1Z0-1054-26 by Oracle Actual Free Exam Q&As

Question 1

You need to have invoices generated for certain intercompany transactions.
Where do you enable invoicing?

A. Manage Intercompany System Options B. Manage Intercompany Receivables Assignment C. Manage Intercompany Transaction Types D. Manage Intercompany Organizations

Discussion 0

Correct Answer: C Vote an answer

Question 2

When creating your financial statements, you want a chart such as a bar graph to be included in the report output. Which two reporting tools allow you to achieve this?

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

Discussion 0

Correct Answer: A,D Vote an answer

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Question 3

Financial Reporting Web Studio is a powerful tool within the Oracle Fusion Cloud suite, designed to empower financial professionals with advanced reporting capabilities.
Which two are key capabilities of Financial Reporting Web Studio?

A. It provides Batch Bursting options including e-mail and print. B. It can be used to create financial statements. C. It uses a drag and drop interface for report design. D. It helps group reports or books into batches for processing or scheduling.

Discussion 0

Correct Answer: B,C Vote an answer

Question 4

The intercompany accountants on the cloud project are trying to reconcile intercompany balances using the latest intercompany reconciliation report.
However, they have some concerns about the information presented in the report and want you to clarify the content in the standard reconciliation report.
What is included in the intercompany reconciliation report?

A. It displays all clearing company balances for the period. B. It displays the intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction. C. It displays ledger balancing lines generated when the primary balancing segment (BSV) is in balance but not the second or third BSVs.

Discussion 0

Correct Answer: B Vote an answer

Question 5

Your Oracle Fusion Cloud client needs to store balances such as floor space, number of employees, quantities purchased for use in journal allocations, and financial reporting.
Currently, in their test environment, they are unable to record statistical amounts.
What is the reason?

A. The currency STAT does not have the statistical unit type enabled. B. The currency STAT does not have the ISO currency flag enabled. C. The ledger currency does not have the derivation flag enabled.

Discussion 0

Correct Answer: A Vote an answer

Question 6

Your userforgot the password. How do you resolve this?

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

Discussion 0

Correct Answer: C Vote an answer

Question 7

Task 3
Manage Chart of Accounts Mappings
Scenario
Your client needs to consolidate their UK Ledger to the Canadian parent ledger. Each Chart of Accounts has the following segments:
Company-LoB-Account-Cost Center-Product-Intercompany
Know that the Company, LoB, Product, and Intercompany segments share the same value sets.
Create a Chart of Accounts mappings to map UK Chart of Accounts to CA Chart of Accounts that meets the following specifications:
Cost Center Mapping
. Balance Sheet (0 and 000) should be mapped to
Balance Sheet
. All other cost centers should be mapped to 610
Account Mapping
. Asset accounts (in the 1000 range) should be
mapped to account 11101
. Liability accounts (in the 2000 range) should be
mapped to account 22100
. Equity accounts (in the 3000 range) should be
mapped to account 34000
. Revenue accounts (in the 4000 range) should be
mapped to account 42000
. Expense accounts (from 5000 onwards) should be
mapped to account 51100
Note:
Do not use conditions based on parents.
. Treat any account after the 5000 range as an expense.
Ensure all maps are numeric only.
When creating your mapping rules for each segment
please allow for existing and future segment values

Discussion 0

Correct Answer:

See the Explanation for the complete Solution.
Explanation:
Here are the steps you need to follow:
In the Setup and Maintenance work area, go to the following:
Offering: Financials
Functional Area: Financial Reporting Structures
Task: Manage Chart of Accounts Mapping
Select the source chart of accounts (UK) and the target chart of accounts (CA) that you want to map.
Click on the Segment Rules tab to define the segment mapping rules. Enter the following information for each segment:
Segment Number: 1
Segment Name: Company
Mapping Type: Value
Source Value: *
Target Value: *
Segment Number: 2
Segment Name: LoB
Mapping Type: Value
Source Value: *
Target Value: *
Segment Number: 3
Segment Name: Account
Mapping Type: Range
Source From Value: 1000
Source To Value: 1999
Target Value: 11101
Mapping Type: Range
Source From Value: 2000
Source To Value: 2999
Target Value: 22100
Mapping Type: Range
Source From Value: 3000
Source To Value: 3999
Target Value: 34000
Mapping Type: Range
Source From Value: 4000
Source To Value: 4999
Target Value: 42000
Mapping Type: Range
Source From Value: 5000
Source To Value: 99999999
Target Value: 51100
Segment Number: 4
Segment Name: Cost Center
Mapping Type: Value
Source Value: 0
Target Value: Balance Sheet
Mapping Type: Value
Source Value: 000
Target Value: Balance Sheet
Mapping Type: Value
Source Value: *
Target Value: 610
Segment Number: 5
Segment Name: Product
Mapping Type: Value
Source Value: *
Target Value: *
Segment Number: 6
Segment Name: Intercompany
Mapping Type: Value
Source Value: *
Target Value: *
Click on the Save and Close button to save the segment mapping rules.
You have successfully created a Chart of Accounts mapping for the given scenario. For more information, you can refer to the following resources:
Overview of the Chart of Accounts Mapping Page
Chart of Accounts Structures and Instances
How To Create A Chart Of Accounts Mapping For A Secondary Ledger
How To Bulk Upload The Mapping Rules In "Manage Chart of Accounts Mapping" Centralized Management of Chart of Accounts Configurations

Question 8

What is the role of the OTBI Reporting tool in Oracle Cloud Financial Reporting?

A. It allows users to perform spreadsheet-based multidimensional analysis from Microsoft Excel. B. It allows users to design boardroom-ready financial statements, ensuring compliance with regulatory accounting standards. C. It allows users to generate ad hoc reports, analyze financial data, and create user-defined analytics directly from the transaction tables. D. It allows users to create, manage, and deliver high-fidelity, pixel-perfect reports and documents that can be scheduled to run at specific intervals.

Discussion 0

Correct Answer: C Vote an answer

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Question 9

You are reviewing the Intercompany Reconciliation report for the current period and notice that there is a difference for the period as indicated.

What could be reason for this difference?

A. The transaction needs to be transferred to Payables and accounted in the US ledger. B. The transaction needs to be transferred to Payables and accounted in the UK ledger. C. The transaction needs to be transferred to Receivables and accounted in the UK ledger. D. The transaction needs to be transferred to Receivables and accounted in the US ledger.

Discussion 0

Correct Answer: B Vote an answer

Question 10

An Oracle Fusion Cloud customer operating in the financial services sector requires only a subset of the legal entities data captured in the primary ledgers to be transferred to the secondary ledgers.
Which journal data conversion level should be selected between the primary and secondary ledgers to achieve this?

A. Adjustment only B. Balance C. Journal

Discussion 0

Correct Answer: A Vote an answer

Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional - 1Z0-1054-26 Exam Practice Test