1Z0-1054-22 Online Practice Questions and Answers
You have enabled budgetary control and have a control budget set to Advisory control level. For September 2016, your budget for a given account combination is $5,000 USD. In the same month, there is an approved requisition for that
account of $900 and an approved purchase order for that account of $2,500 USD. There is also a General Ledger adjustment journal entry for that account of $1,600 USD. An approved purchase order line of $400 USD is then cancelled. And
an invoice is matched to the purchase order for $2,100 USD.
Which two statements are true? (Choose two.)
A. No change
B. Purchase order encumbrance will be released for $2,100 USD
C. Funds reservation only happens for non-matched invoices, so the system will not reserve funds
D. As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016
E. The system always consumes budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation
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 use Personalization to move and remove regions from those pages
C. They can have the System Administration customize pages for them using Page Composer
D. They can format each table by hiding and showing columns, moving columns, and resizing columns
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. Journal Entry Rule Set
B. Event Type
C. Journal Line Rule
D. Journal Entry
E. Event Class
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 security context value of UK Ledger to the user/role combination.
B. Create a Data Access Set that allows access to the UK Ledger.
C. Assign the General Accounting Manager role to those users.
D. Assign the UK reference set to the user/role combination.
Which three objectives must be considered when designing the chart of accounts? (Choose three.)
A. Anticipate growth and maintenance needs as organizational changes occur
B. Effectively manage an organization's financial business
C. Try to use all 30 segments and 25 characters per segment because you cannot change it later
D. Consider implementing a single, global chart of accounts
E. Limit the number of segments to those you need today to reduce data entry
You are creating values for the chart of account value set that you are planning to use for the account segment within your Chart of Accounts.
You are not able to assign an Account Type. What is the reason for this?
A. You have not set the Allow Budgeting attribute for the value set
B. The Account Type qualifier has not been enabled when defining the value set
C. You are creating values before assigning the value set to the structure
D. You have not set the Allow Posting attribute for the value set
What are the two purposes of a secondary ledger? (Choose two.)
A. It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options
B. It should not be used when trying to meet local accounting requirements
C. It is used to main balances in a different currency only
D. It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting
E. It should only be used to main balances for processing performance
On which three occasions are Essbase balances updated? (Choose three.)
A. every time the tree version is published
B. every time you run the batch program called "Update Essbase Balances"
C. every time you open a new period
D. every time journals are posted to the general ledger
E. at report run-time
You want to automatically post journal batches imported form subledger sources to prevent accidental edits or deletions of the subledger sources journals, which could cause an out-of-balance situation between your subledgers and general ledger. Which two aspects should you consider when defining your AutoPost Criteria? (Choose two.)
A. Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process
B. Create your AutoPost criteria using minimal sources and categories
C. Include all of your subledger sources in the AutoPost CriteriA. Divide up criteria sets by subledger source only if you need to schedule different posting times
D. Schedule your AutoPost Criteria set to run during off-peak hours only
Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)
A. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product
B. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects
C. Each product has its own Intercompany Accounting feature that needs to be configured separately
D. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals