Tips to Pass 1Z0-508 Exam (71 to 80)

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2021 Aug 1Z0-508 actual test

Q71. Choose four applications for which SmartView provides a common Microsoft Office interface. 

A. Oracle Hyperion Financial Management, Fusion Edition 

B. Oracle Hyperion Planning, Fusion Edition 

C. Oracle E-Business Suite Release 11g 

D. Oracle Enterprise Performance Management Workspace, Fusion Edition 

E. Oracle Business Intelligence Enterprise Edition 

F. Oracle Essbase 

Answer: A,B,D,E 

Explanation: A, B: SmartView provides anOffice-based interface for leveraging Hyperion Planning, Hyperion Financial Management, and Hyperion Workforce Planning data entry forms D, E:Oracle Hyperion Smart View for Office, Fusion Edition (Smart View) provides a common MicrosoftOffice interface for the OracleEnterprise Performance Management (EPM) suite of products along with Oracle Business Intelligence (BI) data sources 

Note: Oracle Hyperion Smart View for Office (Smart View) is a component of Hyperion Foundation Services. Smart View provides a common Microsoft Office interface designed specifically for Oracle's Enterprise Performance Management (EPM) and Business Intelligence (BI). Using Smart View, you can view, import, manipulate, distribute and share data in Microsoft Excel, Word and PowerPoint interfaces. It is a comprehensive tool for accessing and integrating EPM and BI content from Microsoft Office products. 

Q72. What is the best view or tool to use it you need to quickly perform an ad hoc ledger query that drill down to in a web view? 

A. Account Monitoring 

B. Oracle Hyperion Smart View 

C. Oracle Hyperion Financial Reporting Studio 

D. Account Inspector 

Answer: D 

Explanation: Account Inspector allows financial analysts and accountants to quickly perform ad hoc ledger queries, multi-dimensional analysis, pivoting, and drill down--all within a web page. Because it works off the same multi-dimensional balances that stores pre-aggregated balances at all levels, slicing and dicing data is extremely fast. Any changes you make to your query criteria are instantaneously refreshed to ensure you are working with the most up-to-date information to make the most informed decisions. 

Q73. What are the two functions that Oracle Fusion Approvals Management (AMX) merges to approve journal flow? 

A. Oracle Approvals Management (AME) 

B. Oracle PeopleSoft Approvals (AWE) 

C. Business Process Execution Language (BPEL) 

D. Oracle Workflow 

Answer: A,B 

Explanation: Journal approval in Oracle Fusion applications uses Oracle Fusion Approvals Management (AMX) to merge the functionality of Oracle Approvals Management (AME) and PeopleSoft Approvals (AWE). 

Reference: Oracle Fusion Applications Financials Implementation Guide, Approving Journals: Points to Consider 

Q74. With which two options can Mapping Sets validate input values? 

A. Lookup Types 

B. Value Sets 

C. Accounting Segment 

D. FlexFields 

Answer: A,B 

Explanation: Mapping sets enable you to assign a specific output value to an Accounting Flexfield or Accounting Flexfield segment. You use mapping sets when you set up account derivation rules. 

Account derivation rules determine the Accounting Flexfield values for subledger journal entries. 

Oracle Projects does not provide any predefined mapping sets. You can optionally define your own mapping sets. When you enter input values for mapping sets, you can select from a list of values based on either an existing lookup set or value set. You also specify the Accounting Flexfield segment and select segment values from a list of values. 

For example, you can select a lookup type of service type for the input and the Accounting Flexfield segment program as the output. You then select the service type and program segment values from lists of values as you define each pair 

Reference: Oracle Projects Implementation Guide, Mapping Sets 

Q75. You have added a cost center to the chart of accounts from Fusion General Ledger. Identify the process that you need to run to sync the cube in Essbase. 

A. Run the import Chart of Account Segment Values. 

B. Automatically create or modify the cube in Essbase. 

C. Run the chart of Accounts – Account Hierarchy. 

D. Run the Program – Optimizer. 

Answer: C 

Explanation: Synchronization of chart of accounts values between the Oracle General Ledgers and Fusion Accounting Hub 

Oracle Hyperion Data Relationship Management (DRM) propagates any updates to chart of accounts values from the Oracle E-Business Suite General Ledger to Fusion Accounting Hub. 

DRM is a change management platform built specifically to support complex financial reference data. With DRM’s robust security and rich hierarchy management features, you can enforce highlevel standards and controls over chart of accounts synchronization between Oracle General Ledgers and Fusion Accounting Hub. For the PeopleSoft General Ledger, a one-time chart of accounts load will synchronize the charts of accounts from the PeopleSoft General Ledger and Fusion General Ledger. 

Note: Integration between Oracle General Ledgers (E-Business Suite and PeopleSoft) and the Oracle Fusion Accounting Hub has three main components: 

1. Synchronization of charts of accounts, calendars, and ledgers. 

2. Transfer of data and financial results from the Oracle General Ledgers to Fusion Accounting Hub’s Fusion General Ledger. 

3. Drilldown from Fusion Accounting Hub to the Oracle General Ledgers 

Reference: Oracle Fusion Accounting Hub: Integration with Oracle Financial Solutions. 

1Z0-508 practice test

Regenerate 1Z0-508 free practice test:

Q76. Which three objectives must be considered when designing the chart of accounts? 

A. Effectively manage an organization's financial business. 

B. Support the audit and control of financial transactions. 

C. Provide less flexibility for management reporting and analysis. 

D. Anticipate growth and maintenance needs because organizational changes occur 

E. Select the segment qualifiers. 

Answer: A,B,D 

Explanation: D:Provides a good foundation for further expansion as well as appropriate storage of current and historical information. 

Q77. In Oracle Fusion, the intercompany transactions are used to generate the accounts needed to balance ____________. 

A. By legal entity only 

B. By primary balancing segment values only 

C. By both legal and balancing segments values 

D. By account values 

Answer: B 

Explanation: Intercompany journals involve balancing segment values that map to different legal entities. These journals are balanced for each legal entity by using their intercompany accounts. 

Intracompany balancing rules are used to create balancing lines on journals between balancing segment values either within the same legal entity, or where there is no legal entity context. 

Reference: Oracle Financials Implementation Guide, Intercompany Balancing 

Q78. Which statement about intercompany balancing is INCORRECT? 

A. Intercompany balancing is used to balance transactions by an additional dimension beyond the primary segment. 

B. Intercompany balancingisused to track intercompany duo to/due from balances by identifying the specific trading company. 

C. The intercompany qualified segment can NOT be set with any of the three balancing segment qualifiers. 

D. Segment values can be assigned more than once within your chart of account. 

E. Segment values can be assigned only once within your chart of account. 

Answer: D 


Q79. What are NOT included in the intercompany reconciliation reports? 

A. Clearing company balancing lines 

B. Intercompany receivables and intercompany lines generated by the intercompany balancing feature 

C. Intercompany receivables and Intercompany payables lines generated for the provider and receiver of each intercompany transaction 

D. Ledger balancing lines generated when the primary balancing segment value is in balance butneither the second balancing segment northird balancing segment is out of balance; clearing company balancing lines 

Answer: A 

Explanation: The following are not included on the intercompany reconciliation reports: 

* Clearing company balancing lines (A) 

* Ledger balancing lines generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance 

Reference: Fusion Applications Help: All > Financial Control and Reporting > Close Accounting Period > Reconcile Accounts, Intercompany Reconciliation: Explained 

Q80. What can be used to restrict the events selected for accounting when users submit the Accounting Process? 

A. Process Category 

B. EventClasses 

C. Event Types 

D. Journal Line Types 

E. Batch Name 

Answer: A 

Explanation: Process Category: restricts the events selected for accounting to a particular process category The Create Accounting program selects events with event types falling into the event classes assigned to the process category. Only process categories established by development teams as part of the seed data are included in the list of values. 

Reference: Oracle Subledger Accounting Implementation Guide, Create Accounting Program 

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