Oracle Financial Reporting and Analysis Cloud 2017 Implementation Essentials — Question 26

Your customer has different accounting and project accounting periods, and sometimes enters invoices with an invoice date in the open project accounting and closed accounting periods. Which two statements are true about how project accounting and accounting dates will be populated in such invoices? (Choose two.)

Answer options

• A. Accounting date is the same as the original invoice date.
• B. Project accounting date is the same as the original invoice date.
• C. Project accounting date is the first day of the first open project accounting period.
• D. Project accounting date is the last day of the open project accounting period.
• E. Accounting date is the first day of the first open accounting period.

Correct answer: C, E

Explanation

The correct answers are C and E because the project accounting date is determined by the first day of the first open project accounting period, while the accounting date is set to the first day of the first open accounting period. The other options misrepresent how the dates are assigned based on the invoice date.