[Sep-2023] Download Real Oracle 1z0-1054-22 Exam Dumps Test Engine Exam Questions
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NEW QUESTION # 61
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. Each product has its own Intercompany Accounting feature that needs to be set up separately
- C. Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals
- D. They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub
Answer: A,C
NEW QUESTION # 62
Most of the accounting entries for transactions form your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.
At what level can you override the default accounting attribute assignment?
- A. Event Class
- B. Journal Line Rule
- C. Event Type
- D. Journal Entry
- E. Journal Entry Rule Set
Answer: B
Explanation:
you can override the default accounting attribute assignment at the journal line rule level. A journal line rule defines how subledger journal lines are created for each event class and event type. Therefore, option C is correct. Option A is incorrect because a journal entry rule set defines how subledger journal entries are created for each event class, not how accounting attributes are assigned. Option B is incorrect because an event type defines a business operation that triggers accounting, not how accounting attributes are assigned. Option D is incorrect because a journal entry defines a set of subledger journal lines that are created for an accounting event, not how accounting attributes are assigned. Option E is incorrect because an event class defines a category of business transactions that have similar accounting impact, not how accounting attributes are assigned.
NEW QUESTION # 63
Which subject area has been enhanced to allow you to drill down from OTBI General Ledger Reports to a General Ledger journal?
- A. General Ledger - Journal Transaction Balances Real Time
- B. General Ledger - Journals Real Time
- C. General Ledger - Journal Balances Real Time
- D. General Ledger - Summary Journals Real Time
Answer: B
Explanation:
https://www.oracle.com/webfolder/technetwork/tutorials/tutorial/cloud/r13/wn/r13-2018-financials-wn.htm#F4376
NEW QUESTION # 64
Management has added a requirement to segregate the duties of transferring journals to the General Ledger from the posting function. Which two new features allow this segregation? (Choose two.)
- A. Must have separate user defined roles using the privilege XLA_CREATE_GENERAL_LEDGER_AND_SUBLEDGER _JOURNALS.
- B. For previously scheduled automated processes, it is recommended to cancel and rescheduled the process for the option to be effective.
- C. Journal entry spreadsheets are not impacted by this new function.
- D. Uncheck the Enable Posting from the Manage Subledger Accounting Options task.
Answer: B,D
NEW QUESTION # 65
Your client has been using Budgetary Control for six months. Now, they want to use the Spend Authorization.
After opting in the new feature Spend Authorization with Budgetary Control, what additional three actions need to be accomplished to activate this feature? (Choose three.)
- A. Enable spend authorization
- B. Rebuild the Budgetary Control Cube
- C. Create a Payment Process Profile
- D. Enable Payment Request Subtypes
- E. Rebuild the GL Balances Cube
Answer: A,B,D
Explanation:
The additional three actions that need to be accomplished to activate the Spend Authorization feature after opting in the new feature Spend Authorization with Budgetary Control are to enable Payment Request Subtypes, rebuild the Budgetary Control Cube, and enable spend authorization. Payment Request Subtypes are used to classify payment requests into different categories such as travel advance or expense reimbursement. You need to enable Payment Request Subtypes using the Manage Payment Request Subtypes task in Setup and Maintenance. Rebuilding the Budgetary Control Cube is required to update the budgetary control balances with the new spend authorization dimension. You need to rebuild the Budgetary Control Cube using the Rebuild Budgetary Control Balances Cube process in Scheduled Processes. Enabling spend authorization is required to allow users to create spend authorizations using self-service procurement or expenses applications. You need to enable spend authorization using the Manage Budgetary Control task in Setup and Maintenance. You do not need to enable Payment Process Profile, as this is a feature that defines payment processing options for payment requests such as payment method or format. You do not need to create a Tax Configuration Workbook, as this is a feature that allows you to import tax setup data using a spreadsheet template. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Process Budget Journals 12
NEW QUESTION # 66
You want to enter budget data in General Ledger Cloud. Which method is not supported?
- A. Direct budget balance updates from a Financial Statement in Smart View
- B. Entering budget journals
- C. File-based Data Import
- D. Application Development Framework Desktop Integration (ADFdi)
Answer: B
NEW QUESTION # 67
You entered a cross validation rule to prevent the balance sheet cost center (000) being used with Profit and Loss Accounts (4000-ZZZZ).
-
The following combinations exist in the Code Combination table:
01-000-4110-00, 01-000-5299-000, 01-000-5105-000 and 01-000-7640-00
Which two statements are true regarding cross-validation rules? (Choose two.)
- A. You need to run the Cross-Validation Rule Violations process to allow rules to apply to existing combinations that violate rules
- B. The rules will validate and apply to new and existing accounts
- C. There is no need to create cross-validation rules if Dynamic Combination Creation Allowed is not enabled for your chart of accounts instance
- D. The rules validate and apply to new accounts only
- E. You need to run the Cross-Validation Rules process to list and optionally disable combinations that violate rules
Answer: B,E
Explanation:
The two true statements regarding cross-validation rules are that you need to run the Cross-Validation Rules process to list and optionally disable combinations that violate rules, and that the rules will validate and apply to new and existing accounts. The Cross-Validation Rules process is a scheduled process that identifies existing account combinations that violate cross-validation rules and optionally disables them. You can run this process after defining or modifying cross-validation rules to ensure data integrity. The cross-validation rules will validate and apply to new and existing accounts, as they are enforced whenever an account combination is created or updated. The rules do not apply to new accounts only, as they also apply to existing accounts. There is no need to run the Cross-Validation Rule Violations process, as this is not a supported option. There is no need to create cross-validation rules if Dynamic Combination Creation Allowed is not enabled for your chart of accounts instance, as this is not a relevant factor. Dynamic Combination Creation Allowed is an option that determines whether users can create new account combinations on the fly or only use predefined combinations. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Chart of Accounts 12
NEW QUESTION # 68
You want to be notified of anomalies in certain account balances in real time. What is the most efficient way to do this?
- A. Use Account Inspector
- B. Perform an account analysis online
- C. Create an Account Group using Account Monitor
- D. Open a Smart View file saved on your desktop
Answer: C
NEW QUESTION # 69
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.)
- A. You have an unrealized exchange loss recorded.
- B. There is no unrealized exchange gain or loss calculated.
- C. You have an unrealized exchange gain recorded.
- D. The original journal entry in Euros is updated.
- E. The original journal entry in Euros remains the same.
Answer: A,C
Explanation:
The two true statements for the resulting revaluation run are that you have an unrealized exchange gain recorded and you have an unrealized exchange loss recorded. Revaluation is a process that adjusts foreign currency balances to reflect current exchange rates at period end. Revaluation creates journal entries to record unrealized exchange gains or losses on foreign currency balances based on revaluation rates defined for each currency. In this scenario, you have a balance on the Accounts Payable Liability Account of 100,000 Euros which is equivalent to USD 136,550 at month end. The month end exchange rate for revaluation is 1 Euro = 1.3755 USD. Therefore, after revaluation, your balance on the Accounts Payable Liability Account will be USD 137,550 (100,000 x 1.3755). This means you have an unrealized exchange gain of USD 1,000 (137,550 - 136,550) on your Accounts Payable Liability Account because your liability in foreign currency has decreased in terms of your ledger currency due to exchange rate fluctuations. Revaluation will create a journal entry to debit your Accounts Payable Liability Account by USD 1,000 and credit your Unrealized Exchange Gain Account by USD 1,000 to record this gain. The original journal entry in Euros is not updated by revaluation, as revaluation only creates new journal entries to adjust foreign currency balances in terms of ledger currency based on revaluation rates. There is no unrealized exchange gain or loss calculated by revaluation, as revaluation does calculate unrealized exchange gains or losses on foreign currency balances based on revaluation rates.
NEW QUESTION # 70
You need to define multiple allocation rules as efficiency as possible.
Which three components can be reused across allocation rules? (Choose three.)
- A. Run Time Prompts (RTP)
- B. RuleSets
- C. Point of View (POV)
- D. Formulas
Answer: A,B,D
NEW QUESTION # 71
You want to monitor the close process of all your financial subledgers and ledgers. How can you quickly obtain this information?
- A. Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period
- B. Use Close Monitor in General Accounting Dashboard
- C. Use the Manage Accounting Periods page to view the status of all subledgers and ledgers
- D. Run Closing Status reports
Answer: B
Explanation:
"Close Monitor provides a centralized place to monitor and manage your close process across subledgers and ledgers. You can view the status of each subledger and ledger period, drill down to subledger details, and take action on open periods." Therefore, this is the best way to quickly obtain information about the close process of all your financial subledgers and ledgers.
NEW QUESTION # 72
You just submitted the Accounting Configuration. What two things must happen before you can enter journals? (Choose two.)
- A. A Data Access Set with full read/write access to the ledger is automatically created
- B. You must re-deploy the chart of accounts
- C. You must define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration
- D. You must assign the job role and data security context to each user
Answer: A,D
Explanation:
you must assign the job role and data security context to each user after you submit the Accounting Configuration. This enables users to access the ledger and perform tasks based on their roles. Therefore, option D is correct. A Data Access Set with full read/write access to the ledger is automatically created after you submit the Accounting Configuration. This allows users to enter and post journals to the ledger. Therefore, option B is correct. Option A is incorrect because you don't need to re-deploy the chart of accounts after you submit the Accounting Configuration. Option C is incorrect because you don't need to define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration. A Data Access Set is automatically created for you.
NEW QUESTION # 73
Your customer has a large number of legal entities. The legal entity values are defined in the company segment which represents the primary balancing segment. They want to easily create eliminating entries for their intercompany activity. What would you recommend?
- A. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment
- B. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the intercompany rules to define
- C. There is no need to define an intercompany segment. You can track the intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner
- D. Define an intercompany segment in the chart of accounts. The Intercompany module and the Intercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment which the balancing segment value of the legal entity with which you are trading
Answer: D
Explanation:
According to Oracle documentation2, Oracle's recommended approach to easily create eliminating entries for intercompany activity when you have a large number of legal entities is to define an intercompany segment in the chart of accounts. The Intercompany module and the Intercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading. Therefore, option A is correct. Option B is incorrect because you do need to define an intercompany segment to easily create eliminating entries for intercompany activity. Option C is incorrect because you don't need to qualify the intercompany segment as the second balancing segment. You only need to qualify it as an intercompany segment. Option D is incorrect because you don't want to track the intercompany trading partner using distinct intercompany receivable/payable natural accounts. You want to use a separate intercompany segment for that purpose.
NEW QUESTION # 74
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. Use HCM's Enterprise Structure Configurator (ESC) first
- B. Deploy your chart of accounts
- C. Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies
- 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
Answer: A,B,C
Explanation:
According to Oracle documentation1, you should do the following things when you are implementing a multipillar implementation of both HCM Cloud and ERP Cloud: Deploy your chart of accounts, use HCM's Enterprise Structure Configurator (ESC) first, and use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies. Therefore, options A, B, and D are correct. Option C is incorrect because you should create your chart of accounts in the following order: value sets, COA structure instance, and then assign values to the value sets. Option E is incorrect because you should use the Rapid Implementation spreadsheet when creating your chart of accounts, not your enterprise structure.
NEW QUESTION # 75
In which two ways can your users customize the Springboards and Work Areas to suit their individual working styles? (Choose two.)
- A. Users have very little control their Springboards and Work Areas; they can only resize columns
- B. They can format each table by hiding and showing columns, moving columns, and resizing columns
- C. They can use Personalization to move and remove regions from those pages
- D. They can have the System Administration customize pages for them using Page Composer
Answer: B,C
NEW QUESTION # 76
Which AMX builder method is most effective in routing the journals to the Accounting Manager when his subordinate, The General Accountant, enters a journal?
- A. Management Chain approval
- B. Dynamic Approval Groups
- C. Approval Groups
- D. Cost center based approval
- E. Supervisory level approval
Answer: E
NEW QUESTION # 77
Journal Description Rules are assigned to Subledger Journal Entry Rule Sets.
What are the other three subcomponents of a Subledger Journal Entry Rule Set? (Choose three.)
- A. Chart of Accounts
- B. Journal Line Rules
- C. Accounting Date
- D. Supporting Reference
- E. Account Rules
Answer: B,D,E
Explanation:
According to Oracle documentation3, the subcomponents of a Subledger Journal Entry Rule Set are Journal Line Rules, Account Rules, and Supporting Reference. A Subledger Journal Entry Rule Set defines how subledger journal entries are created for each event class and event type. A Journal Line Rule defines how subledger journal lines are created for each event class and event type. An Account Rule defines how accounts are derived for each journal line. A Supporting Reference stores additional information for journal lines. Therefore, options C, D, and E are correct. Option A is incorrect because Accounting Date is not a subcomponent of a Subledger Journal Entry Rule Set. Option B is incorrect because Chart of Accounts is not a subcomponent of a Subledger Journal Entry Rule Set.
NEW QUESTION # 78
You want to process multiple allocations at the same time. What feature do you use?
- A. General Ledger journal entries
- B. RuleSets
- C. Point of View (POV)
- D. Formulas
Answer: B
NEW QUESTION # 79
You are defining intercompany balancing rules that are applied to a specific source and category, such as payable and invoices, or a specific intercompany transaction type, such as Intercompany Sales.
Which two statements are correct? (Choose two.)
- A. Set up a chart of accounts rule for every chart of accounts structure you have in order to ensure that Intercompany Balancing will always find a rule to use to generate balancing accounts.
- B. If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value.
- C. You can create a rule for all sources and categories by selecting the source "Other" and the category "Other".
- D. You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work.
Answer: B,C
Explanation:
you can define intercompany balancing rules at various levels, such as primary balancing segment, legal entity, ledger, and chart of accounts. The rules are evaluated in the order shown, so the primary balancing segment rule has the highest precedence and the chart of accounts rule has the lowest precedence. Therefore, option B is correct. You can also create a rule for all sources and categories by selecting the source "Other" and the category "Other"1. Therefore, option A is correct. Option C is incorrect because you don't need to define rules for every combination of specific categories and sources. If no rule is found for a specific combination, then the rule for all sources and categories is used1. Option D is incorrect because you don't need to set up a chart of accounts rule for every chart of accounts structure. You can set up a rule for a specific chart of accounts or for all charts of accounts1.
NEW QUESTION # 80
Which feature outside of reporting and analysis leverages the Essbase cube?
- A. journal entries and journal approval to create journals that update balances to the cube directly
- B. revaluations and translation to revalue and translate currencies stored in the Essbase cube
- C. calculation manager to perform allocations based on multidimensional balances and budgets
- D. period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync
Answer: B
NEW QUESTION # 81
What are the three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA)? (Choose three.)
- A. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications
- B. OTBI allows you to create custom reports from real-time transactional data against the database directly
- C. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance.
- D. Cloud customers can use both OTBI and OBIA
- E. OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications.
Answer: A,B,E
Explanation:
Reference:
OTBI and OBIA are two different types of business intelligence solutions offered by Oracle. OTBI is a real-time reporting tool that allows you to create custom reports and dashboards from transactional data in Oracle Cloud Applications. OTBI queries the database directly and does not require any data warehouse or ETL processes. OBIA is a prebuilt analytics solution that uses a universal data warehouse design and different adapters to connect to various source applications, such as E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications. OBIA provides a set of predefined reports and dashboards based on best practices and industry standards. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Use Oracle Transactional Business Intelligence (OTBI) 12
NEW QUESTION # 82
You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What so you need to enable?
- A. Drill Through in Grid Properties
- B. Report Functions
- C. Nothing. All report balances are drillable in all FR Studio reports
- D. Allow Expansion
Answer: A
Explanation:
Drill Through is a feature in Financial Reporting Studio that allows viewers of a report to drill down from report balances to the underlying transactions. To enable Drill Through, you need to select the Drill Through option in the Grid Properties dialog box and specify a data source connection and a drill-through definition3.
NEW QUESTION # 83
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To become an Oracle Financials Cloud: General Ledger 2022 Implementation Professional, candidates must pass the Oracle 1z0-1054-22 exam. 1z0-1054-22 exam consists of 60 multiple-choice questions that must be completed within 105 minutes. 1z0-1054-22 exam covers topics such as General Ledger configuration, chart of accounts, journal entries, balances, and financial reporting.
Oracle 1z0-1054-22 exam is ideal for professionals who are involved in the implementation and management of financials cloud solutions, including IT managers, financial analysts, finance managers, and consultants. Oracle Financials Cloud: General Ledger 2022 Implementation Professional certification exam is suitable for professionals who have prior experience with Oracle Financials Cloud: General Ledger and want to enhance their knowledge and skills to improve their career prospects.
Oracle 1z0-1054-22 certification exam is designed for professionals who wish to demonstrate their expertise in implementing and configuring Oracle Financials Cloud General Ledger solutions. Oracle Financials Cloud: General Ledger 2022 Implementation Professional certification exam covers a wide range of topics including creating and managing accounting structures, creating journals, managing budgets, and setting up accounting rules. 1z0-1054-22 exam is intended for professionals who have a solid understanding of accounting principles and financial concepts, and who have experience working with Oracle Financials Cloud General Ledger solutions.
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