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Oracle 1Z0-1054-21 Exam Syllabus Topics:

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

1. You just submitted the Accounting Configuration. What two things must happen before you can enter journals? (Choose two.)

A) You must assign the job role and data security context to each user
B) A Data Access Set with full read/write access to the ledger is automatically created
C) You must re-deploy the chart of accounts
D) You must define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration

2. You want to define a tree or hierarchy for use in reports and allocations. What three aspects should you remember when creating the tree

A) You only need to flatten the columns if you plan to use the hierarchy in Oracle Transactional Business Intelligence (OTBI)
B) The tree should have at least two tree versions to reduce report and allocation maintenance
C) It is fine to have the same child value roll up to two or more different parent values
D) You need to flatten the rows to be able to use drilldown in Smart View and you must publish tree to view the hierarchy in Essbase cubes
E) You must flatten the columns and publish the tree to view the hierarchy in Essbase cubes

3. 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)

A) Deploy your chart of accounts
B) Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies
C) Use HCM's Enterprise Structure Configurator (ESC) first
D) Use the Rapid Implementation spreadsheet when creating your enterprise structure
E) Create your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets

4. What is the most efficient way to add a new year to the accounting calendar?

A) Add the periods manually
B) Use the Add Year button
C) Import the periods from a spreadsheet
D) The application automatically populates the next year when you open the first

5. What are the Two purposes of a secondary ledger?

A) it is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting.
B) it can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency and/or journal processing options
C) it is used to main balances in a different currency only
D) it should not be used when trying to meet local accounting requirements.
E) it should only be used to maintain balances for processing performance.

Solutions: