Verified 1Z0-1054-21 dumps Q&As 100% Pass in First Attempt Guaranteed Updated Dump from Real4Prep [Q10-Q34]

Q10. Most of the accounting entries for transactions form your source system use TRANSACTION_AMOUNT as a sourceof the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.
At what level can you override the default accounting attribute assignment?

Journal Entry Rule Set

Event Type

Journal Line Rule

JournalEntry

Event Class

Q11. Which two methods can your General Ledger accountants use to more easily view large amounts of data contained in the tables in their work areas? (Choose two.)

Use the Freeze feauture on the tables to scroll through large amounts of data

Run a Business Intelligence Publisher report with Excel as the output format

Export the table to Excel

Detach the table to resize it to the maximum size of the monitor.

Q12. you are defining intercompany balancing rules that are applied to a specific source and category, such as payables and invoices, or a specific intercompany transaction type, such as intercompany sales. Which two statements are correct? (Choose Two)

you can create a rule for all sources and categories by selecting the source “Other” and the category
“Other”.

Set up a chart of accounts rule for every chart of accounts structure you have in order to ensure that intercompany balancing will always find a rule to use to generate balancing accounts.

if you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value

You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work

Q13. Your company has two legal entities in the US (Balancing Segment Value (BSV 101 and 102) one legal entity in France (BSV 401) and one legal entity in the UK (BSV 402) Both US legal entities share the same ledger, whereas the UK and France have their own ledgers Assuming intercompany transactions are not being entered, what is the minimal action you can take to still configure the ledger correctly?

You should assign a balancing segment value to identify each legal entity in each ledger

You should assign the balancing segment value to the ledger in the US and assign the balancing segment value to identify each legal entity in the UK and France Ledgers

You should assign a balancing segment value to identify each legal entity in the US ledger

You should assign a balancing segment value to identify each legal entity in the US and assign balancing segment value to the ledger in the UK and France

Q14. Which tool can you use to create a Financial Income Statement?.

Account Inspector

Rapid Implementation Enterprise Structures setup

PS/nVision

One View Reporting

Q15. Which two statements are true regarding the export/import of reports?

A set of reports are provided for both exported and imported setup data to validate the export/import processes and setup data.

Reports on setup data can be used to compare and analyze how the data might have changed over time.

A set of reports lists user names, suppliers, and customers that have been exported/imported.

The export/import reports are available only for Fusion Customer Relationship Management.

To view errors encountered during the export or import Process, you must use SQL queries to obtain that data because no reports exist.

Q16. You are reconciling your subledger balances and you need a report that includes beginning and ending account balances and all transactions that constitute the account’s activities. What type of report will provide this type of information?

Journal Reports

Aging Reports

an Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances

Account Analysis Report

Q17. What are the two purposes of a secondary ledger? (Choose two.)

It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options

It should not be used when trying to meet local accounting requirements

It is used to main balances in a different currency only

It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting

It should only be used to main balances for processing performance

Q18. How do you hide accounts with no balances showing #Missing in Smart view?

Select the Data/Missing check box in the Data Options tab

This indicates a database connection issue

Choose the Suppress Zeros option under Data options

Use Excel functions to hide rows with #Missing assigned

Q19. You want to monitor the close process of all your financial subledgers and ledgers. How can you quickly obtain this information?

Use the Manage Accounting Periods page to view the status of all subledgers and ledgers

Accesseach subledgers’ calendar and General Ledger’s Manage Accounting Periods page to view the status of each period

Run Closing Status reports

Use Close Monitor in General Accounting Dashboard

Q20. On which three occasions are Essbase balances updated? (Choose three.)

every time the tree version is published

every time you open a new period

every time you run the batch program called “Update Essbase Balances”

every time journals are posted to the general ledger

Q21. You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for
$300 is matched to the purchase order. What will be the funds status of the purchase order and the invoice?

Both are reserved

The purchase order is Partially Liquidated and the invoice is Partially Reserved

The purchase order is Liquidated and the invoice is Partially Reserved

The purchase order is Partially Liquidated and the invoice will be Reserved

The purchase order is Open and the invoice is Validated

Q22. You have enabled budgetary control and have a control budget set to Advisory control level. ForSeptember
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.)

No change

Purchase order encumbrance will be released for $2,100 USD

Funds reservation only happens for non-matched invoices, so the system will not reserve funds

As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016

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

Q23. Identify three roles that get access to the reports in the Fusion Accounting Hub Reporting Cloud Service (FAHRCS). (Choose three.)

Financial Analyst

General Accountant Manager

General Accountant

Business Intelligence Administrator (BI Admin)

Controller

Q24. You are implementing Financials Cloud and are using spreadsheets to load Legal Entities, Business Units, and Account Hierarchies. Which three setup objects can be loaded via a spreadsheet from Functional Setup Manager?

complete Accounting Configuration

chart of account values, accounting calendar, and ledger

setup data for Receivables and Payables product

Banks, Bank Accounts, and Branches

Suppliers and Customers

Q25. How do Cross Validation Rules(CVRs) handle existing violations in the Code Combinations Identification (CCID) table?

Nothing has changed. If you have an invalid account combination existing in the table, you must deactivate it to prevent further usage

CVRs are assigned to the end user role; therefore controlling what account code combination individuals can leverage in the General Ledger and the subledgers

CVRs only test new account combinations being inserted into the table. They ignore any invalid account combinations already existing in the table

If CVR determines that an invalid combination exists in the CCID table, it will automatically disable that account code combination.

Q26. Which repot show you differences between your subledger balances and General Ledger balances?

Payables to Ledger Reconciliation Report and the Receivables to Ledger Reconciliation Report

General Ledger Financial Statements and the Accounts Payable and Accounts Receivables Invoice Registers

Payables Trial Balance, Receivables Trial Balance, and General Ledger Trial Balance reports

Payables and Receivables Aging Reports with the General Ledger Trial Balance report

Q27. You want to automatically post journal batches imported form subledger sources to prevent accidental edits or deletions of the subledger sources journals, which could cause an out-of-balance situation between your subledgers and general ledger. Which two aspects should you consider when defining your AutoPost Criteria?
(Choose two.)

Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process

Create your AutoPost criteria using minimal sources and categories

Include all of your subledger sources in the AutoPost CriteriA. Divide up criteria sets by subledger source only if you need to schedule different posting times

Schedule your AutoPostCriteria set to run during off-peak hours only

Q28. Which tool can you use to create a Financial Income Statement?

One View Reporting

PS/nVision

Account Inspector

Rapid Implementation Enterprise Structures setup

Q29. Which two methods can your General Ledger accountants use to more easily view large amounts of data contained in the tables in their work areas? (Choose two.)

Run a Business Intelligence Publisher report with Excel as the output format

Detach the table to resize it to the maximum size of the monitor.

Export the table to Excel

Use the Freeze on the tables to scroll through large amounts of data

Q30. Your Financial Analyst needs to interactively analyze General Ledger balances with the ability down to originating transactions. Which three features facilitate this?

Online Transactional Business Intelligence

Smart View

Financial Reports published to Excel

Account Monitor

Account Inspector

Q31. Which AMX builder method is most effective in routing the journals to the Accounting Manager when his subordinate, The General Accountant, enters a journal?

Supervisory levelapproval

Cost center based approval

Dynamic Approval Groups

Management Chain approval

Approval Groups

Q32. You just submitted the Accounting Configuration. What two things musthappen before you can enter journals?
(Choose two.)

You must re-deploy the chart of accounts

A Data Access Set with full read/write access to the ledger is automatically created

You must define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration

You must assign the job role and data security context to each user

Q33. Which two statements are true regarding the Intercompany Reconciliation Report?

This report Includes Ledger balancing lines generated when the Primary balanced Segment value
{BSV) is in balance, but either the second or third BSVs are not.

You can only drill down to the general ledger journal and then from there to the subledger: Journal transactions.

This report displays the intercompany receivables and intercompany payables balances Summary for a period

This report can be run using an additional Currency and conversion rate to converts all amount into a common Currency for comparison.

This report displays only the reconciled transactions, You need to further process automatic reconciliation to reconcile the unreconciled

Q34. 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?

Invoice type will have less funds available by $400 USD

$400 USD will be expired and not available for use

$400 USD will be added back to available funds

Only obligation type will have $400USD funds available

Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of
$400 USD