[Mar 31, 2023] Latest Questions 1z0-1054-22 Guide to Prepare Free Practice Tests [Q11-Q34]

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[Mar 31, 2023] Latest Questions 1z0-1054-22 Guide to Prepare Free Practice Tests

Reliable 1z0-1054-22 Dumps Questions Available as Web-Based Practice Test Engine

Oracle 1z0-1054-22 Exam Syllabus Topics:

Topic	Details
Topic 1	Process intercompany reconciliations Configuring Enterprise and Financial Reporting Structures
Topic 2	Manage Intercompany Balancing Rules and Additional Intercompany and Clearing Options Explain Oracle Transactional Business Intelligence
Topic 3	Manage General Ledger Security Describe intercompany balancing Manage Accounting Calendars
Topic 4	Explain the Financial Reporting Center and available reporting tools Manage Chart of Accounts Security
Topic 5	Create Allocations and Periodic Entries Processing Intercompany Transactions
Topic 6	Describe the General Accounting Dashboard and Work Areas Describe Smart View accounting inquiry and analysis
Topic 7	Manage Reporting using Financial Reporting Web Studio Explain the journal approval setup

NO.11 On which three occasions are Essbase balances updated? (Choose three.)

every time the tree version is published

every time you run the batch program called “Update Essbase Balances”

every time you open a new period

every time journals are posted to the general ledger

at report run-time

NO.12 You want to enter budget data in General Ledger Cloud. Which method is not supported?

Entering budget journals

Application Development Framework Desktop Integration (ADFdi)

Direct budget balance updates from a Financial Statement in Smart View

File-based Data Import

NO.13 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?

Both are Partially Reserved

The purchase order is Liquidated and the invoice is Partially Reserved

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

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

Both are reserved

The purchase order is Open and the invoice is Validated

NO.14 You operate in a country whose unstable currency makes it unsuitable for managing your day-to-day business. As a consequence, you need to manage your business in a more stable currency while retaining the ability to report in the unstable local currency. What would be your recommendation when defining ledgers?

Run Revaluation as often as you need to the more stable currency and report on the more stable currency’s balances

Run Revaluation to translate into Statistical Currency

Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency

Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency

NO.15 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.)

The Account Rule’s conditions are not defined

The Account Rule’s chart of accounts has no account values assigned

The Account Rule is defined with a different chart of accounts form the Journal Entry Rule Set

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

NO.16 The Delete Translated Balances process provides the ability to completely reset translations in the event that significant changes are made to the accounting configuration.
Once the deletion process completes, what additional process must you run?

Submit the Update General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.

Submit the Create General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.

Submit the Create Currency Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.

Submit the Create Scenario Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.

NO.17 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?

Drill Through in Grid Properties

Nothing. All report balances are drillable in all FR Studio reports

Allow Expansion

Report Functions

NO.18 You want to process multiple allocations at the same time. What feature do you use?

RuleSets

Formulas

General Ledger journal entries

Point of View (POV)

NO.19 You are creating financial statements and want to have charts, such as a bar graph, automatically inserted to improve the understanding financial results. How would you achieve this?

Use Smart View, which is an Excel Add-on

Use Account Inspector that automatically creates graphs on financial balances

When viewing the report, download to Excel and use Excel’s Charting features to create your bar graph

When designing your financial statement using Financial Report (FR), embed a chart into your report

NO.20 You want to be notified of anomalies in certain account balances in real time. What is the most efficient way to do this?

Create an Account Group using Account Monitor

Use Account Inspector

Open a Smart View file saved on your desktop

Perform an account analysis online

NO.21 You need to create a boardroom ready month-end reporting package for an upcoming Audit Committee meeting. You have 10 Financial Reports that you want to share with executives and auditors that are nicely formatted.
What are the two Oracle recommended ways to accomplish this? (Choose two.)

Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee

Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book

Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet

Use a report batch to run reports at a specific time to create a set of snapshot reports

Use OTBI to create multiple reports that you save to a folder that only the users can access

NO.22 You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?

Two tree versions were not defined

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

Accounting Configuration was not submitted

Chart of accounts was not deployed

NO.23 Before implementing Financials Cloud, your customer used to manually reconcile their intercompany payables and receivables accounts. What is a more automated approach to do this?

Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances

In Financials Cloud, you must manually reconcile your intercompany account balances

Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances

Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance

Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances

NO.24 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?

You have not set the Allow Budgeting attribute for the value set

The Account Type qualifier has not been enabled when defining the value set

You are creating values before assigning the value set to the structure

You have not set the Allow Posting attribute for the value set

NO.25 You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment.
What is Oracle’s recommended method to define this chart of accounts?

Define the company segment only and qualify it as both the primary balancing segment and intercompany segment

Define two different charts of accounts

Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance

Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level

NO.26 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.)

You can create a rule for all sources and categories by selecting the source “Other” and the category “Other”.

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.

You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work.

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.

NO.27 Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation. What feature can you use to be proactively notified of account anomalies in a more timely manner?

Account Monitor

Financial Reports with Embedded charts

Smart View

Account Inspector and its charts

NO.28 You have exported data from your budgeting application into a .csv file.
What should you use to load that data into General Ledger?

The budget journal spreadsheet

Enterprise Resource Budget Integrator

File Based Data Import

Application Developer Framework Desktop Integrator

NO.29 What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availability? (Choose two.)

The purchase order is canceled or finally closed or rejected without performing any receipt or invoice

When the purchase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the extent of the unreceived amount

The requisition reserved successfully undergoes amendment and is rejected in the reapproval

When the requisition is set to accrue at period end and partially billed and then canceled or finally closed, encumbrance goes back to the budget to the extent of the unbilled amount

NO.30 Your Financial Analyst needs to interactively analyze General Ledger balances with the ability to drill down to originating transactions. Which three features facilitate this? (Choose three.)

Sunburst reports

Online Transactional Business Intelligence

Account Inspector

Account Monitor

Smart View

NO.31 What are the two purposes of a secondary ledger? (Choose two.)

It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options

It should not be used when trying to meet local accounting requirements

It is used to main balances in a different currency only

It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting

It should only be used to main balances for processing performance

NO.32 You just submitted the Accounting Configuration. What two things must happen before you can enter journals? (Choose two.)

You must re-deploy the chart of accounts

A Data Access Set with full read/write access to the ledger is automatically created

You must define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration

You must assign the job role and data security context to each user

NO.33 The Create Accounting program could not determine the debit side of the journal entry.
Which component of Subledger Accounting determines the debit or credit side of a journal entry?

Journal Balances Rule

Journal Entry Rule Set

Journal Line Rule

Journal Accounting Rule

Account Rule

NO.34 What is the most efficient way to add a new year to the accounting calendar?

Import the periods from a spreadsheet

The application automatically populates the next year when you open the first period of a new fiscal year

Add the periods manually

Use the Add Year button