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Oracle 1Z0-1054-21 Exam Syllabus Topics:

Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

Question 1

When working with Essbase, versions of the tree hierarchy as defined in the fusion not available in the Essbase balances cube. What should you do to correct this situation?

A. Redeploy the chart of accounts.
B. Make sure to flatten the rows of the tree version
C. Make sure the tree is active.
D. Make sure the tree version was published successfully

Question 2

Your customer uses Financials Cloud, Projects, Inventory and Procurement. Which two statements are true regarding intercompany accounting for these products? (Choose two.)

A. Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management
B. They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub
C. Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals
D. Each product has its own Intercompany Accounting feature that needs to be set up separately

Question 3

You want to define an allocation rule where segment values are constants (or rules and formulas. What should you do?

A. Only specify segment values in formulas.
B. Always use the Outer Point of View (POV)
C. Specify Run Time Prompts (RTP)
D. Never use the Outer Point of View (POV)

Question 4

You create an invoice for USD 100 that is matched to a purchase order of USD 100. You validate the invoice to consume the budget and reduce funds available. And then later, you cancel invoice. What happened to funds available when you cancel and invoice that requires budgetary control?

A. The Budget and funds available will increase by USD 100.
B. The funds reserved for the purchase order is reinstated while the invoice expenditure is reversed by USD 100
C. The Budget will increase by USD 100 ad the funds available will decrease by USD 100
D. funds Available will change when the invoice is approved

Question 5

Your company has two legal entities in the US (Balancing Segment Value (BSV 101 and 102) one legal entity in France (BSV 401) and one legal entity in the UK (BSV 402) Both US legal entities share the same ledger, whereas the UK and France have their own ledgers Assuming intercompany transactions are not being entered, what is the minimal action you can take to still configure the ledger correctly?

A. You should assign a balancing segment value to identify each legal entity in the US ledger
B. You should assign the balancing segment value to the ledger in the US and assign the balancing segment value to identify each legal entity in the UK and France Ledgers
C. You should assign a balancing segment value to identify each legal entity in each ledger
D. You should assign a balancing segment value to identify each legal entity in the US and assign balancing segment value to the ledger in the UK and France

Solutions: