1Z0-1054-21 Pre-Exam Practice Tests (Updated 136 Questions) [Q27-Q44]

Posted On July 15, 2022

1Z0-1054-21 Pre-Exam Practice Tests | (Updated 136 Questions)

Valid 1Z0-1054-21 Exam Q&A PDF – One Year Free Update

NEW QUESTION 27
Yourcustomer wants to use a clearing company to automatically balance intercompany entries.
Which three statements are true regarding the use of a clearing company value? (Choose three.)

You must map legal entities to balancing segment values in order to use a clearing company

If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger

Clearing companies are not supported

If you map legal entities to balancing segment values,then a clearing company can only be applied within a legal entity

If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal

NEW QUESTION 28
You want to enter budget data in General Ledger Cloud. Which method is not supported?

Entering budget journals

Application Development Framework Desktop Integration (ADFdi)

Direct budget balance updates from a Financial Statement in Smart View

File-based Data Import

NEW QUESTION 29
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)

NEW QUESTION 30
Which two allow access to the BI Catalog for creating an Oracle Transactional Business Intelligences analysis? .

Enterprise performance Management Workspace

Reports and Analytics

Universal Content Management Workspace

Business Process Management Workspace

Scheduled Processes

https://docs.oracle.com/cd/E51367_01/commonops_gs/OCHRA/F1518712AN10625.htm Oracle Fusion Transactional Business Intelligence Security: Explained Oracle Fusion Transactional Business Intelligence is a real-time, self-service reporting solution. All Oracle HCM Cloud service application users with appropriate roles can use Oracle Fusion Transactional Business Intelligence to create analyses that support decision-making. Business users can perform current-state analysis of their business applications using a variety of tools. These include Oracle Business Intelligence Enterprise Edition (Oracle BI EE) as the standard query and reporting tool, Oracle Business Intelligence Answers (Oracle BI Answers), and Oracle Business Intelligence Dashboard end-user tools. This topic summarizes how access is secured to Oracle Fusion Transactional Business Intelligence subject areas, Business Intelligence Catalog folders, and Business Intelligence reports.

NEW QUESTION 31
While troubleshooting the encumbrance entries created for the requisition for your business unit, you noticed that only a few events are triggering the encumbrance journals when you submit he create accounting program. What are the two events?

Create change request on the requisition after submitting requisition for approval

Checkout and Save the requisition

Funds check

Submit the requisition for approval

Requisition rejected by the buyer

Requisition approved

Encumbrance accounting is a form of budgetary control within Oracle Applications that enables a company to allocate funding for specific accounts. The funds checking feature which is an integral part of encumbrance accounting, checks for availability of funds on a particular accounting combination. The funds checking feature can be performed either at the entry level itself before committing the transaction or when the approval is made for the transaction. The approval process checks for the funds check level and the approval is made only when the transaction is passed with the funds check process.

NEW QUESTION 32
What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)

Posting performance is much faster

Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules

General ledger balances are multidimensional, allowing you to perform robust reporting and analysis

You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensionalbalances are also updated simultaneously

You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts

NEW QUESTION 33
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?

Oracle Transactional Business Intelligence (OTBI)

Business Intelligence Publisher (BI Publisher)

Financial Reporting Center

Smart View

Oracle Data Visualization Cloud Service

NEW QUESTION 34
Your customer wants to use a clearing company to automatically balance intercompany entries. Which three statements are true regarding the use of a clearing company value? (Choose three.)

If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal

You must map legal entities to balancing segment values in order to use a clearing company

If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger

If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity

Clearing companies are not supported

NEW QUESTION 35
Your customer is planning to have three balancing segments for generating balance sheets and income statements at cost center segment and program segment level Which two recommendations would you give your customer?

Additional intercompany balancing and clearing options will need to be defined. Z

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

Every journal where debits do not equal credits across the three balancing segments will need

When entering journals manually, the customer will need to make sure that debits and credits

https://docs.oracle.com/cd/E25054_01/fusionapps.1111/e20375/F569979AN6EF6E.htm#F569450AN70
1B8

NEW QUESTION 36
Budgetary control for accounts 5020 and 5021 has a budget of $90,000USD each for the year 2012. The accounts also have balances on obligation of $10,000 USD for each and an expenditure of $20,000 USD for each. A Fund of $50,000 USD is available for account 5010 only. You have run the Encumbrance Year End Carry Forward process for obligation from the last period of the year 2012 to the first period of year 2013.
Which statement is true?

If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forward

The Encumbrance Year End Carry Forward processwill run for all the accounts to carry forward the general ledger balances

If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.

If you have included 5020 and5021 in the encumbrance rule, the budget balances $90,000 USD, obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.

If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will becarried forward

NEW QUESTION 37
Before Implementing Financials Cloud, your customer used to manually reconcile their intercompany payables and receivables accounts, What’s is a more automated approach to do this?

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

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

NEW QUESTION 38
Your are setting up Close Monitor, which comprises a ledger set hierarchy definition. Which two components of the enterprise structure should the ledgers in the ledger set share? (Choose Two)

Chart of Accounts and Business Units

Legal Entities, Business Units, and Chart of Accounts,

Chart of Accounts

Accounting Calendar

Chart of Account, Currency, Accounting Calendar, and Sub ledger Accounting Method

NEW QUESTION 39
Management wants to use the budget transfer function available on the Review Budgetary Control Balances page. Which privilege is required to performthe budget transfer?

Import Budget Amounts from Spreadsheet
(XCC_IMPORT_BUDGET_FROM_SPREADSHEETS_PRIV)

Import Budget Amounts (XCC_IMPORT_BUDGET_PRIV)

Manage Control Budgets (XCC_MANAGE_CONTROL_BUDGETS_PRIV)

Budget Loading (XCC_BUDGET_LOADING_DUTY_PRIV)

NEW QUESTION 40
You need to distribute departmental expense reports to l00 department managers in your organization.
The report format is the same, but the department values differ. What in the most efficient way to achieve this?

When defining the report, make the Department Segment a prompt and when users view the report, they can change the prompt to their department

Set up Bursting Options for your batch to prepare multiple versions of a report from a single process

Set the Department segment as a User Point of View (POV) and submit a report batch and schedule it:
to run for every department. Send the different batch outputs as PDF attachments via email to different users.

Create a single report for all departments. When department managers log in to Financial Reporting Center, they will only be able to view their department’s data based on Segment Value Security Rules.

NEW QUESTION 41
You need to create a boardroomready month-end reporting package for an upcoming Audit Committee meeting. You have 10 Financial Reports that you want to share with executives and auditors that are nicely formatted.
What are the two Oracle recommended ways to accomplish this? (Choose two.)

Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee

Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book

Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet

Use a report batch to run reports at a specific time to create a set of snapshot reports

Use OTBI to create multiple reports that you save to a folder that only the users can access

NEW QUESTION 42
You have exported data from your budgeting application into a .csv file.
What should you use to load that data into General Ledger?

The budget journal spreadsheet

Enterprise Resource Budget Integrator

File Based Data Import

Application Developer Framework Desktop Integrator

NEW QUESTION 43
You want to monitor the close process if all your financial subledgers and ledgers. How can you quickly obtain this information?

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

Access each subledgers’ calendar and General Ledgers’ Manage Accounting Periods page to view the status of each period

Run Closing Status Reports

Use Close Monitor in General Accounting Dashboard

NEW QUESTION 44
During implementation, a consultant accidentally designated the cost center segment as the natural account. Values have already been assigned and journals have been posted.
Select the process that allows you to change the qualifier back to cost center qualifier.

Delete the segment and create a new segment with the correct qualifier.

Delete the chart of accounts and create a new one.

Change and save the segment qualifier.

Create a new chart of accounts.

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