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

• Question 31:

  Which two statements are TRUE regarding the Balances Cubes in General Ledger? (Choose two.)

  A. They are updated automatically when the General Ledger period is opened

  B. New dimensions can be added to a General Ledger Balances Cube

  C. They are updated automatically when the Revaluation process is run

  D. A new Balances Cube is created for a unique combination of Ledger and Currency

  E. They are updated automatically when the Translation process is run

  Correct Answer: BC

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20c/faigl/period-close.html

• Question 32:

  Your client has been using Budgetary Control for six months. Now, they want to use the Spend Authorization. After opting in the new feature Spend Authorization with Budgetary Control, what additional three actions need to be accomplished to activate this feature? (Choose three.)

  A. Enable Payment Request Subtypes

  B. Rebuild the GL Balances Cube

  C. Create a Payment Process Profile

  D. Rebuild the Budgetary Control Cube

  E. Enable spend authorization

  Correct Answer: ADE

• Question 33:

  You have a requirement for the Intercompany Provider and Receiver distribution accounts to be created automatically for all intercompany transactions.

  What should you configure?

  A. a Provider and Receiver distribution set

  B. Intercompany transaction type default accounts

  C. the AutoAccounting Definition

  D. the Transaction Account Definition

  Correct Answer: A

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faigl/intercompanysetup.html#FAIGL312054

• Question 34:

  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. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects

  C. Each product has its own Intercompany Accounting feature that needs to be configured separately

  D. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals

  Correct Answer: CD

• Question 35:

  Which AMX builder method is most effective in routing the journals to the Accounting Manager when his subordinate, The General Accountant, enters a journal?

  A. Approval Groups

  B. Dynamic Approval Groups

  C. Supervisory level approval

  D. Management Chain approval

  Correct Answer: C

• Question 36:

  Which two statements are true regarding how Intercompany Balancing Rules are defined? (Choose two.)

  A. All ledgers engaged in an intercompany transaction must share the same chart of accounts to define balancing rules

  B. You can only define balancing rules for different journal's sources. You cannot define balancing rules for different journal categories

  C. You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment values

  D. You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types

  Correct Answer: BC

  Reference: https://docs.oracle.com/cd/E25054_01/fusionapps.1111/e20375/F569979AN6EF6E.htm

• Question 37:

  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 and funds available will increase 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 reversed by USD 100

  D. The budget will increase by USD 100 and the funds available will decrease by USD 100

  Correct Answer: D

• Question 38:

  When creating your financial statements, you would like to have a chart, such as a bar graph, included in the report output.

  Which two reporting tools allow you to achieve this? (Choose two.)

  A. Financial Reporting Studio

  B. Account Inspector

  C. Smart View

  D. Financial Statement Generator

  Correct Answer: AC

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20d/faigl/financialreporting.html#FAIGL513446

• Question 39:

  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 using sources assigned to different event classes from that of the associated Journal Entry Rule Set

  D. The Account Rule is defined with a different chart of accounts from the Journal Entry Rule Set

  Correct Answer: CD

• Question 40:

  You are setting up Close Monitor, which comprises 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, Currency, Accounting Calendar, and Subledger Accounting Method

  E. Chart of Accounts and Business Units

  Correct Answer: AC

  Reference: https://docs.oracle.com/cd/E29597_01/fusionapps.1111/e20374/F494861AN210CF.htm