1z0-1054-22 by Oracle Actual Free Exam Q&As

Question 1

What are two uses of the Column Flattening and Row Flattening features? (Choose two.)

A. Optimize parent/child relationships. B. Verify correctness of trees. C. Set the status of a tree to active. D. Create additional versions of a tree. E. View information for runtime performance.

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Correct Answer: B,C Vote an answer

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Question 2

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

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Correct Answer: D Vote an answer

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Question 3

You are setting up Close Monitor, which compromises a ledger set hierarchy definition.
Which two components of the enterprise structure should the ledgers in the ledger set share? (Choose two.)

A. Legal Entities, Business Units, and Chart of Accounts B. Chart of Accounts C. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method D. Chart of Accounts and Business Units E. Accounting Calendar

Discussion 0

Correct Answer: B,E Vote an answer

Question 4

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

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Correct Answer: D,E Vote an answer

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Question 5

On a primary ledger in the system options close section, the following field has been selected 'Prevent General Ledger Period Closure When Open Subledger Periods Exist'.
For which three subledgers can you opt out of the period close checking feature by using the lookup ORA_GL_INCLD_STRICT_PRD_CLOSE? (Choose three.)

A. Assets B. Receipt accounting C. Revenue Management D. Receivables E. Order Management

Discussion 0

Correct Answer: A,B,D Vote an answer

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Question 6

During implementation, a consultant accidentally designated the cost center segment as the natural account. Values have already been assigned and journals have been posted.
Select the process that allows you to change the qualifier back to cost center qualifier.

A. Delete the chart of accounts and create a new one. B. Delete the segment and create a new segment with the correct qualifier. C. Change and save the segment qualifier. D. Create a new chart of accounts.

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Correct Answer: C Vote an answer

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Question 7

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

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Correct Answer: B,D,E Vote an answer

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Question 8

Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation. What feature can you use to be proactively notified of account anomalies in a more timely manner?

A. Smart View B. Account Inspector and its charts C. Account Monitor D. Financial Reports with Embedded charts

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Correct Answer: C Vote an answer

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Question 9

When working with Essbase, versions of the tree hierarchy as defined in the General Ledger Cloud are not available in the Essbase balances cube. What should you do to correct this situation?

A. Make sure the tree version was published successfully B. Redeploy the chart of accounts C. Make sure the tree is active D. Make sure to flatten the rows of the tree version

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Correct Answer: A Vote an answer

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Oracle Financials Cloud: General Ledger 2022 Implementation Professional - 1z0-1054-22 Exam Practice Test