Last 1z0-1054-22 practice test reviews Practice Test Oracle dumps [Q21-Q45]

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Last 1z0-1054-22 practice test reviews: Practice Test Oracle dumps

Try 1z0-1054-22 Free Now! Real Exam Question Answers Updated [Aug 15, 2022]

QUESTION 21
You want to monitor the close process of all your financial subledgers and ledgers. How can you quickly obtain this information?

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

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

Run Closing Status reports

Use Close Monitor in General Accounting Dashboard

QUESTION 22
You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?

Two tree versions were not defined

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

Accounting Configuration was not submitted

Chart of accounts was not deployed

QUESTION 23
You need to define multiple allocation rules as efficiency as possible.
Which three components can be reused across allocation rules? (Choose three.)

Point of View (POV)

Formulas

Run Time Prompts (RTP)

RuleSets

QUESTION 24
Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)

You can only drill down to the general ledger journal and then from there to the subledger journal entry.

This report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.

This report displays only the reconciled transactions. You need to further process automatic reconciliation to reconcile the unreconciled transactions.

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.

This report displays the intercompany receivables and intercompany payables balances in summary for a period.

QUESTION 25
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?

Drill Through in Grid Properties

Nothing. All report balances are drillable in all FR Studio reports

Allow Expansion

Report Functions

QUESTION 26
Your customer uses Financials Cloud, Projects, Inventory and Procurement.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)

Each product has its own Intercompany Accounting feature that needs to be set up separately

Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals

Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management

They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub

QUESTION 27
In which two ways can your users customize the Springboards and Work Areas to suit their individual working styles? (Choose two.)

Users have very little control their Springboards and Work Areas; they can only resize columns

They can use Personalization to move and remove regions from those pages

They can have the System Administration customize pages for them using Page Composer

They can format each table by hiding and showing columns, moving columns, and resizing columns

QUESTION 28
Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries. What is Oracle’s recommended practice when implementing a new chart of accounts? How many segments and what segment qualifiers should be used?

Define three segments for the company, department, and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.

Define four segments for the company, department, natural account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, and intercompany segment, respectively.

Define three segments for the company, department, and natural account. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, respectively.

Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.

QUESTION 29
You entered a journal and the client is asking for the following information:
The current account balance
What the future account balance will be if the journal is approved and posted How will you get this information?

Query the account balance online

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

View the Projected Balances region in the Create Journals page

Run a Trial Balance before and after posting

QUESTION 30
A subsidiary company, in a highly regulated country, where there is a legal requirement to produce fiscal reports under local GAAP, is about to configure their General Ledger.
Given the following:
Subledgers transferring to general ledger must use the local currency.
There is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS).
Which two ledger types should be configured to address this reporting requirement? (Choose two.)

a primary ledger with the local accounting convention

a reporting currency with the IFRS accounting convention

a primary ledger with the IFRS accounting convention

a secondary ledger with the IFRS accounting convention

a reporting currency with the local accounting convention

QUESTION 31
When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two).

Financial Reporting Studio

Smart View

Oracle Financial Statement Generator

Financial Reporting Center

QUESTION 32
What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availability? (Choose two.)

The purchase order is canceled or finally closed or rejected without performing any receipt or invoice

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

The requisition reserved successfully undergoes amendment and is rejected in the reapproval

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

QUESTION 33
You just submitted the Accounting Configuration. What two things must happen before you can enter journals? (Choose two.)

You must re-deploy the chart of accounts

A Data Access Set with full read/write access to the ledger is automatically created

You must define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration

You must assign the job role and data security context to each user

QUESTION 34
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?

QUESTION 35
Identify three roles that get access to the reports in the Fusion Accounting Hub Reporting Cloud Service (FAHRCS). (Choose three.)

Controller

General Accountant

General Accountant Manager

Business Intelligence Administrator (BI Admin)

Financial Analyst

QUESTION 36
What are the three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA)? (Choose three.)

Cloud customers can use both OTBI and OBIA

OTBI allows you to create custom reports from real-time transactional data against the database directly

OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications.

Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance.

OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications

QUESTION 37
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?

Budget Controller

Budget Group

Account Group

Budget Account Group

Application Development Framework Desktop Integration (ADFdi)

QUESTION 38
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?

Nothing. All report are drillable

Drill Through in Grid Properties

Drill Down in Report Functions

Allow Expansion in Report Functions

QUESTION 39
In which two ways can your users personalize the Springboards and Work Areas to suit their individual working styles? (Choose two.)

They can format certain tables by hiding and showing columns, moving columns, and resizing columns

Users have very little control configuring their Springboards and Work Areas; they can only resize columns

They can have the System Administrator configuring pages for them using Page Composer

They can use “+” under the Apps section of the News Feed homepage

QUESTION 40
You set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. Which two actions should you now perform? (Choose two.)

Ensure that the Accounting Calendar and Currency are the same as the Primary Ledger

Define Journal Conversion Rules that include subledgers in order to transfer subledger transactions

Define Journal Conversion Rules that exclude subledgers

Assign a Subledger Accounting Method to the secondary ledger

Define Supporting References with balances

QUESTION 41
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?

Account Monitor

Financial Reports with Embedded charts

Smart View

Account Inspector and its charts

QUESTION 42
You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for $300 is matched to the purchase order. What will be the funds status of the purchase order and the invoice?

Both are Partially Reserved

The purchase order is Liquidated and the invoice is Partially Reserved

The purchase order is Partially Liquidated and the invoice is Partially Reserved

The purchase order is Partially Liquidated and the invoice will be Reserved

Both are reserved

The purchase order is Open and the invoice is Validated

QUESTION 43
Which two statements are true regarding how Intercompany Balancing Rule are defined? (Choose two.)

All ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules.

You can only define balancing rules for different journals’ sources. You cannot define balancing rules for different journal categories.

You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types.

You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment values.ys

QUESTION 44
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?

Run Revaluation as often as you need to the more stable currency and report on the more stable currency’s balances

Run Revaluation to translate into Statistical Currency

Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency

Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency

QUESTION 45
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?

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

The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances

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.

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.

If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward