Simulation 1z0-1054 Questions 2021

NEW QUESTION 1
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 2
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: BDE

NEW QUESTION 3
Journal Description Rules are assigned to Subledger Journal Entry Rule Sets.
What are the other three subcomponents of a Subledger Journal Entry Rule Set? (Choose three.)

• A. Accounting Date
• B. Chart of Accounts
• C. Journal Line Rules
• D. Account Rules
• E. Supporting References

Answer: CDE

NEW QUESTION 4
Which two methods can your General Ledger accountants use to more easily view large amounts of data contained in the tables in their work areas? (Choose two.)

• A. Use the Freeze feauture on the tables to scroll through large amounts of data
• B. Run a Business Intelligence Publisher report with Excel as the output format
• C. Export the table to Excel
• D. Detach the table to resize it to the maximum size of the monitor.

Answer: AD

NEW 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?

• 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 6
Which three objectives must be considered when designing the chart of accounts? (Choose three.)

• A. Anticipate growth and maintenance needs as organizational changes occur
• B. Effectively manage an organization’s financial business
• C. Try to use all 30 segments and 25 characters per segment because you cannot change it later
• D. Consider implementing a single, global chart of accounts
• E. Limit the number of segments to those you need today to reduce data entry

Answer: ABD

NEW QUESTION 7
How can your Accounting Manager expedite journal processing during the time-critical month-end close?

• A. by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)
• B. by running the Journals report using Business Intelligence Publisher
• C. by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Other
• D. by using the Close Status monitor to drill down on the close status across ledgers

Answer: C

NEW QUESTION 8
You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results. What is Oracle’s 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

NEW QUESTION 9
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 maintainstranslated 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

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
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 12
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 13
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?

• A. Oracle Transactional Business Intelligence (OTBI)
• B. Business Intelligence Publisher (BI Publisher)
• C. Financial Reporting Center
• D. Smart View
• E. Oracle Data Visualization Cloud Service

Answer: B

NEW 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: CD

NEW QUESTION 15
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 16
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 17
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

NEW QUESTION 18
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 19
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?

• A. Funds available will change when the invoice is approved
• B. The funds reserved for the purchase order is reinstated while the invoice expenditure is reserved by USD 100
• C. The budget will increase by USD 100 and the funds available will decrease by USD 100
• D. The budget and funds available will increase by USD 100

Answer: B

NEW QUESTION 20
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?

• A. Account Monitor
• B. Financial Reports with Embedded charts
• C. Smart View
• D. Account Inspector and its charts

Answer: C

NEW QUESTION 21
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