oracle 1Z0-1054-21 Exam Questions

Questions for the 1Z0-1054-21 were updated on : Jun 07 ,2024

Page 1 out of 7. Viewing questions 1-15 out of 102

Question 1

Your customer wants to use a clearing company to automatically balance intercompany entries.
Which three statements are true regarding the use of a clearing company value? (Choose three.)

  • A. You must map legal entities to balancing segment values in order to use a clearing company
  • B. If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger
  • C. Clearing companies are not supported
  • D. If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity
  • E. If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal
Answer:

B D E

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Question 2

You entered a journal and the client is asking for the following information:

The current account balance

What the future account balance will be if the journal is approved and posted How will you get this information?

  • A. Query the account balance online
  • B. Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances
  • C. View the Projected Balances region in the Create Journals page
  • D. Run a Trial Balance before and after posting
Answer:

C

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Question 3

You are defining intercompany balancing rules that are applied to a specific source and category, such as payable and
invoices, or a specific intercompany transaction type, such as Intercompany Sales.
Which two statements are correct? (Choose two.)

  • A. You can create a rule for all sources and categories by selecting the source “Other” and the category “Other”.
  • B. If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value.
  • C. You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work.
  • D. Set up a chart of accounts rule for every chart of accounts structure you have in order to ensure that Intercompany Balancing will always find a rule to use to generate balancing accounts.
Answer:

A D

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Question 4

You want to automatically post journal batches imported form subledger sources to prevent accidental edits or deletions of
the subledger sources journals, which could cause an out-of-balance situation between your subledgers and general ledger.
Which two aspects should you consider when defining your AutoPost Criteria? (Choose two.)

  • A. Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process
  • B. Create your AutoPost criteria using minimal sources and categories
  • C. Include all of your subledger sources in the AutoPost CriteriA. Divide up criteria sets by subledger source only if you need to schedule different posting times
  • D. Schedule your AutoPost Criteria set to run during off-peak hours only
Answer:

A C

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Question 5

Before implementing Financials Cloud, your customer used to manually reconcile their intercompany payables and
receivables accounts. What is a more automated approach to do this?

  • A. Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances
  • B. In Financials Cloud, you must manually reconcile your intercompany account balances
  • C. Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances
  • D. Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance
  • E. Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances
Answer:

D

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Explanation:
https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9DAAC7706212CF48E040D30A6881766A

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Question 6

In which two ways can your users personalize the Springboards and Work Areas to suit their individual working styles?
(Choose two.)

  • A. They can format certain tables by hiding and showing columns, moving columns, and resizing columns
  • B. Users have very little control configuring their Springboards and Work Areas; they can only resize columns
  • C. They can have the System Administrator configuring pages for them using Page Composer
  • D. They can use “+” under the Apps section of the News Feed homepage
Answer:

A C

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Question 7

You are reconciling your subledger balances and you need a report that includes beginning and ending account balances
and all transactions that constitute the accounts activities.
What type of report will provide this type of information?

  • A. Account Analysis Reports
  • B. Aging Reports
  • C. an Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances
  • D. Journals Reports
Answer:

A

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Question 8

The Delete Translated Balances process provides the ability to completely reset translations in the event that significant
changes are made to the accounting configuration.
Once the deletion process completes, what additional process must you run?

  • A. Submit the Update General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.
  • B. Submit the Create General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.
  • C. Submit the Create Currency Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.
  • D. Submit the Create Scenario Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.
Answer:

B

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Question 9

In which two ways can your users customize the Springboards and Work Areas to suit their individual working styles?
(Choose two.)

  • A. Users have very little control their Springboards and Work Areas; they can only resize columns
  • B. They can use Personalization to move and remove regions from those pages
  • C. They can have the System Administration customize pages for them using Page Composer
  • D. They can format each table by hiding and showing columns, moving columns, and resizing columns
Answer:

B D

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Question 10

Your customer has many eliminating entries to eliminate intercompany balances. The General Ledger does not include a
purpose-built Consolidation feature. 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 Ledgers Calculation Manager to define an allocation definition to eliminate entries that you can generate every period
  • B. Use the spreadsheet template that is accessed from the Create Journal in Spreadsheet task and import the spreadsheet with the eliminating entries every period
  • C. There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management
  • D. Create a manual journal that includes the eliminating entries, and then create a copy of the journal batch every period
Answer:

A

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Question 11

After loading your budget data into General Ledger Cloud, you can view budget balances using these features. Which
feature does not belong on the list?

  • A. Application Development Framework Desktop Integration Budget Balances Report
  • B. Account Monitor
  • C. Smart View
  • D. Account Inspector
Answer:

A

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Question 12

During implementation, a consultant accidentally designated the cost center segment as the natural account.
Values have already been assigned and journals have been posted.
Select the process that allows you to change the qualifier back to cost center qualifier.

  • A. Create a new chart of accounts.
  • B. Delete the segment and create a new segment with the correct qualifier.
  • C. Change and save the segment qualifier.
  • D. Delete the chart of accounts and create a new one.
Answer:

D

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Question 13

You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you
consolidated your results. What is Oracles recommended practice when this occurs?

  • A. Translate only the adjusting journal entry
  • B. Rerun Translation and then reconsolidate your results
  • C. Rerun Revaluation and then rerun Translation
  • D. Enter another adjusting journal entry in the target currency to true up the balances
Answer:

B

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Question 14

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 defined with a different chart of accounts form the Journal Entry Rule Set
  • D. The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set
Answer:

C D

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Question 15

Which tool can you use to create a Financial Income Statement?

  • A. One View Reporting
  • B. PS/nVision
  • C. Account Inspector
  • D. Rapid Implementation Enterprise Structures setup
Answer:

C

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