Best Preparations of 1z0-1054-20 Exam 2022 Oracle Financials Cloud Unlimited 103 Questions
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An Oracle Financials Cloud: a trained development professional from General Ledger 2020, has a clear foundation and experience in the sale or deployment of Oracle Financials Cloud Resources. Themes such as: general configuration, market processes, journal production, sub-processing, inter-company processing, monitoring & dashboards, closing time and budgetary control & encumbrance are included in the qualification test. We suggest up-to-date preparation and field knowledge.
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NEW QUESTION 47
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?
- A. a SmartView analysis
- B. General Ledger inquiries and reports
- C. an OTBI analysis
- D. an Account Group
Answer: C
Explanation:
Explanation/Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/ocuar/oracle-fusion-subledger-accounting- reports.html#OCUAR1448300
NEW QUESTION 48
Identify three roles that get access to the reports in the Fusion Accounting Hub Reporting Cloud Service (FAHRCS). (Choose three.)
- A. General Accountant
- B. General Accountant Manager
- C. Financial Analyst
- D. Business Intelligence Administrator (BI Admin)
- E. Controller
Answer: B,C,D
NEW QUESTION 49
You need to set up a calendar for fiscal year Apr-XX to March-YY where YY is the following year, and you would like the periods to be named according to the year they fall in.
What Calendar format should you choose?
- A. Period
- B. Year
- C. Fiscal
- D. Calendar
Answer: A
NEW QUESTION 50
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. The requisition reserved successfully undergoes amendment and is rejected in the reapproval
- C. 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
- 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: A,C
NEW QUESTION 51
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. If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger
- B. 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
- C. You must map legal entities to balancing segment values in order to use a clearing company
- D. Clearing companies are not supported
- E. If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity
Answer: A,B,E
NEW QUESTION 52
You want to define an allocation rule where segment values are constants for rules and formulas. What should you do?
- A. Always use the Outer Point of View (POV)
- B. Only specify segment values in formulas
- C. Never use the Outer Point of View (POV)
- D. Specify Run Time Prompts (RTP)
Answer: A
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 53
You are implementing Segment Value Security rules. Which two statements are true? (Choose two.)
- A. You can use hierarchies to define rules
- B. When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts
- C. The Segment Value Security rules do not take effect until you assign the rules to users and products
- D. 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
Answer: A,D
NEW QUESTION 54
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. Application Development Framework Desktop Integration (ADFdi)
- B. Account Group
- C. Budget Group
- D. Budget Account Group
- E. Budget Controller
Answer: B
NEW QUESTION 55
Budgetary control for accounts 5020 and 5021 has a budget of $90,000USD each for the year 2012. The accounts also have balances on obligation of $10,000 USD for each and an expenditure of $20,000 USD for each. A Fund of $50,000 USD is available for account 5010 only. You have run the Encumbrance Year End Carry Forward process for obligation from the last period of the year 2012 to the first period of year 2013.
Which statement is true?
- A. If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.
- B. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forward
- C. If you have included 5020 and 5021 in the encumbrance rule, the budget balances $90,000 USD, obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.
- D. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward
- E. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances
Answer: B
NEW QUESTION 56
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. the Transaction Account Definition
- B. Intercompany transaction type default accounts
- C. a Provider and Receiver distribution set
- D. the AutoAccounting Definition
Answer: C
NEW QUESTION 57
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. Event Class
- B. Journal Entry Rule Set
- C. Event Type
- D. Journal Line Rule
- E. Journal Entry
Answer: D
NEW QUESTION 58
You are implementing a multipillar implementation of both HCM Cloud and ERP Cloud. You are implementing ERP first followed by HCM Cloud. You want to ensure your ledgers and chart of accounts are correctly defined. What should you do? (Choose three)
- A. Use the Rapid Implementation spreadsheet when creating your enterprise structure
- B. Deploy your chart of accounts
- C. Use HCM's Enterprise Structure Configurator (ESC) first
- D. Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies
- E. Create your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets
Answer: A,B,C
NEW QUESTION 59
After loading your budget data into General Ledger Cloud, you can view budget balances using these features.
Which feature does not belong on the list?
- A. Smart View
- B. Account Monitor
- C. Account Inspector
- D. Application Development Framework Desktop Integration Budget Balances Report
Answer: D
NEW QUESTION 60
You are using Oracle General Ledger (GL), Oracle Payables and Oracle Receivables and would like to prevent the closure of the GL period if the corresponding subledger period is not closed.
How will you achieve this?
- A. Set the ORA_GL_INCLD_STRICT_PRD_CLOSE profile option to yes
- B. Nothing, this option is enabled automatically
- C. Set the relevant option on the Specify Ledger Options page
- D. Opt in to the Prevent Period Close option for the offering
Answer: D
NEW QUESTION 61
The general accountant is trying to update the cost center for the Default Suspense Account in the Ledger Options to match the cost center for the Rounding Account.
The rounding account is showing as 01-110-7699-00; however, 110 is not appearing in the List of Values for the accountant to select in the Suspense Account.
What is the reason for this?
- A. A cross validation rule is in place to prevent the resulting combination from being created
- B. The general accountant does not have the Financials Application administrator role assigned and, therefore, has view-only privileges on this page
- C. There is a primary balancing segment attached to the legal entity of the primary ledger
- D. The general accountant has a segment value security rule assigned which restricts access to that cost center
Answer: A
NEW QUESTION 62
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. Enter another adjusting journal entry in the target currency to true up the balances
- B. Rerun Translation and then reconsolidate your results
- C. Rerun Revaluation and then rerun Translation
- D. Translate only the adjusting journal entry
Answer: B
NEW QUESTION 63
Your customer wants to create fully balanced balance sheets for the Company, Line of Business, and Product segments for both financial and management reporting.
What is Oracle's recommended method for doing this?
- A. Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting
- B. Create two segments where the first segment represents the concatenation of Company and Line of Business, and then enable secondary tracking for the Product segment
- C. Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions
- D. Create three segments for the Company, Line of Business, and Product segments and qualify them as primary balancing segment, second, and third balancing segments, respectively
Answer: C
NEW QUESTION 64
What are the three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA)? (Choose three.)
- A. Cloud customers can use both OTBI and OBIA
- B. OTBI allows you to create custom reports from real-time transactional data against the database directly
- C. OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications.
- D. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications
- E. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance.
Answer: B,C,D
NEW QUESTION 65
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 are defined centrally and applied across Financials and Projects
- B. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product
- C. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals
- D. Each product has its own Intercompany Accounting feature that needs to be configured separately
Answer: C,D
NEW QUESTION 66
Which two statements are true regarding how Intercompany Balancing Rule are defined? (Choose two.)
- A. All ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules.
- B. You can only define balancing rules for different journals' sources. You cannot define balancing rules for different journal categories.
- C. You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment values.ys
- D. You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types.
Answer: A,D
NEW QUESTION 67
You need to create a 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.
Identify the two Oracle recommended ways to accomplish this. (Choose two.)
- A. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book
- B. Use a report batch to run reports at a specific time to create a set of snapshot reports
- C. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet
- D. Use OTBI to create multiple reports that you save to a folder that only the users can access
- E. Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee
Answer: A,B
NEW QUESTION 68
Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)
- A. This report displays the intercompany receivables and intercompany payables balances in summary for a period.
- B. This report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
- C. This report displays only the reconciled transactions. You need to further process automatic reconciliation to reconcile the unreconciled transactions.
- D. This report includes Ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.
- E. You can only drill down to the general ledger journal and then from there to the subledger journal entry.
Answer: A,B
Explanation:
Explanation/Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/ocuar/oracle-fusion-intercompany- reports.html#OCUAR1573663
NEW QUESTION 69
You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What so you need to enable?
- A. Allow Expansion
- B. Drill Through in Grid Properties
- C. Report Functions
- D. Nothing. All report balances are drillable in all FR Studio reports
Answer: B
NEW QUESTION 70
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