Infosys Certified Oracle Assets Cloud Consultant
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Join Premium10 Infosys Certified Oracle Assets Cloud Consultant practice questions with answers
Real Lex exam-pattern multiple-choice questions for the Infosys Certified Oracle Assets Cloud Consultant certification. Each question includes the correct answer. The full question bank is available to Premium members.
- Question 1
ABC Corporation decides to use the following month prorate convention as part of their convention policy during Asset depreciation process. According to this, which date will be the Prorate date for ABC Corporation?
- ✓
Last date of current month
Correct - B
Last date of following month
- C
Beginning date of the following month
- D
Beginning date of the month following the month placed in service
- ✓
- Question 2
In order to ensure successful data transfer of payable invoice to Assets, which of the following factors need to be satisfied?
- ✓
The invoice distribution account should be asset cost account
Correct - B
The invoice distribution account should be depreciation account
- C
The invoice distribution account should be asset clearing account
- D
The invoice distribution account should be retirement account
- ✓
- Question 3
Which report gives detailed information on the journal lines of asset transactions for each account balance in functional and foreign currencies?
- ✓
General ledger Report
Correct - B
Assets to GL Reconciliation report
- C
Payables to GL Reconciliation report
- D
Asset Analysis report
- ✓
- Question 4
For which purpose, Mass additions create report can be utilized from the below options?
- ✓
Audit trail of assets created from mass additions
Correct - B
Audit trail of assets created from payables
- C
Audit trail of mass additions created from Spreadsheet
- D
Audit trail of mass additions created from payables
- ✓
- Question 5
Which of the following asset operation will not have an accounting impact?
- ✓
Asset addition
Correct - B
Location change
- C
Depreciation
- D
Retirement
- ✓
- Question 6
Which of the following statement is not true pertaining to Asset book, Ledger, Business unit mapping?
- ✓
Business units are assigned to Primary ledgers
Correct - B
Asset books are directly linked to business units
- C
Asset books are directly linked to Ledgers
- D
Business units interact with corporate books assigned to a ledger
- ✓
- Question 7
Which of the following statements are true pertaining to fiscal year functionality?
a. The first period should correspond to the Date Placed in Service
b. Setup at least 2 periods before the current period
c. System automatically setup the next fiscal year periods
- ✓
I only
Correct - B
II and III only
- C
I and III only
- D
III only
- ✓
- Question 8
The reporting authorities where XYZ Inc. operates follow the prorate depreciation according to number of days that an asset is being hold. How many prorate periods will exist for a prorate convention of XYZ Inc.?
- ✓
12 Periods
Correct - B
1 Period
- C
52 Periods
- D
365 Periods
- ✓
- Question 9
Which of the following step is not included in accounting process flow of assets?
- ✓
Disabling ‘Allow GL posting’ in Asset book setup
Correct - B
Performing relevant asset transactions
- C
Running Create accounting program
- D
Posting the journal entries in GL
- ✓
- Question 10
Mr. X, who is a Fixed assets accountant in a company processed Supplier invoices of assets successfully. However, data pertaining to 4 invoices was not appearing in Assets. Identify the causes applicable?
- ✓
Invoice validation
Correct - B
Invoice accounting
- C
Invoice approval
- D
Track as Asset check box
- ✓
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