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

• Question 41:

  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

  Correct Answer: A

• Question 42:

  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 Translation and then re-consolidate your results

  C. Rerun Revaluation and then rerun Translation

  D. Translate only the adjusting journal entry

  Correct Answer: B

• Question 43:

  You are using Oracle General Ledger (GL), Oracle Payables and Oracle Receivables and would like to prevent the closure of the GL period if the corresponding subledger period is not closed.

  How will you achieve this?

  A. Opt in to the Prevent Period Close option for the offering

  B. Set the relevant option on the Specify Ledger Options page

  C. Nothing, this option is enabled automatically

  D. Set the ORA_GL_INCLD_STRICT_PRD_CLOSE profile option to yes

  Correct Answer: A

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faugl/accounting-periodclose.html#FAUGL691839

• Question 44:

  Your company has two legal entities in the US (Balancing Segment Values [BSV] 101 and 102), one legal entity in France (BSV 401), and one legal entity in the UK (BSV 402).

  Both US legal entities share the same ledger, whereas the UK and France have their own ledgers.

  Assuming intercompany transactions are not being entered, what is the minimal action you can take and still configure the ledgers correctly?

  A. You should assign a balancing segment value to identify each legal entity in the US Ledger and assign the balancing segment values to the ledger in the UK and France.

  B. You should assign a balancing segment value to identify each legal entity in the US ledger.

  C. You should assign a balancing segment value to identify each legal entity in each ledger.

  D. You should assign the balancing segment value to the ledger in the US and assign a balancing segment value to identify each legal entity in the UK and France ledgers.

  Correct Answer: D

• Question 45:

  You want to monitor the close process of all financial 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. Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period

  C. Run Closing Status reports

  D. Use Close Monitor in General Accounting Dashboard

  Correct Answer: B

  Reference: https://docs.oracle.com/cd/E48434_01/doc.1118/e49598/F1006651AN1B4CF.htm

• Question 46:

  You are reconciling your subledger balances and you need a report that includes beginning and ending account balances and all transactions that constitute the account's activities.

  What type of report will provide this type of information?

  A. Aging Reports

  B. Journals Reports

  C. Account Analysis Reports

  D. Journals Day Book Report

  Correct Answer: C

• Question 47:

  You are defining an income statement report 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. Nothing. All report are drillable

  B. Drill Through in Grid Properties

  C. Drill Down in Report Functions

  D. Allow Expansion in Report Functions

  Correct Answer: C

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20c/faugl/financial-reporting-andanalysis.html#FAUGL1192194

• Question 48:

  You want to specify Intercompany System Options. Which three factors should you consider? (Choose three.)

  A. whether to allow receivers to reject intercompany transactions

  B. whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies

  C. automatic or manual batch numbering and the maximum transaction amount

  D. the approvers who will approve intercompany transactions

  E. automatic or manual batch numbering and the minimum transaction amount

  Correct Answer: BDE

  Reference: https://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20375/F569979AN732D7.htm

• Question 49:

  You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?

  A. Two tree versions were not defined

  B. Chart of accounts was not deployed

  C. Accounting Configuration was not submitted

  D. An Audit process needs to be successfully performed before a tree version can be set to Active

  Correct Answer: D

• Question 50:

  You entered the following information in the Companies and Legal Entities tab of the Rapid Implementation Spreadsheet: Assuming currency is left blank in the Ledger worksheet, how many Ledgers will the process create?

  

  A. 6

  B. 3

  C. 4

  D. 5

  Correct Answer: C