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

QUESTION 9
You want to be notified of anomalies in certain account balances in real time. What is the most efficient way to do this?

 

Option's:
A.    Perform an account analysis online.
B.    Open a Smart View file saved on your desktop.
C.    Create an Account Group using Account Monitor.
D.    Use Account Inspector.

Answer: A

Answer Explanation: Perform an account analysis online to be notified of anomalies in certain account balances in real time.

QUESTION 10
Your customer operates three shared services that perform accounting functions across 50 countries. What feature allows them to share setup data, such as Payment Terms, across Business Units?
 

Option's:
A.    Reference Data Sets
B.    Business Units functions
C.    None. Setup data is partitioned by Business Unit and must be defined separately per Business Unit.
D.    Data Access Sets 

Answer: B

Answer Explanation: Business Units functions allows them to share setup data, such as Payment Terms, across Business Units.

QUESTION 11
You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results.
What does Oracle consider best practice when this occurs?

Option's
A.    Translate only the adjusting journal entry.
B.    Rerun Revaluation and then rerun Translation
C.    Rerun Translation and then re consolidate your result
D.    Enter another adjusting journal entry in the currency to true up the balances.

Answer: A

Answer Explanation:Translate only the adjusting journal entry for these kind of situations.

QUESTION 12
Which report show you differences between your sub-ledger balances and General Ledger balances?

Option's:
A.    Payables Trial Balance, Receivables Trial Balance, and General Ledger Trial Balance reports
B.    Payables and Receivables Aging Reports with the General Ledger Trial Balance report
C.    Payables to Ledger Reconciliation Report and the Receivables to Ledger Reconciliation Report.
D.    General Ledger Financial Statements and the Accounts Payable and Accounts Receivables Invoice Registers 

 Answer: C

Answer Explanation: Payables to Ledger Reconciliation Report and the Receivables to Ledger Reconciliation Report show you differences between your sub-ledger balances and General Ledger balances.