1z0-1054-20 by Oracle Actual Free Exam Q&As

Question 1

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? (Choose three.)

A. 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 B. You must map legal entities to balancing segment values in order to use a clearing company C. Clearing companies are not supported 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 map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity

Discussion 0

Correct Answer: A,D,E Vote an answer

Question 2

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

A. Close the General Ledger period in the Manager Accounting Periods page B. Freeze the Intercompany journal source in General Ledger C. Close Intercompany periods in Fusion Intercompany D. Close all subledger periods

Discussion 0

Correct Answer: C Vote an answer

Question 3

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 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. 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

Discussion 0

Correct Answer: B,C,E Vote an answer

Question 4

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

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

Discussion 0

Correct Answer: C,D Vote an answer

Question 5

You create an invoice for USD 100 that is matched to a purchase order of USD 100. You validate the invoice to consume the budget and reduce funds available. And then later, you cancel the invoice. What happens to funds available when you cancel an invoice that requires budgetary control?

A. The funds reserved for the purchase order is reinstated while the invoice expenditure is reserved by USD
100 B. The budget will increase by USD 100 and the funds available will decrease by USD 100 C. Funds available will change when the invoice is approved D. The budget and funds available will increase by USD 100

Discussion 0

Correct Answer: A Vote an answer

Question 6

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. Year B. Calendar C. Period D. Fiscal

Discussion 0

Correct Answer: C Vote an answer

Question 7

You entered a journal and the client is asking for the following information:
* The current account balance
* What the future account balance will be if the journal is approved and posted How will you get this information?

A. Run a Trial Balance before and after posting B. Query the account balance online C. Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances D. View the Projected Balances region in the Create Journals page

Discussion 0

Correct Answer: D Vote an answer

Oracle Financials Cloud: General Ledger 2020 Implementation Essentials - 1z0-1054-20 Exam Practice Test