[Feb 06, 2022] 1Z0-1054-21 Exam Brain Dumps - Study Notes and Theory

Pass Oracle 1Z0-1054-21 Test Practice Test Questions Exam Dumps

NEW QUESTION 41
Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)

• A. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product
• B. In Financials Cloud, Intercompany Balancing Rules are usedto balance both cross-ledger allocation journals and single-ledger journals
• C. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects
• D. Each product has its own Intercompany Accounting feature that needs to be configured separately

Answer: B,D

 

NEW QUESTION 42
You are defining an income statementreport using Financial Reporting Studio. Users of the report need to be able to analyze the balances directly from the report.
What should you enable to allow this?

• A. Allow Expansion in Report Functions
• B. Drill Through in Grid Properties
• C. Nothing. All report are drillable
• D. Drill Down in Report Functions

Answer: D

 

NEW QUESTION 43
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'srecommended method to define this chart of accounts?

• A. Define two different charts of accounts
• B. Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level
• C. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance
• D. Define the company segment only and qualify it as both the primary balancing segment and intercompany segment

Answer: B

 

NEW QUESTION 44
What are the two purposes of a secondary ledger? (Choose two.)

• A. It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting
• B. It is used to main balances in a different currency only
• C. It should not be used when trying to meet local accounting requirements
• 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 should only be used to main balances for processing performance

Answer: A,D

 

NEW QUESTION 45
Which tool can you use to create a Financial Income Statement?

• A. One View Reporting
• B. Rapid Implementation Enterprise Structures setup
• C. Account Inspector
• D. PS/nVision

Answer: C

 

NEW QUESTION 46
You want to specify Intercompany System Options. Which three factors should you consider? (Choose three.)

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

Answer: A,B,D

 

NEW QUESTION 47
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 notbe able to access any values until you grant access to users and products
• B. The Segment Value Security rules do not take effect until you assign the rules to users and products
• C. You can use hierarchies to define rules
• D. When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts

Answer: A,C

 

NEW QUESTION 48
On which three occasions are Essbase balances updated? (Choose three.)

• A. every time the tree version is published
• B. every time you run the batch program called "Update Essbase Balances"
• C. at report run-time
• D. every time journals are posted to the general ledger
• E. every time you open a new period

Answer: A,C,D

 

NEW QUESTION 49
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. When viewing the report, download to Excel and use Excel's Charting features to create your bar graph
• B. Use Account Inspector that automatically creates graphs onfinancial balances
• C. Use Smart View, which is an Excel Add-on
• D. When designing your financial statement using Financial Report (FR), embed a chart into your report

Answer: D

 

NEW QUESTION 50
When working with Essbase, versions of the tree hierarchy asdefined in the General Ledger Cloud are not available in the Essbase balances cube. What should you do to correct this situation?

• A. Redeploy the chart of accounts
• B. Make sure the tree is active
• C. Make sure to flatten the rows of the tree version
• D. Make sure the tree version was published successfully

Answer: D

 

NEW QUESTION 51
Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)

• A. This report includes Ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but eitherthe second or third BSVs are not.
• B. This report displays onlythe reconciled transactions. You need to further process automatic reconciliation to reconcile the unreconciled transactions.
• C. This report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
• D. This report displays the intercompany receivables and intercompany payables balances in summary for a period.
• E. You can only drilldown to the general ledger journal and then from there to the subledger journal entry.

Answer: C,D

 

NEW QUESTION 52
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 Inspector and its charts
• B. Smart View
• C. Financial Reports with Embedded charts
• D. Account Monitor

Answer: D

 

NEW QUESTION 53
You just submitted the Accounting Configuration. What two things musthappen before you can enter journals?
(Choose two.)

• A. A Data Access Set with full read/write access to the ledger is automatically created
• B. You must define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration
• C. You must assign the job role and data security context to each user
• D. You must re-deploy the chart of accounts

Answer: A,C

 

NEW QUESTION 54
You have enabled budgetary control and have a control budget set to Advisory control level. ForSeptember
2016, your budget for a given account combination is $5,000 USD. In the same month, there is an approved requisition for that account of $900 and an approved purchase order for that account of $2,500 USD. There is also a General Ledger adjustment journal entry for that account of $1,600 USD. An approved purchase order line of $400 USD is then cancelled. And an invoice is matched to the purchase order for $2,100 USD. Which two statements are true? (Choose two.)

• A. As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016
• B. No change
• C. The system always consumes budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation
• D. Purchase order encumbrance will be released for $2,100 USD
• E. Funds reservation only happens for non-matched invoices, so the system will not reserve funds

Answer: A,D

 

NEW QUESTION 55
You want to define an allocation rule where segment values are constants for rules and formulas. Whatshould you do?

• A. Only specify segment values in formulas
• B. Always use the Outer Point of View (POV)
• C. Never use the Outer Point of View (POV)
• D. Specify Run Time Prompts (RTP)

Answer: B

Explanation:
Explanation
A Point of View is used to define dimension values that remain fixed throughout the entire allocation rule. For example, assume a chart of accounts includes a segment for future use. The Point of View fixes the value to be the default value so that the dimension value does not have to be selected while defining the source, basis, target, offset, or allocation range

 

NEW QUESTION 56
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