Oracle 1z0-1054 dumps

Oracle 1z0-1054 Exam Dumps

Oracle Financials Cloud: General Ledger 2022 Implementation Professional
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Exam Code 1z0-1054
Exam Name Oracle Financials Cloud: General Ledger 2022 Implementation Professional
Questions 102 Questions Answers With Explanation
Update Date July 11,2024
Price Was : $81 Today : $45 Was : $99 Today : $55 Was : $117 Today : $65

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Oracle 1z0-1054 Sample Questions

Question # 1

Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompanyentries. What is Oracle’s recommended practice when implementing a new chart of accounts? How manysegments and what segment qualifiers should be used?

A. Define three segments for the company, department, and natural account. The qualifiers for the firstsegment should be primary balancing segment and intercompany segment, cost center segment, andnatural account segment, respectively.
B. Define four segments for the company, department, natural account, and intercompany segment. Thequalifiers should be primary balancing segment, cost center segment, and natural account segment, andintercompany segment, respectively.
C. Define three segments for the company, department, and natural account. The qualifiers should beprimary balancing segment, cost center segment, and natural account segment, respectively.
D. Define five segments for the company, department, natural account, intercompany, and future usesegment. The qualifiers should be primary balancing segment, cost center segment, natural accountsegment, intercompany segment, and no qualifier, respectively.

Question # 2

Your customer uses Financials Cloud, Projects, Inventory and Procurement.Which two statements are true regarding intercompany accounting for these products? (Choose two.)

A. Each product has its own Intercompany Accounting feature that needs to be set up separately
B. Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledgerintercompany transactions and single-ledger Intercompany journals
C. Intercompany Balancing Rules are defined centrally and applied across Financials and Project PortfolioManagement
D. They need to license a separate stand-alone Intercompany product that acts as the IntercompanyAccounting Hub

Question # 3

Which two statements are true regarding how Intercompany Balancing Rule are defined? (Choose two.)

A. All ledgers engaged in an intercompany transaction must share the same chart of accounts in order todefine balancing rules.
B. You can only define balancing rules for different journals’ sources. You cannot define balancing rulesfor different journal categories.
C. You can define different balancing rules for different combinations of journal sources, journalcategories, and transaction types.
D. You can define different rules for different charts of accounts, ledgers, legal entities, and primarybalancing segment values.ys

Question # 4

Budgetary control for accounts 5020 and 5021 has a budget of $90,000USD each for the year 2012. Theaccounts also have balances on obligation of $10,000 USD for each and an expenditure of $20,000 USD foreach. A Fund of $50,000 USD is available for account 5010 only. You have run the Encumbrance Year EndCarry Forward process for obligation from the last period of the year 2012 to the first period of year 2013.Which statement is true?

A. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD,obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will becarried forward
B. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward thegeneral ledger balances
C. If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD andexpenditure $20,000 USD only will be carried forward.
D. If you have included 5020 and 5021 in the encumbrance rule, the budget balances $90,000 USD,obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.
E. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USDwill be carried forward

Question # 5

You operate in a country whose unstable currency makes it unsuitable for managing your day-to-day business.As a consequence, you need to manage your business in a more stable currency while retaining the ability toreport in the unstable local currency. What would be your recommendation when defining ledgers?

A. Run Revaluation as often as you need to the more stable currency and report on the more stablecurrency’s balances
B. Run Revaluation to translate into Statistical Currency
C. Create a secondary ledger that uses a different chart of accounts that is denominated in the more stablecurrency
D. Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency

Question # 6

You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?

A. Two tree versions were not defined
B. An Audit process needs to be successfully performed before a tree version can be set to Active
C. Accounting Configuration was not submitted
D. Chart of accounts was not deployed

Question # 7

How do Cross Validation Rules (CVRs) handle existing violations in the Code Combinations Identification(CCID) table?

A. Nothing has changed. If you have an invalid account combination existing in the table, you mustdeactivate it to prevent further usage
B. CVRs are assigned to the end user role; therefore controlling what account code combination individualscan leverage in the General Ledger and the subledgers
C. CVRs only test new account combinations being inserted into the table. They ignore any invalid accountcombinations already existing in the table
D. If CVR determines that an invalid combination exists in the CCID table, it will automatically disablethat account code combination.

Question # 8

You are implementing Segment Value Security rules. Which two statements are true? (Choose two.)

A. When you enable Segment Value Security on a segment, users will not be able to access any values untilyou grant access to users and products
B. You can use hierarchies to define rules
C. When you enable or disable Segment Value Security, you do not need to redeploy your chart ofaccounts
D. The Segment Value Security rules do not take effect until you assign the rules to users and products

Question # 9

You are creating financial statements and want to have charts, such as a bar graph, automatically inserted toimprove the understanding financial results. How would you achieve this?

A. Use Smart View, which is an Excel Add-on
B. Use Account Inspector that automatically creates graphs on financial balances
C. When viewing the report, download to Excel and use Excel’s Charting features to create your bar graph
D. When designing your financial statement using Financial Report (FR), embed a chart into your report

Question # 10

Before implementing Financials Cloud, your customer used to manually reconcile their intercompany payablesand receivables accounts. What is a more automated approach to do this?

A. Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances
B. In Financials Cloud, you must manually reconcile your intercompany account balances
C. Run the BI Publisher reports called Intercompany Transaction Summary and Account Details toautomatically reconcile intercompany balances
D. Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables andpayables accounts that are out of balance
E. Create a query using Oracle Transactional Business Intelligence (OTBI) that will match theintercompany payables and receivables balances

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