Oracle Fusion General Ledger Certification:1Z0-1054-20

Oracle Fusion General Ledger Certification:1Z0-1054-20

Question 1

Finance Accounting Hub includes Hyperion data management. for which two tasks can Hyperion Data management be used ?

Option's:

A. Cross-validation rules

B. Data Access and security

C. Chart of accounts hierarchy maintenance.

D. Chart of accounts master data maintenance.

E. Integration with transactions from external feeder system.

Answer: C & D

Answer Explanation: Chart of accounts hierarchy maintenance & Chart of accounts master data maintenance are the two tasks Hyperion Data management be used.

Question 2

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 segments.

What does oracle consider as best practice to define this chart or accounts ?

Option's:

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

B. Define two different charts of accounts

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

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

Answer: C

Answer Explanation: Define the company segments only and qualify it as both the primary balancing segments and intercompany segment.

Question 3

You want to specify intercompany system options. Which three factors should you consider ?

Option's:

A. The approvers who will approve intercompany transactions.

B. Whether to allow receivers to reject intercompany transactions.

C. Automatic or manual batch numbering and the minimum transaction amount.

D. Whether to enforce an enterprise-wide currency or allow in intercompany transactions in local currencies.

Answer: B, C & D

Answer Explanation: Three factors will be Whether to allow receivers to reject intercompany transactions , Automatic or manual batch numbering and the minimum transaction amount & Whether to enforce an enterprise-wide currency or allow in intercompany transactions in local currencies.

Question 4

You want to prevent intercompany transactions from being entered during the last day of the close. What should you do ?

Option's:

A. Close all subledger periods.

B. Close the general ledger period in the Manage Accounting periods page.

C. Freeze the Intercompany Journal source in General Ledger.

D. Close Intercompany Period in Fusion Intercompany.

Answer: D

Answer Explanation: To prevent intercompany transactions from being entered during the last day of the close, We need to Close Intercompany Period in Fusion Intercompany.