1z0-1054-20 Training & Certification Get Latest Oracle Financials Cloud Updated on Apr 10, 2022
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- Europe - 85,500 Euro
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What is the duration, language, and format of Oracle 1z0-1054-20: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials Exam
- Chapter 2: 45%
- There is a time limit of 85 minutes for the exam.
- Passing score:
- Chapter 3: 33%
- This exam consists of 55 questions.
Oracle cloud certifications require periodic recertification. To hold your certification inactive condition, you must update to the new edition within 1 year of Oracle's credential withdrawal.
NEW QUESTION 45
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: C
NEW QUESTION 46
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. Export the table to Excel
- B. Run a Business Intelligence Publisher report with Excel as the output format
- C. Use the Freeze feature on the tables to scroll through large amounts of data
- D. Detach the table to resize it to the maximum size of the monitor
Answer: B,D
NEW QUESTION 47
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. Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level
- C. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance
- D. Define the company segment only and qualify it as both the primary balancing segment and intercompany segment
Answer: B
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 control for business unit two to disable control for Requisitioning, Purchasing, and Receiving
- B. While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving
- C. Define budgetary control at ledger level and only encumbrance control at the business units
- D. While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning
- E. While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing
- F. Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit
Answer: A,B
NEW QUESTION 49
You want to enter budget data in General Ledger Cloud. Which method is not supported?
- A. File-based Data Import
- B. Direct budget balance updates from a Financial Statement in Smart View
- C. Entering budget journals
- D. Application Development Framework Desktop Integration (ADFdi)
Answer: C
NEW QUESTION 50
You just submitted the Accounting Configuration. What two things must happen before you can enter journals? (Choose two.)
- A. A Data Access Set with full read/write access to the ledger is automatically created
- B. You must define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration
- C. You must assign the job role and data security context to each user
- D. You must re-deploy the chart of accounts
Answer: A,C
NEW QUESTION 51
Encumbrance accounting is enabled for your ledger. An encumbrance journal dated 3/15/19 was recorded for a purchase order.
The invoice was entered on 5/5/19, but the invoice accounting date was 4/20/19. The encumbrance journal for liquidating the purchase order encumbrance is dated 5/5/19.
What is causing this?
- A. The current transaction accounting date was set up under the encumbrance accounting Default Date Rule
- B. The actual accounting date was set up under the encumbrance accounting Default Date Rule
- C. The system date was set up under the encumbrance accounting Default Date Rule
- D. The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule
- E. The subledger accounting option is set to system date
Answer: A
NEW QUESTION 52
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. Create a new chart of accounts.
- C. Delete the chart of accounts and create a new one.
- D. Change and save the segment qualifier.
Answer: C
NEW QUESTION 53
You have a requirement for the Intercompany Provider and Receiver distribution accounts to be created automatically for all intercompany transactions.
What should you configure?
- A. a Provider and Receiver distribution set
- B. the AutoAccounting Definition
- C. Intercompany transaction type default accounts
- D. the Transaction Account Definition
Answer: A
NEW QUESTION 54
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:
Explanation
https://docs.oracle.com/cd/E51367_01/financialsop_gs/OAACT/F1005378AN156C9.htm
NEW QUESTION 55
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 can be associated with a different calendar than accounting calendar
- B. A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand, and Singapore
- C. A control budget can allow override rules only if the control level is absolute
- D. Control budgets are always absolute to generate encumbrance accounting
- E. The control budget structure has all the chart of account segments as budget segments
Answer: A,C,D
NEW QUESTION 56
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. an Account Group
- D. General Ledger inquiries and reports
Answer: A
NEW QUESTION 57
Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)
- A. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals
- 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. Each product has its own Intercompany Accounting feature that needs to be configured separately
Answer: A,D
NEW QUESTION 58
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 Category
- B. Journal Source
- C. Journal Description
- D. Journal Batch
Answer: B
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. Drill Through in Grid Properties
- B. Nothing. All report balances are drillable in all FR Studio reports
- C. Report Functions
- D. Allow Expansion
Answer: A
NEW QUESTION 60
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 spend authorization
- B. Enable Payment Request Subtypes
- C. Rebuild the Budgetary Control Cube
- D. Rebuild the GL Balances Cube
- E. Create a Payment Process Profile
Answer: A,B,C
NEW QUESTION 61
You are defining an income statement report using Financial Reporting Studio. Users of the report need to be able to analyze the balances directly from the report.
What should you enable to allow this?
- A. Allow Expansion in Report Functions
- B. Drill Through in Grid Properties
- C. Nothing. All report are drillable
- D. Drill Down in Report Functions
Answer: D
NEW QUESTION 62
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. Deploy your chart of accounts
- B. Use the Rapid Implementation spreadsheet when creating your enterprise structure
- C. Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies
- D. Use HCM's Enterprise Structure Configurator (ESC) first
- E. Create your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets
Answer: A,B,D
NEW QUESTION 63
You are defining intercompany balancing rules that are applied to a specific source and category, such as payables and invoices, or a specific intercompany transaction type, such as Intercompany Sales.
Which two statements are correct? (Choose two.)
- A. Set up a chart of accounts rule for every chart of accounts structure you have to ensure that Intercompany Balancing will always find a rule to use to generate balancing accounts.
- B. You can create a rule for all sources and categories by selecting the source "Other" and the category
"Other". - C. If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order:
Ledger, Legal Entity, chart of accounts, and primary balancing segment value. - D. You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work.
Answer: A,B
NEW QUESTION 64
Which two statements are true regarding how Intercompany Balancing Rule are defined? (Choose two.)
- A. You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment values.ys
- B. You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types.
- C. You can only define balancing rules for different journals' sources. You cannot define balancing rules for different journal categories.
- D. All ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules.
Answer: B,D
NEW QUESTION 65
Journal Description Rules are assigned to Subledger Journal Entry Rule Sets.
What are the other three subcomponents of a Subledger Journal Entry Rule Set? (Choose three.)
- A. Chart of Accounts
- B. Accounting Date
- C. Journal Line Rules
- D. Supporting References
- E. Account Rules
Answer: C,D,E
NEW QUESTION 66
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