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

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Oracle 1Z0-1054-21 Exam Syllabus Topics:

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

1. 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 for both subledger balances and general ledger balances
B) When using ADB, you must define a daily calendar and assign it to your ADB ledger
C) Average balances are stored in the Essbase cube
D) 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
E) Average balances are maintained for both actual and budget balances

2. You entered users who are both employees and contingent workers. You want an automated way to assign, reassign, and remove roles from users. What feature do you use?

A) DATA ROLES
B) ORACLE IDENTITY MANAGER ROLES ASSIGNMENT
C) ACCESS POLICY MANAGER'S ROLE GENERATION
D) ROLE MAPPINGS
E) YOU CANNOT REASSIGN CONTINGENT WORKERS

3. You have enabled budgetary control and have a control budget set to Advisory control level. For September 2016, your budget for a given account combination is $5,000 USD. In the same month, there is an approved requisition for that account of $900 and an approved purchase order for that account of$2,500 USD. There is also a General Ledger adjustment journal entry for that account of $1,600 USD.
An approved purchase order line of $400 USD is then cancelled. And an invoice is matched to the purchase order for $2,100 USD. Which two statements are true? (Choose two.)

A) No change
B) The system always consumes budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation
C) As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016
D) Funds reservation only happens for non-matched invoices, so the system will not reserve funds

4. You want to process multiple allocations at the same time. What feature do you use?

A) Rulesets
B) General Ledger Entries
C) Formulas
D) Point of View(POV)

5. you need to define a chart of accounts includes a intercompany segment. Your customer plans to use segment value security rules for the company segment. What is Oracle's recommended method to define this chart of accounts?

A) Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance.
B) Define the company segment only and qualify it as both primary balancing segment and intercompany segment.
C) Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level.
D) Define Two Different Chart of Accounts

Solutions: