Free Oracle Financials Cloud: General Ledger 2024 Implementation Professional Exam 1Z0-1054-24 Exam Practice Test

Which three factors should you consider while specifying Intercompany System options?

• Approvers who will approve intercompany transactions
• Automatic or manual batch numbering and the minimum transaction amount
• Whether to allow receivers to reject intercompany transactions
• Whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies
• Automatic or manual batch numbering and the maximum transaction amount

You are creating values for the chart of account value set that you are planning to use for the account segment within your Chart of Accounts. You are not able to assign an Account Type.What is the reason for this?

• The Account Type qualifier has not been enabled when defining the value set.
• You have not set the Allow Budgeting attribute for the value set.
• You are creating values before assigning the value set to the structure.
• You have not set the Allow Posting attribute for the value set.

On a primary ledger in Use system options close section, the following field has been selected: 'Prevent General Ledger Period Close When Open Subledger Periods Exist'.What three exceptions will prevent closing of the accounting period?

• Pending Transaction in General Ledger Interface
• No pending transaction in the General Ledger Interface table
• Pending Intercompany Transactions
• Intercompany Transactions are completed

You are reconciling your Payables and Receivables balances against the General Ledger. You are using the Payables to Ledger Reconciliation report.You notice discrepancies between the balances in the subledgers, subledger accounting, and general ledger.Which three factors are responsible for these out-of-balance situations?

• Intercompany transactions have not been fully processed.
• Period Close processes, such as Revaluation, Translation, and Consolidation have not been performed yet.
• There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.
• Subledger transactions have been accounted and transferred to General Ledger but have not been posted.
• All subledger transactions have been entered but do not have complete accounting.

You attempt to activate a tree version, but the audit process fails. In which two ways can you resolve this?

• Run the Chart of Accounts Deployment process.
• Run the Publish Chart of Accounts Dimension Members and Hierarchies program.
• Ensure that parent values have the summary attributes set correctly.
• Ensure that you do not assign children to child values.
• Make sure all users sign out of the calculation manager.

You can run predefined reports to reconcile subledger application balances to General Ledger balances. Which attribute must you set up on the Manage Values page for chart of accounts segmentvalues so that you can run the Payables to General Ledger Reconciliation report or Receivables to General Ledger Reconciliation report?'

• End Date
• Start Date
• Reconcile
• Financial Category
• Third Party Control Account

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?

• Oracle Identity Manager Roles Assignment
• Access Policy Manager's Role Generation
• You cannot reassign contingent workers
• Role Mappings
• Data Roles

An Oracle Fusion Cloud customer has a complex enterprise structure that includes multiple legal entities in multiple countries. To match the intercompany balancing requirements, all four levels of rules have been defined. In user testing, the business experts are asking which rule will be considered first when balancing an intercompany journal?

• Ledger-level rule
• Legal entity-level rule
• Chart of accounts rule
• Primary balancing segment rule

Users with the General Accountant job role have reported that they are unable to access the UK Ledger. They require read/write access to the full ledger. The accounting configuration completed successfully.What should you do to allow access to the ledger?

• Assign the UK reference set to the user/role combination.
• Assign the security context value of UK Ledger to the user/role combination.
• Create a data access set that allows access to the UK Ledger.
• Assign the General Accounting Manager role to those users.

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 OTBI analysis
• An Account Group
• General Ledger inquiries and reports
• A SmartView analysis