Interview Questions.

Question 1. How Many Key Flexfields Are There In Oracle Financials?

Answer :

General Ledger

Accounting Flexfield
Assets

Asset Key Flexfield
Location Flexfield
Category Flexfield
Service

Service Item Flexfield
Receivables

Territory Flexfield
Sales Tax Location Flexfield
Inventory

Item Categories
System Items
Sales Orders
Item Catalogs
Question 2. What Are The Benefits Of Flexfields?

Answer :

Configure packages to aid your personal accounting, product and other codes.
Enable the development of sensible keys.
Configure software to capture extra statistics.
Use the application to validate values and value combos entered via the person.
Support a couple of flexfield structures depending on statistics context.
Oracle 10g Interview Questions
Question 3. What Are The Types Of Flexfields?

Answer :

Key flexfield
Descriptive flexfield
Question four. Key And Dexcriptive Flexfield Comparison?

Answer :

KEY FLEXFIELD

Owned by one software; utilized by many
Required to installation; now not usually required to use
Intelligent keys
Identifies entities
DESCRIPTIVE FLEXFIELD

Associated with tables in a specific application
Setup is non-obligatory
No intelligence; best stores extra information
Captures extra data only
Oracle 10g Tutorial
Question 5. What Is A Key Flexfield Qualifier?

Answer :

A qualifier is a label connected to a specific key flexfield section so it may be located with the aid of the utility requiring its information. A key flexfield qualifier can be of 2 kinds:

Flexfield qualifiers become aware of a phase in a flexfield.
Segment qualifiers discover a price set in a phase.
Oracle 9i Interview Questions
Question 6. Types Of Flexfield Qualifier?

Answer :

NATURAL ACCOUNT: Each Accounting Flexfield shape need to contain best one natural account phase. When setting up the values, you may imply the form of account as Asset, Liability, Owner’s Equity, Revenue, or Expense.

BALANCING ACCOUNT: Each Structure need to include simplest one balancing section. Oracle GL ensures that each one journals balance for each balancing segment.
COST CENTER: This phase is needed for Oracle Assets. The Cost middle section is used in lots of Oracle Assets reviews and through Oracle Workflow to generate account numbers. In addition, Oracle Projects and Oracle Purchasing additionally utilize the fee center section.
INTERCOMPANY: GL routinely uses the intercompany phase inside the account code aggregate to tune intercompany transactions inside a unmarried set of books. This phase has the equal value set and the same values because the balancing section.
Question 7. Segment Qualifiers?

Answer :

ACCOUNT TYPE: Asset, Liability, Owner’s Equity, Revenue, Expense, Budgetary Dr, and Budgetary Cr.
Budget access allowed (Yes/No).
Posting allowed (Yes/No).
Control Account Reconciliation Flag: Available for precise countries.
Oracle 9i Tutorial Oracle 8i Interview Questions
Question 8. What Is The Implication Of Dynamic Insert?

Answer :

Dynamic Insertion is a characteristic which controls whether or not the person can enter new account code mixtures from any form/window. If this feature is disabled, then the consumer cannot input new account code combos from any window/shape.

Oracle applications use a particular form (called a Combination shape) for directly entering the new code combinations. Users can enter new account code combos best through this shape if Dynamic Insertion is disabled.

Question 9. Cross Validating Values?

Answer :

For key flexfields with multiple segments, we are able to outline policies to cross test value combinations entered with in the key flexfield segments. This choice is referred as Cross Validation policies.

Oracle 11g Interview Questions
Question 10. What Is Value Set?

Answer :

A cost set is a definition of the values accredited for access or display by means of a particular flexfield phase. A fee set may additionally incorporate a list of actual authorised values even though this isn't always required.

Some cost units allow a restricted range of values; others permit simplest certain values; others have minimal regulations.
Different flexfields can proportion the same value set. For example, a cost set containing the names of nearby places of work can be used by many specific flexfields.
Different segments of the identical flexfield can use the same cost set, as an instance a date price set. Segments defined to extraordinary systems of the identical flexfield can proportion fee set. Many of the report parameters used with Standard Request Submission (SRS) forms are tied to shared price sets.
Value sets do not must have the equal actual values defined for them.
Oracle 8i Tutorial
Question eleven. What Are Value Set List Types?

Answer :

List of values (10 to two hundred)
Long list of values (> 200)
Poplist (> 10)
Oracle apps Interview Questions
Question 12. What Is Value Set Security Type?

Answer :

No Security: All safety is disabled for this fee set.
Hierarchical Security: With Hierarchical protection, the features of the value safety and value hierarchies are blended. With this option any protection that applies to a parent fee additionally applies to its toddler values.
Non-Hierarchical Security: Security is enabled, but the guidelines of the hierarchical protection do not apply. That is, a security rule that applies to a determine value does not “cascade down” to its infant values.
Oracle 10g Interview Questions
Question 13. What Types Of Value Sets?

Answer :

NONE: A fee set of the type None has no list of accredited values associated with it. A None cost set performs handiest minimal checking of, as an example, facts type and length.
INDEPENDENT: Independent kind fee sets perform simple checking however also check a price entered in opposition to the listing of authorized values you outline.
DEPENDENT: A established price set is related to an impartial cost set. Dependent value units make certain that all based value are related to a cost in the related independent cost set.
TABLE: Table price units obtain their lists of accredited values from existing programs tables. When defining your table price set, you specify a SQL query to retrieve all of the accepted values from the table.
SPECIAL: This specialised value set offers another flexfield as a cost set for a single phase.
PAIR: This specialized value set presents a variety flexfield as a value set for a couple of segments.
TRANSLATED INDEPENDENT: This works just like Independent kind. However, a Translated Independent fee set can comprise show values which are translated into one of a kind languages.
TRANSLATED DEPENDENT: This works much like Dependent kind. However, a Translated Dependent fee set can incorporate show values which can be translated into distinctive languages.
Oracle 11g Tutorial
Question 14. How Many Segments Are There In The Key Flexfield(s) In Oracle General Ledger?

Answer :

Oracle GL Key flexfield will have 15 columns each representing a segment. However, the segments type may be:

Cost Center phase
Balancing segment
Account segment
Intercompany section
Question 15. On Which Entity Is The Cross-validation Rule Applicable?

Answer :

It’s a feature of Key flexfield, relevant on Value Sets.

Oracle 7.Three Interview Questions
Question 16. What Is A Period In Oracle Gl?

Answer :

A Period corresponds to a time span inside which transactions are entered previous to finalizing, in any other case known as as close of the duration.

Question 17. What Are The Period Types?

Answer :

Predefined period sorts in Oracle GL are:

Month
Quarter
Year
Oracle ADF Interview Questions
Question 18. Different Statuses Of An Accounting Period?

Answer :

NEVER OPENED: Cannot enter or submit journals.
FUTURE ENTERABLE: Enter magazine, however cannot post. The variety of destiny enterable periods is a set wide variety described within the set of books window. The quantity of destiny enterable period can be changed at any time.
OPEN: Enter and port journals to any open length. An limitless quantity of intervals may be open, but doing so might also gradual the posting system and can confuse customers coming into journals.
CLOSED: Cannot publish journals in a closed period. Must reopen closed periods before posting journals. Should manually near periods after completing month/zone/year-give up processing.
PERMANENTLY CLOSED: Permanently closed durations can't be reopened. This popularity is needed to Archive and Purge information.
Oracle 9i Interview Questions
Question 19. What Is An Adjusting Period And It’s Implications?

Answer :

Typically, the ultimate day of the economic yr is used to carry out adjusting and closing journals entries. This duration is known as Adjusting Period.

Choosing whether or not to consist of an adjusting length or no longer in a calendar is a very vital choice. There may be limitless number of changing intervals. Once the accounting calendar is used, changes to its structure to remove or upload an adjusting duration cannot be finished.

Question 20. How Many Types Of Conversion Rates Are There In Oracle Gl?

Answer :

There are 5 fundamental sorts of conversion rate types predefined in Oracle GL:

SPOT: An trade rate based on the rate for a selected date. It applies to the instant delivery of a forex.
CORPORATE: An trade fee that standardize quotes to your organization. This fee is usually a wellknown marketplace rate decided by means of senior financial control for use throughout the organization.
USER: An change price which you enter for the duration of foreign foreign money journal access.
EMU FIXED: An alternate price this is used by international locations becoming a member of the EU during the transition period to the Euro currency.
USER DEFINED: A rate type described by using your company to fulfill precise needs.
Oracle Application Framework Interview Questions
Question 21. What Are The Three Essential Components Of A Gl Set Of Book?

Answer :

CHART OF ACCOUNTS

Your chart of accounts is the account structure you define to healthy the unique desires of your employer.
You can select the range of account segments in addition to the duration, name, and order of every section.
ACCOUNTING CALENDAR

An accounting calendar defines an accounting yr and the durations it incorporates.
You can define multiple calendars and assign a one-of-a-kind calendar to every set of books.
CURRENCIES

You pick the practical foreign money to your set of books in addition to different currencies that you use to transact enterprise and report in.
GL converts economic amounts entered in a foreign forex to useful forex equivalents the usage of supplied charges.
Question 22. What Is The Implication Of The ‘destiny Period” Field In The Set Of Book Definition Form?

Answer :

The price cited within the Future Period field represents the wide variety of destiny enterable durations that customers can use to enter journal entries (furnished those future periods are opened). However, attention ought to be given to minimize the range of destiny enterable intervals to save you customers from by chance entering journal entries in an wrong duration.

Question 23. How Many Tabbed Regions Are There In The Set Of Book Definition Form? What Are The Names Of These Tabbed Regions?

Answer :

There are 5 tabbed regions in the set of books definition shape.

Closing
Journaling
Average Balances
Budgetary Control
Multiple Reporting Currencies
Oracle Apps Functional Interview Questions
Question 24. What Is Retained Earnings Account?

Answer :

Retained earnings confer with the share of internet profits no longer paid out as dividends, but retained with the aid of the organization to be reinvested in its middle business, or to pay debt. It is recorded below shareholders' fairness at the stability sheet.

Oracle 8i Interview Questions
Question 25. What Should Be The Characteristic (phase Qualifier) Of The Natural Segment Of The Retained Earnings Segment?

Answer :

Parent – Do no enable.
Budget – Yes.
Posting – Yes.
Account Type – Ownership/Stock.
Question 26. What Is The Purpose Of Translation Adjustment Account?

Answer :

If you translate your useful forex balances into some other forex for reporting, or in case you revalue overseas foreign money-dominated balances, you ought to specify a translation adjustment account.

Parent – Do no enable.
Budget – Yes.
Posting – Yes.
Account Type – Ownership/Stock.
Oracle Apps DBA Interview Questions
Question 27. What Is The Purpose Of/specific Feature Of The Net Income Account?

Answer :

Net earnings (NI) is a corporation's overall income (or earnings); internet income is calculated via taking sales and subtracting the fees of doing commercial enterprise including depreciation, interest, taxes and other costs. Net income additionally refers to an man or woman's income after taking taxes and deductions into account.

Oracle 11g Interview Questions
Question 28. What Is The Purpose Of The Transaction Calendar?

Answer :

Transaction calendar is described for the purpose of enabling common balance processing. Transaction calendar is created optionally with valid enterprise days noted.

Question 29. In Order To Allow Unbalances Juurnal Posting What Action Is Required At Set Of Book Definition Level / What Is A Suspense Account And Its Purpose?

Answer :

If you choose to allow posting of out-of-balance/unbalanced journal entries, GL routinely posts the difference to Suspense Account. However, the Suspense Account check container must be checked and an Account to be supplied for this selection to paintings during the introduction of set of books.

If you have got more than one businesses or balancing entities within a set of books, GL robotically creates a suspense account for every balancing entity.

Oracle Workflow Interview Questions