Oracle Financials Cloud: General Ledger 2023 Implementation Professional (1z0-1054-23) Free Practice Test

Question 1

You need to set up a calendar for the year Apr-XX to Mar-YY where YY is the following year, and you would like the periods to be named according to the year they fall in.
What format should you choose?

A. Period

B. Fiscal Year

C. Calendar Year

D. Year

Correct Answer: B

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Question 2

Which two are valid Data Access Set types? (Choose two.)

A. Read Only access

B. Full access

C. Full Ledger

D. Read and Write access

E. Primary Balancing Segment Value

Correct Answer: A,B

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Question 3

An Oracle Fusion Cloud customer has a complex enterprise structure that includes multiple legal entities in multiple countries. To match the intercompany balancing requirements, all four levels of rules have been defined. In user testing, the business experts are asking which rule will be considered first when balancing an intercompany journal?

A. Ledger-level rule

B. Legal entity-level rule

C. Primary balancing segment rule

D. Chart of accounts rule

Correct Answer: C

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Question 4

Which two statements are true about the Intercompany Reconciliation report?

A. It displays the intercompany receivables and intercompany payables balances in summary for a period.

B. You can only drill down to the General Ledger journal and then from there to the Subledger journal entry.

C. It includes ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.

D. It displays all clearing company balancing lines for a period.

E. It can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.

Correct Answer: A,E

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Question 5

In the implementation project, there is a requirement to add new transactional attributes to the journal approval notification.
Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.)

A. The Data Model

B. The Style Template

C. Output type

D. The Sub Template

E. The layout Template

Correct Answer: A,C

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Question 6

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's recommended method to define this chart of accounts?

A. Create two different value sets for the company and intercompany segments.

B. Define the company segment and assign both the primary balancing segment and intercompany segment labels.

C. Share the same value set for the company and intercompany segments.

D. Define the intercompany segment with a default value.

Correct Answer: C

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Oracle Financials Cloud: General Ledger 2023 Implementation Professional (1z0-1054-23) Free Practice Test