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1z0-1054-25 Exam Dumps For Certification Exam Preparation
NEW QUESTION # 28
You have three ledgers that use the same chart of accounts with one intercompany payable and one intercompany receivable account. The chart of accounts also has an intercompany segment. Each ledger has one legal entity assigned to it and each legal entity is associated with one balancing segment value.
At what level should you define the default intercompany balancing rule?
- A. Primary balancing segment rule
- B. Ledger-level rule
- C. Legal entity-level rule
- D. Chart of accounts rule
Answer: D
Explanation:
You should define the default intercompany balancing rule at the legal entity level, because each ledger has one legal entity assigned to it and each legal entity is associated with one balancing segment value. This way, you can specify the intercompany receivables and payables accounts for each legal entity and ensure that the journals are balanced by legal entity or primary balancing segment values. A ledger-level rule would apply to all legal entities in the ledger, which may not be appropriate if they have different intercompany accounts. A primary balancing segment rule would apply to all ledgers that share the same chart of accounts, which may not be desirable if they have different intercompany rules. A chart of accounts rule would apply to all ledgers and legal entities that use the same chart of accounts, which may not be feasible if they have different intercompany segments or accounts. References:
* Intercompany Balancing Rules, Section: Define Intercompany Balancing Rules
* Overview of Intercompany Balancing Rules, Section: Define Intercompany Balancing Rules
* Troubleshooting Guide For Intercompany Balancing, Section: 1. Journals and subledger accounting entries are not being balanced for intercompany activity
* Implement General Ledger, Section: Intercompany Balancing
NEW QUESTION # 29
Your company wants to change theCumulative Translation Adjustment (CTA) accountto record gains/losses from varying currency rates.
What steps must you perform to achieve this objective without causing data corruption?
- A. Open the Ledgers page and update the CTA account and then rerun Translation for all periods required.The system will automatically update the translated balances.
- B. Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.
- C. Query the Translation journals and delete all of them, then change the CTA account in the Ledger page, and rerun Translation for all periods required.
- D. Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use.
Answer: B
NEW QUESTION # 30
Your customer is a financial institution that needs to maintain average daily balances (ADB).
Which statement is true about this functionality in Oracle Fusion Cloud applications?
- A. Average balances are maintained for both actual and budget balances.
- B. Average balances are stored for both subledger and general ledger balances.
- C. When using ADB, you must define a transaction calendar and assign it to your ledger.
Answer: A
NEW QUESTION # 31
Which two can you use to import geographical data?
- A. ADF desktop integration
- B. SQL Data loader
- C. File-based data import (FBDI)
- D. Geographical data providers
Answer: C,D
NEW QUESTION # 32
What is the key functionality of Smart View in Oracle Cloud Financial Reporting?
- A. It is a data visualization tool that offers a library of interactive charts and graphs for financial analysis.
- B. It is an Excel based add in that integrates with Oracle Essbase GL data for performing financial analysis and reporting.
- C. It is a mobile application for accessing real-time financial dashboards on smartphones and tablets.
Answer: B
NEW QUESTION # 33
You already ranTranslation, but a last-minuteadjusting journal entryin yourledger currencywas entered after you consolidated your results.
What does Oracle considerbest practicewhen this occurs?
- A. Rerun Revaluation and then rerun Translation.
- B. Translate only the adjusting journal entry.
- C. Enter another adjusting journal entry in the target currency to true up the balances.
- D. Rerun Translation and then reconsolidate your results.
Answer: D
NEW QUESTION # 34
A new Oracle Fusion Cloud client needs to produce an income statement on a regular basis using Smart View.
Which Smart View tool would be best for this?
- A. Smart Queries
- B. Smart Slices
- C. Query Designer
- D. Account Groups
Answer: C
Explanation:
Query Designer is a Smart View tool that enables you to create and modify ad hoc queries on General Ledger balances cubes. You can use Query Designer to select the dimensions, members, and filters that you want to include in your query, and then retrieve the data in a grid format in Excel. You can also save, open, and refresh your queries as needed. Query Designer is the best tool for producing an income statement on a regular basis using Smart View, because it allows you to easily access and analyze the income and expense accounts, as well as the ledger, period, currency, and other dimensions that are relevant for your report. You can also customize the layout and format of your grid, and use Excel functions and features to enhance your report. References:
* Overview of Smart View
* Creating an Ad Hoc Analysis in Smart View
NEW QUESTION # 35
Which two statements are true about the Intercompany Reconciliation report?
- A. It can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
- B. It displays all clearing company balancing lines for a period.
- C. You can only drill down to the General Ledger journal and then from there to the Subledger journal entry.
- D. It displays the intercompany receivables and intercompany payables balances in summary for a period.
- E. It includes ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.
Answer: A,D
Explanation:
The Intercompany Reconciliation report is a tool that helps you reconcile your intercompany transactions and identify any discrepancies between the provider and receiver sides. The report shows the entered or transaction amount of the accounting entries booked to the intercompany receivables and payables accounts for a pair of provider and receiver legal entities. The accounted amounts may be different when the conversion rates used for the intercompany receivables and payables are different. Therefore, you can run the report using an additional currency and conversion rate that converts all amounts into a common currency for comparison. This option helps you manage the currency risk and the conversion rate fluctuations for intercompany transactions. The report also displays the intercompany receivables and payables balances in summary for a period, and any differences between them. You can drill down on the links to view the balances by source and then by journal lines. You have full drill-down capabilities to the general ledger journal, subledger accounting entry, and source receivables or payables transaction. References:
* Intercompany Reconciliation
* Intercompany Reconciliation Reports
NEW QUESTION # 36
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. Transfer Budget Balances to Budget Cubes has not been run.
- B. A value for the budget scenario is not created.
- C. Publish Chart of Accounts Dimension Members and Hierarchies to the Balances Cube has not been run.
- D. Budgeting is not enabled in the Ledger options.
- E. The Create Scenario Dimension Members program has not been run.
Answer: B,E
Explanation:
To use the Create Budgets in a Spreadsheet option, you need to have a budget scenario value and a scenario dimension member for your budget. A budget scenario value is a user-defined value that identifies a budget, such as FYXX Budget. A scenario dimension member is a member of the scenario dimension in the General Ledger balances cube that corresponds to a budget scenario value, such as FYXX_Budget. You can create budget scenario values and scenario dimension members using the Manage Budget Scenario Values task or the Create Scenario Dimension Members program. If you do not create these values and members, your budget will not appear in the Budget Name list of values in the spreadsheet. Therefore, the two reasons for your issue are:
* A value for the budget scenario is not created: You need to create a budget scenario value for your budget using the Manage Budget Scenario Values task. This task enables you to define and maintain budget scenario values and their attributes, such as description, start date, end date, and status. You can also specify whether the budget scenario value is enabled for budgeting and reporting. You need to enable the budget scenario value for budgeting to use it in the spreadsheet.
* The Create Scenario Dimension Members program has not been run: You need to run the Create Scenario Dimension Members program to create scenario dimension members for your budget scenario values. This program automatically creates scenario dimension members for all budget scenario values that are enabled for budgeting and do not have existing scenario dimension members. You can run this program manually or schedule it to run periodically. You need to run this program after you create or update budget scenario values to ensure that they are reflected in the scenario dimension.
:
Create Budgets in a Spreadsheet
Manage Budget Scenario Values
Create Scenario Dimension Members
NEW QUESTION # 37
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?
- A. Pending Intercompany Transactions
- B. Intercompany Transactions are completed
- C. Pending Transaction in General Ledger Interface
- D. No pending transaction in the General Ledger Interface table
Answer: A,B,C
NEW QUESTION # 38
Challenge 2
Manage Shorthand Aliases
Scenario
Your client intends to utilize the Shorthand Alias feature and would like to see how the aliases will appear 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.
Answer:
Explanation:
See the Explanation for the complete Solution.
Explanation:
Here are the steps you need to follow:
* In the Setup and Maintenance work area, go to the following:
* Offering: Financials
* Functional Area: Financial Reporting Structures
* Task: Manage Shorthand Aliases
* Select the chart of accounts that you want to create the alias for. In this case, it is the Corporate chart of accounts.
* Click on the Add Row icon to create a new alias. Enter the following information:
* Alias Name: RevDom
* Account Template: 101-2000-400000-000-000-000
* Description: Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center
* Enabled: Yes
* Start Date: Today's date
* End Date: Blank
* Click on the Save and Close button to save the alias.
You have successfully created a shorthand alias for the US Chart of Accounts. For more information, you can refer to the following resources:
* Account Aliases
* Enter a GL Account Alias
* Short Hand Alias in Fusion Financials Key Flexfield
* How to Enable Account Shorthand Aliases
NEW QUESTION # 39
Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)
- A. Each product has its own Intercompany Accounting feature that needs to be configured separately.
- B. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects.
- C. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product.
- D. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals.
Answer: A,B
Explanation:
According to Oracle documentation1, the following statements are true regarding intercompany accounting for Financials Cloud, Projects, Inventory, and SCM: Each product has its own Intercompany Accounting feature that needs to be configured separately, and Intercompany Balancing Rules are defined centrally and applied across Financials and Projects. Intercompany accounting is the process of recording transactions between related entities within an enterprise or between groups in the same legal entity. Each product has its own Intercompany Accounting feature that enables you to create, process, and reconcile intercompany transactions. Intercompany Balancing Rules are used to generate balancing entries for journals that are out of balance by legal entity or primary balancing segment values. Intercompany Balancing Rules are defined in General Ledger and applied across Financials and Projects. Therefore, options A and C are correct. Option B is incorrect because Intercompany Balancing Rules are not used to balance cross-ledger allocation journals.
Option D is incorrect because Intercompany balancing rules in General Ledger do not need to be mapped with the intercompany configuration in each product.
NEW QUESTION # 40
What is the key function of currency revaluation?
- A. Converting the accounted balances from one currency to another target currency
- B. Adjusting the accounted value of foreign currency denominated balances according to current conversion rates
- C. Measuring the current financial transactions that are denominated or stated in an accounting (local) currency into the functional currency of the entity
Answer: B
NEW QUESTION # 41
The intercompany accountants on the cloud project are trying to reconcile intercompany balances using the latest intercompany reconciliation report.
However, they have some concerns about the information presented in the report and want you to clarify the content in the standard reconciliation report.
What is included in the intercompany reconciliation report?
- A. It displays ledger balancing lines generated when the primary balancing segment (BSV) is in balance but not the second or third BSVs.
- B. It displays all clearing company balances for the period.
- C. It displays the intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction.
Answer: C
NEW QUESTION # 42
Budgetary control for accounts5020and5021has a budget of$90,000 USDeach for the year2012. The accounts also have balances onobligation of $10,000 USDfor each and anexpenditure of $20,000 USDfor each.
AFund of $50,000 USDis available for account5020only. You have run theEncumbrance Year End Carry Forward processfor obligation from the last period of the year2012to the first period of year2013.
Which statement is true?
- A. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances.
- B. If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.
- C. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forward.
- D. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward.
Answer: C
NEW QUESTION # 43
You are reconciling yourPayablesandReceivablesbalances against theGeneral Ledger. You are using the Payables to Ledger Reconciliation report.
You notice discrepancies between the balances in thesubledgers, subledger accounting, and general ledger.
Which three factors are responsible for these out-of-balance situations?
- A. All subledger transactions have been entered but do not have complete accounting.
- B. Intercompany transactions have not been fully processed.
- C. Period Close processes, such as Revaluation, Translation, and Consolidation have not been performed yet.
- D. There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.
- E. Subledger transactions have been accounted and transferred to General Ledger but have not been posted.
Answer: B,C,E
NEW QUESTION # 44
You are setting up Close Monitor for your organization. What is the key consideration when selecting the ledgers or ledger sets that form part of the Close Monitor hierarchy?
- A. The members of the Close Monitor hierarchy must share a common Chart of Accounts and calendar.
- B. The members of the Close Monitor hierarchy must all share the same accounting convention.
- C. The members of the Close Monitor hierarchy must all be primary ledgers or secondary ledgers.
Answer: A
NEW QUESTION # 45
You have been tasked with creating user-defined infolets to monitor key financial metrics. However, you cannot see the option to create infolets in the Infolet repository. What are the two requirements to be able to see the Create option?
- A. You must create a dashboard.
- B. You must be in a sandbox.
- C. You must define your OTBl analyses.
- D. You must publish a sandbox.
- E. You must activate Page Composer.
Answer: B,E
NEW QUESTION # 46
Which three are considered legal jurisdictions?
- A. Post Code
- B. Identifying Zone
- C. Single Country
- D. Group of Countries
- E. State
Answer: C,D,E
NEW QUESTION # 47
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 segment values so that you can run the Payables to General Ledger Reconciliation report or Receivables to General Ledger Reconciliation report?'
- A. Third Party Control Account
- B. End Date
- C. Start Date
- D. Financial Category
- E. Reconcile
Answer: D
NEW QUESTION # 48
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?
- A. Assign the UK reference set to the user/role combination.
- B. Assign the security context value of UK Ledger to the user/role combination.
- C. Assign the General Accounting Manager role to those users.
- D. Create a data access set that allows access to the UK Ledger.
Answer: D
Explanation:
Data access sets are collections of ledgers that define the data security for users who access General Ledger.
Users can only access the ledgers that are assigned to them through data access sets. To allow users with the General Accountant job role to access the UK Ledger, you need to create a data access set that includes the UK Ledger and assign it to the user/role combination. You also need to specify the access privilege for the data access set, which can be Full Ledger, Both Read and Write, or Read Only. In this case, you need to select Both Read and Write to allow read/write access to the full ledger. References:
* Implement General Ledger
* GL_ACCESS_SET_LEDGERS
* The Default Data Access Set
* Overview of General Ledger Security
NEW QUESTION # 49
Which two statements are true if a journal description rule is defined with sources?
- A. You cannot assign journal description rules to sources.
- B. The description rule can only be assigned to the header or line level.
- C. The description rule can only be assigned to the journal line level.
- D. The description rule may be assigned to either the header or line level, or to both.
- E. The sources must also be assigned to the accounting event class that is assigned to the journal entry rule set.
Answer: D,E
NEW QUESTION # 50
You attempt to activate a tree version, but the audit process fails. In which two ways can you resolve this?
- A. Ensure that parent values have the summary attributes set correctly.
- B. Make sure all users sign out of the calculation manager.
- C. Ensure that you do not assign children to child values.
- D. Run the Chart of Accounts Deployment process.
- E. Run the Publish Chart of Accounts Dimension Members and Hierarchies program.
Answer: A,C
NEW QUESTION # 51
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