100% Guarantee 1z0-1054 Testing Material 2021

NEW QUESTION 1
What is the most efficient way to add a new year to the accounting calendar?

• A. Import the periods from a spreadsheet
• B. The application automatically populates the next year when you open the first period of a new fiscal year
• C. Add the periods manually
• D. Use the Add Year button

Answer: D

NEW QUESTION 2
You are setting up Close Monitor, which compromises 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 and Business Units
• E. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method

Answer: AC

NEW QUESTION 3
You want to enter budget data in General Ledger Cloud. Which method is not supported?

• A. Entering budget journals
• B. Application Development Framework Desktop Integration (ADFdi)
• C. Direct budget balance updates from a Financial Statement in Smart View
• D. File-based Data Import

Answer: A

NEW QUESTION 4
Your enterprise structure has one ledger and two business units. Business unit one wants to enable budgetary control for Requisitioning only on Procure-to-Pay Business Functions and business unit two wants to enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions. Which two statements are correct? (Choose two.)

• A. While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing
• B. While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning
• C. Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit
• D. While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving
• E. Define budgetary control at ledger level and only encumbrance control at the business units
• F. Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving

Answer: AD

NEW QUESTION 5
You need to define multiple allocation rules as efficiency as possible.
Which three components can be reused across allocation rules? (Choose three.)

• A. Point of View (POV)
• B. Formulas
• C. Run Time Prompts (RTP)
• D. RuleSets

Answer: BCD

NEW QUESTION 6
When working with Essbase, versions of the tree hierarchy as defined in the General Ledger Cloud are not available in the Essbase balances cube. What should you do to correct this situation?

• A. Make sure to flatten the rows of the tree version
• B. Make sure the tree is active
• C. Make sure the tree version was published successfully
• D. Redeploy the chart of accounts

Answer: C

NEW QUESTION 7
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 Ledger’s 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

NEW QUESTION 8
Your customer requires physical invoices to be generated in Payables Cloud and Receivables Cloud for the Intercompany payables and receivables transactions. Which two statements are correct with regards to setting this up? (Choose two.)

• A. You only need to assign the Legal Entity and Organization Contact
• B. You can only associate one Intercompany Organization per Legal Entity
• C. You must have implemented Payables Cloud and Receivables Cloud
• D. You must assign the corresponding Receivables and Payables Business Units

Answer: CD

NEW QUESTION 9
You are creating financial statements and want to have charts, such as a bar graph, automatically inserted to improve the understanding financial results. How would you achieve this?

• A. Use Smart View, which is an Excel Add-on
• B. Use Account Inspector that automatically creates graphs on financial balances
• C. When viewing the report, download to Excel and use Excel’s Charting features to create your bar graph
• D. When designing your financial statement using Financial Report (FR), embed a chart into your report

Answer: D

NEW QUESTION 10
What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availability? (Choose two.)

• A. The purchase order is canceled or finally closed or rejected without performing any receipt or invoice
• B. When the purchase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the extent of the unreceived amount
• C. The requisition reserved successfully undergoes amendment and is rejected in the reapproval
• D. When the requisition is set to accrue at period end and partially billed and then canceled or finally closed, encumbrance goes back to the budget to the extent of the unbilled amount

Answer: AB

NEW QUESTION 11
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. Supervisory level approval
• B. Cost center based approval
• C. Dynamic Approval Groups
• D. Management Chain approval
• E. Approval Groups

Answer: A

NEW QUESTION 12
You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for $300 is matched to the purchase order. What will be the funds status of the purchase order and the invoice?

• A. Both are Partially Reserved
• B. The purchase order is Liquidated and the invoice is Partially Reserved
• C. The purchase order is Partially Liquidated and the invoice is Partially Reserved
• D. The purchase order is Partially Liquidated and the invoice will be Reserved
• E. Both are reserved
• F. The purchase order is Open and the invoice is Validated

Answer: C

NEW QUESTION 13
Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries. What is Oracle’s recommended practice when implementing a new chart of accounts? How many segments and what segment qualifiers should be used?

• A. Define three segments for the company, department, and natural accoun
• B. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.
• C. Define four segments for the company, department, natural account, and intercompany segmen
• D. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, and intercompany segment, respectively.
• E. Define three segments for the company, department, and natural accoun
• F. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, respectively.
• G. Define five segments for the company, department, natural account, intercompany, and future use segmen
• H. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.

Answer: D

NEW QUESTION 14
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

NEW QUESTION 15
You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment.
What is Oracle’s recommended method to define this chart of accounts?

• A. Define the company segment only and qualify it as both the primary balancing segment and intercompany segment
• B. Define two different charts of accounts
• C. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance
• D. Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level

Answer: D

NEW QUESTION 16
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 Criteri
• D. Divide up criteria sets by subledger source only if you need to schedule different posting times
• E. Schedule your AutoPost Criteria set to run during off-peak hours only

Answer: AC

NEW QUESTION 17
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: AD

NEW QUESTION 18
Your customer uses Financials Cloud, Projects, Inventory and Procurement.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)

• A. Each product has its own Intercompany Accounting feature that needs to be set up separately
• B. Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals
• C. Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management
• D. They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub

Answer: BD

NEW QUESTION 19
You set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. Which two actions should you now perform? (Choose two.)

• A. Ensure that the Accounting Calendar and Currency are the same as the Primary Ledger
• B. Define Journal Conversion Rules that include subledgers in order to transfer subledger transactions
• C. Define Journal Conversion Rules that exclude subledgers
• D. Assign a Subledger Accounting Method to the secondary ledger
• E. Define Supporting References with balances

Answer: BD

NEW QUESTION 20
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. 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

NEW QUESTION 21
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