Oracle 1Z0-1054-20 Online Practice Questions and Exam Preparation

Oracle 1Z0-1054-20 Online Questions & Answers

• Question 21:

  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?

  A. Event Type
  B. Journal Line Rule
  C. Journal Entry
  D. Event Class
  E. Journal Entry Rule Set
  B. Journal Line Rule

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  Reference: https://docs.oracle.com/cd/E29597_01/fusionapps.1111/e20375/F644879AN5F469.htm

• Question 22:

  You have exported data from your budgeting application into a .csv file. What should you use to load that data into General Ledger?

  A. The budget journal spreadsheet
  B. Enterprise Resource Budget Integrator
  C. File Based Data Import
  D. Application Developer Framework Desktop Integrator
  D. Application Developer Framework Desktop Integrator

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  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faigl/budgets.html#FAIGL817044

• Question 23:

  Your customer uses Financials Cloud, Projects, Inventory, and SCM.

  Which two statements are true regarding intercompany accounting for these products? (Choose two.)

  A. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product
  B. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects
  C. Each product has its own Intercompany Accounting feature that needs to be configured separately
  D. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals
  C. Each product has its own Intercompany Accounting feature that needs to be configured separately
  D. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals

• Question 24:

  When creating your financial statements, you would like to have a chart, such as a bar graph, included in the report output. Which two reporting tools allow you to achieve this? (Choose two.)

  A. Financial Reporting Studio
  B. Account Inspector
  C. Smart View
  D. Financial Statement Generator
  A. Financial Reporting Studio
  C. Smart View

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  Reference: https://docs.oracle.com/en/cloud/saas/financials/20d/faigl/financial-reporting.html#FAIGL513446

• Question 25:

  Your customer wants to create fully balanced balance sheets for the Company, Line of Business, and Product segments for both financial and management reporting. What is Oracle's recommended method for doing this?

  A. Create three segments for the Company, Line of Business, and Product segments and qualify them as primary balancing segment, second, and third balancing segments, respectively
  B. Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting
  C. Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions
  D. Create two segments where the first segment represents the concatenation of Company and Line of Business, and then enable secondary tracking for the Product segment
  C. Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions

• Question 26:

  You have set up a supporting reference with balances to capture revenue by account manager. Which option should you use to view the supporting reference balances?

  A. an Account Group
  B. an OTBI analysis
  C. a SmartView analysis
  D. General Ledger inquiries and reports
  B. an OTBI analysis

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  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/ocuar/oracle-fusion-subledger-accounting-reports.html#OCUAR1448300

• Question 27:

  Which two statements are TRUE regarding the Balances Cubes in General Ledger? (Choose two.)

  A. They are updated automatically when the General Ledger period is opened
  B. New dimensions can be added to a General Ledger Balances Cube
  C. They are updated automatically when the Revaluation process is run
  D. A new Balances Cube is created for a unique combination of Ledger and Currency
  E. They are updated automatically when the Translation process is run
  B. New dimensions can be added to a General Ledger Balances Cube
  C. They are updated automatically when the Revaluation process is run

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  Reference: https://docs.oracle.com/en/cloud/saas/financials/20c/faigl/period-close.html

• Question 28:

  A subsidiary company, in a highly regulated country, where there is a legal requirement to produce fiscal reports under local GAAP, is about to configure their General Ledger.

  Given the following:

  Subledgers transferring to general ledger must use the local currency.

  There is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS).

  Which two ledger types should be configured to address this reporting requirement? (Choose two.)

  A. a primary ledger with the local accounting convention
  B. a reporting currency with the IFRS accounting convention
  C. a primary ledger with the IFRS accounting convention
  D. a secondary ledger with the IFRS accounting convention
  E. a reporting currency with the local accounting convention
  C. a primary ledger with the IFRS accounting convention
  E. a reporting currency with the local accounting convention

• Question 29:

  What are the three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA)? (Choose three.)

  A. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance
  B. OTBI allows you to create user-defined reports from real-time transactional data against the database directly
  C. OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications
  D. Cloud customers can use both OTBI and OBIA
  E. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications
  B. OTBI allows you to create user-defined reports from real-time transactional data against the database directly
  C. OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications
  E. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications

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  Reference: https://blogs.oracle.com/prajkumar/otbi-vs-obia-v2

• Question 30:

  You want to monitor the close process of all financial subledgers and ledgers. How can you quickly obtain this information?

  A. Use the Manage Accounting Periods page to view the status of all subledgers and ledgers
  B. Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period
  C. Run Closing Status reports
  D. Use Close Monitor in General Accounting Dashboard
  B. Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period

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  Reference: https://docs.oracle.com/cd/E48434_01/doc.1118/e49598/F1006651AN1B4CF.htm