Free 1z0-1054 Preparation Exams 2021

NEW QUESTION 1
Account combinations can be created and/or modified using the Import Account Combinations file-based data import (FBDI).
Which represents the appropriate upload steps?

• A. Submit the Import Account Combinations process, then insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template.
• B. Insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.
• C. Insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.
• D. Submit the Import Account Combinations process, then insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template.

Answer: B

NEW QUESTION 2
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. Funds available will change when the invoice is approved
• B. The funds reserved for the purchase order is reinstated while the invoice expenditure is reserved by USD 100
• C. The budget will increase by USD 100 and the funds available will decrease by USD 100
• D. The budget and funds available will increase by USD 100

Answer: B

NEW QUESTION 3
Your customer wants to have balance sheets and income statements for its cost center and program segments. That is, the customer wants to have three balancing segments.
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. 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
• C. Define Ledger balancing options to balance by second and third balancing segments
• 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: AD

NEW QUESTION 4
You operate in a country whose unstable currency makes it unsuitable for managing your day-to-day business. As a consequence, you need to manage your business in a more stable currency while retaining the ability to report in the unstable local currency. What would be your recommendation when defining ledgers?

• A. Run Revaluation as often as you need to the more stable currency and report on the more stable currency’s balances
• B. Run Revaluation to translate into Statistical Currency
• C. Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency
• D. Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency

Answer: D

NEW QUESTION 5
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 a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions
• B. Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting
• C. 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
• 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: C

NEW QUESTION 6
How do Cross Validation Rules (CVRs) handle existing violations in the Code Combinations Identification (CCID) table?

• A. Nothing has change
• B. If you have an invalid account combination existing in the table, you must deactivate it to prevent further usage
• 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. CVRs only test new account combinations being inserted into the tabl
• E. They ignore any invalid account combinations already existing in the table
• F. If CVR determines that an invalid combination exists in the CCID table, it will automatically disable that account code combination.

Answer: C

NEW QUESTION 7
You are defining intercompany balancing rules that are applied to a specific source and category, such as payable and invoices, or a specific intercompany transaction type, such as Intercompany Sales. Which two statements are correct? (Choose two.)

• A. You can create a rule for all sources and categories by selecting the source “Other” and the category “Other”.
• B. 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.
• C. You must define rules for every combination of specific categories and source
• D. Otherwise, the intercompany balancing will not work.
• E. Set up a chart of accounts rule for every chart of accounts structure you have in order to ensure that Intercompany Balancing will always find a rule to use to generate balancing accounts.

Answer: AD

NEW QUESTION 8
Which three objectives must be considered when designing the chart of accounts? (Choose three.)

• A. Anticipate growth and maintenance needs as organizational changes occur
• B. Effectively manage an organization’s financial business
• C. Try to use all 30 segments and 25 characters per segment because you cannot change it later
• D. Consider implementing a single, global chart of accounts
• E. Limit the number of segments to those you need today to reduce data entry

Answer: ABD

NEW QUESTION 9
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. A Data Access Set with full read/write access to the ledger is automatically created
• C. You must define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration
• D. You must assign the job role and data security context to each user

Answer: BD

NEW QUESTION 10
Your customer requires physical invoices to be generated in Payables Cloud and Receivables Cloud for the Intercompany payables and receivables transactions. Which two statements are correct with regards to setting this up? (Choose two.)

• A. You only need to assign the Legal Entity and Organization Contact
• B. You can only associate one Intercompany Organization per Legal Entity
• C. You must have implemented Payables Cloud and Receivables Cloud
• D. You must assign the corresponding Receivables and Payables Business Units

Answer: CD

NEW QUESTION 11
Which two statements are true regarding how Intercompany Balancing Rule are defined? (Choose two.)

• A. All ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules.
• B. You can only define balancing rules for different journals’ source
• C. You cannot define balancing rules for different journal categories.
• D. You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types.
• E. You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment values.ys

Answer: AC

NEW QUESTION 12
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
• D. Chart of Accounts and Business Units
• E. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method

Answer: AC

NEW QUESTION 13
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. Create a new chart of accounts.
• B. Delete the segment and create a new segment with the correct qualifier.
• C. Change and save the segment qualifier.
• D. Delete the chart of accounts and create a new one.

Answer: D

NEW QUESTION 14
Which feature outside of reporting and analysis leverages the Essbase cube?

• A. revaluations and translation to revalue and translate currencies stored in the Essbase cube
• B. calculation manager to perform allocations based on multidimensional balances and budgets
• C. period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync
• D. journal entries and journal approval to create journals that update balances to the cube directly

Answer: A

NEW QUESTION 15
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. You must map legal entities to balancing segment values in order to use a clearing company
• B. If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger
• C. Clearing companies are not supported
• D. If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity
• E. 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

Answer: BDE

NEW QUESTION 16
You want to define an allocation rule where segment values are constants for rules and formulas. What should you do?

• A. Never use the Outer Point of View (POV)
• B. Always use the Outer Point of View (POV)
• C. Specify Run Time Prompts (RTP)
• D. Only specify segment values in formulas

Answer: C

NEW QUESTION 17
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. Define two different charts of accounts
• 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 18
You want to be notified of anomalies in certain account balances in real time. What is the most efficient way to do this?

• A. Create an Account Group using Account Monitor
• B. Use Account Inspector
• C. Open a Smart View file saved on your desktop
• D. Perform an account analysis online

Answer: A

NEW QUESTION 19
You need to create a month-end reporting package for an upcoming Audit Committee meeting, you have 10 financial reports that you want to share with executives and auditors that are nicely formatted.
Identify the two Oracle recommended ways to accomplish this. (Choose two.)

• A. Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee
• B. Use a report batch to run reports at a specific time to create a set of snapshot reports
• C. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book
• D. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet
• E. Use OTBI to create multiple reports that you save to a folder that only the users can access

Answer: BC

NEW QUESTION 20
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. Accounting Date
• B. Chart of Accounts
• C. Journal Line Rules
• D. Account Rules
• E. Supporting References

Answer: CDE

NEW QUESTION 21
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. Translate only the adjusting journal entry
• B. Rerun Translation and then reconsolidate your results
• C. Rerun Revaluation and then rerun Translation
• D. Enter another adjusting journal entry in the target currency to true up the balances

Answer: B

NEW QUESTION 22
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. Invoice type will have less funds available by $400 USD
• B. $400 USD will be expired and not available for use
• C. $400 USD will be added back to available funds
• D. Only obligation type will have $400 USD funds available
• E. Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of$400 USD

Answer: C

NEW QUESTION 23
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. Use the Freeze feauture on the tables to scroll through large amounts of data
• B. Run a Business Intelligence Publisher report with Excel as the output format
• C. Export the table to Excel
• D. Detach the table to resize it to the maximum size of the monitor.

Answer: AD

NEW QUESTION 24
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. 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.
• C. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting metho
• D. Create a separate elimination ledger to enter intercompany elimination
• E. Then creates a ledger set across all ledgers and report on the ledger set.
• F. Use Oracle Hyperion Financial Management for this type of complex consolidation.

Answer: A

NEW QUESTION 25
While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created. Which two options explain that? (Choose two.)

• A. The Account Rule’s conditions are not defined
• B. The Account Rule’s chart of accounts has no account values assigned
• C. The Account Rule is defined with a different chart of accounts form the Journal Entry Rule Set
• D. The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set

Answer: CD

NEW QUESTION 26
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