Download Oracle Financials Cloud: General Ledger 2020 Implementation Essentials.1Z0-1054-20.PremDumps.2021-01-21.78q.vcex

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Vendor: Oracle
Exam Code: 1Z0-1054-20
Exam Name: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials
Date: Jan 21, 2021
File Size: 72 KB
Downloads: 2
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Demo Questions

Question 1
What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)
  1. Posting performance is much faster
  2. Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules 
  3. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis
  4. 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
  5. You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts
Correct answer: CD
Question 2
Which tool can you use to create a Financial Income Statement?
  1. One View Reporting
  2. PS/nVision
  3. Account Inspector
  4. Rapid Implementation Enterprise Structures setup
Correct answer: C
Question 3
Which feature outside of reporting and analysis leverages the Essbase cube?
  1. revaluations and translation to revalue and translate currencies stored in the Essbase cube
  2. calculation manager to perform allocations based on multidimensional balances and budgets
  3. period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync
  4. journal entries and journal approval to create journals that update balances to the cube directly
Correct answer: A
Question 4
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? 
   
  1. Invoice type will have less funds available by $400 USD
  2. $400 USD will be expired and not available for use
  3. $400 USD will be added back to available funds
  4. Only obligation type will have $400 USD funds available
  5. Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of $400 USD
Correct answer: C
Question 5
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?
  1. Define three segments for the company, department, and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.
  2. Define four segments for the company, department, natural account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, and intercompany segment, respectively.
  3. Define three segments for the company, department, and natural account. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, respectively.
  4. Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.
Correct answer: D
Question 6
Which reporting tool is best suited for submitting high-volume transactional reports, such as Invoice Registers or Trial Balance reports, that can be configured to extract the data in Rich Text Format or xml?
  1. Oracle Transactional Business Intelligence (OTBI)
  2. Business Intelligence Publisher (BI Publisher)
  3. Financial Reporting Center 
  4. Smart View
  5. Oracle Data Visualization Cloud Service
Correct answer: B
Question 7
You want to process multiple allocations at the same time. What feature do you use?
  1. RuleSets
  2. Formulas
  3. General Ledger journal entries
  4. Point of View (POV) 
Correct answer: A
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?
  1. Data is summarized across segments that are not mapped to Hyperion Financial Management
  2. The unmapped segments default to future use segments in Hyperion Financial Management
  3. No data is transferred
  4. Errors occur for unmapped segments. You must map multiple segments from source general ledgers to the target segment in Hyperion Financial Management
Correct answer: D
Question 9
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?
  1. Use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment
  2. Use Oracle Hyperion Financial Management for this type of complex consolidation
  3. 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.
  4. Define multiple ledgers for consolidation and report on ledger set
Correct answer: B
Question 10
You want to define an allocation rule where segment values are constants for rules and formulas. What should you do?
  1. Never use the Outer Point of View (POV)
  2. Always use the Outer Point of View (POV)
  3. Specify Run Time Prompts (RTP)
  4. Only specify segment values in formulas
Correct answer: C
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