.

Question 50Oracle Cloud GL Fundamentals

Which combination of ledger attributes is required to define a primary ledger in Oracle Cloud GL?

  1. Conversion rate type, rounding account, and reversal method
  2. Chart of accounts, accounting calendar, currency, and a retained earnings account Correct answer.
  3. Journal source, approval rule set, and suspense account
  4. Data access set, journal batch, and allocation formula

Explanation

A primary ledger is defined by its chart of accounts, accounting calendar, currency, and retained earnings account, along with other optional settings. These attributes determine how journals are classified, dated, and closed.