1Z0-1054-20 Online Practice Questions and Answers

When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two).

A. Financial Reporting Studio

B. Smart View

C. Oracle Financial Statement Generator

D. Financial Reporting Center

You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?

A. Two tree versions were not defined

B. Chart of accounts was not deployed

C. Accounting Configuration was not submitted

D. An Audit process needs to be successfully performed before a tree version can be set to Active

You want to specify Intercompany System Options. Which three factors should you consider? (Choose three.)

A. whether to allow receivers to reject intercompany transactions

B. whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies

C. automatic or manual batch numbering and the maximum transaction amount

D. the approvers who will approve intercompany transactions

E. automatic or manual batch numbering and the minimum transaction amount

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

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.)

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

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

C. Export the table to Excel

D. Use the Freeze feature on the tables to scroll through large amounts of data

The Create Accounting program could not determine the debit side of the journal entry.

Which component of Subledger Accounting determines the debit or credit side of a journal entry?

A. Journal Balances Rule

B. Journal Entry Rule Set

C. Journal Line Rule

D. Journal Accounting Rule

E. Account Rule

All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting.

What is Oracle's recommended approach to performing consolidations?

A. Use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment

B. Use Oracle Hyperion Financial Management for this type of complex consolidation

C. Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger

D. Define multiple ledgers for consolidation and report on ledger set

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

You entered a journal and the client is asking for the following information: The current account balance The future account balance if the journal is approved and posted

How will you get this information?

A. Run a Trial Balance before and after posting

B. Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances

C. View the Projected Balances region in the Create Journals page

D. Query the account balance online