oracle 1Z0-1054-20 Exam Questions

Questions for the 1Z0-1054-20 were updated on : Jun 07 ,2024

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Question 1

What are the three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence
Applications (OBIA)? (Choose three.)

  • A. Cloud customers can use both OTBI and OBIA
  • B. OTBI allows you to create custom reports from real-time transactional data against the database directly
  • C. OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications.
  • D. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance.
  • E. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications
Answer:

B C E

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Question 2

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
Answer:

C

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Question 3

Management has added a requirement to segregate the duties of transferring journals to the General Ledger from the
posting function. Which two new features allow this segregation? (Choose two.)

  • A. Uncheck the Enable Posting from the Manage Subledger Accounting Options task.
  • B. Journal entry spreadsheets are not impacted by this new function.
  • C. Must have separate user defined roles using the privilege XLA_CREATE_GENERAL_LEDGER_AND_SUBLEDGER _JOURNALS.
  • D. For previously scheduled automated processes, it is recommended to cancel and rescheduled the process for the option to be effective.
Answer:

A D

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Question 4

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
Answer:

C D

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Question 5

How do Cross Validation Rules (CVRs) handle existing violations in the Code Combinations Identification (CCID) table?

  • A. Nothing has changed. If you have an invalid account combination existing in the table, you must deactivate it to prevent further usage
  • B. CVRs are assigned to the end user role; therefore controlling what account code combination individuals can leverage in the General Ledger and the subledgers
  • C. CVRs only test new account combinations being inserted into the table. They ignore any invalid account combinations already existing in the table
  • D. If CVR determines that an invalid combination exists in the CCID table, it will automatically disable that account code combination.
Answer:

C

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Question 6

You want to monitor the close process of all your 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 Ledgers Manage Accounting Periods page to view the status of each period
  • C. Run Closing Status reports
  • D. Use Close Monitor in General Accounting Dashboard
Answer:

C

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Question 7

Your customer has a large number of legal entities. The legal entity values are defined in the company segment which
represents the primary balancing segment. They want to easily create eliminating entries for their intercompany activity.
What would you recommend?

  • A. Define an intercompany segment in the chart of accounts. The Intercompany module and the Intercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment which the balancing segment value of the legal entity with which you are trading
  • B. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the intercompany rules to define
  • C. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment
  • D. There is no need to define an intercompany segment. You can track the intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner
Answer:

A

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Question 8

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
Answer:

D

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Question 9

Your customer is planning to have three balancing segments for generating balance sheets and income statements at cost
center segment and program segment levels.
D18912E1457D5D1DDCBD40AB3BF70D5D
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
Answer:

A B

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

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Question 10

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 more stable currency while retaining the ability to report in the
unstable local currency. What would be your recommendation when defining ledgers?

  • A. Run Revaluation as often as you need to the more stable currency and report on the more stable currency’s balances
  • B. Run Revaluation to translate into Statistical Currency
  • C. Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency
  • D. Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency
Answer:

D

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Question 11

Management wants to use the budget transfer function available on the Review Budgetary Control Balances page. Which
privilege is required to perform the budget transfer?

  • A. Import Budget Amounts from Spreadsheet (XCC_IMPORT_BUDGET_FROM_SPREADSHEETS_PRIV)
  • B. Import Budget Amounts (XCC_IMPORT_BUDGET_PRIV)
  • C. Manage Control Budgets (XCC_MANAGE_CONTROL_BUDGETS_PRIV)
  • D. Budget Loading (XCC_BUDGET_LOADING_DUTY_PRIV)
Answer:

B

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Question 12

All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance.
They do perform intercompany accounting. What is Oracles recommended approach to performing consolidations?

  • A. Use General Ledgers Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment
  • B. Use Oracle Hyperion Financial Management for this type of complex consolidation
  • C. Use General Ledgers Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
  • D. Define multiple ledgers for consolidation and report on ledger set
Answer:

A

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Question 13

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
Answer:

A

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Question 14

Journal Description Rules are assigned to Subledger Journal Entry Rule Sets.
What are the other three subcomponents of a Subledger Journal Entry Rule Set? (Choose three.)

  • A. Accounting Date
  • B. Chart of Accounts
  • C. Journal Line Rules
  • D. Account Rules
  • E. Supporting References
Answer:

C D E

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Question 15

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 D18912E1457D5D1DDCBD40AB3BF70D5D
  • 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
Answer:

C E

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