Free Oracle Financials Cloud: General Ledger 2022 Implementation Professional Exam 1Z0-1054-22 Exam Practice Test

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 level approval
• Cost center based approval
• Dynamic Approval Groups
• Management Chain approval
• Approval Groups

When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choosetwo).

• Financial Reporting Studio
• Smart View
• Oracle Financial Statement Generator
• Financial Reporting Center

You need to create a 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.Identify 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
• Use a report batch to run reports at a specific time to create a set of snapshot reports
• 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 OTBI to create multiple reports that you save to a folder that only the users can access

Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)

• You can only drill down to the general ledger journal and then from there to the subledger journal entry.
• This report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
• This report displays only the reconciled transactions. You need to further process automatic reconciliation to reconcile the unreconciled transactions.
• This report includes Ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.
• This report displays the intercompany receivables and intercompany payables balances in summary for a period.

Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries. What is Oracle's recommended practice when implementing a new chart of accounts? How many segments and what segment qualifiers should be used?

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

You are using Oracle General Ledger (GL), Oracle Payables and Oracle Receivables and would like toprevent the closure of the GL period if the corresponding subledger period is not closed.How will you achieve this?

• Opt in to the Prevent Period Close option for the offering
• Set the relevant option on the Specify Ledger Options page
• Nothing, this option is enabled automatically
• Set the ORA_GL_INCLD_STRICT_PRD_CLOSE profile option to yes

You are creating financial statements and want to have charts, such as a bar graph, automatically inserted to improve the understanding financial results. How would you achieve this?

• Use Smart View, which is an Excel Add-on
• Use Account Inspector that automatically creates graphs on financial balances
• When viewing the report, download to Excel and use Excel's Charting features to create your bar graph
• When designing your financial statement using Financial Report (FR), embed a chart into your report

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

You entered a cross validation rule to prevent the balance sheet cost center (000) being used with Profit andLoss Accounts (4000-ZZZZ).-The following combinations exist in the Code Combination table:01-000-4110-00, 01-000-5299-000, 01-000-5105-000 and 01-000-7640-00Which two statements are true regarding cross-validation rules? (Choose two.)

• The rules validate and apply to new accounts only D18912E1457D5D1DDCBD40AB3BF70D5D
• You need to run the Cross-Validation Rules process to list and optionally disable combinations that violate rules
• You need to run the Cross-Validation Rule Violations process to allow rules to apply to existing combinations that violate rules
• There is no need to create cross-validation rules if Dynamic Combination Creation Allowed is not enabled for your chart of accounts instance
• The rules will validate and apply to new and existing accounts

All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance.They do perform intercompany accounting. What is Oracle's recommended approach to performing consolidations?

• Use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment
• Use Oracle Hyperion Financial Management for this type of complex consolidation
• Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
• Define multiple ledgers for consolidation and report on ledger set