[2021] Use Valid New 1z0-1054-20 Test Notes & 1z0-1054-20 Valid Exam Guide
1z0-1054-20 Actual Questions Answers PDF 100% Cover Real Exam Questions
Average Salary for Oracle 1z0-1054-20: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials Exam Certified Professional
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- United State - 92,000 USD
NEW QUESTION 56
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. Smart View
- B. Oracle Data Visualization Cloud Service
- C. Oracle Transactional Business Intelligence (OTBI)
- D. Financial Reporting Center
- E. Business Intelligence Publisher (BI Publisher)
Answer: E
NEW QUESTION 57
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 as 01-110-7699-00; 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. A cross validation rule is in place to prevent the resulting combination from being created
- B. The general accountant does not have the Financials Application administrator role assigned and, therefore, has view-only privileges on this page
- C. There is a primary balancing segment attached to the legal entity of the primary ledger
- D. The general accountant has a segment value security rule assigned which restricts access to that cost center
Answer: A
Explanation:
Explanation/Reference: https://docs.oracle.com/en/cloud/saas/financials/20c/faiac/implementing-accounting-hub.pdf
NEW QUESTION 58
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 IFRS accounting convention
- B. a reporting currency with the local accounting convention
- C. a primary ledger with the IFRS accounting convention
- D. a secondary ledger with the IFRS accounting convention
- E. a primary ledger with the local accounting convention
Answer: B,C
NEW QUESTION 59
You want to monitor the close process of all 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. Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period
Answer: D
NEW QUESTION 60
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 61
You need to define multiple allocation rules as efficiency as possible.
Which three components can be reused across allocation rules? (Choose three.)
- A. Run Time Prompts (RTP)
- B. Formulas
- C. Point of View (POV)
- D. RuleSets
Answer: A,B,D
NEW QUESTION 62
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. Accounting Calendar
- B. Legal Entities, Business Units, and Chart of Accounts
- C. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method
- D. Chart of Accounts and Business Units
- E. Chart of Accounts
Answer: A,E
NEW QUESTION 63
Most of the accounting entries for transactions from 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. Journal Entry Rule Set
- C. Event Type
- D. Journal Line Rule
- E. Journal Entry
Answer: D
Explanation:
Explanation/Reference: https://docs.oracle.com/cd/E29597_01/fusionapps.1111/e20375/F644879AN5F469.htm
NEW QUESTION 64
Identify three roles that get access to the reports in the Fusion Accounting Hub Reporting Cloud Service (FAHRCS). (Choose three.)
- A. General Accountant
- B. General Accountant Manager
- C. Financial Analyst
- D. Business Intelligence Administrator (BI Admin)
- E. Controller
Answer: B,C,D
NEW QUESTION 65
Your customer has a large number of legal entities. The legal entity values are defined in the company segment which represents the 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. 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
- 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. 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
Answer: A
NEW QUESTION 66
All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships. What is Oracle's recommended approach to performing consolidations?
- A. Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program
- B. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then creates a ledger set across all ledgers and report on the ledger set.
- C. Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.
- D. Use Oracle Hyperion Financial Management for this type of complex consolidation.
Answer: A
NEW QUESTION 67
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. Journal Line Rules
- B. Supporting References
- C. Chart of Accounts
- D. Account Rules
- E. Accounting Date
Answer: A,B,D
NEW QUESTION 68
You want to automatically post journal batches imported form subledger sources to prevent accidental edits or deletions of the subledger sources journals, which could cause an out-of-balance situation between your subledgers and general ledger. Which two aspects should you consider when defining your AutoPost Criteria?
(Choose two.)
- A. Include all of your subledger sources in the AutoPost CriteriA. Divide up criteria sets by subledger source only if you need to schedule different posting times
- B. Create your AutoPost criteria using minimal sources and categories
- C. Schedule your AutoPost Criteria set to run during off-peak hours only
- D. Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process
Answer: A,D
NEW QUESTION 69
What are the two purposes of a secondary ledger? (Choose two.)
- A. It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting
- B. It is used to main balances in a different currency only
- C. It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options
- D. It should only be used to main balances for processing performance
- E. It should not be used when trying to meet local accounting requirements
Answer: A,C
NEW QUESTION 70
When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two).
- A. Smart View
- B. Oracle Financial Statement Generator
- C. Financial Reporting Center
- D. Financial Reporting Studio
Answer: C,D
Explanation:
Explanation/Reference: https://docs.oracle.com/en/cloud/saas/financials/20c/faugl/financial-reporting-and- analysis.html#FAUGL513446
NEW QUESTION 71
You need to set 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. Period
- B. Year
- C. Fiscal
- D. Calendar
Answer: A
Explanation:
Explanation/Reference: https://docs.oracle.com/cd/E53547_01/opera_5_04_03_core_help/period_setup.htm
NEW QUESTION 72
After loading your budget data into General Ledger Cloud, you can view budget balances using these features.
Which feature does not belong on the list?
- A. Smart View
- B. Account Monitor
- C. Account Inspector
- D. Application Development Framework Desktop Integration Budget Balances Report
Answer: D
NEW QUESTION 73
You entered a cross validation rule to prevent the balance sheet cost center (000) being used with Profit and Loss Accounts (4000-ZZZZ).
-
The following combinations exist in the Code Combination table:
01-000-4110-00, 01-000-5299-000, 01-000-5105-000 and 01-000-7640-00
Which two statements are true regarding cross-validation rules? (Choose two.)
- A. The rules will validate and apply to new and existing accounts
- B. There is no need to create cross-validation rules if Dynamic Combination Creation Allowed is not enabled for your chart of accounts instance
- C. You need to run the Cross-Validation Rule Violations process to allow rules to apply to existing combinations that violate rules
- D. The rules validate and apply to new accounts only
- E. You need to run the Cross-Validation Rules process to list and optionally disable combinations that violate rules
Answer: A,C
NEW QUESTION 74
Your company has complex consolidation requirements with multiple general ledger instances. You are using Oracle Hyperion Financial Management to consolidate the disparate General Ledgers. You can typically map segments between your general ledger segment to a Hyperion Financial Management segment, such as Company to Entity, Department to Department, and Account to Account. What happens to segments in your source general ledger, such as Program, that cannot be mapped to Hyperion Financial Management?
- A. Data is summarized across segments that are not mapped to Hyperion Financial Management
- B. The unmapped segments default to future use segments in Hyperion Financial Management
- C. Errors occur for unmapped segments. You must map multiple segments from source general ledgers to the target segment in Hyperion Financial Management
- D. No data is transferred
Answer: C
NEW QUESTION 75
How do Cross Validation Rules (CVRs) handle existing violations in the Code Combinations Identification (CCID) table?
- A. If CVR determines that an invalid combination exists in the CCID table, it will automatically disable that account code combination.
- B. Nothing has changed. If you have an invalid account combination existing in the table, you must deactivate it to prevent further usage
- C. CVRs only test new account combinations being inserted into the table. They ignore any invalid account combinations already existing in the table
- D. CVRs are assigned to the end user role; therefore controlling what account code combination individuals can leverage in the General Ledger and the subledgers
Answer: C
NEW QUESTION 76
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