Oracle 1z0-1054-21 Exam Questions

Oracle.1z0-1054-21.v2022-02-12.
q36
Exam Code: 1Z0-1054-21

Oracle Financials Cloud: General Ledger 2021 Implementation
Exam Name:
Essentials
Certification Provider: Oracle
Free Question
36
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Version: v2022-02-12
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NEW QUESTION: 1
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 legalentities 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 abalancing 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.
D. You should assign a balancingsegment value to identify each legal entity in the US Ledger and
assign the balancing segment values to the ledger in the UK and France.
Answer: (SHOW ANSWER)
NEW QUESTION: 2
You want to process multiple allocations at thesame time. What feature do you use?
A. Formulas
B. General Ledger journal entries
C. Point of View (POV)
D. RuleSets
NEW QUESTION: 3
You are implementing a multipillar implementation of both HCM Cloud and ERP Cloud.You are
implementing ERP first followed by HCM Cloud. You want to ensure your ledgers and chart of
accounts are correctly defined. What should you do? (Choose three)
A. Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts
segment values and hierarchies
B. Create your chart of accounts in the following order: value sets, COA structure, and instance
before assigning values to the value sets
C. Deploy your chart of accounts
D. Use HCM's Enterprise Structure Configurator (ESC) first
E. Use the Rapid Implementation spreadsheet when creating your enterprise structure
NEW QUESTION: 4
You want to monitor the close process of all your financial subledgers and ledgers. How can you
quickly obtain this information?
A. Use the Manage Accounting Periods page to view the status of all subledgers and ledgers
B. Use Close Monitor in General Accounting Dashboard
C. Run Closing Status reports
D. Accesseach subledgers' calendar and General Ledger's Manage Accounting Periods page to
view the status of each period
NEW QUESTION: 5
Your customer has a large number of legal entities. The legal entity values are defined in the
company segment which representsthe primary balancing segment. They want to easily create
eliminating entries for their intercompany activity. What would you recommend?
A. Define an intercompany segment in the chart of accounts. The Intercompany module and the
Intercompany balancing feature in general ledger and subledger accounting will automatically
populate the intercompany segment which the balancing segment value of the legal entity with
which you are trading
B. Define an intercompany segment and qualify it as the second balancing segment to make sure
all entries are balanced for the primary balancing segment and intercompany segment
C. There is no need to define an intercompany segment, the Intercompany module keeps track of
the trading partners for you based on the intercompany rules to define
D. There is no need to define an intercompany segment. You can track the intercompany trading
partner using distinct intercompany receivable/payable natural accounts to identify the trading
partner
NEW QUESTION: 6
Budgetary control for accounts 5020 and 5021 has a budget of $90,000USD each for the year
2012. The accounts also have balances on obligation of $10,000 USD for each and an expenditure
of $20,000 USD for each. A Fund of $50,000 USD is available for account 5010 only. You have run
the Encumbrance Year End Carry Forward process for obligation from the last period of the year
2012 to the first period of year 2013.
Which statement is true?
A. The Encumbrance Year End Carry Forward processwill run for all the accounts to carry forward
the general ledger balances
B. If you have included 5020 and5021 in the encumbrance rule, the budget balances $90,000
USD, obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.
C. If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and
expenditure $20,000 USD only will be carried forward.
D. 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 be carried forward
E. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of
$10,000 USD will becarried forward
NEW QUESTION: 7
You are creating values for the chart of account value set that you are planning to use for the
account segment within yourChart 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. The Account Type qualifier has not been enabled when defining the value set
C. You have not set the Allow Posting attribute for the value set
D. You are creating values before assigning the value set to the structure
NEW QUESTION: 8
What is the most efficient way to add a new year to the accounting calendar?
A. Add the periods manually
B. The application automatically populates the next year when you open the first period of a new
fiscal year
C. Use the Add Year button
D. Import the periods from a spreadsheet
NEW QUESTION: 9
You are using Oracle General Ledger (GL), Oracle Payables and Oracle Receivables and would
like to prevent the closure of the GL period if the corresponding subledger period is not closed.
How will you achieve this?
A. Set the ORA_GL_INCLD_STRICT_PRD_CLOSE profile option to yes
B. Opt in to the PreventPeriod Close option for the offering
C. Nothing, this option is enabled automatically
D. Set the relevant option on the Specify Ledger Options page
NEW QUESTION: 10
A. You can only define balancing rules for different journals' sources. You cannot define balancing
rules for different journal categories.
B. All ledgers engaged in an intercompany transaction must share the same chart of accounts in
order to define balancing rules.
C. You can define different rules for different charts of accounts, ledgers, legal entities, and primary
balancing segment values.ys
D. You can define different balancing rules for different combinations of journal sources, journal
categories, and transaction types.
NEW QUESTION: 11
Before implementing Financials Cloud, your customerused 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 BI Publisher reports called Intercompany Transaction Summary and Account Details to
automatically reconcile intercompany balances
D. Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables
and payables accounts that are out of balance
E. Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the
intercompany payables and receivables balances
Explanation
https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9DAAC7706212CF48E040D30A6881766A
NEW QUESTION: 12
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 as01-110-7699-00; 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. The general accountant has a segment value security rule assigned which restricts access to
that cost center
B. A cross validation rule is in place to prevent the resulting combination from being created
C. There is a primary balancing segment attached to the legal entity of the primary ledger
D. The general accountant does not have the Financials Application administrator role assigned
and, therefore, has view-only privileges on this page
NEW QUESTION: 13
Your customer is planning to have three balancing segments for generating balance sheets and
income statements at cost center segment and program segment levels.
Which tworecommendations would you give your customer? (Choose two.)
A. Additional intercompany rules will need to be defined for the two additional balancing segments
B. 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
C. Additional intercompany balancing and clearing options will need to be defined
D. When entering journals manually, the customer will need to make sure that debits and credits
are equalacross all balancing segments because the system will not automatically balance the
journal
Explanation
https://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20375/F350915AN26721.htm
NEW QUESTION: 14
You need toset 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. Fiscal
B. Period
C. Calendar
D. Year
NEW QUESTION: 15
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 performedbefore a tree version can be set to Active
C. Accounting Configuration was not submitted
D. Chart of accounts was not deployed
Explanation
https://docs.oracle.com/cd/E51367_01/financialsop_gs/OAACT/F1005378AN156C9.htm
NEW QUESTION: 16
You are defining an income statement report. You want to allow viewers ofthe report to be able to
drill down from report balances to the underlying transactions. What so you need to enable?
A. Report Functions
B. Nothing. All report balances are drillable in all FR Studio reports
C. Drill Through in Grid Properties
D. Allow Expansion
Answer: C (LEAVE A REPLY)
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NEW QUESTION: 17
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. Journals Reports
B. Aging Reports
C. Account Analysis Reports
D. anOnline Transactional Business Intelligence (OTBI) report to create ad hoc queries on
transactions and balances
NEW QUESTION: 18
When creating your financial statements, you would like to have a chart, such as a bar graph,
included in the report output.
Which two reporting tools allow you to achieve this? (Choose two.)
A. Financial Statement Generator
B. Financial Reporting Studio
C. Smart View
D. Account Inspector
NEW QUESTION: 19
You entered the following information in the Companiesand Legal Entities tab of the Rapid
Implementation Spreadsheet:
Assuming currency is left blank in the Ledger worksheet, how many Ledgers will the process
create?
A. 6
B. 3
C. 5
D. 4
NEW QUESTION: 20
A. Smart View
B. Account Monitor
C. Application Development FrameworkDesktop Integration Budget Balances Report
D. Account Inspector
NEW QUESTION: 21
During implementation, a consultant accidentally designated the cost center segment as the
natural account.
Values have already been assigned and journals have been posted.
Select the process that allows you to change the qualifier back to cost center qualifier.
A. Delete the chart of accounts and create a new one.
B. Create a new chart of accounts.
C. Deletethe segment and create a new segment with the correct qualifier.
D. Change and save the segment qualifier.
NEW QUESTION: 22
Management has added a requirement to segregate the duties oftransferring journals to the
General Ledger from the posting function. Which two new features allow this segregation?
(Choose two.)
A. For previously scheduled automated processes, it is recommended to cancel and rescheduled
the process for the option to be effective.
B. Must have separate user defined roles using the privilege
XLA_CREATE_GENERAL_LEDGER_AND_SUBLEDGER _JOURNALS.
C. Uncheck the Enable Posting from the Manage Subledger Accounting Options task.
D. Journal entry spreadsheets are not impacted by this new function.
NEW QUESTION: 23
On which three occasions are Essbase balances updated? (Choose three.)
A. every time you open a new period
B. every time you run the batch program called "Update Essbase Balances"
C. every time journals are posted to the general ledger
D. at report run-time
E. every time the tree version is published
NEW QUESTION: 24
Most of the accounting entries for transactions form your source system use
TRANSACTION_AMOUNT as a sourceof 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 Type
B. JournalEntry
C. Journal Entry Rule Set
D. Journal Line Rule
E. Event Class
NEW QUESTION: 25
You have enabled budgetary control and have a control budget set to Advisory control level.
ForSeptember
2016, your budget for a given account combination is $5,000 USD. In the same month, there is an
approved requisition for that account of $900 and an approved purchase order for that account of
$2,500 USD. There is also a General Ledger adjustment journal entry for that account of $1,600
USD. An approved purchase order line of $400 USD is then cancelled. And an invoice is matched
to the purchase order for $2,100 USD. Which two statements are true? (Choose two.)
A. Funds reservation only happens for non-matched invoices, so the system will not reserve funds
B. As there are cancellations for $400 USD, the system will partially reserve the funds in
September 2016 and fully reserve it in October 2016
C. Purchase order encumbrance will be released for $2,100 USD
D. No change
E. The system always consumes budget of future periods if the limit for the current period is
expired, so October 2016 budget will be considered for reservation
NEW QUESTION: 26
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 notbe able to access any
values until you grant access to users and products
B. When you enable or disable Segment Value Security, you do not need to redeploy your chart of
accounts
C. The Segment Value Security rules do not take effect until you assign the rules to users and
products
D. You can use hierarchies to define rules
NEW QUESTION: 27
You want to define an allocation rule where segment values are constants for rules and formulas.
Whatshould you do?
A. Never use the Outer Point of View (POV)
B. Always use the Outer Point of View (POV)
C. Specify Run Time Prompts (RTP)
D. Only specify segment values in formulas
Explanation
A Point of View is used to define dimension values that remain fixed throughout the entire
allocation rule. For example, assume a chart of accounts includes a segment for future use. The
Point of View fixes the value to be the default value so that the dimension value does not have to
be selected while defining the source, basis, target, offset, or allocation range
NEW QUESTION: 28
You have set up a supporting reference with balances to capture revenue by account manager.
Which option should you use to view the supporting reference balances?
A. an OTBI analysis
B. a SmartView analysis
C. General Ledger inquiries and reports
D. an Account Group
NEW QUESTION: 29
You have exported data from your budgeting application into a .csv file.
What should you use to load that data into General Ledger?
A. Application Developer Framework Desktop Integrator
B. File Based Data Import
C. The budget journal spreadsheet
D. Enterprise Resource Budget Integrator
NEW QUESTION: 30
A. Define Journal Conversion Rules that include subledgers in order to transfer subledger
transactions
B. DefineJournal Conversion Rules that exclude subledgers
C. Assign a Subledger Accounting Method to the secondary ledger
D. Define Supporting References with balances
E. Ensure that the Accounting Calendar and Currency are the same as the Primary Ledger
NEW QUESTION: 31
How can your Accounting Manager expedite journal processing during the time-critical month-end
close?
A. by running the Journals report using Business Intelligence Publisher
B. by using the Close Status monitor to drill down on the close status across ledgers
C. by creating an ad hoc query on journals using Oracle Transactional Business Intelligence
(OTBI)
D. by using the Journals region to view journals Requiring Attention, RequiringApproval, and
Pending Approval from Other
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NEW QUESTION: 32
Which reporting tool is best suited for submitting high-volume transactional reports, such as Invoice
Registers or Trial Balance reports, that can be configured to extract the data in Rich Text Format or
xml?
A. Business Intelligence Publisher (BI Publisher)
B. Oracle Data Visualization Cloud Service
C. Oracle Transactional Business Intelligence (OTBI)
D. Financial Reporting Center
E. Smart View
NEW QUESTION: 33
Which AMX builder method is most effective in routing the journals to the Accounting Manager
when his subordinate, The General Accountant, enters a journal?
A. Cost center based approval
B. Supervisory levelapproval
C. Dynamic Approval Groups
D. Management Chain approval
E. Approval Groups
NEW QUESTION: 34
You are creating values for the chart of account value set that you are planning to use for the
account segment within yourChart of Accounts.
You are not able to assign an Account Type. What is the reason for this?
A. The Account Type qualifier has not been enabled when defining the value set
B. You have not set the Allow Budgeting attribute for the value set
C. You have not set the Allow Posting attribute for the value set
D. You are creating values before assigning the value set to the structure
NEW QUESTION: 35
You want to specify Intercompany System Options. Which three factors should you consider?
(Choose three.)
A. the approvers who will approve intercompany transactions
B. whether to allow receivers to reject intercompany transactions
C. automatic or manual batch numbering and the maximum transaction amount
D. whether to enforce an enterprise-widecurrency or allow intercompany transactions in local
currencies
E. automatic or manual batch numbering and the minimum transaction amount
NEW QUESTION: 36
You need to define multiple allocation rules as efficiency as possible.
Which three components can be reused across allocation rules? (Choose three.)
A. Point of View (POV)
B. Formulas
C. RuleSets
D. Run Time Prompts (RTP)
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