Oracle 1Z0-1054-21 Valid Dump : Oracle Financials Cloud: General Ledger 2021 Implementation Essentials

1Z0-1054-21 real exams

Exam Code: 1Z0-1054-21

Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials

Updated: Dec 17, 2024

Q & A: 136 Questions and Answers

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Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

1. Which feature outside of reporting and analysis leverages the Essbase cube?

A) Journal entries and journal approval to create journals that update balances to the cube directly.
B) period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync
C) Revaluations and translation of revalue and translate currencies stored in the Essbase cube
D) Calculation manager to perform allocations based on multidimensional balances and budgets


2. After loading your budget data into General Ledger Cloud, you can view budget balances using these features.?

A) Smart View
B) ADFDI Budget Balance Report
C) Account Monitor
D) Account Inspector


3. You entered a cross validation rule to prevent the balance sheet cost center (000) being used with Profit.
and Loss Accounts (4000-2222). ) being
The following combinations exist in the Code Combination table:
01-000-4110-00, 01-000-5299-000, 01-000-5105-000 and 01-000-7640-00
Which two statements are true regarding cross-validation rules?

A) The rules validate and apply to new accounts only
B) There is no need to create cross-validation rules if Dynamic Combination Creation eek. fs ; enabted for your chart of accounts instance. 1 & You need to run the Cross-Validation Rule Violations process to allow rules te apely lind combinations that violate rules.
C) You need to run the Cross-Validation Rules Process to list and optionally disable combinations a
D) The rules will validate and apply to new and existing accounts. Xs


4. Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses is 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?

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


5. Your customer has many eliminating entries to eliminate intercompany balances. The General Ledger does not include a purpose-built Consolidation feature. How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?

A) There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management
B) Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period.
C) Create a manual journal that includes the eliminating entries, and then create a copy of the journal batch every period
D) Use the spreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period


Solutions:

Question # 1
Answer: C
Question # 2
Answer: B
Question # 3
Answer: A,C
Question # 4
Answer: A,C,E
Question # 5
Answer: B

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