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Pass Oracle 1z0-1054-22 Exam With Practice Test Questions Dumps Bundle
Oracle 1z0-1054-22 Exam Syllabus Topics:
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NEW QUESTION 34
The Accounting Manager requests that a schedule be created to automatically post journals from subledgers at different times. Which journal attribute should you use to set the automatic posting criteria?
- A. Journal Batch
- B. Journal Source
- C. Journal Description
- D. Journal Category
Answer: B
NEW QUESTION 35
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. Additional intercompany balancing and clearing options will need to be defined
- 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. 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
Answer: A,C
Explanation:
https://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20375/F350915AN26721.htm
NEW QUESTION 36
Which two statements are true regarding how Intercompany Balancing Rule are defined? (Choose two.)
- A. You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types.
- 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 only define balancing rules for different journals' sources. You cannot define balancing rules for different journal categories.
Answer: A,B
NEW QUESTION 37
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 process will run for all the accounts to carry forward the general ledger balances
- B. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward
- C. 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.
- 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 obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.
Answer: D
NEW QUESTION 38
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. Enable Payment Request Subtypes
- B. Create a Payment Process Profile
- C. Rebuild the GL Balances Cube
- D. Enable spend authorization
- E. Rebuild the Budgetary Control Cube
Answer: A,D,E
NEW QUESTION 39
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 segment and create a new segment with the correct qualifier.
- B. Delete the chart of accounts and create a new one.
- C. Change and save the segment qualifier.
- D. Create a new chart of accounts.
Answer: B
NEW QUESTION 40
Your customer wants to use a clearing company to automatically balance intercompany entries.
Which three statements are true regarding the use of a clearing company value? (Choose three.)
- A. If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity
- B. You must map legal entities to balancing segment values in order to use a clearing company
- C. If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal
- D. Clearing companies are not supported
- E. If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger
Answer: A,C,E
NEW QUESTION 41
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 three segments for the Company, Line of Business, and Product segments and qualify them as primary balancing segment, second, and third balancing segments, respectively
- 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 two segments where the first segment represents the concatenation of Company and Line of Business, and then enable secondary tracking for the Product segment
Answer: B
NEW QUESTION 42
Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation. What feature can you use to be proactively notified of account anomalies in a more timely manner?
- A. Account Monitor
- B. Smart View
- C. Account Inspector and its charts
- D. Financial Reports with Embedded charts
Answer: A
NEW QUESTION 43
Which two statements are TRUE regarding the Balances Cubes in General Ledger? (Choose two.)
- A. A new Balances Cube is created for a unique combination of Ledger and Currency
- B. New dimensions can be added to a General Ledger Balances Cube
- C. They are updated automatically when the Translation process is run
- D. They are updated automatically when the Revaluation process is run
- E. They are updated automatically when the General Ledger period is opened
Answer: B,D
NEW QUESTION 44
You want to prevent intercompany transactions from being entered during the last day of the close. What should you do?
- A. Freeze the Intercompany journal source in General Ledger
- B. Close Intercompany periods in Fusion Intercompany
- C. Close the General Ledger period in the Manager Accounting Periods page
- D. Close all subledger periods
Answer: B
NEW QUESTION 45
You entered the following information in the Companies and 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. 0
- B. 1
- C. 2
- D. 3
Answer: C
NEW QUESTION 46
Your customer uses Financials Cloud, Projects, Inventory, and SCM.
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 configured separately
- B. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product
- C. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects
- D. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals
Answer: A,D
NEW QUESTION 47
You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?
- A. An Audit process needs to be successfully performed before a tree version can be set to Active
- B. Accounting Configuration was not submitted
- C. Chart of accounts was not deployed
- D. Two tree versions were not defined
Answer: A
Explanation:
https://docs.oracle.com/cd/E51367_01/financialsop_gs/OAACT/F1005378AN156C9.htm
NEW QUESTION 48
Your enterprise structure has one ledger and two business units. Business unit one wants to enable budgetary control for Requisitioning only on Procure-to-Pay Business Functions and business unit two wants to enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions. Which two statements are correct? (Choose two.)
- A. Define budgetary control at ledger level and only encumbrance control at the business units
- B. While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving
- C. While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing
- D. While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning
- E. Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit
- F. Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving
Answer: B,F
NEW QUESTION 49
You want to achieve multi-step cascading allocations, which feature do you use?
- A. RuleSets
- B. General Ledger journal entries
- C. Point of View (POV)
- D. Formulas
Answer: A
Explanation:
Reference:
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NEW QUESTION 50
Your customer has many eliminating entries to eliminate intercompany balances. The General Ledger does not include a purpose-built Consolidation feature. How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?
- A. Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period
- B. Create a manual journal that includes the eliminating entries, and then create a copy of the journal batch every period
- C. Use the spreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period
- D. There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management
Answer: A
NEW QUESTION 51
You need to define multiple allocation rules as efficiency as possible.
Which three components can be reused across allocation rules? (Choose three.)
- A. RuleSets
- B. Formulas
- C. Run Time Prompts (RTP)
- D. Point of View (POV)
Answer: A,B,C
NEW QUESTION 52
You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment.
What is Oracle's recommended method to define this chart of accounts?
- A. Define two different charts of accounts
- B. Define the company segment only and qualify it as both the primary balancing segment and intercompany segment
- C. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance
- D. Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level
Answer: D
NEW QUESTION 53
A subsidiary company, in a highly regulated country, where there is a legal requirement to produce fiscal reports under local GAAP, is about to configure their General Ledger.
Given the following:
Subledgers transferring to general ledger must use the local currency.
There is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS).
Which two ledger types should be configured to address this reporting requirement? (Choose two.)
- A. a reporting currency with the local accounting convention
- B. a primary ledger with the local accounting convention
- C. a secondary ledger with the IFRS accounting convention
- D. a reporting currency with the IFRS accounting convention
- E. a primary ledger with the IFRS accounting convention
Answer: A,E
NEW QUESTION 54
You just submitted the Accounting Configuration. What two things must happen before you can enter journals? (Choose two.)
- A. You must re-deploy the chart of accounts
- B. You must define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration
- C. A Data Access Set with full read/write access to the ledger is automatically created
- D. You must assign the job role and data security context to each user
Answer: C,D
NEW QUESTION 55
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