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

QUESTION 40
You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file, along with the customer classification information. You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts.
What is the solution?

 

Option's:
A.    Use the Open Account Balances Listing report that has balances by customer.
B.    Use the Third Party Control Account feature.
C.    Use Supporting References to capture customer classification information.
D.    Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).

 

Answer: C

Answer Explanation: Use Supporting References to capture customer classification information.

QUESTION 41
Your customer wants to use a clearing company to automatically balance Intercompany entries. Which three statements are true regarding the use of a clearing company value?

 

Option's:
A.    Clearing companies are not supported.
B.    If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity.
C.    You must map legal entities to balancing segment values in order to use a clearing company.
D.    If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger.
E.    If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal.

Answer: A,C,E

Answer Explanation: Clearing companies are not supported & You must map legal entities to balancing segment values in order to use a clearing company & If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal are these three statements are true regarding the use of a clearing company value.
  

QUESTION 42
Your user forgot the password. How do you resolve this?

 
Option's:
A.    Use the Manage Users page to update the user's information and change the password.
B.    Use Oracle Identity Management (OIM) to reset the user's password.
C.    Log in to the user's machine as an Administrator and change the password from the login pa
D.    Use Access Policy Manager (APM) to reset the user's password.
E.    Create a new user ID and password for the user.

Answer: B

Answer Explanation: Use Oracle Identity Management (OIM) to reset the user's password.

QUESTION 43
You need to create a month-end re-porting package for an upcoming Audit Committee meeting. You have 10 financial reports that you will need to share with executives and auditors.
In which three ways do you accomplish this?

 

Option's:
A.    Using Workspace, assemble multiple reports into a book.
B.    Use a Report Batch to run reports at a specific time to create set of snapshot reports based on accounting information at that specific point in time.
C.    Users can drill down on snapshot reports for future analysis.
D.    The report contained in the book can be printed or viewed individually or as an entire book that includes a table of contents.
E.    Snapshot reports can only be viewed online.

Answer: A,B,D

Answer Explanation: Using Workspace, assemble multiple reports into a book , Use a Report Batch to run reports at a specific time to create set of snapshot reports based on accounting information at that specific point in time & The report contained in the book can be printed or viewed individually or as an entire book that includes a table of contents are the three ways to to share the report with executives and auditors.