View All 1Z0-1054-21 Actual Exam Questions, Answers and Explanations for Free [Q14-Q38]

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View All 1Z0-1054-21 Actual Exam Questions, Answers and Explanations for Free

1Z0-1054-21 Exam Free Practice Test with100% Accurate Answers

NEW QUESTION 14
Alter submitting the journal for approval, you realize that the department value in the journal incorrect.
How do you correct the value?

Delete the journal and create a new journal

Click the Withdraw Approval button in the Edit Journals page and edit the journal

Reverse the journaland create a new one

Update the journal through workflow

NEW QUESTION 15
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?

Nothing. All report are drillable

Drill Through in Grid Properties

Drill Down in Report Functions

Allow Expansion in Report Functions

NEW QUESTION 16
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.)

Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process

Create your AutoPost criteria using minimal sources and categories

Include all of your subledger sources in the AutoPost CriteriA. Divide up criteria sets by subledger source only if you need to schedule different posting times

Schedule your AutoPostCriteria set to run during off-peak hours only

NEW QUESTION 17
Which two types of journals can be automatically routed through the journal approval process

Journals imported from third-party systems

Allocation journals

Revaluation journals

Manual journals

Sub ledger journals

NEW QUESTION 18
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?

Define the company segment only and qualify it as both the primary balancing segment and intercompany segment

Define two different charts of accounts

Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance

Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level

NEW QUESTION 19
Management has added a requirement to segregate the duties oftransferring journals to the General Ledger from the posting function. Which two new features allow this segregation? (Choose two.)

Uncheck the Enable Posting from the Manage Subledger Accounting Options task.

Journal entry spreadsheets are not impacted by this new function.

Must have separate user defined roles using the privilege
XLA_CREATE_GENERAL_LEDGER_AND_SUBLEDGER _JOURNALS.

For previously scheduled automated processes, it is recommended to cancel and rescheduled the process for the option to be effective.

NEW QUESTION 20
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.)

Use the Freeze feauture on the tables to scroll through large amounts of data

Run a Business Intelligence Publisher report with Excel as the output format

Export the table to Excel

Detach the table to resize it to the maximum size of the monitor.

NEW QUESTION 21
When creating financial Reports which two tools use data from the General Ledger Balances Cube?

Oracle Financial Statement Generator

Smart view

Financial Reporting Center

Financial Reporting Studio

NEW QUESTION 22
Which reporting tool is best suited for submitting high-volume transactions reports, such as Invoice Registers or Trial Balance reports, that can be configured to extract the data in Rich Text Format or xml?

Oracle Data Visualization Cloud Service

Financial Reporting Center

Business Intelligence Publisher (BI Publisher)

Smart View

NEW QUESTION 23
Which feature outside of reporting and analysis leverages the Essbase cube?

Journal entries and journal approval to create journals that update balances to the cube directly.

Revaluations and translation of revalue and translate currencies stored in the Essbase cube

period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync

Calculation manager to perform allocations based on multidimensional balances and budgets

NEW QUESTION 24
Yourcustomer 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.)

You must map legal entities to balancing segment values in order to use a clearing company

If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger

Clearing companies are not supported

If you map legal entities to balancing segment values,then a clearing company can only be applied within a legal entity

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

NEW QUESTION 25
You have set up a supporting reference with balances to capture revenue by account manager.
Which option should you use to view the supporting reference balances?

an Account Group

an OTBI analysis

a SmartView analysis

General Ledger inquiries and reports

NEW QUESTION 26
Which Subject area has been enhanced to allow you to drill down from OTBI General Report to a General Journal?

General Ledger – Journal Real Time

General Ledger – Summary Balances Real Time

General Ledger – Journal Balances Real Time

General Ledger – Journal Transaction Balances Real Time

NEW QUESTION 27
You need to create a boardroomready 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.
What are the two Oracle recommended ways to accomplish this? (Choose two.)

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

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

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

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

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

NEW QUESTION 28
You need to integrate Fusion Accounting Hub with external source systems used for Billing. Identify the step that is not correct when implementing this integration.

Create the accounting in the source system and then import the journal entries into subledger accounting

Capture accounting events

Analyze external system transactions

Determine the accounting impact of transactions

NEW QUESTION 29
Which two statements are true regarding how intercompany balancing rule, are defined? (Choose Two)

All Ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules

You can only define balancing rules for different journals sources. You cannot define balancing rules for different journal categories

You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types

you can define different rules for different chart of accounts, ledgers, legal entities, and primary balancing segment value.

NEW QUESTION 30
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 poste how will you get this information?

View the Projected Balances region in the create Journals page.

Run a Trial Balance before and after posting

Query the account balance online

Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger Balances

NEW QUESTION 31
Before implementing Financials Cloud, your customerused to manually reconcile their intercompany payables and receivables accounts. What is a more automated approach to do this?

Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances

In Financials Cloud, you must manually reconcile your intercompany account balances

Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances

Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance

Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances

NEW QUESTION 32
You have a requirement for the Intercompany Provider and Receiver distribution accounts to be created automatically for all intercompany transactions.
What should you configure?

a Provider and Receiver distribution set

Intercompany transaction type default accounts

the AutoAccounting Definition

the Transaction Account Definition

NEW QUESTION 33
Fusion Accounting Hub includes Hyperion Data Management. For which two tasks can Hyperion Data Management be used?

data access and security

cross-validation rules

integration with transactions from external feeder systems

chart of accounts hierarchy maintenance

chart of accounts master data maintenance

NEW QUESTION 34
There is a business requirement for a subsidiary company to report to the parent company basis.
Given that:
The subsidiary is in another country from the parent.
There is no requirement to have daily balances.
The objective is to minimize the data stored in the reporting currency.
Which data conversion level should you recommend?

Adjustment only level

Spreadsheet level

Journal Level

Balances Level

Subledger level

NEW QUESTION 35
What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose Two)

General Ledger balances are multidimensional, allowing you to perform robust reporting and analysis.

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.

You No longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of Accounts.

Integrating with third-party systems is easier because the Essbase cube provides chart of Accounts mapping rules.

NEW QUESTION 36
Theexpense account of airfare was erroneously assigned to the account type “Liability”. Which method should you choose to fix the problem?

Deactivate the value

Run the “Segment Value Inheritance” program

Run the “Correct Misclassified Account”program

Run the “Update Balance Cube Chart of the Accounting Dimension” program

NEW QUESTION 37
Your company has two legal entities in the US (Balancing Segment Values [BSV] 101 and 102), one legal entity in France (BSV 401), and one legal entity in the UK (BSV 402).
Both US legalentities share the same ledger, whereas the UK and France have their own ledgers.
Assuming intercompany transactions are not being entered, what is the minimal action you can take and still configure the ledgers correctly?

You should assign a balancingsegment value to identify each legal entity in the US Ledger and assign the balancing segment values to the ledger in the UK and France.

You should assign a balancing segment value to identify each legal entity in the US ledger.

You should assign abalancing segment value to identify each legal entity in each ledger.

You should assign the balancing segment value to the ledger in the US and assign a balancing segment value to identify each legal entity in the UK and France ledgers.

NEW QUESTION 38
Your customer is planning to have three balancing segments for generating balance sheets and income statements at cost center segment and program segment levels.
Which tworecommendations would you give your customer? (Choose two.)

Additional intercompany rules will need to be defined for the two additional balancing segments

Every journal where debits do not equal credits across the three balancing segments will result in the system generating extra journal lines to balance the entry

Additional intercompany balancing and clearing options will need to be defined

When entering journals manually, the customer will need to make sure that debits and credits are equalacross all balancing segments because the system will not automatically balance the journal

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