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

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Oracle 1Z0-1054-21 Exam Syllabus Topics:

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

1. 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) You need to run the Cross-Validation Rules Process to list and optionally disable combinations a
B) The rules will validate and apply to new and existing accounts. Xs
C) The rules validate and apply to new accounts only
D) 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.

2. Identify three roles that get access to the reports in the Fusion Accounting Hub Reporting Cloud Service (FAHRCS). (Choose three.)

A) Controller
B) General Accountant
C) Business Intelligence Administrator (BI Admin)
D) Financial Analyst
E) General Accountant Manager

3. You are setting up Close Monitor, which comprise a ledger set hierarchy definition. Which two components of the enterprise structure should the ledgers in the ledger set share.(Choose Two)

A) Chart of Accounts and Business Units.
B) Legal Entities, Business Units and Chart of Accounts.
C) Chart of Accounts. Currency, Accounting Calendar, an subledger Accounting Method.
D) Accounting Calendar

4. Your customer is a financial Institution that needs to maintain average daily balances (ADB). Which two statements are true regarding this functionality in Fusion Applications?

A) Average balances are stored in the Essbase cube
B) When using ADB, you must define a daily calendar and assign it to your ADB ledger
C) Average balances are stored for both subledger balances and general ledger balances
D) Average balances are maintained for both actual and budget balances
E) ADB provides organizations with the ability to track average and end-of-day balances, report average balance sheets, and create custom reports using both actual and average balances

5. Your customer wants to enable real-time spending controls for transaction amount but does not need General Ledger journals or balances for purchase orders and requisitions Which implementation option should you suggest?

A) Enable Budgetary Control only
B) Enable Budgetary Controi or Encumbrance Accounting
C) Enable Budgets in General Ledger
D) Enable Encumbrance Accounting only
E) Enable Budgetary Control and Encumbrance Accounting

Solutions: