oracle 1z0-1054-20 practice test

Oracle Financials Cloud: General Ledger 2020 Implementation Essentials

Last exam update: May 13 ,2024
Page 1 out of 7. Viewing questions 1-15 out of 105

Question 1

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
Answer:

A

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Question 2

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
Answer:

A D

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Explanation:
D18912E1457D5D1DDCBD40AB3BF70D5D

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Question 3

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

  • A. Controller
  • B. General Accountant
  • C. General Accountant Manager
  • D. Business Intelligence Administrator (BI Admin)
  • E. Financial Analyst
Answer:

C D E

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Question 4

In Financial Cloud, which three reporting tools can be used to access General Ledger balances? (Choose three.)

  • A. Application Composer
  • B. Oracle Enterprise Repository
  • C. Oracle Transactions Business Intelligence
  • D. Financial Reporting Studio
  • E. Smart View
Answer:

C D E

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Question 5

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
Answer:

D

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Question 6

Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses in Australia,
New Zealand, and Singapore with a ledger in each country with a Corporate chart of account instance that has four
segments. Which three statements are true regarding the creation of a control budget? (Choose three.)

  • A. The control budget structure has all the chart of account segments as budget segments
  • B. Control budgets are always absolute to generate encumbrance accounting
  • C. A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand, and Singapore
  • D. A control budget can allow override rules only if the control level is absolute
  • E. A control budget can be associated with a different calendar than accounting calendar
Answer:

B D E

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Question 7

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. An Audit process needs to be successfully performed before a tree version can be set to Active
  • C. Accounting Configuration was not submitted
  • D. Chart of accounts was not deployed
Answer:

B

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Explanation:
https://docs.oracle.com/cd/E51367_01/financialsop_gs/OAACT/F1005378AN156C9.htm

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Question 8

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. Drill Through in Grid Properties
  • B. Nothing. All report balances are drillable in all FR Studio reports
  • C. Allow Expansion
  • D. Report Functions
Answer:

A

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Question 9

What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)

  • A. Posting performance is much faster
  • B. Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules
  • C. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis
  • D. You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously
  • E. You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts
Answer:

C D

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Question 10

You are implementing Segment Value Security rules. Which two statements are true? (Choose two.)

  • A. When you enable Segment Value Security on a segment, users will not be able to access any values until you grant access to users and products
  • B. You can use hierarchies to define rules
  • C. When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts
  • D. The Segment Value Security rules do not take effect until you assign the rules to users and products
Answer:

A B

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Question 11

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

  • A. 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.
  • B. 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.
  • C. 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.
  • D. 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.
Answer:

D

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Question 12

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
Answer:

C

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Question 13

The expense account of airfare was erroneously assigned to the account type Liability. Which method should you choose
to fix the problem?

  • A. Deactivate the value
  • B. Run the “Segment Value Inheritance” program
  • C. Run the “Correct Misclassified Account” program
  • D. Run the “Update Balance Cube Chart of the Accounting Dimension” program
Answer:

C

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Question 14

You are setting up Close Monitor, which compromises a ledger set hierarchy definition.
Which two components of the enterprise structure should the ledgers in the ledger set share? (Choose two.)

  • A. Accounting Calendar
  • B. Legal Entities, Business Units, and Chart of Accounts
  • C. Chart of Accounts
  • D. Chart of Accounts and Business Units
  • E. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method
Answer:

A C

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Question 15

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

  • 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 can have the System Administrator configuring pages for them using Page Composer
  • D. They can use “+” under the Apps section of the News Feed homepage
Answer:

A C

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