Your ledger currency is USD. At month end you have a balance on the Accounts Payable Liability Account of
100,000 Euros which is equivalent to USD 136,550. This balance needs to be revalued.
The month end exchange rate for revaluation is 1 Euro = 1.3755 USD.
What two statements are true for the resulting revaluation run? (Choose two.)

• A. There is no unrealized exchange gain or loss calculated.
• B. You have an unrealized exchange loss recorded.
• C. The original journal entry in Euros is updated.
• D. You have an unrealized exchange gain recorded.
• E. The original journal entry in Euros remains the same.

Explanation: Only visible for ActualTestsIT members. You can sign-up / login (it's free).

You are using account hierarchies for reporting and allocations.
Which two statements are true about these types of hierarchies? (Choose two.)

• A. Hierarchies for reporting and allocations have to be published to Essbase cubes.
• B. Hierarchies for reporting and allocations do not have to be published to Essbase cubes.
• C. Child values in these hierarchies can belong to only one parent.
• D. You can have only one version of a hierarchy published to the Essbase cube at any time.

Explanation: Only visible for ActualTestsIT members. You can sign-up / login (it's free).

Challenge 2
Manage Shorthand Aliases
Scenario
Your client intends to utilize the Shorthand Aliasfeature and would like to see how the aliases willappear when entering transactions.
Task 2
Create a shorthand alias for the US Chart of Accounts to record Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center.

Note:
. Prefix your alias name with 07, where 07 is your exam ID.
. There is no Product or Intercompany impact.

See the Explanation for the complete Solution.
Explanation
Here are the steps you need to follow:
In the Setup and Maintenance work area, go to the following:
Offering: Financials
Functional Area: Financial Reporting Structures
Task: Manage Shorthand Aliases
Select the chart of accounts that you want to create the alias for. In this case, it is the Corporate chart of accounts.
Click on the Add Row icon to create a new alias. Enter the following information:
Alias Name: RevDom
Account Template: 101-2000-400000-000-000-000
Description: Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center Enabled: Yes Start Date: Today's date End Date: Blank Click on the Save and Close button to save the alias.
You have successfully created a shorthand alias for the US Chart of Accounts. For more information, you can refer to the following resources:
Account Aliases
Enter a GL Account Alias
Short Hand Alias in Fusion Financials Key Flexfield
How to Enable Account Shorthand Aliases

Which two statements are true about the Intercompany Reconciliation report?

• A. It includes ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.
• B. It displays all clearing company balancing lines for a period.
• C. It can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
• D. You can only drill down to the General Ledger journal and then from there to the Subledger journal entry.
• E. It displays the intercompany receivables and intercompany payables balances in summary for a period.

Explanation: Only visible for ActualTestsIT members. You can sign-up / login (it's free).

You are setting up Close Monitor and want to view high-level profit and loss results for each ledger.
What should you associate with the ledger set to achieve this?

• A. OTBI report
• B. Trial Balance report
• C. Financial Reporting Web Studio report
• D. Account group

Explanation: Only visible for ActualTestsIT members. You can sign-up / login (it's free).