1Z1-1054 by Oracle Actual Free Exam Q&As

Question 1

You need to create a month-end reporting package for an upcoming Audit Committee meeting, you have 10 financial reports that you want to share with executives and auditors that are nicely formatted.
Identify the two Oracle recommended ways to accomplish this. (Choose two.)

A. Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee B. Use OTBI to create multiple reports that you save to a folder that only the users can access C. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet D. Use a report batch to run reports at a specific time to create a set of snapshot reports E. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book

Discussion 0

Correct Answer: D,E Vote an answer

Question 2

Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses in Australia, New Zealand, and Singapore with a ledger in each country with a Corporate chart of account instance that has four segments. Which three statements are true regarding the creation of a control budget? (Choose three.)

A. The control budget structure has all the chart of account segments as budget segments B. A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand, and Singapore C. A control budget can allow override rules only if the control level is absolute D. Control budgets are always absolute to generate encumbrance accounting E. A control budget can be associated with a different calendar than accounting calendar

Discussion 0

Correct Answer: C,D,E Vote an answer

Question 3

All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships. What is Oracle's recommended approach to performing consolidations?

A. Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program B. Use Oracle Hyperion Financial Management for this type of complex consolidation. C. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then creates a ledger set across all ledgers and report on the ledger set. D. Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.

Discussion 0

Correct Answer: A Vote an answer

Question 4

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

Discussion 0

Correct Answer: A Vote an answer

Question 5

You are implementing a multipillar implementation of both HCM Cloud and ERP Cloud. You are implementing ERP first followed by HCM Cloud. You want to ensure your ledgers and chart of accounts are correctly defined. What should you do? (Choose three)

A. Use the Rapid Implementation spreadsheet when creating your enterprise structure B. Deploy your chart of accounts C. Create your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets D. Use HCM's Enterprise Structure Configurator (ESC) first E. Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies

Discussion 0

Correct Answer: A,B,D Vote an answer

Question 6

Budgetary control for accounts 5020 and 5021 has a budget of $90,000USD each for the year 2012. The accounts also have balances on obligation of $10,000 USD for each and an expenditure of $20,000 USD for each. A Fund of $50,000 USD is available for account 5010 only. You have run the Encumbrance Year End Carry Forward process for obligation from the last period of the year 2012 to the first period of year 2013.
Which statement is true?

A. If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward. B. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances C. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward D. If you have included 5020 and 5021 in the encumbrance rule, the budget balances $90,000 USD, obligation $10,000 USD and expenditure $20,000 USD only will be carried forward. E. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forward

Discussion 0

Correct Answer: E Vote an answer

Question 7

All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance.
They do perform intercompany accounting. What is Oracle's recommended approach to performing consolidations?

A. Define multiple ledgers for consolidation and report on ledger set B. Use Oracle Hyperion Financial Management for this type of complex consolidation C. Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger. D. Use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment

Discussion 0

Correct Answer: B Vote an answer

Question 8

The budget managers specify the budget accounts they want to monitor and decide on percentage threshold of funds availability. Where must you define the details while analyzing budget balances in the Budget Account Monitor page?

A. Budget Group B. Budget Account Group C. Application Development Framework Desktop Integration (ADFdi) D. Budget Controller E. Account Group

Discussion 0

Correct Answer: B Vote an answer

Oracle Financials Cloud: General Ledger 2019 Implementation Essentials - 1Z1-1054 Exam Practice Test