[Feb 05, 2023] Valid 1Z0-1054-21 Test Answers Full-length Practice Certification Exams [Q57-Q78]

QUESTION 57
Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses is Australia, New Zealand, and Singapore with a ledger in each country with a Corporate Chart of Account instance that has four segments. Which three statements are true regarding the creation of a control budget?

The control Budget structure has all the chart of accounts segments as budget segments.

A Control Budget can allow override rules only if the control level is absolute.

Control Budget are always absolute to generate encumbrance accounting.

A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand and Singapore.

A Control Budget Can be associated with a different calendar than accounting calendar.

QUESTION 58
You are implementing a multipillar implementation of both HCM Cloud and ERP Cloud.You are implementing ERP first followed by HCM Cloud. You want to ensure your ledgers and chart of accounts are correctly defined. What should you do? (Choose three)

Deploy your chart of accounts

Use HCM’s Enterprise Structure Configurator (ESC) first

Create your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets

Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies

Use the Rapid Implementation spreadsheet when creating your enterprise structure

QUESTION 59
Your customer wants to have balance sheets and income statements for their 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)

Define Leger balancing options to balance by second and third balancing segments.

When entering Journals manually, the customer will need to make sure that the debits and credits are equal across all balancing segments because the system will not automatically balance is journal.

Additional intercompany rules will need to be defined for the two additional balancing segments.

Every Journal where debits do not equal across the three balancing segments will result in the system generating extra journal lines to balance the entry.

QUESTION 60
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?

Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level.

Define Two Different Chart of Accounts

Define the company segment only and qualify it as both primary balancing segment and intercompany segment.

Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance.

QUESTION 61
Your Customer has three legal entities, 50 Departments, and 10,000 natural accounts. They use intercompany entries. What is Oracle’s recommended best practice when implementing: a new chart of accounts? How many segments and what segment qualifiers should be used?

Define five segments for the company, department, natural account, intercompany segment and future segment. The qualifiers should be primary balancing segment , cost center segment, natural account segment, intercompany segment an no qualifier respectively.

Define Three segments for the company, department, and natural accounts, the qualifiers should be primary balancing segment, cost center segment, and natural account segment, respectively

Define Three segments for the company, department, and natural accounts. The qualifiers should be primary balancing segment, intercompany segment, cost center segment, and natural account segment, respectively

Define four segments for the company, department, natural account and intercompany segment. The qualifiers should be primary balancing segment , cost center segment, natural account segment and intercompany segment respectively

QUESTION 62
Which two statements areTRUEregarding the Balances Cubes in General Ledger? (Choose two.)

They are updated automatically when the General Ledger period is opened

New dimensions can be added to a General Ledger Balances Cube

They are updated automatically when the Revaluationprocess is run

A new Balances Cube is created for a unique combination of Ledger and Currency

They are updated automatically when the Translation process is run

QUESTION 63
Management wants to use the budget transfer function available on the Review Budgetary control Which privilege is required to perform the budget transfer?

Import Budget Amounts (XCC_IMPORT_BUDGET_AMOUNTS_PRIV)

Manage Control Budgets (XCC_HANAGI_CONIROL_BUDGrs.PRIV)

Budget Loading (XCC_BUDGET_LOADING_DUiPRIV)

Import Budget Amount from Spreadsheet (XCC_IMPORT_BUDET_FROM_SPREADSHEET_PRIV)

QUESTION 64
Your customer wants to prevent their department managers from viewing the results of other departments where they have no management authority. What should be implemented for this type of security?

Data Access Sets

Role-Based Access

Segment Value Security

Cross-Validation Rules

QUESTION 65
Most of the accounting entries for transactions from your source system use TRANSACTION_AMOUNT as a source of 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

Event Type

Journal line Rule

Journal Entry Rule Set

Event Class

QUESTION 66
Management has added a requirement to segregate the duties oftransferring journals to the General Ledger from the posting function. Which two new features allow this segregation? (Choose two.)

Uncheck the Enable Posting from the Manage Subledger Accounting Options task.

Journal entry spreadsheets are not impacted by this new function.

Must have separate user defined roles using the privilege
XLA_CREATE_GENERAL_LEDGER_AND_SUBLEDGER _JOURNALS.

For previously scheduled automated processes, it is recommended to cancel and rescheduled the process for the option to be effective.

QUESTION 67
You want to enter budget date in General Ledger Cloud, which method is not supported?

Direct budet balance updaes from a Financial Stement in smart view

Application Development framework Desktop Integration (ADFdi)

File-based Data import

Entering Budget Journal

QUESTION 68
Which feature outside of reporting and analysis leverages the Essbase cube?

Journal entries and journal approval to create journals that update balances to the cube directly.

Revaluations and translation of revalue and translate currencies stored in the Essbase cube

period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync

Calculation manager to perform allocations based on multidimensional balances and budgets

QUESTION 69
You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason

Accounting Configuration was not submitted

Two tree versions were not defined

Chart of accounts was not deployed

An Audit process needs to be successfully performed before a tree version can be set to Active

QUESTION 70
What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availability? (Choose two.)

The purchase orderis canceled or finally closed or rejected without performing any receipt or invoice

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

The requisition reserved successfully undergoes amendment and is rejected in the reapproval

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

QUESTION 71
What Is Oracle Essbase?

A relational database

A data ware house

A robust reporting and analysis tool

A multidimensional Online Analytical Processing (OLAP) server that is embedded in Fusion GeneralLedger

QUESTION 72
Before implementing Financials Cloud, your customerused to manually reconcile their intercompany payables and receivables accounts. What is a more automated approach to do this?

Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances

In Financials Cloud, you must manually reconcile your intercompany account balances

Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances

Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance

Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances

QUESTION 73
Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation. What feature can you use to be proactively notified of account anomalies in a more timely manner?

Account Monitor

Financial Reports with Embedded charts

Smart View

Account Inspector and its charts

QUESTION 74
You need to setup a calendar for fiscal year Apr-XX to Mar-YY where YY is the following year and you would like the periods to be named accounting to the year they fall in What Calendar format should you choose?

Calendar

Period

Fiscal

Year

QUESTION 75
You have set up a supporting reference with balances to capture revenue by account manager.
Which option should you use to view the supporting reference balances?

an Account Group

an OTBI analysis

a SmartView analysis

General Ledger inquiries and reports

QUESTION 76
You are implementing Segment Value Security rules. Which two statements are true? (Choose two.)

When you enable Segment Value Security on a segment, users will notbe able to access any values until you grant access to users and products

You can use hierarchies to define rules

When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts

The Segment Value Security rules do not take effect until you assign the rules to users and products

QUESTION 77
Which two statements are true regarding how Intercompany Balancing Rule are defined? (Choose two.)

All ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules.

You can only define balancing rules for different journals’ sources. You cannot define balancing rules for different journal categories.

You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types.

You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment values.ys

QUESTION 78
The Create Accounting program could not determine the debit side of the journal entry Which component of Subledger Accounting determines the debit or credit side of a journal entry?

Journal Accounting Rule

Journal Line Rule

Journal Entry Rule

Journal Balances Rule

Account Rule