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Guide for Oracle-1Z0-1054-21

Quiz Oracle-1Z0-1054-21

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Quiz

1/10
Before implementing Financials Cloud, your customerused to manually reconcile their intercompany payables and receivables accounts. What is a more automated approach to do this?
Select the answer
1 correct answer
A.
Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances
B.
In Financials Cloud, you must manually reconcile your intercompany account balances
C.
Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances
D.
Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance
E.
Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances

Quiz

2/10
Your customer has many eliminating entries to eliminate intercompany balances. The General Ledger does not include a purpose-built Consolidation feature. How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?
Select the answer
1 correct answer
A.
Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period
B.
Use thespreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period
C.
There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management
D.
Create a manual journal that includes the eliminating entries, and then create a copy of the journal batch every period

Quiz

3/10
Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)
Select the answer
2 correct answers
A.
You can only drilldown to the general ledger journal and then from there to the subledger journal entry.
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 onlythe 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 eitherthe second or third BSVs are not.
E.
This report displays the intercompany receivables and intercompany payables balances in summary for a period.

Quiz

4/10
What is the most efficient way to add a new year to the accounting calendar?
Select the answer
1 correct answer
A.
Import the periods from a spreadsheet
B.
Use the Add Year button
C.
Add the periods manually
D.
The application automatically populates the next year when you open the first period of a new fiscal year

Quiz

5/10
Encumbrance accounting is enabled for your ledger. An encumbrance journal dated3/15/19 was recorded for a purchase order. The invoice was entered on 5/5/19, but the invoice accounting date was 4/20/19. The encumbrance journal for liquidating the purchase order encumbrance is dated 5/5/19. What is causing this?
Select the answer
1 correct answer
A.
The actualaccounting date was set up under the encumbrance accounting Default Date Rule
B.
The current transaction accounting date was set up under the encumbrance accounting Default Date Rule
C.
The subledger accounting option is set to system date
D.
The system date was set up under the encumbrance accounting Default Date Rule
E.
The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule

Quiz

6/10
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.)
Select the answer
2 correct answers
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

Quiz

7/10
How can your Accounting Manager expedite journal processing during the time-critical month- end close?
Select the answer
1 correct answer
A.
by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)
B.
by running the Journals report using Business Intelligence Publisher
C.
by using the Journals region to view journals Requiring Attention, RequiringApproval, and Pending Approval from Other
D.
by using the Close Status monitor to drill down on the close status across ledgers

Quiz

8/10
In which two ways can your users personalize the Springboards and Work Areas to suit their individual working styles? (Choose two.)
Select the answer
2 correct answers
A.
They can format certain tables by hiding and showing columns, moving columns, and resizing columns
B.
Users have very little control configuring their Springboards and Work Areas; they can only resize columns
C.
They canhave the System Administrator configuring pages for them using Page Composer
D.
They can use "+" under the Apps section of the News Feed homepage

Quiz

9/10
The budget managers specify the budget accounts they wantto 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?
Select the answer
1 correct answer
A.
Budget Controller
B.
Budget Group
C.
Account Group
D.
Budget Account Group
E.
Application Development Framework Desktop Integration (ADFdi)

Quiz

10/10
You want to process multiple allocations at thesame time. What feature do you use?
Select the answer
1 correct answer
A.
RuleSets
B.
Formulas
C.
General Ledger journal entries
D.
Point of View (POV)
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  • Quiz name:Oracle-1Z0-1054-21
  • Total number of questions:102
  • Number of questions for the test:50
  • Pass score:80%

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