Oracle Oracle Certifications 1Z0-1054-20 Questions & Answers

• Question 21:

  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 validate and apply to new accounts only

  B. You need to run the Cross-Validation Rules process to list and optionally disable combinations that violate rules

  C. You need to run the Cross-Validation Rule Violations process to allow rules to apply to existing combinations that violate rules

  D. There is no need to create cross-validation rules if Dynamic Combination Creation Allowed is not enabled for your chart of accounts instance

  E. The rules will validate and apply to new and existing accounts

  Correct Answer: CE

• Question 22:

  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. Enterprise Resource Budget Integrator

  C. File Based Data Import

  D. Application Developer Framework Desktop Integrator

  Correct Answer: D

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faigl/budgets.html#FAIGL817044

• Question 23:

  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 local accounting convention

  B. a reporting currency with the IFRS accounting convention

  C. a primary ledger with the IFRS accounting convention

  D. a secondary ledger with the IFRS accounting convention

  E. a reporting currency with the local accounting convention

  Correct Answer: CE

• Question 24:

  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 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. Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting

  C. Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions

  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

  Correct Answer: C

• Question 25:

  You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for $300 is matched to the purchase order. What will be the funds status of the purchase order and the invoice?

  A. The purchase order is Open and the invoice is Validated

  B. Both are reserved

  C. Both are Partially Reserved

  D. The purchase order is Partially Liquidated and the invoice is Partially Reserved

  E. The purchase order is Liquidated and the invoice is Partially Reserved

  F. The purchase order is Partially Liquidated and the invoice will be Reserved

  Correct Answer: F

• Question 26:

  You set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger.

  Which two actions should you now perform to prevent duplicate accounting entries? (Choose two.)

  A. Go to Manage Subledger Accounting Options, locate your created secondary ledger and disable the subledger accounting enabled for each component.

  B. Define Supporting References with balances

  C. Define Journal Conversion Rules that exclude subledgers

  D. Ensure that the Accounting Calendar and Currency are the same as the Primary Ledger

  E. Define Journal Conversion Rules that include subledgers to transfer subledger transactions

  Correct Answer: DE

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faigl/ledgers.html#FAIGL300044

• Question 27:

  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. Detach the table to resize it to the maximum size of the monitor

  B. Run a Business Intelligence Publisher report with Excel as the output format

  C. Export the table to Excel

  D. Use the Freeze feature on the tables to scroll through large amounts of data

  Correct Answer: AB

• Question 28:

  Your customer has many eliminating entries to eliminate intercompany balances.

  How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?

  A. Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period.

  B. There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management.

  C. Create a manual journal that includes the eliminating entries, and then create a copy of the journal batch every period.

  D. Use the spreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period.

  Correct Answer: A

• Question 29:

  Your customer is planning to have three balancing segments for generating balance sheets and income statements at cost center segment and program segment levels.

  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. Additional intercompany balancing and clearing options will need to be defined

  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

  Correct Answer: AB

  Reference: https://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20375/F350915AN26721.htm

• Question 30:

  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 Account Group

  B. an OTBI analysis

  C. a SmartView analysis

  D. General Ledger inquiries and reports

  Correct Answer: B

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/ocuar/oracle-fusion-subledgeraccounting-reports.html#OCUAR1448300