1Z0-1054-20 Online Practice Questions and Answers

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. 6

B. 3

C. 4

D. 5

You are defining an income statement report 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?

A. Nothing. All report are drillable

B. Drill Through in Grid Properties

C. Drill Down in Report Functions

D. Allow Expansion in Report Functions

You want to monitor the close process of all financial subledgers and ledgers.

How can you quickly obtain this information?

A. Use the Manage Accounting Periods page to view the status of all subledgers and ledgers

B. Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period

C. Run Closing Status reports

D. Use Close Monitor in General Accounting Dashboard

Your customer has many eliminating entries to eliminate intercompany balances.

How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?

A. Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period.

B. There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management.

C. Create a manual journal that includes the eliminating entries, and then create a copy of the journal batch every period.

D. Use the spreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period.

You have exported data from your budgeting application into a .csv file.

What should you use to load that data into General Ledger?

A. The budget journal spreadsheet

B. Enterprise Resource Budget Integrator

C. File Based Data Import

D. Application Developer Framework Desktop Integrator

You want to prevent intercompany transactions from being entered during the last day of the close.

Assuming Intercompany and General Ledger use the same calendar what should you do?

A. Close the General Ledger period in the Manage Accounting Periods page

B. Close Intercompany periods in Oracle Intercompany

C. Close all intercompany subledger periods

D. Freeze the Intercompany journal source in General Ledger

You want to achieve multi-step cascading allocations, which feature do you use?

A. RuleSets

B. Formulas

C. Point of View (POV)

D. General Ledger journal entries

Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation.

What feature can you use to be proactively notified of account anomalies in a more timely manner?

A. Financial Reports with Embedded charts

B. Smart View

C. Account Monitor

D. Account Inspector and its charts

Your enterprise structure has one ledger and two business units. Business unit one wants to enable budgetary control for Requisitioning only in 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. Define budgetary control at ledger level and only encumbrance controls at the business units.

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. While defining control for business unit one, disable control for Procurement, Expense Management, Payable Invoicing, and Receiving.

E. While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning.

F. Define control for business unit two to disable control for Requisitioning, Procurement, Expense Management, and Receiving.

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

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

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

D. Define two different charts of accounts