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Preparation Guide for Oracle 1z0-1054-20: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials Administrator Exam
Introduction
Oracle is a global American information technology corporation located in California. Oracle is a multinational organisation that designs enterprise software systems. Oracle sells numerous cloud-based software and frameworks, as well as hardware and resources to help businesses grow their operations. The emphasis of Oracle’s applications is data processing, market intelligence, IT operational management, corporate resource planning, protection, and new technologies. Oracle is well known for its hardware and cloud applications. Oracle Cloud, DBMS, is one of the most common corporate databases in the world.
Oracle also designs and develops methods and software for middle-tier application management frameworks, Human Capital Management (HCM), Customer Relationship Management (CRM), Enterprise Resource Planning Systems (ERP) and Supply Chain Management systems (SCM). Oracle Database is a multi-model database management framework generally known as the Oracle Database Management System (DBMS). It is a commonly used database for executing applications for data storage and transaction processing. Oracle Database is open to a variety of service providers on server, premises or mixed cloud installation.
This exam guide gives a brief introduction to the topics of 1z0-1054-20 practice exams and 1z0-1054-20 dumps.
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NEW QUESTION 49
Your enterprise structure has one ledger and two business units. Business unit one wants to enable budgetary control for Requisitioning only in Procure-to-Pay Business Functions and business unit two wants to enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions.
Which two statements are correct? (Choose two.)
- A. While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing.
- B. While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning.
- C. Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit.
- D. While defining control for business unit one, disable control for Procurement, Expense Management, Payable Invoicing, and Receiving.
- E. Define control for business unit two to disable control for Requisitioning, Procurement, Expense Management, and Receiving.
- F. Define budgetary control at ledger level and only encumbrance controls at the business units.
Answer: D,E
Explanation:
Explanation/Reference:
NEW QUESTION 50
Which feature outside of reporting and analysis leverages the Essbase cube?
- A. revaluations and translation to revalue and translate currencies stored in the Essbase cube
- B. calculation manager to perform allocations based on multidimensional balances and budgets
- C. journal entries and journal approval to create journals that update balances to the cube directly
- D. period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync
Answer: A
NEW QUESTION 51
Your client has been using Budgetary Control for six months. Now, they want to use the Spend Authorization.
After opting in the new feature Spend Authorization with Budgetary Control, what additional three actions need to be accomplished to activate this feature? (Choose three.)
- A. Enable Payment Request Subtypes
- B. Enable spend authorization
- C. Create a Payment Process Profile
- D. Rebuild the Budgetary Control Cube
- E. Rebuild the GL Balances Cube
Answer: A,B,D
Explanation:
Explanation
NEW QUESTION 52
You want to define an allocation rule where segment values are constants for rules and formulas. What should you do?
- A. Always use the Outer Point of View (POV)
- B. Specify Run Time Prompts (RTP)
- C. Only specify segment values in formulas
- D. Never use the Outer Point of View (POV)
Answer: A
Explanation:
Explanation
A Point of View is used to define dimension values that remain fixed throughout the entire allocation rule. For example, assume a chart of accounts includes a segment for future use. The Point of View fixes the value to be the default value so that the dimension value does not have to be selected while defining the source, basis, target, offset, or allocation range
NEW QUESTION 53
Journal Description Rules are assigned to Subledger Journal Entry Rule Sets.
What are the other three subcomponents of a Subledger Journal Entry Rule Set? (Choose three.)
- A. Journal Line Rules
- B. Accounting Date
- C. Chart of Accounts
- D. Supporting References
- E. Account Rules
Answer: A,D,E
NEW QUESTION 54
You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results. What is Oracle's recommended practice when this occurs?
- A. Rerun Translation and then reconsolidate your results
- B. Rerun Revaluation and then rerun Translation
- C. Enter another adjusting journal entry in the target currency to true up the balances
- D. Translate only the adjusting journal entry
Answer: A
NEW QUESTION 55
The expense account of airfare was erroneously assigned to the account type "Liability". Which method should you choose to fix the problem?
- A. Run the "Segment Value Inheritance" program
- B. Run the "Update Balance Cube Chart of the Accounting Dimension" program
- C. Deactivate the value
- D. Run the "Correct Misclassified Account" program
Answer: D
NEW QUESTION 56
In which two ways can your users personalize the Springboards and Work Areas to suit their individual working styles? (Choose two.)
- A. They can use "+" under the Apps section of the News Feed homepage
- B. They can have the System Administrator configuring pages for them using Page Composer
- C. They can format certain tables by hiding and showing columns, moving columns, and resizing columns
- D. Users have very little control configuring their Springboards and Work Areas; they can only resize columns
Answer: B,C
NEW QUESTION 57
Encumbrance accounting is enabled for your ledger. An encumbrance journal dated 3/15/19 was recorded for a purchase order.
The invoice was entered on 5/5/19, but the invoice accounting date was 4/20/19. The encumbrance journal for liquidating the purchase order encumbrance is dated 5/5/19.
What is causing this?
- A. The actual accounting date was set up under the encumbrance accounting Default Date Rule
- B. The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule
- C. The subledger accounting option is set to system date
- D. The current transaction accounting date was set up under the encumbrance accounting Default Date Rule
- E. The system date was set up under the encumbrance accounting Default Date Rule
Answer: D
NEW QUESTION 58
How can your Accounting Manager expedite journal processing during the time-critical month-end close?
- A. by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)
- B. by using the Close Status monitor to drill down on the close status across ledgers
- C. by running the Journals report using Business Intelligence Publisher
- D. by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Other
Answer: D
NEW QUESTION 59
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. Financial Reports with Embedded charts
- D. Account Monitor
Answer: D
NEW QUESTION 60
Your Financial Analyst needs to interactively analyze General Ledger balances with the ability to drill down to originating transactions. Which three features facilitate this? (Choose three.)
- A. Sunburst reports
- B. Account Inspector
- C. Account Monitor
- D. Online Transactional Business Intelligence
- E. Smart View
Answer: B,C,E
NEW QUESTION 61
You have exported data from your budgeting application into a .csv file.
What should you use to load that data into General Ledger?
- A. Enterprise Resource Budget Integrator
- B. File Based Data Import
- C. Application Developer Framework Desktop Integrator
- D. The budget journal spreadsheet
Answer: C
NEW QUESTION 62
You are defining an income statement report using Financial Reporting Studio. Users of the report need to be able to analyze the balances directly from the report.
What should you enable to allow this?
- A. Drill Through in Grid Properties
- B. Allow Expansion in Report Functions
- C. Drill Down in Report Functions
- D. Nothing. All report are drillable
Answer: C
NEW QUESTION 63
Identify three roles that get access to the reports in the Fusion Accounting Hub Reporting Cloud Service (FAHRCS). (Choose three.)
- A. Controller
- B. Financial Analyst
- C. Business Intelligence Administrator (BI Admin)
- D. General Accountant
- E. General Accountant Manager
Answer: B,C,E
NEW QUESTION 64
What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)
- A. Posting performance is much faster
- B. You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts
- C. Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules
- 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. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis
Answer: D,E
NEW QUESTION 65
You want to achieve multi-step cascading allocations, which feature do you use?
- A. Formulas
- B. RuleSets
- C. Point of View (POV)
- D. General Ledger journal entries
Answer: B
NEW QUESTION 66
What is the most efficient way to add a new year to the accounting calendar?
- A. Add the periods manually
- B. The application automatically populates the next year when you open the first period of a new fiscal year
- C. Import the periods from a spreadsheet
- D. Use the Add Year button
Answer: D
NEW QUESTION 67
When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two).
- A. Financial Reporting Center
- B. Smart View
- C. Financial Reporting Studio
- D. Oracle Financial Statement Generator
Answer: A,C
Explanation:
Explanation/Reference: https://docs.oracle.com/en/cloud/saas/financials/20c/faugl/financial-reporting-and- analysis.html#FAUGL513446
NEW QUESTION 68
What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availability? (Choose two.)
- A. The purchase order is canceled or finally closed or rejected without performing any receipt or invoice
- B. When the purchase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the extent of the unreceived amount
- C. When the requisition is set to accrue at period end and partially billed and then canceled or finally closed, encumbrance goes back to the budget to the extent of the unbilled amount
- D. The requisition reserved successfully undergoes amendment and is rejected in the reapproval
Answer: A,B
NEW QUESTION 69
Which two statements are true regarding how Intercompany Balancing Rule are defined? (Choose two.)
- A. You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types.
- B. You can only define balancing rules for different journals' sources. You cannot define balancing rules for different journal categories.
- C. All ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules.
- D. You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment values.ys
Answer: A,C
NEW QUESTION 70
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