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

• Question 51:

  You need to set up a calendar for fiscal year Apr-XX to March-YY where YY is the following year, and you would like the periods to be named according to the year they fall in.

  What Calendar format should you choose?

  A. Calendar

  B. Fiscal

  C. Year

  D. Period

  Correct Answer: D

  Reference: https://docs.oracle.com/cd/E53547_01/opera_5_04_03_core_help/period_setup.htm

• Question 52:

  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. Only obligation type will have $400 USD funds available

  B. Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of $400 USD

  C. $400 USD will be added back to available funds

  D. Invoice type will have less funds available by $400 USD

  E. $400 USD will be expired and not available for use

  Correct Answer: C

• Question 53:

  When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two).

  A. Financial Reporting Studio

  B. Smart View

  C. Oracle Financial Statement Generator

  D. Financial Reporting Center

  Correct Answer: AD

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20c/faugl/financial-reporting-andanalysis.html#FAUGL513446

• Question 54:

  Your company has a legal entity in the UK, US, and Canada. They can all share the same chart of accounts but are required to transact and report in their local currency.

  What is the minimum number of ledgers you need and why?

  A. One, because they can all share the same chart of accounts

  B. Three, because each requires a different currency

  C. Two, because the US and Canada can share the same ledger because they are in North America

  D. Four, because the UK has statutory requirements and you will need a separate ledger for statutory reporting

  Correct Answer: A

  Reference: https://docs.oracle.com/cd/E18727_01/doc.121/e13425/T348488T348492.htm

• Question 55:

  The general accountant is trying to update the cost center for the Default Suspense Account in the Ledger Options to match the cost center for the Rounding Account.

  The rounding account is showing as 01-110-7699-00; however, 110 is not appearing in the List of Values for the accountant to select in the Suspense Account.

  What is the reason for this?

  A. The general accountant does not have the Financials Application administrator role assigned and, therefore, has view-only privileges on this page

  B. The general accountant has a segment value security rule assigned which restricts access to that cost center

  C. There is a primary balancing segment attached to the legal entity of the primary ledger

  D. A cross validation rule is in place to prevent the resulting combination from being created

  Correct Answer: D

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20c/faiac/implementing-accounting-hub.pdf