oracle 1z0-1054-21 practice test

Oracle Financials Cloud: General Ledger 2021 Implementation Essentials


Question 1

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
Answer:

A

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Question 2

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

  • A. Cloud customers can use both OTBI and OBIA
  • B. OTBI allows you to create custom 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. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance.
  • E. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications
Answer:

B C E

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Question 3

Your Financial Analyst needs to interactively analyze General Ledger balances with the ability to drill down to originating
transactions. Which three features facilitate this? (Choose three.)

  • A. Sunburst reports
  • B. Online Transactional Business Intelligence
  • C. Account Inspector
  • D. Account Monitor
  • E. Smart View
Answer:

C D E

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Question 4

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
Answer:

C D

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Question 5

You need to define multiple allocation rules as efficiency as possible.
Which three components can be reused across allocation rules? (Choose three.)

  • A. Point of View (POV)
  • B. Formulas
  • C. Run Time Prompts (RTP)
  • D. RuleSets
Answer:

B C D

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Question 6

What are the two purposes of a secondary ledger? (Choose two.)

  • A. It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options
  • B. It should not be used when trying to meet local accounting requirements
  • C. It is used to main balances in a different currency only
  • D. It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting
  • E. It should only be used to main balances for processing performance
Answer:

A D

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Question 7

Identify three roles that get access to the reports in the Fusion Accounting Hub Reporting Cloud Service (FAHRCS).
(Choose three.)

  • A. Controller
  • B. General Accountant
  • C. General Accountant Manager
  • D. Business Intelligence Administrator (BI Admin)
  • E. Financial Analyst
Answer:

C D E

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Question 8

Account combinations can be created and/or modified using the Import Account Combinations file-based data import (FBDI).
Which represents the appropriate upload steps?

  • A. Submit the Import Account Combinations process, then insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template.
  • B. Insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.
  • C. Insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.
  • D. Submit the Import Account Combinations process, then insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template.
Answer:

B

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Question 9

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

  • A. Journal Source
  • B. Journal Category
  • C. Journal Batch
  • D. Journal Description
Answer:

A

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Question 10

Management wants to use the budget transfer function available on the Review Budgetary Control Balances page. Which
privilege is required to perform the budget transfer?

  • A. Import Budget Amounts from Spreadsheet (XCC_IMPORT_BUDGET_FROM_SPREADSHEETS_PRIV)
  • B. Import Budget Amounts (XCC_IMPORT_BUDGET_PRIV)
  • C. Manage Control Budgets (XCC_MANAGE_CONTROL_BUDGETS_PRIV)
  • D. Budget Loading (XCC_BUDGET_LOADING_DUTY_PRIV)
Answer:

B

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