Oracle Exam 1Z0-342 Topic 9 Question 101 Discussion

Actual exam question for Oracle's 1Z0-342 exam

Question #: 101
Topic #: 9

[All 1Z0-342 Questions]

Your client submitted the Annual Close application to close their fiscal year.

When you close a fiscal year, which AAI Items does the system use?

AGLG4 retained earnings and GLGxx for all GL accounts

BGLG4 retained earnings, GLG6 beginning revenue account, and GLG12 ending profit and loss

CGLG4 retained earnings, GLG12 ending profit and loss, and GLG7 year-end close account

DGLG4 retained earnings and FSxx Interim subtotals

EGLG4 retained earnings, GLG12 ending profit and loss, and the ICCC intercompany account

Show Suggested Answer

Suggested Answer: C

by Noel at Sep 08, 2024, 01:11 AM

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Mozell

9 hours ago

Hmm, this is a tricky one. I'm torn between B and C, but I'll go with C since the inter-company account is often involved in the close. Gotta love those complex accounting procedures!

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29 days ago

I think the answer is B) GLG4 retained earnings, GLG12 ending profit and loss, and GLG7 year-end close account.

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