Oracle 1z0-1054-22 Exam Preparation Guide and PDF Download
Verified & Correct 1z0-1054-22 Practice Test Reliable Source Jan 12, 2024 Updated
NEW QUESTION # 51
You are trying to run a Financial Reporting Web Studio report from Financial Reporting Center. However, it is not appearing as a choice.
Which are two reasons for this? (Choose two.)
- A. You have not saved it in the MyFolders directory.
- B. You have not downloaded the report to your local drive.
- C. You have not uploaded it to Financial Reporting Center.
- D. You have not saved it in the Shared Folder/Custom/Financials directory.
Answer: A,C
Explanation:
According to Oracle documentation, two reasons why a Financial Reporting Web Studio report may not appear as a choice in Financial Reporting Center are: You have not saved it in the Shared Folder/Custom/Financials directory, and you have not uploaded it to Financial Reporting Center. Financial Reporting Web Studio enables you to design and generate reports with grids, charts, images, and text boxes using data from various sources. Financial Reporting Center enables you to access and run all types of reports from a single user interface. To make a Financial Reporting Web Studio report available in Financial Reporting Center, you must save it in the Shared Folder/Custom/Financials directory and upload it to Financial Reporting Center using Workspace. Therefore, options A and C are correct. Option B is incorrect because saving it in the MyFolders directory does not make it available in Financial Reporting Center. Option D is incorrect because downloading it to your local drive does not make it available in Financial Reporting Center.
NEW QUESTION # 52
You entered a journal and the client is asking for the following information:
The current account balance
What the future account balance will be if the journal is approved and posted How will you get this information?
- A. View the Projected Balances region in the Create Journals page
- B. Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances
- C. Query the account balance online
- D. Run a Trial Balance before and after posting
Answer: A
NEW QUESTION # 53
Which two statements are TRUE regarding the Balances Cubes in General Ledger? (Choose two.)
- A. They are updated automatically when the Revaluation process is run
- B. A new Balances Cube is created for a unique combination of Ledger and Currency
- C. They are updated automatically when the Translation process is run
- D. They are updated automatically when the General Ledger period is opened
- E. New dimensions can be added to a General Ledger Balances Cube
Answer: A,E
NEW QUESTION # 54
You want to be notified of anomalies in certain account balances in real time. What is the most efficient way to do this?
- A. Open a Smart View file saved on your desktop
- B. Use Account Inspector
- C. Create an Account Group using Account Monitor
- D. Perform an account analysis online
Answer: C
Explanation:
The most efficient way to be notified of anomalies in certain account balances in real time is to create an Account Group using Account Monitor. Account Monitor is a tool that allows you to monitor key account balances in real time and compare them to predefined thresholds. You can set up alerts to notify you when an account balance exceeds or falls below a certain percentage or amount. You can also drill down to the underlying transactions and subledger details to investigate the cause of the account anomalies. Using Account Inspector is not an efficient way to be notified of anomalies in certain account balances in real time, as this involves selecting an account or an account group and viewing its balance and components manually. Opening a Smart View file saved
NEW QUESTION # 55
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. Create your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets
- B. Deploy your chart of accounts
- C. Use the Rapid Implementation spreadsheet when creating your enterprise structure
- D. Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies
- E. Use HCM's Enterprise Structure Configurator (ESC) first
Answer: B,D,E
Explanation:
According to Oracle documentation1, you should do the following things when you are implementing a multipillar implementation of both HCM Cloud and ERP Cloud: Deploy your chart of accounts, use HCM's Enterprise Structure Configurator (ESC) first, and use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies. Therefore, options A, B, and D are correct. Option C is incorrect because you should create your chart of accounts in the following order: value sets, COA structure instance, and then assign values to the value sets. Option E is incorrect because you should use the Rapid Implementation spreadsheet when creating your chart of accounts, not your enterprise structure.
NEW QUESTION # 56
Your customer has enabled budgetary control for purchase orders. They have a purchase order for $1,000 USD which is fully reserved. An invoice for $600 is entered and matched to the purchase order, and the purchase order is closed for further invoicing.
What happens to the remaining $400 USD?
- A. $400 USD will be added back to available funds
- B. $400 USD will be expired and not available for use
- C. Only obligation type will have $400 USD funds available
- D. Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of $400 USD
- E. Invoice type will have less funds available by $400 USD
Answer: B
NEW QUESTION # 57
Your company has a legal entity in the UK, US, and Canad A.
They can all share the same chart of accounts but are required to transact and report in their local currency.
What is the minimum number of ledgers you need and why?
- A. Two, because the US and Canada can share the same ledger because they are in North America
- B. Four, because the UK has statutory requirements and you will need a separate ledger for statutory reporting
- C. One, because they can all share the same chart of accounts
- D. Three, because each requires a different currency
Answer: C
NEW QUESTION # 58
You have exported data from your budgeting application into a .csv file.
What should you use to load that data into General Ledger?
- A. File Based Data Import
- B. The budget journal spreadsheet
- C. Enterprise Resource Budget Integrator
- D. Application Developer Framework Desktop Integrator
Answer: D
Explanation:
Reference:
According to Oracle documentation3, you should use Application Developer Framework Desktop Integrator (ADFdi) to load data from your budgeting application into a .csv file into General Ledger. ADFdi enables you to use Excel spreadsheets to load data into General Ledger using web services. You can use ADFdi to create budget journals or budget balances from your .csv file. Therefore, option D is correct. Option A is incorrect because the budget journal spreadsheet is not a tool to load data into General Ledger. Option B is incorrect because Enterprise Resource Budget Integrator is not a tool to load data into General Ledger. Option C is incorrect because File Based Data Import is not a tool to load data into General Ledger.
NEW QUESTION # 59
What are the three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA)? (Choose three.)
- A. OTBI allows you to create custom reports from real-time transactional data against the database directly
- B. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications
- C. OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications.
- D. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance.
- E. Cloud customers can use both OTBI and OBIA
Answer: A,B,C
NEW QUESTION # 60
In which two ways can your users customize the Springboards and Work Areas to suit their individual working styles? (Choose two.)
- A. They can format each table by hiding and showing columns, moving columns, and resizing columns
- B. Users have very little control their Springboards and Work Areas; they can only resize columns
- C. They can use Personalization to move and remove regions from those pages
- D. They can have the System Administration customize pages for them using Page Composer
Answer: A,C
NEW QUESTION # 61
On a primary ledger in the system options close section, the following field has been selected 'Prevent General Ledger Period Closure When Open Subledger Periods Exist'.
For which three subledgers can you opt out of the period close checking feature by using the lookup ORA_GL_INCLD_STRICT_PRD_CLOSE? (Choose three.)
- A. Receipt accounting
- B. Receivables
- C. Assets
- D. Order Management
- E. Revenue Management
Answer: A,B,C
Explanation:
According to Oracle documentation3, you can opt out of the period close checking feature for these three subledgers by using the lookup ORA_GL_INCLD_STRICT_PRD_CLOSE: Receipt accounting, Receivables, and Assets. The period close checking feature prevents you from closing a General Ledger period if there are any open subledger periods that exist for that ledger. You can opt out of this feature for specific subledgers by using the lookup ORA_GL_INCLD_STRICT_PRD_CLOSE and setting the Enabled flag to No for those subledgers. Therefore, options A, B, and D are correct. Option C is incorrect because Revenue Management is not a subledger that can be opted out of the period close checking feature. Option E is incorrect because Order Management is not a subledger that can be opted out of the period close checking feature.
NEW QUESTION # 62
You create an invoice for USD 100 that is matched to a purchase order of USD 100. You validate the invoice to consume the budget and reduce funds available. And then later, you cancel the invoice. What happens to funds available when you cancel an invoice that requires budgetary control?
- A. The budget will increase by USD 100 and the funds available will decrease by USD 100
- B. Funds available will change when the invoice is approved
- C. The budget and funds available will increase by USD 100
- D. The funds reserved for the purchase order is reinstated while the invoice expenditure is reserved by USD 100
Answer: C
Explanation:
According to Oracle documentation2, what happens to funds available when you cancel an invoice that requires budgetary control is that the budget and funds available will increase by the invoice amount. When you validate an invoice, the budget and funds available are reduced by the invoice amount. When you cancel an invoice, the budget and funds available are restored by the invoice amount. Therefore, option D is correct. Option A is incorrect because funds available will change when the invoice is canceled, not when it is approved. Option B is incorrect because the funds reserved for the purchase order are not affected by the invoice cancellation. Option C is incorrect because the budget will increase by the invoice amount, not decrease by it.
NEW QUESTION # 63
When will Intercompany processing balance a journal using the accounts identified here for the UK Ledger?
- A. when the journal is balanced by the primary BSV but not by second or third BSV
- B. when the journal is not balanced by the primary balancing segment value (BSV)
- C. when the journal is balanced by second balancing segment value
- D. when there is a many-to-many journal and you want to use a clearing company
Answer: A
Explanation:
Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary balancing segment value (BSV) but not by second or third BSV. A BSV is a segment in the chart of accounts that identifies a legal entity or business unit for which financial statements are prepared and balanced. A primary BSV is required for every ledger and is used to balance journal entries within a ledger. A secondary or tertiary BSV is optional and is used to balance journal entries across different dimensions other than the primary BSV, such as fund or region. Intercompany processing is a feature that enables intercompany transactions between different legal entities or business units within the same enterprise. Intercompany processing uses intercompany balancing rules to generate intercompany receivables and payables accounts for cross-ledger or cross-BSV journals. Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary BSV but not by second or third BSV, as this indicates that there is an intercompany transaction between different legal entities or business units within the UK Ledger that requires intercompany balancing. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when there is a many-to-many journal and you want to use a clearing company, as this is a scenario that involves multiple legal entities or business units across different ledgers that requires a separate clearing company ledger to perform intercompany balancing. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is not balanced by the primary BSV, as this is an invalid scenario that violates the accounting rules and prevents posting of the journal. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by second balancing segment value, as this is an incomplete scenario that does not specify whether the journal is also balanced by primary and third BSV. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure and Process Intercompany 12
NEW QUESTION # 64
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. There is a primary balancing segment attached to the legal entity of the primary ledger
- B. The general accountant has a segment value security rule assigned which restricts access to that cost center
- C. A cross validation rule is in place to prevent the resulting combination from being created
- D. The general accountant does not have the Financials Application administrator role assigned and, therefore, has view-only privileges on this page
Answer: B
Explanation:
According to Oracle documentation1, the reason why the general accountant is not able to see the cost center 110 in the List of Values for the Suspense Account is that the general accountant has a segment value security rule assigned which restricts access to that cost center. Segment value security rules enable you to control user access to specific segment values or ranges of values. Therefore, option B is correct. Option A is incorrect because the general accountant does not need the Financials Application administrator role assigned to update the cost center for the Default Suspense Account. Option C is incorrect because there is no primary balancing segment attached to the legal entity of the primary ledger. Option D is incorrect because there is no cross validation rule in place to prevent the resulting combination from being created.
NEW QUESTION # 65
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
Answer: A
Explanation:
Reference:
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NEW QUESTION # 66
You create an invoice for USD 100 that is matched to a purchase order of USD 100. You validate the invoice to consume the budget and reduce funds available. And then later, you cancel the invoice. What happens to funds available when you cancel an invoice that requires budgetary control?
- A. The budget will increase by USD 100 and the funds available will decrease by USD 100
- B. Funds available will change when the invoice is approved
- C. The funds reserved for the purchase order is reinstated while the invoice expenditure is reserved by USD 100
- D. The budget and funds available will increase by USD 100
Answer: C
NEW QUESTION # 67
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. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance
- B. Define the company segment only and qualify it as both the primary balancing segment and intercompany segment
- C. Define two different charts of accounts
- 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 # 68
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. 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
- B. Define multiple ledgers for consolidation and report on ledger set
- C. 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.
- D. Use Oracle Hyperion Financial Management for this type of complex consolidation
Answer: A
NEW QUESTION # 69
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. Report Functions
- B. Nothing. All report balances are drillable in all FR Studio reports
- C. Allow Expansion
- D. Drill Through in Grid Properties
Answer: D
NEW QUESTION # 70
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