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.

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

QUESTION 92
The Accounting Manager requests that a schedule be created to automatically post journals from sub ledgers at different times.
Which journal attribute should you use to set the automatic posting criteria?

 

Option's:
A.    Journal Category
B.    Journal Source
C.    Journal Batch
D.    Journal Description 

 

Answer: C

Answer Explanation: Journal Batch is the journal attribute should you use to set the automatic posting criteria.

QUESTION 93
When working with Essbase, versions of the tree hierarchy as defined in the Fusion not available in the Essbase balances cube.
What should you do to correct this situation?

 

Option's:
A.    Make sure the tree version was published successfully.
B.    Make sure to flatten the rows of the tree version.
C.    Make sure the tree is active.
D.    Redeploy the chart of accounts.

Answer: D

Answer Explanation: Redeploy the chart of accounts and then account tree hierarchy available in the Essbase balances cube

 

QUESTION 94
Which three reporting tools are based on real-time data or balances?

Option's:
A.    Oracle Business Intelligence Applications (OBIA
B.    Smart View
C.    Business Intelligence Publisher (BI Publisher)
D.    Oracle transactional Business Intelligence (OTBI)
E.    Oracle Financial Reporting (FR) 

 

Answer: B,D,E

Answer Explanation: Smart View, Oracle transactional Business Intelligence (OTBI) & Oracle Financial Reporting (FR) .

QUESTION 95
Most of the accounting entries for transactions from your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.
At what level can you override the default accounting attribute assignment?

 

Option's:
A.    Event Type
B.    Journal Line Rule
C.    Event Class
D.    Journal Entry Rule Set
E.    Journal Entry 

 

Answer: D

Answer Explanation: Journal Entry Rule Set.

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

QUESTION 88
You entered users who are both employees and contingent workers. You want an automated way to assign, reassign, and remove roles from users. What feature do you use?

 

Option's:
A.    Oracle Identity Manager Roles Assignment
B.    Access Policy Manager's Role Generation
C.    Role Mappings
D.    Data Roles
E.    You cannot reassign contingent workers.

Answer: C

Answer Explanation: Role Mappings for automated way to assign, reassign, and remove roles from users

 

QUESTION 89
What type of user must be defined before you can create an Implementation Project?

Option's:
A.    None. The Fusion Applications Superuser, FAADMIN, has full access to create an Implementation Project.
B.    A full-time employee that has the FSM Superuser role assigned
C.    None. The OIM system administrator user ID, XELSYSADM, which is assigned by the person provisioning the system, has full access.
D.    Implementation Users
E.    All roles that will be used throughout the implementation 

 

Answer: E

Answer Explanation: All roles that will be used throughout the implementation .

QUESTION 90
You operate in a country whose unstable currency makes it unsuitable for managing your day-to-day business. As a consequence, you need to manage your business in a more stable currency while retaining the ability to report in the unstable local currency.
What would be your recommendation when defining ledgers?

 

Option's:
A.    Define Balance-Level Reporting Currencies in the more stable currency and run Translation as often as you need.
B.    Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency.
C.    Run Revaluation as often as you need to the more stable currency and report on the more stable currency’s balances.
D.    Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency.

Answer: B 

Answer Explanation: Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency.

QUESTION 91
How do you hide accounts with no balances showing #Missing in Smart view?

Option's:
A.    Select the Data/Missing check box in the Data Options tab.
B.    Use Excel functions to hide rows with #Missing assigned
C.    Choose the Suppress Zeros option under Data options.
D.    This indicates a database connection issue. Try to reconnect to Fusion Applications.

Answer: A 

Answer Explanation: Select the Data/Missing check box in the Data Options tab to hide accounts with no balances showing #missing in smart view.

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.

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

QUESTION 60
What Is Oracle Essbase?

 

Option's:
A.    A robust reporting and analysis tool
B.    A relational database
C.    A data ware house
D.    A multidimensional Online Analytical Processing (OLAP) server that is embedded in Fusion General Ledger.

Answer: B

Answer Explanation: A relational database Is Oracle Essbase.

 

QUESTION 61
Fusion Accounting Hub includes Hyperion Data Management. For which two tasks can Hyperion Data Management be used?

 

Option's:
A.    chart of accounts hierarchy maintenance
B.    integration with transactions from external feeder systems
C.    chart of accounts master data maintenance
D.    data access and security
E.    cross-validation rules 

 

Answer: A,C

Answer Explanation: Chart of accounts hierarchy maintenance & Chart of accounts master data maintenance.

QUESTION 62
You customer is a financial Institution that needs to maintain overage daily balances (ADB).
 
Which two statements are true regarding this functionality in Fusion Applications?
 

Option's:

A.    ADB provides organizations with the ability to track average and end-of-day balances, report average balance sheets, and create custom reports using both actual and average balances.
B.    Average balances are stored for both sub ledger balances and general ledger balances.
C.    Average balances are stored in the Essbase cube.
D.    Average balances are maintained for both actual and budget balances.
E.    When using ADB, you must define a daily calendar and assign it to your ADB ledger.

Answer: A,D

Answer Explanation: ADB provides organizations with the ability to track average and end-of-day balances, report average balance sheets, and create custom reports using both actual and average balances & Average balances are maintained for both actual and budget balances.

QUESTION 63
You want to process multiple allocations at the same time. What feature do you use?

 

Option's:
A.    Rule Sets
B.    Point of View (POV)
C.    Formulas
D.    General Ledger Journal entries 

Answer: C

Answer: Formulas helps to process multiple allocations at the same time .

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

QUESTION 56
While troubleshooting the encumbrance entries created for the requisition for your business unit, you noticed that only a few events are triggering the encumbrance journals when you submit he create accounting program.
What are the two events?

 

Option's:
A.    Funds check
B.    Requisition approved
C.    Requisition rejected by the buyer
D.    Submit the requisition for approval
E.    Checkout and Save the requisition.
F.    Create change request on the requisition after submitting requisition for approval.

 

Answer: B,F

Answer Explanation: Requisition approved & Create change request on the requisition after submitting requisition for approval are the two events triggering the encumbrance journals when you submit he create accounting program.

QUESTION 57
You want to display OTBI reports and graphs in PowerPoint to show general ledger or subledger data. How do you accomplish this?

 

Option's:
A.    Download OTBI reports and charts to a spreadsheet and then copy and paste the spreadsheet to PowerPoint
B.    Use Smart View to create reports and charts using general ledger and sub ledger subject areas embed the charts/reports into PowerPoint
C.    Use Smart View and Oracle BIEE View Designer to create reports in PowerPoint, Word, and Excel.
D.    Use Account Inspector and then export to Excel and copy and paste into PowerPoint.

Answer: C 

Answer Explanation:Use Smart View and Oracle BIEE View Designer to create reports in PowerPoint, Word, and Excel.

 
QUESTION 58
Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries. What is Oracle's recommended best practice when implementing; a new chart of accounts? How many segments and what segment qualifiers should be used?

 

Option's:
A.    Define three segments for the company, department, and natural account. The qualifiers shouldbe primary balancing segment, cost center segment, and natural account segment, respectively
B.    Define four segments for the company, department, natur.il account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, and intercompany segment, respectively.
C.    Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.
D.    Define three segments tor the company, department, and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.

Answer: C

Answer Explanation: Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.

QUESTION 59
All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships.
What is Oracle's recommend approach to performing consolidations?

 

 Option's:
A.    Use Oracle Hyperion Financial Management for this type of complex consolidation.
B.    Translate balances to the corporate currency, create a chart of accounts mapping to the corporate Chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program.
C.    Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.
D.    Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency and accounting method. Create a separate elimination ledger to enter intercompany eliminations, then create a ledger set across all ledgers and report on the ledger set.

 

 Answer: D

Answer Explanation: Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency and accounting method. Create a separate elimination ledger to enter intercompany eliminations, then create a ledger set across all ledgers and report on the ledger set.

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

QUESTION 40
You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file, along with the customer classification information. You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts.
What is the solution?

 

Option's:
A.    Use the Open Account Balances Listing report that has balances by customer.
B.    Use the Third Party Control Account feature.
C.    Use Supporting References to capture customer classification information.
D.    Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).

 

Answer: C

Answer Explanation: Use Supporting References to capture customer classification information.

QUESTION 41
Your customer wants to use a clearing company to automatically balance Intercompany entries. Which three statements are true regarding the use of a clearing company value?

 

Option's:
A.    Clearing companies are not supported.
B.    If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity.
C.    You must map legal entities to balancing segment values in order to use a clearing company.
D.    If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger.
E.    If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal.

Answer: A,C,E

Answer Explanation: Clearing companies are not supported & You must map legal entities to balancing segment values in order to use a clearing company & If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal are these three statements are true regarding the use of a clearing company value.
  

QUESTION 42
Your user forgot the password. How do you resolve this?

 
Option's:
A.    Use the Manage Users page to update the user's information and change the password.
B.    Use Oracle Identity Management (OIM) to reset the user's password.
C.    Log in to the user's machine as an Administrator and change the password from the login pa
D.    Use Access Policy Manager (APM) to reset the user's password.
E.    Create a new user ID and password for the user.

Answer: B

Answer Explanation: Use Oracle Identity Management (OIM) to reset the user's password.

QUESTION 43
You need to create a month-end re-porting package for an upcoming Audit Committee meeting. You have 10 financial reports that you will need to share with executives and auditors.
In which three ways do you accomplish this?

 

Option's:
A.    Using Workspace, assemble multiple reports into a book.
B.    Use a Report Batch to run reports at a specific time to create set of snapshot reports based on accounting information at that specific point in time.
C.    Users can drill down on snapshot reports for future analysis.
D.    The report contained in the book can be printed or viewed individually or as an entire book that includes a table of contents.
E.    Snapshot reports can only be viewed online.

Answer: A,B,D

Answer Explanation: Using Workspace, assemble multiple reports into a book , Use a Report Batch to run reports at a specific time to create set of snapshot reports based on accounting information at that specific point in time & The report contained in the book can be printed or viewed individually or as an entire book that includes a table of contents are the three ways to to share the report with executives and auditors.

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.

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

QUESTION 33
Your customer wants to control spending against an annual budget but report balances on a monthly year-to-date basis. Encumbrance accounting is also in use.
What setup is required to achieve this requirement?

 

Option's:
A.   Create an annual budget with absolute control and so encumbrance accounting will work.
B.   Create a summary budget annually with advisory control and control budget monthly with absolute control.
C.   Create a Summary budget annually with absolute* control and monthly control budget with advisory or track control.
D.   Create two detail control budgets: annually with absolute control and monthly with advisory or track control.
E.   Create two detail control budgets: annually with advisory/track control and monthly with absolute control.

Answer: A

Answer Explanation: Create an annual budget with absolute control and so encumbrance accounting will work.

 

 

QUESTION 34
What process must be followed to propagate a chart of accounts hierarchy to the Essbase cube?

 

Option's:

A. Define the hierarchy, then deploy the chart of accounts. The chart of accounts hierarchies will be generated automatically.
B.Define the hierarchy, make sure the tree version is active, and then run the publish account Hierarchies program or the Publish Chart of Accounts Dimension Members and Hierarchies
C. Define the hierarchy and make sure the tree is active. The hierarchy will be system generated for
D. Define the hierarchy, make sure the tree is active, and the Publish check box is selected for the hierarchy.

 

QUESTION 35
Which two statements are true regarding the export/import of reports?

 

Option's:
A.    A set of reports are provided for both exported and imported setup data to validate the export/import processes and setup data.
B.    Reports on setup data can be used to compare and analyze how the data might have changed over time.
C.    To view errors encountered during the export or import Process, you must use SQL queries to obtain that data because no reports exist.
D.    A set of reports lists user names, suppliers, and customers that have been exported/imported
E.    The export/import reports are available only for Fusion Customer Relationship Management.

Answer: C,E

Answer Explanation: To view errors encountered during the export or import Process, you must use SQL queries to obtain that data because no reports exist & The export/import reports are available only for Fusion Customer Relationship Management.

 
 

QUESTION 36
You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What do you need to enable?

 

Option's:
A.    Drill Through in Grid Properties
B.    Report Functions
C.    Nothing. All report balances are drillable in all FR Studio reports.
D.    Allow Expansion 

 

Answer: D

Answer Explanation: Allow Expansion to allow viewers of the report to be able to drill down from report balances to the underlying transactions.

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

QUESTION 29
What are the two benefits of having the Essbase cube embedded in Fusion General Ledger?

 

Option's:
A.    General ledger balances are multidimensional, allowing you to perform robust reporting and analysis.
B.    You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously.
C.    You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts.
D.    Posting performance is much faster.
E.    Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules.

 

Answer: B,D

Answer Explanation:- You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously & Posting performance is much faster.

 

QUESTION 30
Which two statements are true regarding how Intercompany Balancing Rule, are defied?

 

Option's:
A.    All ledgers engaged in an intercompany transaction must share the same chart: of accounts in order to define balancing rules
B.    You can only define balancing rules for different journals' sources. You cannot define balancing rules for different journal categories.
C.    You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types
D.    You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment value.

 

Answer: A,D

Answer Explanation: All ledgers engaged in an intercompany transaction must share the same chart: of accounts in order to define balancing rules & You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment value are the two true Intercompany Balancing Rule.

 

 

QUESTION 31
Journal approval uses Approvals Management Extension (AMX).
Which AMX builder method is most effective in routing the journals to the Accounting Manager when the General Ledger Accountant enters the journal?

 

Option's:
A.    Supervisory level based on HR Supervisors
B.    Job level
C.    Position
D.    Approval Group
 

Answer: D

Answer Explanation: Approval Group

 

QUESTION 32
Your customer has enabled budgetary and encumbrance controls at the requisition level. You have a purchase order for $1,000 USD, which is fully reserved and has one invoice for $600 USD. When the purchase order is matched through the final match process, the purchase order is closed for further invoicing.

What happens to the remaining $400 USD?

 

Option's:
A.    Invoice type will have less funds available by $400 USD.
B.    Manual encumbrance journal needs to be entered In General Ledger to release the budget amount of $400 USD.
C.    Only obligation type will have $400 USD funds available.
D.    $400 USD will be added back to available funds
E.    $400USD will be expired and not available for use.

Answer: A

Answer: Invoice type will have less funds available by $400 USD

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

QUESTION 9
You want to be notified of anomalies in certain account balances in real time. What is the most efficient way to do this?

 

Option's:
A.    Perform an account analysis online.
B.    Open a Smart View file saved on your desktop.
C.    Create an Account Group using Account Monitor.
D.    Use Account Inspector.

Answer: A

Answer Explanation: Perform an account analysis online to be notified of anomalies in certain account balances in real time.

QUESTION 10
Your customer operates three shared services that perform accounting functions across 50 countries. What feature allows them to share setup data, such as Payment Terms, across Business Units?
 

Option's:
A.    Reference Data Sets
B.    Business Units functions
C.    None. Setup data is partitioned by Business Unit and must be defined separately per Business Unit.
D.    Data Access Sets 

Answer: B

Answer Explanation: Business Units functions allows them to share setup data, such as Payment Terms, across Business Units.

QUESTION 11
You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results.
What does Oracle consider best practice when this occurs?

Option's
A.    Translate only the adjusting journal entry.
B.    Rerun Revaluation and then rerun Translation
C.    Rerun Translation and then re consolidate your result
D.    Enter another adjusting journal entry in the currency to true up the balances.

Answer: A

Answer Explanation:Translate only the adjusting journal entry for these kind of situations.

QUESTION 12
Which report show you differences between your sub-ledger balances and General Ledger balances?

Option's:
A.    Payables Trial Balance, Receivables Trial Balance, and General Ledger Trial Balance reports
B.    Payables and Receivables Aging Reports with the General Ledger Trial Balance report
C.    Payables to Ledger Reconciliation Report and the Receivables to Ledger Reconciliation Report.
D.    General Ledger Financial Statements and the Accounts Payable and Accounts Receivables Invoice Registers 

 Answer: C

Answer Explanation: Payables to Ledger Reconciliation Report and the Receivables to Ledger Reconciliation Report show you differences between your sub-ledger balances and General Ledger balances.

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

Question 5:

How can your Accounting Manager expedite Journal processing during the time critical month end close?

 

Option's:
A.By using the Close Status monitor to drill down on the close status across ledgers
B.By using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Others
C.By running the Journals report using Business Intelligence Publisher
D.By creating an adhoc query on journals using Oracle Transactional Business Intelligence (OTBI)

Answer: C

Answer Explanation: By running the Journals report using Business Intelligence Publisher.

 

Question 6
Your customer requires physical invoices to be generated in Fusion Payables and Fusion Receivables for the inter-company payable and receivables transactions.
What statement is correct with regard to setting this up?


Option's:
A.You must assign the corresponding Receivables and Payables Business Units.
B.You only need to assign the Legal Entity and Organization Contact.
C.You must perform additional setup steps for Fusion Payables and Fusion Receivables.
D.You can only associate one Inter-company Organization per Legal Entity.


Answer: A

Answer Explanation: You must assign the corresponding Receivables and Payables Business Units for physical invoices to be generated in Fusion Payables and Fusion Receivables for the inter-company payable and receivables transactions.


Question 7
Your customer has a large number of legal entities. The legal entity values are defined in the company segment and the primary balancing segment. They want to easily create eliminating entries for the intercompany activity.
What should you recommend?


Option's:
A.Define an intercompany segment in the chart of accounts. The Intercompany module and the intercompany balancing feature in general ledger and sub ledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading.
B.There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.
C.Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment.
D.There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the Intercompany rules you define.


Answer: B

Answer Explanation: There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.



QUESTION 8
Which two delivered roles can access the full functionality of Functional Setup Manager?


Option's:
A.    Application Implementation Manager
B.    Functional Setup Manager Superuser
C.    Application Implementation Consultant
D.    Any functional user
E.    IT Security Manager


Answer: A,C

Answer Explanation: Application Implementation Manager & Application Implementation Consultant are the two delivered roles can access the full functionality of functional setup manager.

 

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

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

Question 1

Finance Accounting Hub includes Hyperion data management. for which two tasks can Hyperion Data management be used ?

Option's:

A. Cross-validation rules

B. Data Access and security

C. Chart of accounts hierarchy maintenance.

D. Chart of accounts master data maintenance.

E. Integration with transactions from external feeder system.

Answer: C & D

Answer Explanation: Chart of accounts hierarchy maintenance & Chart of accounts master data maintenance are the two tasks Hyperion Data management be used.

Question 2

You need to define a chart of accounts that includes an intercompany segment.  Your customer plans to use segment value security rules for the company segments.

What does oracle consider as best practice to define this chart or accounts ?

Option's:

A. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance.

B. Define two different charts of accounts

C. Define the company segments only and qualify it as both the primary balancing segments and intercompany segment.

D. Use two different value sets for the company and inter company segment because segment value security rules are at the value set level.

Answer: C

Answer Explanation: Define the company segments only and qualify it as both the primary balancing segments and intercompany segment.

Question 3

You want to specify intercompany system options. Which three factors should you consider ?

Option's:

A. The approvers who will approve intercompany transactions.

B. Whether to allow receivers to reject intercompany transactions.

C. Automatic or manual batch numbering and the minimum transaction amount.

D. Whether to enforce an enterprise-wide currency or allow in intercompany transactions in local currencies.

Answer: B, C & D

Answer Explanation: Three factors will be Whether to allow receivers to reject intercompany transactions , Automatic or manual batch numbering and the minimum transaction amount & Whether to enforce an enterprise-wide currency or allow in intercompany transactions in local currencies.

Question 4

You want to prevent intercompany transactions from being entered during the last day of the close. What should you do ?

Option's:

A. Close all subledger periods.

B. Close the general ledger period in the Manage Accounting periods page.

C. Freeze the Intercompany Journal source in General Ledger.

D. Close Intercompany Period in Fusion Intercompany.

Answer: D

Answer Explanation: To prevent intercompany transactions from being entered during the last day of the close, We need to Close Intercompany Period in Fusion Intercompany.