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

QUESTION 76
You create a prepayment for USD l00 and validate it to consume the budget and reduce available funds under the prepayment account. You then pay the prepayment of USD 100 create an invoice for USD 300, and validate the* invoice to consume the budget and reduce available funds for the expense-accounts used in the invoice. You then apply the prepayment fully on to the invoice and re validate it.
What happens to the available funds when you apply a prepayment that requires budgetary control?

 

Option's:
A.    The prepayment application was already released at the time of payment and the invoice consumes funds USD.
B.    The prepayment application releases funds USD ^nd the invoice consumes funds of lOO USD, with a net decrease to available funds USD.
C.    Available funds will not change till invoice is approved.
D.    The prepayment application releases funds of lOO USD and the invoice consumes funds USD, with a net decrease to available funds USD.
E.    The prepayment application releases funds USD and the invoice consumes
funds USD, with a net decrease to available funds USD. 

F. The budget will be released only for the USD 30O invoice amount.

Answer: F

Answer Explanation: The budget will be released only for the USD 30O invoice amount.

 

QUESTION 77
What is the most efficient way to add a new year to the accounting calendar?

 

Option's:
A.    Add the periods manually
B.    Use the Add Year button
C.    Import the periods from a spreadsheet
D.    The application automatically populates the next year when you open the first period a new fiscal year.

 

Answer: D 

Answer Explanation: The application automatically populates the next year when you open the first period a new fiscal year.

QUESTION 78
Your customer wants to have balance sheets and income statements for their cost center and program segments. That is, they want to have three balancing segments.
Which two recommendations would you give your customer?

 

Option's:
A.    When entering journals manually, the customer will need to make sure that the debits and credits are equal across all balancing segments because the system will not automatically balance the journal.
B.    Every journal where debits do not equal credits across the three balancing segments will result in the System generating extra journal lines to balance the entry.
C.    Additional intercompany rules will need to be defined for the two additional balancing segments.
D.    Ledger balancing rules will need to be defined to instruct the system on how to generate balancing entries for the second and third balancing segments.

Answer: A,D

 

 

QUESTION 79
Your customer is having issues transferring intercompany transactions to General Ledger.. Identify three reasons for this.

 

Option's:
A.    The intercompany transaction is not approved.
B.    The corresponding Payables and Receivables invoice have not been generated.
C.    If they are different, then the exchange rate is missing between the intercompany and ledger currency.
D.    The intercompany period is closed.
E.    Both the intercompany and general ledger periods are open.

Answer: A,B,C
Answer Explanation: The intercompany transaction is not approved , The corresponding Payables and Receivables invoice have not been generated & If they are different, then the exchange rate is missing between the intercompany and ledger currency.