1Z0-1054-21 by Oracle Actual Free Exam Questions And Answers

Question 1

After Loading your ledger data into General Ledger cloud, you can view budget balances using those features. Which feature does not belong on list?

A. Account Inspector

B. Account Monitor

C. Application Development framework Desktop Integration Budget Balances Report

D. Smart View

Discussion 0

Correct Answer: C Vote an answer

Question 2

The expense account of airfare was erroneously assigned to the account type "Liability". Which method should you choose to fix the problem?

A. Run the "Segment Value Inheritance" program

B. Deactivate the value

C. Run the "Correct Misclassified Account" program

D. Run the "Update Balance Cube Chart of the Accounting Dimension" program

Discussion 0

Correct Answer: C Vote an answer

Question 3

What are the Two purposes of a secondary ledger?

A. it should not be used when trying to meet local accounting requirements.

B. it should only be used to maintain balances for processing performance.

C. it is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting.

D. it can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency and/or journal processing options

E. it is used to main balances in a different currency only

Discussion 0

Correct Answer: C,D Vote an answer

Question 4

Your client has been using Budgetary Control for six months. Now, they want to use the: spend Authorization After opting in the new feature Spend Authorization with Budgetary Control, what additional field actions need to be accomplished to activate this feature? .

A. Enable Payment Request Subtypes

B. Enable spend authorization

C. Rebuild the Budgetary Control Cube.

D. Create a Payment Process Profile

E. Rebuild the GL Balances Cube

Discussion 0

Correct Answer: A,B,C Vote an answer

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Question 5

Identify three roles that get access to the reports in the Fusion Accounting Hub Reporting Cloud Service (FAHRCS). (Choose three.)

A. Controller

B. General Accountant Manager

C. Business Intelligence Administrator (BI Admin)

D. Financial Analyst

E. General Accountant

Discussion 0

Correct Answer: B,D,E Vote an answer

Question 6

You want to prevent intercompany transactions from being entered during the last day of the close.
What should you do?

A. Close Intercompany periods in Fusion Intercompany

B. Freeze the Intercompany journal source in General Ledger

C. Close all subledger periods

D. Close the General Ledger period in the Manager Accounting Periods page

Discussion 0

Correct Answer: A Vote an answer

Question 7

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?

A. 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

B. 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

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

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

Discussion 0

Correct Answer: B Vote an answer

Question 8

Your Customer requires physical invoice to be generated in payables Cloud and Receivable Cloud for the intercompany payables and receivable transactions. Which two statements are correct with regards to selling this up?

A. You must have implemented Payables Cloud and Receivables Cloud.

B. you only need to assign the legal entity and organization chart

C. you can only associate one Intercompany Organization per legal Entity.

D. You must assign the corresponding Receivables and Payables Business Units.

Discussion 0

Correct Answer: A,D Vote an answer

Question 9

Which two statements are true regarding infotiles and infolets?

A. Infotiles have Front view, Back view, and Expanded view.

B. You can create your own user defined Infolets.

C. Infotiles pull data from Oracle Transactional Business Intelligence Analyses.

D. You can refresh infolets to see up-to-date data.

E. Infolets are accessed only from the Newsfeed homepage layout.

Discussion 0

Correct Answer: A,B Vote an answer

Question 10

You create a prepayment for USD 100 and validate it to consume the budget and reduce available funds under the prepayment account. You then pay the prepayment of USD 100 create an invoice for USD 300, and validate the* invoice to consume the budget and reduce available funds for the expense-accounts used in the invoice. You then apply the prepayment fully on to the invoice and revalidate it. What happens to the available funds when you apply a prepayment that requires budgetary control?

A. The prepayment application releases funds of 300 USD and the invoice consumes funds of 300 USD, with a net decrease to available funds of 100 USD.

B. The prepayment application was already released at the time of payment and the invoice consumes funds of 300 USD.

C. The prepayment application releases funds of 200 USD and the invoice consumes funds of 100 USD, with a net decrease to available funds of 200 USD.

D. Available funds will not change till invoice is approved.

E. The budget will be released only for the USD 300 invoice amount.

F. The prepayment application releases funds of 100 USD and the invoice consumes funds of 300 USD, with a net decrease to available funds of 200 USD.

Discussion 0

Correct Answer: E Vote an answer

Oracle Financials Cloud: General Ledger 2021 Implementation Essentials - 1Z0-1054-21 Exam Practice Test

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