12 January, 2020

100% Correct Oracle 1z0-1054 Questions

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Total 78 questions Full Exam Access

Question 1

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?

Define the company segment only and qualify it as both the primary balancing segment and intercompany segment

Define two different charts of accounts

Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance

Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level

Question 2

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?

Run Revaluation as often as you need to the more stable currency and report on the more stable currency’s balances

Run Revaluation to translate into Statistical Currency

Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency

Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency

Question 3

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?

Import Budget Amounts from Spreadsheet (XCC_IMPORT_BUDGET_FROM_SPREADSHEETS_PRIV)

Import Budget Amounts (XCC_IMPORT_BUDGET_PRIV)

Manage Control Budgets (XCC_MANAGE_CONTROL_BUDGETS_PRIV)

Budget Loading (XCC_BUDGET_LOADING_DUTY_PRIV)

Question 4

How can your Accounting Manager expedite journal processing during the time-critical month-end close?

by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)

by running the Journals report using Business Intelligence Publisher

by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Other

by using the Close Status monitor to drill down on the close status across ledgers

Question 5

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?

Both are Partially Reserved

The purchase order is Liquidated and the invoice is Partially Reserved

The purchase order is Partially Liquidated and the invoice is Partially Reserved

The purchase order is Partially Liquidated and the invoice will be Reserved

Both are reserved

The purchase order is Open and the invoice is Validated

Question 6

Budgetary control for accounts 5020 and 5021 has a budget of $90,000USD each for the year 2012. The accounts also have balances on obligation of $10,000 USD for each and an expenditure of $20,000 USD for each. A Fund of $50,000 USD is available for account 5010 only. You have run the Encumbrance Year End Carry Forward process for obligation from the last period of the year 2012 to the first period of year 2013. Which statement is true?

If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD,obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forward

The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances

If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.

If you have included 5020 and 5021 in the encumbrance rule, the budget balances $90,000 USD, obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.

If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward

Question 7

All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships. What is Oracle’s recommended approach to performing consolidations?

Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program

Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger’s Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.

Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting metho

Create a separate elimination ledger to enter intercompany elimination

Then creates a ledger set across all ledgers and report on the ledger set.

Use Oracle Hyperion Financial Management for this type of complex consolidation.

Question 8

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.)

Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process

Create your AutoPost criteria using minimal sources and categories

Include all of your subledger sources in the AutoPost Criteri

Divide up criteria sets by subledger source only if you need to schedule different posting times

Schedule your AutoPost Criteria set to run during off-peak hours only

Question 9

You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What so you need to enable?

Drill Through in Grid Properties

Nothin

All report balances are drillable in all FR Studio reports

Allow Expansion

Report Functions

Question 10

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?

Define three segments for the company, department, and natural accoun

The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.

Define four segments for the company, department, natural account, and intercompany segmen

The qualifiers should be primary balancing segment, cost center segment, and natural account segment, and intercompany segment, respectively.

Define three segments for the company, department, and natural accoun

The qualifiers should be primary balancing segment, cost center segment, and natural account segment, respectively.

Define five segments for the company, department, natural account, intercompany, and future use segmen

The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.

Question 11

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?

Make sure to flatten the rows of the tree version

Make sure the tree is active

Make sure the tree version was published successfully

Redeploy the chart of accounts

Question 12

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.)

You can create a rule for all sources and categories by selecting the source “Other” and the category “Other”.

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.

You must define rules for every combination of specific categories and source

Otherwise, the intercompany balancing will not work.

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.

Question 13

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?

Account Analysis Reports

Aging Reports

an Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances

Journals Reports

Question 14

Your customer wants to create fully balanced balance sheets for the Company, Line of Business, and Product segments for both financial and management reporting.
What is Oracle’s recommended method for doing this?

Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions

Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting

Create three segments for the Company, Line of Business, and Product segments and qualify them as primary balancing segment, second, and third balancing segments, respectively

Create two segments where the first segment represents the concatenation of Company and Line of Business, and then enable secondary tracking for the Product segment

Question 15

You entered a journal and the client is asking for the following information:
1Z0-1054 dumps exhibit

The current account balance
1Z0-1054 dumps exhibit

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

Query the account balance online

Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances

View the Projected Balances region in the Create Journals page

Run a Trial Balance before and after posting

Question 16

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

The purchase order is canceled or finally closed or rejected without performing any receipt or invoice

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

The requisition reserved successfully undergoes amendment and is rejected in the reapproval

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

Question 17

You create an invoice for USD 100 that is matched to a purchase order of USD 100. You validate the invoice to consume the budget and reduce funds available. And then later, you cancel the invoice. What happens to funds available when you cancel an invoice that requires budgetary control?

Funds available will change when the invoice is approved

The funds reserved for the purchase order is reinstated while the invoice expenditure is reserved by USD 100

The budget will increase by USD 100 and the funds available will decrease by USD 100

The budget and funds available will increase by USD 100

Question 18

Encumbrance accounting is enabled for your ledger. An encumbrance journal dated 3/15/16 was recorded for a purchase order.
The invoice was entered on 5/5/16, but the invoice accounting date was 4/20/16. The encumbrance journal for liquidating the purchase order encumbrance is dated 5/5/16.
What is causing this?

The actual accounting date was set up under the encumbrance accounting Default Date Rule

The current transaction accounting date was set up under the encumbrance accounting Default Date Rule

The subledger accounting option is set to system date

The system date was set up under the encumbrance accounting Default Date Rule

The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule

Question 19

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.)

While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing

While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning

Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit

While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving

Define budgetary control at ledger level and only encumbrance control at the business units

Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving

Question 20

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.)

You only need to assign the Legal Entity and Organization Contact

You can only associate one Intercompany Organization per Legal Entity

You must have implemented Payables Cloud and Receivables Cloud

You must assign the corresponding Receivables and Payables Business Units

Question 21

You want to monitor the close process of all your financial subledgers and ledgers. How can you quickly obtain this information?

Use the Manage Accounting Periods page to view the status of all subledgers and ledgers

Access each subledgers’ calendar and General Ledger’s Manage Accounting Periods page to view the status of each period

Run Closing Status reports

Use Close Monitor in General Accounting Dashboard

Question 22

Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation. What feature can you use to be proactively notified of account anomalies in a more timely manner?

Account Monitor

Financial Reports with Embedded charts

Smart View

Account Inspector and its charts

Question 23

Which reporting tool is best suited for submitting high-volume transactional reports, such as Invoice Registers or Trial Balance reports, that can be configured to extract the data in Rich Text Format or xml?

Oracle Transactional Business Intelligence (OTBI)

Business Intelligence Publisher (BI Publisher)

Financial Reporting Center

Smart View

Oracle Data Visualization Cloud Service

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Total 78 questions Full Exam Access