[Apr-2024] The Best Oracle Financials Cloud 1z0-1054-23 Professional Exam Questions [Q14-Q31]

admin • April 5, 2024

[Apr-2024] The Best Oracle Financials Cloud 1z0-1054-23 Professional Exam Questions [Q14-Q31]

Rate this post

[Apr-2024] The Best Oracle Financials Cloud 1z0-1054-23 Professional Exam Questions

Try 100% Updated 1z0-1054-23 Exam Questions [2024]

NO.14 You have redesigned your chart of accounts and need to update your existing cross-validation rules. There is a requirement for new rules; some simply need to be updated and others need to be deleted.
What is the most efficient way to achieve this?

by using the Manage General Ledger Security page.

by creating Cross-Validation Rules desktop-integrated spreadsheet.

by using Cross-Validation Rules Import file-based data import (FBDI).

by using the Manage Cross-Validation Rules page.

NO.15 Which two allow access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis?
(Choose two.)

Universal Content Management Workspace

Reports and Analytics

Business Process Management Workspace

Enterprise Performance Management Workspace

Scheduled Processes

NO.16 You notice that a lot of erroneous address data is being saved. How do you ensure that only valid addresses are entered in the system?

Define the Geography Validation for Country option to Error.

Redefine the location structure.

Redefine the geography hierarchy.

Define the Geography Validation for Country option to No Validation.

NO.17 You have just been hired to add a new subsidiary to the corporate enterprise structure in the customer’s Oracle Fusion Cloud.
The subsidiary will capture transaction information from subledgers in the local currency and under International Financial Reporting standards (IFRS) and local GAAP for corporate reporting requirements, which will report via the use of a secondary ledger.
The secondary ledger is used only at period end; there is no need to have real-time transaction or Journal details. It is noted that most of the accounting between IFRS and Corporate GAAP is similar.
Which conversion level would you recommend to keep a thin secondary ledger?

Journal ledger

Adjustment only

Balance level

Sub-ledger level.

NO.18 Which two statements are true regarding the Translation process? (Choose two.)

Any resulting offset from the translation is entered in the Cumulative Translation Adjustment account.

If necessary, before submitting the Translation process, the Revaluation process should be completed.

The Translation process should be run before posting Period Close adjustment entries.

The Translation process can only be used for translating the balances of Secondary ledgers.

The Translation process can only be used to translate balance sheet accounts.

NO.19 You need to set up a calendar for the year Apr-XX to Mar-YY where YY is the following year, and you would like the periods to be named according to the year they fall in.
What format should you choose?

Fiscal Year

Calendar Year

Period

Year

NO.20 What are two uses of the Column Flattening and Row Flattening features? (Choose two.)

Set the status of a tree to active.

Create additional versions of a tree.

Verify correctness of trees.

View information for runtime performance.

Optimize parent/child relationships.

NO.21 Challenge 2
Manage Shorthand Aliases
Scenario
Your client intends to utilize the Shorthand Aliasfeature and would like to see how the aliases willappear when entering transactions.
Task 2
Create a shorthand alias for the US Chart of Accounts to record Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center.

Note:
. Prefix your alias name with 07, where 07 is your exam ID.
. There is no Product or Intercompany impact.

NO.22 You are trying to run a Financial Reporting Web Studio report from Financial Reporting Center. However, it is not appearing as a choice.
Which are two reasons for this? (Choose two.)

You have not saved it in the MyFolders directory.

You have not saved it in the Shared Folder/Custom/Financials directory.

You have not uploaded it to Financial Reporting Center.

You have not downloaded the report to your local drive.

NO.23 Your ledger currency is USD. At month end you have a balance on the Accounts Payable Liability Account of
100,000 Euros which is equivalent to USD 136,550. This balance needs to be revalued.
The month end exchange rate for revaluation is 1 Euro = 1.3755 USD.
What two statements are true for the resulting revaluation run? (Choose two.)

The original journal entry in Euros is updated.

There is no unrealized exchange gain or loss calculated.

The original journal entry in Euros remains the same.

You have an unrealized exchange gain recorded.

You have an unrealized exchange loss recorded.

NO.24 You are using the Create Budgets in a Spreadsheet option to load your budget balances into the General Ledger balances cube. Your FYXX Budget is not appearing in the Budget Name list of values.
What are two reasons for this?

A value for the budget scenario is not created.

Transfer Budget Balances to Budget Cubes has not been run.

Publish Chart of Accounts Dimension Members and Hierarchies to the Balances Cube has not been run.

Budgeting is not enabled in the Ledger options.

The Create Scenario Dimension Members program has not been run.

NO.25 You are capturing rental costs for a building in a corporate cost center. At month end, you want to allocate those costs to the cost centers in the building based on the floor area occupied. A statistical journal has been entered to record the floor area. You use Calculation Manager to create the allocation.
Where do you reference the statistical balance within the allocation component?

Source

Allocation Range

Target

Offset

Basis

NO.26 You are planning to create an Income Statement using Smart View.
Which Smart View tool should you use for this?

Smart Queries

Smart Slices

Ad Hoc Analysis

Query Designer

NO.27 You have a requirement to have invoices generated for certain Intercompany transactions.
Where do you enable invoicing?

the transaction batch

the transaction category

the transaction source

the transaction type

NO.28 You are using Oracle General Ledger (GL), Oracle Payables, and Oracle Receivables and you want to prevent the closure of the GL period if the corresponding subledger period is not closed. How do you achieve this?

Set the ORA_GLJNCLD_STRICT_PRD_CLOSE profile option to yes.

Set the relevant option on the Specify Ledger Options page.

Opt in to the Prevent Period Close option for the offering.

You don’t have to do anything; this option is enabled automatically.

NO.29 In the implementation project, there is a requirement to add new transactional attributes to the journal approval notification.
Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.)

The layout Template

Output type

The Style Template

The Sub Template

The Data Model

NO.30 The Cloud Client wants to add a global branding logo and more predefined transactional attributes to the journal approval email notification.
Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.)

Output type

The layout-Template

The Data Model

The Data Source

The Sub_Template

NO.31 When will Intercompany processing balance a journal using the accounts identified here for the UK Ledger?

when there is a many-to-many journal and you want to use a clearing company

when the journal is not balanced by the primary balancing segment value (BSV)

when the journal is balanced by the primary BSV but not by second or third BSV

when the journal is balanced by second balancing segment value

Explanation
Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary balancing segment value (BSV) but not by second or third BSV. A BSV is a segment in the chart of accounts that identifies a legal entity or business unit for which financial statements are prepared and balanced. A primary BSV is required for every ledger and is used to balance journal entries within a ledger. A secondary or tertiary BSV is optional and is used to balance journal entries across different dimensions otherthan the primary BSV, such as fund or region. Intercompany processing is a feature that enables intercompany transactions between different legal entities or business units within the same enterprise.
Intercompany processing uses intercompany balancing rules to generate intercompany receivables and payables accounts for cross-ledger or cross-BSV journals. Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary BSV but not by second or third BSV, as this indicates that there is an intercompany transaction between different legal entities or business units within the UK Ledger that requires intercompany balancing. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when there is a many-to-many journal and you want to use a clearing company, as this is a scenario that involves multiple legal entities or business units across different ledgers that requires a separate clearing company ledger to perform intercompany balancing. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is not balanced by the primary BSV, as this is an invalid scenario that violates the accounting rules and prevents posting of the journal. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by second balancing segment value, as this is an incomplete scenario that does not specify whether the journal is also balanced by primary and third BSV. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives – Configure and Process Intercompany 12