Updated 1z0-1054 Secret 2021

NEW QUESTION 1
You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?

• A. Two tree versions were not defined
• B. An Audit process needs to be successfully performed before a tree version can be set to Active
• C. Accounting Configuration was not submitted
• D. Chart of accounts was not deployed

Answer: B

NEW QUESTION 2
Management has added a requirement to segregate the duties of transferring journals to the General Ledger from the posting function. Which two new features allow this segregation? (Choose two.)

• A. Uncheck the Enable Posting from the Manage Subledger Accounting Options task.
• B. Journal entry spreadsheets are not impacted by this new function.
• C. Must have separate user defined roles using the privilege XLA_CREATE_GENERAL_LEDGER_AND_SUBLEDGER _JOURNALS.
• D. For previously scheduled automated processes, it is recommended to cancel and rescheduled the process for the option to be effective.

Answer: AD

NEW QUESTION 3
You want to define an allocation rule where segment values are constants for rules and formulas. What should you do?

• A. Never use the Outer Point of View (POV)
• B. Always use the Outer Point of View (POV)
• C. Specify Run Time Prompts (RTP)
• D. Only specify segment values in formulas

Answer: C

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

Answer: B

NEW QUESTION 5
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. Use General Ledger’s Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiar
• B. Any eliminating entries can be entered in yet another separate balancing segment
• C. Use Oracle Hyperion Financial Management for this type of complex consolidation
• D. 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.
• E. Define multiple ledgers for consolidation and report on ledger set

Answer: B

NEW QUESTION 6
Your customer requires physical invoices to be generated in Payables Cloud and Receivables Cloud for the Intercompany payables and receivables transactions. Which two statements are correct with regards to setting this up? (Choose two.)

• A. You only need to assign the Legal Entity and Organization Contact
• B. You can only associate one Intercompany Organization per Legal Entity
• C. You must have implemented Payables Cloud and Receivables Cloud
• D. You must assign the corresponding Receivables and Payables Business Units

Answer: CD

NEW QUESTION 7
You are implementing Segment Value Security rules. Which two statements are true? (Choose two.)

• A. When you enable Segment Value Security on a segment, users will not be able to access any values until you grant access to users and products
• B. You can use hierarchies to define rules
• C. When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts
• D. The Segment Value Security rules do not take effect until you assign the rules to users and products

Answer: AB

NEW QUESTION 8
Your company has complex consolidation requirements with multiple general ledger instances. You are using Oracle Hyperion Financial Management to consolidate the disparate General Ledgers. You can typically map segments between your general ledger segment to a Hyperion Financial Management segment, such as Company to Entity, Department to Department, and Account to Account. What happens to segments in your source general ledger, such as Program, that cannot be mapped to Hyperion Financial Management?

• A. Data is summarized across segments that are not mapped to Hyperion Financial Management
• B. The unmapped segments default to future use segments in Hyperion Financial Management
• C. No data is transferred
• D. Errors occur for unmapped segment
• E. You must map multiple segments from source general ledgers to the target segment in Hyperion Financial Management

Answer: D

NEW QUESTION 9
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. 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.
• C. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting metho
• D. Create a separate elimination ledger to enter intercompany elimination
• E. Then creates a ledger set across all ledgers and report on the ledger set.
• F. Use Oracle Hyperion Financial Management for this type of complex consolidation.

Answer: A

NEW QUESTION 10
Identify three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA). (Choose three.)

• A. Cloud customers can use both OTBI and OBIA
• B. OTBI allows you to create custom reports from real-time transactional data against the database directly
• C. OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications.
• D. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance.
• E. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications

Answer: BCE

NEW QUESTION 11
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. The requisition reserved successfully undergoes amendment and is rejected in the reapproval
• D. 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

Answer: AB

NEW QUESTION 12
Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries. What is Oracle’s recommended practice when implementing a new chart of accounts? How many segments and what segment qualifiers should be used?

• A. Define three segments for the company, department, and natural accoun
• B. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.
• C. Define four segments for the company, department, natural account, and intercompany segmen
• D. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, and intercompany segment, respectively.
• E. Define three segments for the company, department, and natural accoun
• F. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, respectively.
• G. Define five segments for the company, department, natural account, intercompany, and future use segmen
• H. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.

Answer: D

NEW QUESTION 13
Your customer wants to have balance sheets and income statements for its cost center and program segments. That is, the customer wants to have three balancing segments.
Which two recommendations would you give your customer? (Choose two.)

• A. Additional intercompany rules will need to be defined for the two additional balancing segments
• B. Every journal where debits do not equal credits across the three balancing segments will result in the system generating extra journal lines to balance the entry
• C. Define Ledger balancing options to balance by second and third balancing segments
• D. When entering journals manually, the customer will need to make sure that debits and credits are equal across all balancing segments because the system will not automatically balance the journal

Answer: AD

NEW QUESTION 14
How do Cross Validation Rules (CVRs) handle existing violations in the Code Combinations Identification (CCID) table?

• A. Nothing has change
• B. If you have an invalid account combination existing in the table, you must deactivate it to prevent further usage
• C. CVRs are assigned to the end user role; therefore controlling what account code combination individuals can leverage in the General Ledger and the subledgers
• D. CVRs only test new account combinations being inserted into the tabl
• E. They ignore any invalid account combinations already existing in the table
• F. If CVR determines that an invalid combination exists in the CCID table, it will automatically disable that account code combination.

Answer: C

NEW QUESTION 15
You want to be notified of anomalies in certain account balances in real time. What is the most efficient way to do this?

• A. Create an Account Group using Account Monitor
• B. Use Account Inspector
• C. Open a Smart View file saved on your desktop
• D. Perform an account analysis online

Answer: A

NEW QUESTION 16
Your customer has enabled budgetary control for purchase orders. They have a purchase order for $1,000 USD which is fully reserved. An invoice for $600 is entered and matched to the purchase order, and the purchase order is closed for further invoicing.
What happens to the remaining $400 USD?

• A. Invoice type will have less funds available by $400 USD
• B. $400 USD will be expired and not available for use
• C. $400 USD will be added back to available funds
• D. Only obligation type will have $400 USD funds available
• E. Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of$400 USD

Answer: C

NEW QUESTION 17
After loading your budget data into General Ledger Cloud, you can view budget balances using these features. Which feature does not belong on the list?

• A. Application Development Framework Desktop Integration Budget Balances Report
• B. Account Monitor
• C. Smart View
• D. Account Inspector

Answer: A

NEW QUESTION 18
You create an invoice for USD 100 that is matched to a purchase order of USD 100. You validate the invoice to consume the budget and reduce funds available. And then later, you cancel the invoice. What happens to funds available when you cancel an invoice that requires budgetary control?

• A. Funds available will change when the invoice is approved
• B. The funds reserved for the purchase order is reinstated while the invoice expenditure is reserved by USD 100
• C. The budget will increase by USD 100 and the funds available will decrease by USD 100
• D. The budget and funds available will increase by USD 100

Answer: B

NEW QUESTION 19
You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What so you need to enable?

• A. Drill Through in Grid Properties
• B. Nothin
• C. All report balances are drillable in all FR Studio reports
• D. Allow Expansion
• E. Report Functions

Answer: A

NEW QUESTION 20
The expense account of airfare was erroneously assigned to the account type “Liability”. Which method should you choose to fix the problem?

• A. Deactivate the value
• B. Run the “Segment Value Inheritance” program
• C. Run the “Correct Misclassified Account” program
• D. Run the “Update Balance Cube Chart of the Accounting Dimension” program

Answer: C

NEW QUESTION 21
Before implementing Financials Cloud, your customer used to manually reconcile their intercompany payables and receivables accounts. What is a more automated approach to do this?

• A. Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances
• B. In Financials Cloud, you must manually reconcile your intercompany account balances
• C. Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances
• D. Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance
• E. Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances

Answer: D

NEW QUESTION 22
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