[Feb 18, 2022] 1Z0-1054-21 certification guide Q&A from Training Expert ExamsReviews
1Z0-1054-21 Certification Overview Latest 1Z0-1054-21 PDF Dumps
NEW QUESTION 50
Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses in Australia, NewZealand, 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. The control budget structure has all thechart of account segments as budget segments
- D. A control budget can allow override rules only if the control level is absolute
- E. Control budgets are always absolute to generate encumbrance accounting
Answer: A,D,E
NEW QUESTION 51
What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availability? (Choose two.)
- A. The purchase orderis canceled or finally closed or rejected without performing any receipt or invoice
- B. The requisition reserved successfully undergoes amendment and is rejected in the reapproval
- C. When the requisition is set to accrue at period end and partially billed and then canceled or finally closed, encumbrance goes back to the budget to the extent of the unbilled amount
- D. When the purchase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the extent of the unreceived amount
Answer: A,D
NEW QUESTION 52
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'srecommended 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 53
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 doingthis?
- A. 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
- 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 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: A
NEW QUESTION 54
Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)
- A. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product
- B. In Financials Cloud, Intercompany Balancing Rules are usedto balance both cross-ledger allocation journals and single-ledger journals
- 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: B,D
NEW QUESTION 55
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. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book
- B. Use a report batch to run reports at a specific time to create a set of snapshot reports
- C. Create aSmartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet
- D. Use BI Publisher to configure the reports and then use bursting to email the reports to theexecutives and Audit Committee
- E. Use OTBI to create multiple reports that you save to a folder that only the users can access
Answer: A,B
NEW QUESTION 56
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 and01-000-7640-00
Which two statements are true regarding cross-validation rules? (Choose two.)
- A. There is no need to create cross-validation rules if Dynamic Combination CreationAllowed is not enabled for your chart of accounts instance
- B. You need to run the Cross-Validation Rules process to list and optionallydisable combinations that violate rules
- C. The rules validate and apply to new accounts only
- D. The rules will validate and apply to new and existing accounts
- E. You need to run the Cross-Validation Rule Violations process to allow rules to apply to existing combinations that violate rules
Answer: D,E
NEW QUESTION 57
You want to define an allocation rule where segment values are constants for rules and formulas. Whatshould you do?
- A. Only specify segment values in formulas
- B. Always use the Outer Point of View (POV)
- C. Never use the Outer Point of View (POV)
- D. Specify Run Time Prompts (RTP)
Answer: B
Explanation:
Explanation
A Point of View is used to define dimension values that remain fixed throughout the entire allocation rule. For example, assume a chart of accounts includes a segment for future use. The Point of View fixes the value to be the default value so that the dimension value does not have to be selected while defining the source, basis, target, offset, or allocation range
NEW QUESTION 58
You have enabled budgetary control and have a control budget set to Advisory control level. ForSeptember
2016, your budget for a given account combination is $5,000 USD. In the same month, there is an approved requisition for that account of $900 and an approved purchase order for that account of $2,500 USD. There is also a General Ledger adjustment journal entry for that account of $1,600 USD. An approved purchase order line of $400 USD is then cancelled. And an invoice is matched to the purchase order for $2,100 USD. Which two statements are true? (Choose two.)
- A. As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016
- B. No change
- C. The system always consumes budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation
- D. Purchase order encumbrance will be released for $2,100 USD
- E. Funds reservation only happens for non-matched invoices, so the system will not reserve funds
Answer: A,D
NEW QUESTION 59
You have exported data from your budgeting application into a .csv file.
What should you use to load that data into General Ledger?
- A. The budget journal spreadsheet
- B. File Based Data Import
- C. Application Developer Framework Desktop Integrator
- D. Enterprise Resource Budget Integrator
Answer: C
NEW QUESTION 60
You want to monitor the close process of allfinancial 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 Periodspage to view the status of each period
- D. Run Closing Status reports
Answer: C
NEW QUESTION 61
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 nominority interest or partial ownerships. What is Oracle's recommended approach to performing consolidations?
- A. Use Oracle Hyperion Financial Management for this type of complex consolidation.
- 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 method. Create a separate elimination ledger to enter intercompany eliminations. Then creates a ledger set across all ledgers and report on the ledger set.
- D. Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts, then transfer balances tothe corporate consolidation ledger using the balance transfer program
Answer: D
NEW QUESTION 62
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 secondary ledger with the IFRS accounting convention
- C. a reporting currency with the IFRS accounting convention
- D. a primary ledger with the local accounting convention
- E. a reporting currency with the local accounting convention
Answer: A,E
NEW QUESTION 63
You are defining an income statementreport 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 64
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 morestable currency while retaining the ability to report in the unstable local currency. What would be your recommendation when defining ledgers?
- A. Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency
- B. Run Revaluation as often as you need to the more stable currency and report on the more stable currency's balances
- C. Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency
- D. Run Revaluation to translate into Statistical Currency
Answer: A
NEW QUESTION 65
You entered a journal and theclient 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. Query the account balance online
- B. Run a Trial Balance before and after posting
- C. View the Projected Balances region in the Create Journals page
- D. Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances
Answer: C
NEW QUESTION 66
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. Enter another adjusting journal entry in the target currency to true up the balances
- B. Rerun Revaluation and then rerun Translation
- C. Translate only the adjusting journal entry
- D. Rerun Translation and then reconsolidate your results
Answer: D
NEW QUESTION 67
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. Account Inspector
- B. Smart View
- C. Application Development FrameworkDesktop Integration Budget Balances Report
- D. Account Monitor
Answer: C
NEW QUESTION 68
You create an invoice for USD 100 that ismatched 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 budget will increase by USD 100 and the funds available will decrease by USD 100
- 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 69
You are defining an income statement report. You want to allow viewers ofthe 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 70
Which two statements areTRUEregarding the Balances Cubes in General Ledger? (Choose two.)
- A. A new Balances Cube is created for a unique combination of Ledger and Currency
- B. They are updated automatically when the Revaluationprocess is run
- 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: B,E
NEW QUESTION 71
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