1z0-1054-20 Practice Test Questions Answers Updated 103 Questions
1z0-1054-20 dumps & Oracle Financials Cloud Sure Practice with 103 Questions
How to Study the Oracle 1z0-1054-20: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials Exam
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NEW QUESTION 49
Your Financial Analyst needs to interactively analyze General Ledger balances with the ability to drill down to originating transactions. Which three features facilitate this? (Choose three.)
- A. Sunburst reports
- B. Smart View
- C. Online Transactional Business Intelligence
- D. Account Monitor
- E. Account Inspector
Answer: B,D,E
NEW QUESTION 50
Your client has been using Budgetary Control for six months. Now, they want to use the Spend Authorization.
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After opting in the new feature Spend Authorization with Budgetary Control, what additional three actions need to be accomplished to activate this feature? (Choose three.)
- A. Rebuild the GL Balances Cube
- B. Enable Payment Request Subtypes
- C. Create a Payment Process Profile
- D. Enable spend authorization
- E. Rebuild the Budgetary Control Cube
Answer: B,D,E
NEW QUESTION 51
You want to specify Intercompany System Options. Which three factors should you consider? (Choose three.)
- A. the approvers who will approve intercompany transactions
- B. automatic or manual batch numbering and the minimum transaction amount
- C. whether to allow receivers to reject intercompany transactions
- D. whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies
- E. automatic or manual batch numbering and the maximum transaction amount
Answer: B,C,D
NEW QUESTION 52
The general accountant is trying to update the cost center for the Default Suspense Account in the Ledger Options to match the cost center for the Rounding Account.
The rounding account is showing as 01-110-7699-00; however, 110 is not appearing in the List of Values for the accountant to select in the Suspense Account.
What is the reason for this?
- A. A cross validation rule is in place to prevent the resulting combination from being created
- B. The general accountant does not have the Financials Application administrator role assigned and, therefore, has view-only privileges on this page
- C. There is a primary balancing segment attached to the legal entity of the primary ledger
- D. The general accountant has a segment value security rule assigned which restricts access to that cost center
Answer: A
Explanation:
Explanation/Reference: https://docs.oracle.com/en/cloud/saas/financials/20c/faiac/implementing-accounting-hub.pdf
NEW QUESTION 53
You need to set up a calendar for fiscal year Apr-XX to March-YY where YY is the following year, and you would like the periods to be named according to the year they fall in.
What Calendar format should you choose?
- A. Period
- B. Year
- C. Fiscal
- D. Calendar
Answer: A
NEW QUESTION 54
You want to achieve multi-step cascading allocations, which feature do you use?
- A. General Ledger journal entries
- B. Formulas
- C. Point of View (POV)
- D. RuleSets
Answer: D
NEW QUESTION 55
In which two ways can your users personalize the Springboards and Work Areas to suit their individual working styles? (Choose two.)
- A. Users have very little control configuring their Springboards and Work Areas; they can only resize columns
- B. They can format certain tables by hiding and showing columns, moving columns, and resizing columns
- C. They can have the System Administrator configuring pages for them using Page Composer
- D. They can use "+" under the Apps section of the News Feed homepage
Answer: B,C
NEW QUESTION 56
Your customer is planning to have three balancing segments for generating balance sheets and income statements at cost center segment and program segment levels.
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Which two recommendations would you give your customer? (Choose two.)
- A. Additional intercompany rules will need to be defined for the two additional balancing segments
- B. When entering journals manually, the customer will need to make sure that debits and credits are equal across all balancing segments because the system will not automatically balance the journal
- C. Every journal where debits do not equal credits across the three balancing segments will result in the system generating extra journal lines to balance the entry
- D. Additional intercompany balancing and clearing options will need to be defined
Answer: A,C
Explanation:
Explanation
https://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20375/F350915AN26721.htm
NEW QUESTION 57
You need to define multiple allocation rules as efficiency as possible.
Which three components can be reused across allocation rules? (Choose three.)
- A. Run Time Prompts (RTP)
- B. Formulas
- C. Point of View (POV)
- D. RuleSets
Answer: A,B,D
NEW QUESTION 58
You entered a cross validation rule to prevent the balance sheet cost center (000) being used with Profit and Loss Accounts (4000-ZZZZ).
-
The following combinations exist in the Code Combination table:
01-000-4110-00, 01-000-5299-000, 01-000-5105-000 and 01-000-7640-00
Which two statements are true regarding cross-validation rules? (Choose two.)
- A. The rules will validate and apply to new and existing accounts
- B. There is no need to create cross-validation rules if Dynamic Combination Creation Allowed is not enabled for your chart of accounts instance
- C. You need to run the Cross-Validation Rule Violations process to allow rules to apply to existing combinations that violate rules
- D. You need to run the Cross-Validation Rules process to list and optionally disable combinations that violate rules
- E. The rules validate and apply to new accounts only
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Answer: A,C
NEW QUESTION 59
You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What so you need to enable?
- A. Allow Expansion
- B. Drill Through in Grid Properties
- C. Report Functions
- D. Nothing. All report balances are drillable in all FR Studio reports
Answer: B
NEW QUESTION 60
You are reconciling your subledger balances and you need a report that includes beginning and ending account balances and all transactions that constitute the account's activities.
What type of report will provide this type of information?
- A. Account Analysis Reports
- B. Journals Reports
- C. an Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances
- D. Aging Reports
Answer: A
NEW QUESTION 61
You are creating values for the chart of account value set that you are planning to use for the account segment within your Chart of Accounts.
You are not able to assign an Account Type. What is the reason for this?
- A. You have not set the Allow Budgeting attribute for the value set
- B. You are creating values before assigning the value set to the structure
- C. You have not set the Allow Posting attribute for the value set
- D. The Account Type qualifier has not been enabled when defining the value set
Answer: C
NEW QUESTION 62
Your company has a legal entity in the UK, US, and CanadA. They can all share the same chart of accounts but are required to transact and report in their local currency.
What is the minimum number of ledgers you need and why?
- A. Three, because each requires a different currency
- B. One, because they can all share the same chart of accounts
- C. Two, because the US and Canada can share the same ledger because they are in North America
- D. Four, because the UK has statutory requirements and you will need a separate ledger for statutory reporting
Answer: B
NEW QUESTION 63
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-ledger intercompany transactions and single-ledger Intercompany journals
- C. They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub
- D. Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management
Answer: B,D
NEW QUESTION 64
When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two).
- A. Smart View
- B. Oracle Financial Statement Generator
- C. Financial Reporting Center
- D. Financial Reporting Studio
Answer: C,D
Explanation:
Explanation/Reference: https://docs.oracle.com/en/cloud/saas/financials/20c/faugl/financial-reporting-and- analysis.html#FAUGL513446
NEW QUESTION 65
All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships. What is Oracle's recommended approach to performing consolidations?
- A. Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program
- B. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then creates a ledger set across all ledgers and report on the ledger set.
- C. Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.
- D. Use Oracle Hyperion Financial Management for this type of complex consolidation.
Answer: A
NEW QUESTION 66
You need to create a month-end reporting package for an upcoming Audit Committee meeting, you have 10 financial reports that you want to share with executives and auditors that are nicely formatted.
Identify the two Oracle recommended ways to accomplish this. (Choose two.)
- A. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book
- B. Use a report batch to run reports at a specific time to create a set of snapshot reports
- C. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet
- D. Use OTBI to create multiple reports that you save to a folder that only the users can access
- E. Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee
Answer: A,B
NEW QUESTION 67
Which subject area has been enhanced to allow you to drill down from OTBI General Ledger Reports to a General Ledger journal?
- A. General Ledger - Journal Balances Real Time
- B. General Ledger - Journals Real Time
- C. General Ledger - Journal Transaction Balances Real Time
- D. General Ledger - Summary Journals Real Time
Answer: B
Explanation:
Explanation
https://www.oracle.com/webfolder/technetwork/tutorials/tutorial/cloud/r13/wn/r13-2018-financials-wn.htm#F43
NEW QUESTION 68
Your company has two legal entities in the US (Balancing Segment Values [BSV] 101 and 102), one legal entity in France (BSV 401), and one legal entity in the UK (BSV 402).
Both US legal entities share the same ledger, whereas the UK and France have their own ledgers.
Assuming intercompany transactions are not being entered, what is the minimal action you can take and still configure the ledgers correctly?
- A. You should assign a balancing segment value to identify each legal entity in each ledger.
- B. You should assign the balancing segment value to the ledger in the US and assign a balancing segment value to identify each legal entity in the UK and France ledgers.
- C. You should assign a balancing segment value to identify each legal entity in the US Ledger and assign the balancing segment values to the ledger in the UK and France.
- D. You should assign a balancing segment value to identify each legal entity in the US ledger.
Answer: B
NEW QUESTION 69
You want to define an allocation rule where segment values are constants for rules and formulas.
What should you do?
- A. Only specify segment values in formulas
- B. Specify Run Time Prompts (RTP)
- C. Use the Point of View (POV) tab of the Allocation Wizard
- D. Never use the Outer Point of View (POV)
Answer: D
NEW QUESTION 70
What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availability? (Choose two.)
- A. The purchase order is canceled or finally closed or rejected without performing any receipt or invoice
- B. The requisition reserved successfully undergoes amendment and is rejected in the reapproval
- C. When the purchase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the extent of the unreceived amount
- D. When the requisition is set to accrue at period end and partially billed and then canceled or finally closed, encumbrance goes back to the budget to the extent of the unbilled amount
Answer: A,C
NEW QUESTION 71
You have exported data from your budgeting application into a .csv file.
What should you use to load that data into General Ledger?
- A. File Based Data Import
- B. Application Developer Framework Desktop Integrator
- C. Enterprise Resource Budget Integrator
- D. The budget journal spreadsheet
Answer: B
NEW QUESTION 72
Your customer wants to create fully balanced balance sheets for the Company, Line of Business, and Product segments for both financial and management reporting.
What is Oracle's recommended method for doing this?
- A. Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting
- B. Create two segments where the first segment represents the concatenation of Company and Line of Business, and then enable secondary tracking for the Product segment
- C. Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions
- D. Create three segments for the Company, Line of Business, and Product segments and qualify them as primary balancing segment, second, and third balancing segments, respectively
Answer: D
NEW QUESTION 73
Before implementing Financials Cloud, your customer used to manually reconcile their intercompany payables and 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 Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance
- D. Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances
- E. Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances
Answer: C
Explanation:
Explanation
https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9DAAC7706212CF48E040D30A6881766A
NEW QUESTION 74
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