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

QUESTION 84
What's the difference between subject areas that append the word "Real Time" and those that do not?

 

Option's:
A.    There is no difference.
B.    The “Real Time” subject areas are based on real-time transactions and all others are based on Historical data.
C.    The “Real Time” subject areas are based on real-time transactions in Fusion Applications, and all others are based on data stored in the Oracle Business Intelligence Applications data warehouse.
D.    The “Real time” subject areas are based on sub ledger transactions and all others are based on general ledger balances.

Answer: B

Answer Explanation: The “Real Time” subject areas are based on real-time transactions and all others are based on Historical data.

QUESTION 85
Your foreign currency transactions need to be revalued every month. For balance sheet accounts, you reverse the revaluation journals in the next period. You are using the period-to-date (PTD) method of revaluation tor your income statement accounts.
When should you reverse revaluation journals, if at all required?
 
Option's:
A.    Reverse them in the same period as the revaluation run.
B.    Both balance sheet and income statement revaluation journals should be reversed in the period.
C.    Never, because each period's revaluation adjustment is just for that period.
D.    The reversals must be done at the end of each quarter.

Answer: B

Answer Explanation: Both balance sheet and income statement revaluation journals should be reversed in the period.

QUESTION 86
Alter submitting the journal for approval, you realize that the department value in the journal incorrect. How do you correct the value?

 

Option's:
A.    Delete the journal and create a new journal.
B.    Update the journal through workflow
C.    Click the Withdraw Approval button in the Edit Journals page and edit the journal.
D.    Reverse the journal and create a new one.

 

Answer: B

Answer Explanation: Update the journal through workflow.

 

QUESTION 87
What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?

 

Option's:
A.    Transaction Objects
B.    Event Entities
C.    Mapping Sets
D.    Accounting attributes
E.    Event Classes

Answer: A 

Answer Explanation:  Transaction Objects are the views from which the Create Accounting program takes source data that is used in rules to create journal entries.