1Z1-1004 Exam Training Practice Tests (Oracle Financials Cloud: General Ledger 2018 Implementation Essentials)]

Question 1

All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance.
They do perform intercompany accounting. What is Oracle's recommended approach to performing consolidations?

A. Use Oracle Hyperion Financial Management for this type of complex consolidation B. Define multiple ledgers for consolidation and report on ledger set C. Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger. D. Use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment

Correct Answer: A

Question 2

Most of the accounting entries for transactions form your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.
At what level can you override the default accounting attribute assignment?

A. Event Class B. Event Type C. Journal Line Rule D. Journal Entry E. Journal Entry Rule Set

Correct Answer: C

Question 3

The expense account of airfare was erroneously assigned to the account type "Liability". Which method should you choose to fix the problem?

A. Run the "Segment Value Inheritance" program B. Run the "Update Balance Cube Chart of the Accounting Dimension" program C. Run the "Correct Misclassified Account" program D. Deactivate the value

Correct Answer: C

Question 4

Which feature outside of reporting and analysis leverages the Essbase cube?

A. revaluations and translation to revalue and translate currencies stored in the Essbase cube B. journal entries and journal approval to create journals that update balances to the cube directly C. calculation manager to perform allocations based on multidimensional balances and budgets D. period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync

Correct Answer: A

Question 5

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 until you 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 of accounts D. The Segment Value Security rules do not take effect until you assign the rules to users and products

Correct Answer: A,B

Question 6

You want to define an allocation rule where segment values are constants for rules and formulas. What should you do?

A. Always use the Outer Point of View (POV) B. Only specify segment values in formulas C. Never use the Outer Point of View (POV) D. Specify Run Time Prompts (RTP)

Correct Answer: D

Question 7

Which two methods can your General Ledger accountants use to more easily view large amounts of data contained in the tables in their work areas? (Choose two.)

A. Run a Business Intelligence Publisher report with Excel as the output format B. Use the Freeze feauture on the tables to scroll through large amounts of data C. Detach the table to resize it to the maximum size of the monitor. D. Export the table to Excel

Correct Answer: B,C

Question 8

Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses in Australia, New Zealand, and Singapore with a ledger in each country with a Corporate chart of account instance that has four segments. Which three statements are true regarding the creation of a control budget? (Choose three.)

A. A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand, and Singapore B. A control budget can be associated with a different calendar than accounting calendar C. Control budgets are always absolute to generate encumbrance accounting D. A control budget can allow override rules only if the control level is absolute E. The control budget structure has all the chart of account segments as budget segments

Correct Answer: B,C,D

Oracle Financials Cloud: General Ledger 2018 Implementation Essentials - 1Z1-1004 Exam Practice Test