1Z0-1054-20 Online Practice Questions and Answers

You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?

A. Two tree versions were not defined

B. Chart of accounts was not deployed

C. Accounting Configuration was not submitted

D. An Audit process needs to be successfully performed before a tree version can be set to Active

You are defining an income statement report using Financial Reporting Studio. Users of the report need to be able to analyze the balances directly from the report.

What should you enable to allow this?

A. Nothing. All report are drillable

B. Drill Through in Grid Properties

C. Drill Down in Report Functions

D. Allow Expansion in Report Functions

Your company has two legal entities in the US (Balancing Segment Values [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 and still configure the ledgers correctly?

A. You should assign a balancing segment value to identify each legal entity in the US Ledger and assign the balancing segment values to the ledger in the UK and France.

B. You should assign a balancing segment value to identify each legal entity in the US ledger.

C. You should assign a balancing segment value to identify each legal entity in each ledger.

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

While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created.

Which two options explain that? (Choose two.)

A. The Account Rule's conditions are not defined

B. The Account Rule's chart of accounts has no account values assigned

C. The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set

D. The Account Rule is defined with a different chart of accounts from the Journal Entry Rule Set

You set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger.

Which two actions should you now perform to prevent duplicate accounting entries? (Choose two.)

A. Go to Manage Subledger Accounting Options, locate your created secondary ledger and disable the subledger accounting enabled for each component.

B. Define Supporting References with balances

C. Define Journal Conversion Rules that exclude subledgers

D. Ensure that the Accounting Calendar and Currency are the same as the Primary Ledger

E. Define Journal Conversion Rules that include subledgers to transfer subledger transactions

You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for $300 is matched to the purchase order. What will be the funds status of the purchase order and the invoice?

A. The purchase order is Open and the invoice is Validated

B. Both are reserved

C. Both are Partially Reserved

D. The purchase order is Partially Liquidated and the invoice is Partially Reserved

E. The purchase order is Liquidated and the invoice is Partially Reserved

F. The purchase order is Partially Liquidated and the invoice will be Reserved

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. The rules validate and apply to new accounts only

B. You need to run the Cross-Validation Rules process to list and optionally disable combinations that violate rules

C. You need to run the Cross-Validation Rule Violations process to allow rules to apply to existing combinations that violate rules

D. There is no need to create cross-validation rules if Dynamic Combination Creation Allowed is not enabled for your chart of accounts instance

E. The rules will validate and apply to new and existing accounts

In Financials Cloud, which three reporting tools can be used to access General Ledger balances? (Choose three)

A. Smart View

B. Financial Reporting Studio

C. Application Composer

D. Oracle Transactional Business Intelligence

E. Oracle Enterprise Repository

You want to define an allocation rule where segment values are constants for rules and formulas.

What should you do?

A. Use the Point of View (POV) tab of the Allocation Wizard

B. Only specify segment values in formulas

C. Never use the Outer Point of View (POV)

D. Specify Run Time Prompts (RTP)

You entered a journal and the client is asking for the following information: The current account balance The future account balance if the journal is approved and posted

How will you get this information?

A. Run a Trial Balance before and after posting

B. Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances

C. View the Projected Balances region in the Create Journals page

D. Query the account balance online