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

Oracle 1Z0-1054-20 Online Questions & Answers

• Question 41:

  You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for $300 is matched to the purchase order. What will be the funds status of the purchase order and the invoice?

  A. The purchase order is Open and the invoice is Validated
  B. Both are reserved
  C. Both are Partially Reserved
  D. The purchase order is Partially Liquidated and the invoice is Partially Reserved
  E. The purchase order is Liquidated and the invoice is Partially Reserved
  F. The purchase order is Partially Liquidated and the invoice will be Reserved
  F. The purchase order is Partially Liquidated and the invoice will be Reserved

• Question 42:

  You want to define an allocation rule where segment values are constants for rules and formulas. What should you do?

  A. Use the Point of View (POV) tab of the Allocation Wizard
  B. Only specify segment values in formulas
  C. Never use the Outer Point of View (POV)
  D. Specify Run Time Prompts (RTP)
  C. Never use the Outer Point of View (POV)

• Question 43:

  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 segment.

  What is Oracle's recommended method to define this chart of accounts?

  A. Define the company segment only and qualify it as both the primary balancing segment and intercompany segment.
  B. Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level.
  C. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance.
  D. Define two different charts of accounts
  B. Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level.

• Question 44:

  Your company has a legal entity in the UK, US, and Canada. They can all share the same chart of accounts but are required to transact and report in their local currency. What is the minimum number of ledgers you need and why?

  A. One, because they can all share the same chart of accounts
  B. Three, because each requires a different currency
  C. Two, because the US and Canada can share the same ledger because they are in North America
  D. Four, because the UK has statutory requirements and you will need a separate ledger for statutory reporting
  A. One, because they can all share the same chart of accounts

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  Reference: https://docs.oracle.com/cd/E18727_01/doc.121/e13425/T348488T348492.htm

• Question 45:

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

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

• Question 46:

  You are using Oracle General Ledger (GL), Oracle Payables and Oracle Receivables and would like to prevent the closure of the GL period if the corresponding subledger period is not closed. How will you achieve this?

  A. Opt in to the Prevent Period Close option for the offering
  B. Set the relevant option on the Specify Ledger Options page
  C. Nothing, this option is enabled automatically
  D. Set the ORA_GL_INCLD_STRICT_PRD_CLOSE profile option to yes
  A. Opt in to the Prevent Period Close option for the offering

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  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faugl/accounting-period-close.html#FAUGL691839

• Question 47:

  You have a requirement for the Intercompany Provider and Receiver distribution accounts to be created automatically for all intercompany transactions. What should you configure?

  A. a Provider and Receiver distribution set
  B. Intercompany transaction type default accounts
  C. the AutoAccounting Definition
  D. the Transaction Account Definition
  A. a Provider and Receiver distribution set

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  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faigl/intercompany-setup.html#FAIGL312054

• Question 48:

  What are the two benefits of having the Essbase cube embedded in Oracle General Ledger (GL)? (Choose two.)

  A. You can access real-time results for reporting and analysis because the multidimensional balances are updated on journal posting
  B. You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts
  C. Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules
  D. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis
  A. You can access real-time results for reporting and analysis because the multidimensional balances are updated on journal posting
  D. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis

• Question 49:

  You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results. What is Oracle's recommended practice when this occurs?

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

• Question 50:

  You need to set up a calendar for fiscal year Apr-XX to March-YY where YY is the following year, and you would like the periods to be named according to the year they fall in. What Calendar format should you choose?

  A. Calendar
  B. Fiscal
  C. Year
  D. Period
  D. Period

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  Reference: https://docs.oracle.com/cd/E53547_01/opera_5_04_03_core_help/period_setup.htm