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

QUESTION 37
You transact in 50 different currencies and you need to define a high volume of revaluation definitions. Which two methods are Oracle recommended best practices for streamlining this process?

 

Option's:
A.    Define separate revaluation definitions for each class of accounts, currency, and different rate types.
B.    Use hierarchies and parent values in your revaluation definition.
C.    Share revaluation definitions across ledgers that share the same chart of accounts.
D.    Define one revaluation definition for all accounts (assuming all ledgers share the same chart of accounts) and simply change the parameters at run time.

 

Answer: B

Answer Explanation: Use hierarchies and parent values in your revaluation definition.

QUESTION 38
The budget managers specify the budget accounts they want to monitor and decide on percentage threshold of funds availability.
Where must you define the details while analyzing budget balances in the Budget Account Monitor page?

 

Option's:
A.    Budget Group
B.    Application Development framework Desktop Integral ion (ADFdi)
C.    Account Group
D.    Budget Controller
E.    Budget Account Group 

 

Answer: C

Answer Explanation: Account Group for analyzing budget balances in the Budget Account Monitor page.

 

QUESTION 39
Your customer uses Financials Cloud, Projects, Inventory and Procurement.
Which two statements are true regarding intercompany accounting tor these products?

 

Option's:
A.    Each product has its own Intercompany Accounting feature that needs to be set up separately.
B.    Intercompany Balancing Rules are defined centrally and applied across Financials, Portfolio Project Management and Supply Chain Management products.
C.    Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single ledger intercompany journals.
D.    They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub.

Answer: A,D

Answer Explanation: Each product has its own Intercompany Accounting feature that needs to be set up separately & They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub are related to intercompany accounting tor these products.

 
QUESTION 40
You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?

Option's:
A.    Chart of accounts was not deployed.
B.    Accounting Configuration was not submitted-
C.    An Audit process needs to be successfully performed before a tree version can be set to Active.
D.    Two tree versions were not defined 

 

Answer: D

Answer Explanation: Two tree versions were not defined that could be the reason to unable to set its status to active.