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

QUESTION 64
Which statement is true when creating an Implementation Project for Financials Cloud?

Option's:
A.    The Implementation Project is preconfigured and cannot be deleted or changed.
B.    Plan your implementation project carefully because you cannot delete it or make changes later.
C.    You must select the Offering "Financials," and each individual product or option to perform the setup for each product in Financials Cloud.
D.    Selecting the Offering "Financials," automatically allows you to perform the setup for all Financials Cloud products.
E.    You only need to make the project name unique, then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management and Supply Chain Management.

Answer: C

Answer Explanation: You must select the Offering "Financials," and each individual product or option to perform the setup for each product in Financials Cloud.

 

QUESTION 65
You are implementing Segment Value Security rules. Which two statements are true?

 

Option's:
A.    You can use hierarchies to define rules.
B.    The Segment Value Security rules do not take effect until you assign the rules to users and products.
C.    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.
D.    When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts.
Answer: A,C 

Answer Explanation: You can use hierarchies to define rules & 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.

QUESTION 66
You've set up the standard accrual with encumbrance accounting for your ledger and you realized that the encumbrance journals are defaulting with current date as the accounting date.
What is causing this?

 

Option's:
A.    The sub ledger accounting option Is set to system date.
B.    The actual accounting date was set up under the encumbrance accounting Default Date Rule.
C.    The system date was set up under the encumbrance accounting Default Date Rule.
D.    The current transaction accounting date was set up under the encumbrance accounting Default Date Rule.
E.    The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule.

Answer: D

Answer Explanation: The current transaction accounting date was set up under the encumbrance accounting Default Date Rule.

QUESTION 67
Your new accountants have been making mistakes in reconciling accounts assigned to them. Your 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?

Option's:
A.    Smart View
B.    Financial Reports with Embedded charts
C.    Account Monitor
D.    Account Inspector and its charts 

Answer: A