1Z0-1054-22 Online Practice Questions and Answers
You entered a journal and the client is asking for the following information:
1.
The current account balance
2.
What the future account balance will be if the journal is approved and posted
How will you get this information?
A. Query the account balance online
B. Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances
C. View the Projected Balances region in the Create Journals page
D. Run a Trial Balance before and after posting
Which tool can you use to create a Financial Income Statement?
A. One View Reporting
B. PS/nVision
C. Account Inspector
D. Rapid Implementation Enterprise Structures setup
A company implementing Oracle General Ledger has a business requirement to report under two accounting conventions and is considering setting up a Primary and Secondary ledger. The two accounting standards are very close.
Which data conversion level should you recommend to ensure only manual journals will be entered in the secondary ledger?
A. Adjustment Only Level
B. Subledger Level
C. FBDI Level
D. Balance level
E. Journal Level
You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for $300 is matched to the purchase order. What will be the funds status of the purchase order and the invoice?
A. Both are Partially Reserved
B. The purchase order is Liquidated and the invoice is Partially Reserved
C. The purchase order is Partially Liquidated and the invoice is Partially Reserved
D. The purchase order is Partially Liquidated and the invoice will be Reserved
E. Both are reserved
F. The purchase order is Open and the invoice is Validated
The Delete Translated Balances process provides the ability to completely reset translations in the event that significant changes are made to the accounting configuration.
Once the deletion process completes, what additional process must you run?
A. Submit the Update General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.
B. Submit the Create General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.
C. Submit the Create Currency Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.
D. Submit the Create Scenario Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.
You want your sales representatives to be able to find points of interest, such as customers, while out on business. What should you enable to achieve this?
A. HZ_GEO_IDENTIFIER_SUBTYPE Lookup
B. Geocoding
C. Validation
D. Address Cleansing
Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)
A. You can only drill down to the general ledger journal and then from there to the subledger journal entry.
B. The report includes Ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.
C. The report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
D. The report displays the intercompany receivables and intercompany payables balances in summary for a period.
E. The report displays all clearing company balancing lines for a period.
When will Intercompany processing balance a journal using the accounts identified here for the UK Ledger?
A. when there is a many-to-many journal and you want to use a clearing company
B. when the journal is not balanced by the primary balancing segment value (BSV)
C. when the journal is balanced by the primary BSV but not by second or third BSV
D. when the journal is balanced by second balancing segment value
Your customer uses Financials Cloud, Projects, Inventory and Procurement.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)
A. Each product has its own Intercompany Accounting feature that needs to be set up separately
B. Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals
C. Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management D. They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub
What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)
A. Posting performance is much faster
B. Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules
C. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis
D. You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously
E. You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts