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

QUESTION 100
You are reconciling your Payables the Receivables balances against the General Ledger. You are using the Payables to Ledger Reconciliation report. You notice discrepancies between the balances in the sub ledgers, sub ledger accounting, and general ledger.
Which three factors are responsible for these out-of-balance situations?

Option's:
A.    All sub ledger transactions have been entered but do not have complete accounting.
B.    Sub ledger transactions have been accounted and transferred to General Ledger but have not been posted.
C.    There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.
D.    Intercompany transactions have not been fully processed.
E.    Period Close processes,such as Revaluation, Translation, and Consolidation have not beenperformed yet 

Answer: B,D,E

Answer Explanation: Sub ledger transactions have been accounted and transferred to General Ledger but have not been posted , Intercompany transactions have not been fully processed and Period Close processes,such as Revaluation, Translation, and Consolidation have not been performed yet.

QUESTION 101
While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created. Which two options explain that?

 

Option's:
A.    The Account Rule is defined with a different chart of accounts from the Journal Entry Rule Set.
B.    The Account Rule's chart of accounts have no account values assigned
C.    The Account Rule's conditions are not defined.
D.    The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set.

 

Answer: B,D

Answer Explanation: The Account Rule's chart of accounts have no account values assigned & The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set.

 

QUESTION 102
You are defining intercompany balancing rules that are applied to a specific source and category, such as payables and invoices, or a specific intercompany transaction type, such as Intercompany Sales. Which two statements are correct?

 

Option's:
A.    You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work.
B.    You can create a rule for all sources and categories by selecting the source "Other" and the category "Other."
C.    If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value.
D.    Set up a chart of accounts rule for every chart of accounts structure you have in order to ensure that Intercompany Balancing will always find a rule to use to generate balancing accounts.

 

Answer: A,C

Answer Explanation: You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work & If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value.

 

QUESTION 103
Your customer wants to secure their primary balancing segment values to prevent employees of one company from entering or viewing data of another company. You only need this for General Ledger balances and reporting.
What two security features should you use?

 

Option's:
A.    Data Access Sets using an Access Set Type of Primary Balancing Segment
B.    Cross-Validation Rules
C.    Segment Value Security
D.    Balancing Segment Value Assignment to Legal Entities 

 

Answer: A,C

Answer Explanation: Data Access Sets using an Access Set Type of Primary Balancing Segment and Segment Value Security.