Mar-2023 Latest DumpsTorrent 1z0-1054-22 Exam Dumps with PDF and Exam Engine Free Updated Today!
Following are some new 1z0-1054-22 Real Exam Questions!
NEW QUESTION 11
Journal Description Rules are assigned to Subledger Journal Entry Rule Sets.
What are the other three subcomponents of a Subledger Journal Entry Rule Set? (Choose three.)
- A. Accounting Date
- B. Chart of Accounts
- C. Account Rules
- D. Supporting References
- E. Journal Line Rules
Answer: C,D,E
NEW QUESTION 12
You are creating values for the chart of account value set that you are planning to use for the account segment within your Chart of Accounts.
You are not able to assign an Account Type. What is the reason for this?
- A. The Account Type qualifier has not been enabled when defining the value set
- B. You have not set the Allow Posting attribute for the value set
- C. You are creating values before assigning the value set to the structure
- D. You have not set the Allow Budgeting attribute for the value set
Answer: B
NEW QUESTION 13
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 only the obligation of $10,000 USD 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. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances
- D. 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.
- E. 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.
Answer: B
NEW QUESTION 14
You have enabled budgetary control and have a control budget set to Advisory control level. For September 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. No change
- B. Funds reservation only happens for non-matched invoices, so the system will not reserve funds
- C. Purchase order encumbrance will be released for $2,100 USD
- D. 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
- E. As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016
Answer: C,E
NEW QUESTION 15
In Financial Cloud, which three reporting tools can be used to access General Ledger balances? (Choose three.)
- A. Oracle Transactions Business Intelligence
- B. Oracle Enterprise Repository
- C. Smart View
- D. Application Composer
- E. Financial Reporting Studio
Answer: A,C,E
NEW QUESTION 16
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. You can only drill down to the general ledger journal and then from there to the subledger journal entry.
- 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 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. This report displays only the reconciled transactions. You need to further process automatic reconciliation to reconcile the unreconciled transactions.
Answer: A,C
Explanation:
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NEW QUESTION 17
You operate in a country whose unstable currency makes it unsuitable for managing your day-to-day business. As a consequence, you need to manage your business in a more stable currency while retaining the ability to report in the unstable local currency. What would be your recommendation when defining ledgers?
- A. Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency
- B. Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency
- C. Run Revaluation as often as you need to the more stable currency and report on the more stable currency's balances
- D. Run Revaluation to translate into Statistical Currency
Answer: B
NEW QUESTION 18
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. Business Intelligence Administrator (BI Admin)
- D. Financial Analyst
- E. Controller
Answer: B,C,D
NEW QUESTION 19
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 legal entities 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?
- A. You should assign a balancing segment value to identify each legal entity in the US ledger.
- B. You should assign a balancing segment value to identify each legal entity in the US Ledger and assign the balancing segment values to the ledger in the UK and France.
- C. You should assign a balancing segment value to identify each legal entity in each ledger.
- D. 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.
Answer: D
NEW QUESTION 20
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. Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions
- 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 three segments for the Company, Line of Business, and Product segments and qualify them as primary balancing segment, second, and third balancing segments, respectively
- D. Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting
Answer: C
NEW QUESTION 21
Encumbrance accounting is enabled for your ledger. An encumbrance journal dated 3/15/19 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?
- A. The actual accounting date was set up under the encumbrance accounting Default Date Rule
- B. The subledger accounting option is set to system date
- C. The current transaction accounting date was set up under the encumbrance accounting Default Date Rule
- D. The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule
- E. The system date was set up under the encumbrance accounting Default Date Rule
Answer: C
NEW QUESTION 22
When creating your financial statements, you would like to have a chart, such as a bar graph, included in the report output.
Which two reporting tools allow you to achieve this? (Choose two.)
- A. Financial Statement Generator
- B. Smart View
- C. Financial Reporting Studio
- D. Account Inspector
Answer: B,C
NEW QUESTION 23
All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships. What is Oracle's recommended approach to performing consolidations?
- A. Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.
- B. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then creates a ledger set across all ledgers and report on the ledger set.
- C. Use Oracle Hyperion Financial Management for this type of complex consolidation.
- D. Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program
Answer: D
NEW QUESTION 24
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. Nothing. All report balances are drillable in all FR Studio reports
- B. Drill Through in Grid Properties
- C. Report Functions
- D. Allow Expansion
Answer: B
NEW QUESTION 25
What are the two purposes of a secondary ledger? (Choose two.)
- A. It is used to main balances in a different currency only
- B. It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options
- C. It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting
- D. It should only be used to main balances for processing performance
- E. It should not be used when trying to meet local accounting requirements
Answer: B,C
NEW QUESTION 26
You entered the following information in the Companies and Legal Entities tab of the Rapid Implementation Spreadsheet:
Assuming currency is left blank in the Ledger worksheet, how many Ledgers will the process create?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: C
NEW QUESTION 27
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. Translate only the adjusting journal entry
- D. Rerun Revaluation and then rerun Translation
Answer: B
NEW QUESTION 28
You are reconciling your subledger balances and you need a report that includes beginning and ending account balances and all transactions that constitute the account's activities.
What type of report will provide this type of information?
- A. Journals Reports
- B. Account Analysis Reports
- C. Aging Reports
- D. an Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances
Answer: B
NEW QUESTION 29
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. Calendar
- C. Fiscal
- D. Year
Answer: A
NEW QUESTION 30
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 Smart View, which is an Excel Add-on
- C. When designing your financial statement using Financial Report (FR), embed a chart into your report
- D. Use Account Inspector that automatically creates graphs on financial balances
Answer: C
NEW QUESTION 31
Your enterprise structure has one ledger and two business units. Business unit one wants to enable budgetary control for Requisitioning only on Procure-to-Pay Business Functions and business unit two wants to enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions. Which two statements are correct? (Choose two.)
- A. While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving
- B. While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing
- C. Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit
- D. Define budgetary control at ledger level and only encumbrance control at the business units
- E. Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving
- F. While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning
Answer: A,E
NEW QUESTION 32
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. There is a primary balancing segment attached to the legal entity of the primary ledger
- B. A cross validation rule is in place to prevent the resulting combination from being created
- C. The general accountant does not have the Financials Application administrator role assigned and, therefore, has view-only privileges on this page
- D. The general accountant has a segment value security rule assigned which restricts access to that cost center
Answer: B
NEW QUESTION 33
Your customer has a large number of legal entities. The legal entity values are defined in the company segment which represents the primary balancing segment. They want to easily create eliminating entries for their intercompany activity. What would you recommend?
- A. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the intercompany rules to define
- B. There is no need to define an intercompany segment. You can track the intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner
- C. Define an intercompany segment in the chart of accounts. The Intercompany module and the Intercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment which the balancing segment value of the legal entity with which you are trading
- D. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment
Answer: C
NEW QUESTION 34
What is the most efficient way to add a new year to the accounting calendar?
- A. Use the Add Year button
- B. Add the periods manually
- C. The application automatically populates the next year when you open the first period of a new fiscal year
- D. Import the periods from a spreadsheet
Answer: A
NEW QUESTION 35
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