1z0-1054-20 by Oracle Actual Free Exam Questions And Answers

Question 1

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. Run a Trial Balance before and after posting

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

C. Query the account balance online

D. View the Projected Balances region in the Create Journals page

Discussion 0

Correct Answer: D Vote an answer

Question 2

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 3

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. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method

B. Chart of Accounts and Business Units

C. Legal Entities, Business Units, and Chart of Accounts

D. Accounting Calendar

E. Chart of Accounts

Discussion 0

Correct Answer: D,E Vote an answer

Question 4

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. 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.

B. You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work.

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

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.

Discussion 0

Correct Answer: C,D Vote an answer

Question 5

Which subject area has been enhanced to allow you to drill down from OTBI General Ledger Reports to a General Ledger journal?

A. General Ledger - Journal Transaction Balances Real Time

B. General Ledger - Journal Balances Real Time

C. General Ledger - Journals Real Time

D. General Ledger - Summary Journals Real Time

Discussion 0

Correct Answer: C Vote an answer

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Question 6

You want to monitor the close process of all 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. Use Close Monitor in General Accounting Dashboard

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

D. Run Closing Status reports

Discussion 0

Correct Answer: C Vote an answer

Question 7

You need to create a month-end reporting package for an upcoming Audit Committee meeting, you have 10 financial reports that you want to share with executives and auditors that are nicely formatted.
Identify the two Oracle recommended ways to accomplish this. (Choose two.)

A. Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee

B. Use OTBI to create multiple reports that you save to a folder that only the users can access

C. Use a report batch to run reports at a specific time to create a set of snapshot reports

D. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet

E. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book

Discussion 0

Correct Answer: C,E Vote an answer

Question 8

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

A. One View Reporting

B. PS/nVision

C. Rapid Implementation Enterprise Structures setup

D. Account Inspector

Discussion 0

Correct Answer: D Vote an answer

Oracle Financials Cloud: General Ledger 2020 Implementation Essentials - 1z0-1054-20 Exam Practice Test

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