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Oracle 1z0-1054-22 Exam Syllabus Topics:
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NEW QUESTION 47
You just submitted the Accounting Configuration. What two things must happen before you can enter journals? (Choose two.)
- A. You must define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration
- B. You must assign the job role and data security context to each user
- C. You must re-deploy the chart of accounts
- D. A Data Access Set with full read/write access to the ledger is automatically created
Answer: B,D
NEW QUESTION 48
You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results. What is Oracle's recommended practice when this occurs?
- A. Rerun Revaluation and then rerun Translation
- B. Rerun Translation and then reconsolidate your results
- C. Enter another adjusting journal entry in the target currency to true up the balances
- D. Translate only the adjusting journal entry
Answer: B
NEW QUESTION 49
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. 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
- B. Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions
- C. Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting
- 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 50
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 the US Ledger and assign the balancing segment values to the ledger in the UK and France.
- B. You should assign a balancing segment value to identify each legal entity in the US ledger.
- C. You should assign a balancing segment value to identify each legal entity in each ledger.
- D. 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.
Answer: D
NEW QUESTION 51
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 Transaction Account Definition
- C. the AutoAccounting Definition
- D. Intercompany transaction type default accounts
Answer: A
NEW QUESTION 52
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 - Journals Real Time
- B. General Ledger - Journal Balances Real Time
- C. General Ledger - Journal Transaction Balances Real Time
- D. General Ledger - Summary Journals Real Time
Answer: A
Explanation:
https://www.oracle.com/webfolder/technetwork/tutorials/tutorial/cloud/r13/wn/r13-2018-financials-wn.htm#F4376
NEW QUESTION 53
The budget managers specify the budget accounts they want to monitor and decide on percentage threshold of funds availability. Where must you define the details while analyzing budget balances in the Budget Account Monitor page?
- A. Account Group
- B. Budget Controller
- C. Application Development Framework Desktop Integration (ADFdi)
- D. Budget Group
- E. Budget Account Group
Answer: A
NEW QUESTION 54
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 primary ledger with the IFRS accounting convention
- B. a reporting currency with the local accounting convention
- C. a primary ledger with the local accounting convention
- D. a reporting currency with the IFRS accounting convention
- E. a secondary ledger with the IFRS accounting convention
Answer: A,B
NEW QUESTION 55
How do Cross Validation Rules (CVRs) handle existing violations in the Code Combinations Identification (CCID) table?
- A. Nothing has changed. If you have an invalid account combination existing in the table, you must deactivate it to prevent further usage
- B. CVRs only test new account combinations being inserted into the table. They ignore any invalid account combinations already existing in the table
- C. CVRs are assigned to the end user role; therefore controlling what account code combination individuals can leverage in the General Ledger and the subledgers
- D. If CVR determines that an invalid combination exists in the CCID table, it will automatically disable that account code combination.
Answer: B
NEW QUESTION 56
On which three occasions are Essbase balances updated? (Choose three.)
- A. every time the tree version is published
- B. every time journals are posted to the general ledger
- C. at report run-time
- D. every time you run the batch program called "Update Essbase Balances"
- E. every time you open a new period
Answer: A,B,C
NEW QUESTION 57
You are setting up Close Monitor, which compromises a ledger set hierarchy definition.
Which two components of the enterprise structure should the ledgers in the ledger set share? (Choose two.)
- A. Legal Entities, Business Units, and Chart of Accounts
- B. Chart of Accounts
- C. Accounting Calendar
- D. Chart of Accounts and Business Units
- E. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method
Answer: B,C
NEW QUESTION 58
Which feature outside of reporting and analysis leverages the Essbase cube?
- A. calculation manager to perform allocations based on multidimensional balances and budgets
- B. revaluations and translation to revalue and translate currencies stored in the Essbase cube
- C. journal entries and journal approval to create journals that update balances to the cube directly
- D. period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync
Answer: B
NEW QUESTION 59
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 the company segment only and qualify it as both the primary balancing segment and intercompany segment
- B. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance
- C. Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level
- D. Define two different charts of accounts
Answer: C
NEW QUESTION 60
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. Define multiple ledgers for consolidation and report on ledger set
- B. 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.
- C. 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
- D. Use Oracle Hyperion Financial Management for this type of complex consolidation
Answer: C
NEW QUESTION 61
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. Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period
- D. Run Closing Status reports
Answer: D
NEW QUESTION 62
The Delete Translated Balances process provides the ability to completely reset translations in the event that significant changes are made to the accounting configuration.
Once the deletion process completes, what additional process must you run?
- A. Submit the Create Scenario Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.
- B. Submit the Create General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.
- C. Submit the Create Currency Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.
- D. Submit the Update General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.
Answer: B
NEW QUESTION 63
Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)
- A. You can only drill down to the general ledger journal and then from there to the subledger journal entry.
- B. This report includes Ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.
- C. This report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
- D. This report displays only the reconciled transactions. You need to further process automatic reconciliation to reconcile the unreconciled transactions.
- E. This report displays the intercompany receivables and intercompany payables balances in summary for a period.
Answer: C,E
Explanation:
Reference:
html#OCUAR1573663
NEW QUESTION 64
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