Oracle 1Z0-508 Exam Questions & Answers

Correct Answer: BCD

If you change the status of a tree structure, the status of the trees and tree versions associated with that tree structure also changes.

The following table lists the different statuses of a tree structure.

Status, Meaning

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Draft

Yet to be published or is in a modified state.

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Active

In use and based on which one or more trees or tree versions are created.

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Inactive

Not in use.

Reference: Oracle?Fusion Applications Financials Implementation Guide, Setting Status

Correct Answer: AB

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

Correct Answer: D

The Oracle Fusion Accounting Hub allows you to use Subledger Accounting to perform accounting transformations on external, non-Oracle system data. Subledger Accounting is also used to flexibly create accounting for Oracle subledgers such as Oracle Payables and Receivables. Subledger Accounting includes:

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Registration of your external systems, indicating what types of transactions or activities require accounting from those systems.

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Create a library of transaction and reference information that will be used for defining accounting treatments.

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Configurable accounting rules to define accounting treatments for transactions.

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Accounting engine that combines transaction and reference information from source systems with accounting rules to create detailed journals stored in an accounting repository.

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Detailed subledger accounting journal entry repository to audit and reconcile accounting balances.

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Reports and user interface inquiries for analyzing accounting transformations.

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Configurable analytical balances based upon source system or reference attributes.

Note:

The Oracle Fusion Accounting Hub process can begin by using financial data from any or all of the following:

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Non-Oracle external applications including transaction and reference information from industry, specific applications

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Oracle Fusion subledgers including subledger journals

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Oracle E-Business Suite, Oracle PeopleSoft, and Oracle JD Edwards General Ledgers including account balances

The Accounting Hub process ends with complete reporting and analysis solutions.

Note 2:

The Accounting Hub contains for example the following component:

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Oracle Fusion Subledger Accounting to perform accounting transformations on external system data

Reference: Oracle Fusion Accounting Hub Implementation Guide, Oracle Fusion Subledger Accounting for External Systems