Downloadable 1z0-1054 Samples 2021

NEW QUESTION 1
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 2
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 3
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 4
You are implementing Segment Value Security rules. Which two statements are true? (Choose two.)

• A. When you enable Segment Value Security on a segment, users will not be able to access any values until you grant access to users and products
• B. You can use hierarchies to define rules
• C. When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts
• D. The Segment Value Security rules do not take effect until you assign the rules to users and products

Answer: AB

NEW QUESTION 5
What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)

• A. Posting performance is much faster
• B. Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules
• C. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis
• D. You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously
• E. You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts

Answer: CD

NEW QUESTION 6
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 7
How do Cross Validation Rules (CVRs) handle existing violations in the Code Combinations Identification (CCID) table?

• A. Nothing has change
• B. If you have an invalid account combination existing in the table, you must deactivate it to prevent further usage
• C. CVRs are assigned to the end user role; therefore controlling what account code combination individuals can leverage in the General Ledger and the subledgers
• D. CVRs only test new account combinations being inserted into the tabl
• E. They ignore any invalid account combinations already existing in the table
• F. If CVR determines that an invalid combination exists in the CCID table, it will automatically disable that account code combination.

Answer: C

NEW QUESTION 8
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 9
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 10
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 11
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 12
You want to specify Intercompany System Options. Which three factors should you consider? (Choose three.)

• A. the approvers who will approve intercompany transactions
• B. whether to allow receivers to reject intercompany transactions
• C. whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies
• D. automatic or manual batch numbering and the maximum transaction amount
• E. automatic or manual batch numbering and the minimum transaction amount

Answer: BCE

NEW QUESTION 13
What are the two purposes of a secondary ledger? (Choose two.)

• A. It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options
• B. It should not be used when trying to meet local accounting requirements
• C. It is used to main balances in a different currency only
• D. It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting
• E. It should only be used to main balances for processing performance

Answer: AD

NEW QUESTION 14
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 15
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
• C. General Accountant Manager
• D. Business Intelligence Administrator (BI Admin)
• E. Financial Analyst

Answer: CDE

NEW QUESTION 16
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?

• A. Import Budget Amounts from Spreadsheet (XCC_IMPORT_BUDGET_FROM_SPREADSHEETS_PRIV)
• B. Import Budget Amounts (XCC_IMPORT_BUDGET_PRIV)
• C. Manage Control Budgets (XCC_MANAGE_CONTROL_BUDGETS_PRIV)
• D. Budget Loading (XCC_BUDGET_LOADING_DUTY_PRIV)

Answer: B

NEW QUESTION 17
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 18
Which feature outside of reporting and analysis leverages the Essbase cube?

• A. revaluations and translation to revalue and translate currencies stored in the Essbase cube
• B. calculation manager to perform allocations based on multidimensional balances and budgets
• C. period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync
• D. journal entries and journal approval to create journals that update balances to the cube directly

Answer: A

NEW QUESTION 19
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 20
You want to prevent intercompany transactions from being entered during the last day of the close. What should you do?

• A. Freeze the Intercompany journal source in General Ledger
• B. Close all subledger periods
• C. Close the General Ledger period in the Manager Accounting Periods page
• D. Close Intercompany periods in Fusion Intercompany

Answer: C

NEW QUESTION 21
Most of the accounting entries for transactions form your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.
At what level can you override the default accounting attribute assignment?

• A. Journal Entry Rule Set
• B. Event Type
• C. Journal Line Rule
• D. Journal Entry
• E. Event Class

Answer: C

NEW QUESTION 22
You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?

• A. Two tree versions were not defined
• B. An Audit process needs to be successfully performed before a tree version can be set to Active
• C. Accounting Configuration was not submitted
• D. Chart of accounts was not deployed

Answer: B

NEW QUESTION 23
The budget managers specify the budget accounts they want to monitor and decide on percentage threshold of funds availability. Where must you define the details while analyzing budget balances in the Budget Account Monitor page?

• A. Budget Controller
• B. Budget Group
• C. Account Group
• D. Budget Account Group
• E. Application Development Framework Desktop Integration (ADFdi)

Answer: D

NEW QUESTION 24
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