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1z0-1054-24 Oracle Financials Cloud: General Ledger 2024Implementation Professional Questions and Answers

Questions 4

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.)

Options:

A.

The original journal entry in Euros is updated.

B.

There is no unrealized exchange gain or loss calculated.

C.

The original journal entry in Euros remains the same.

D.

You have an unrealized exchange gain recorded.

E.

You have an unrealized exchange loss recorded.

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Questions 5

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?

Options:

A.

A value for the budget scenario is not created.

B.

Transfer Budget Balances to Budget Cubes has not been run.

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.

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Questions 6

Which two statements are true if a journal description rule is defined with sources?

Options:

A.

The description rule may be assigned to either the header or line level, or to both.

B.

The description rule can only be assigned to the journal line level.

C.

You cannot assign journal description rules to sources.

D.

The description rule can only be assigned to the header or line level.

E.

The sources must also be assigned to the accounting event class that is assigned to the journal entry rule set.

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Questions 7

You are using account hierarchies for reporting and allocations.

Which two statements are true about these types of hierarchies? (Choose two.)

Options:

A.

You can have only one version of a hierarchy published to the Essbase cube at any time.

B.

Hierarchies for reporting and allocations do not have to be published to Essbase cubes.

C.

Hierarchies for reporting and allocations have to be published to Essbase cubes.

D.

Child values in these hierarchies can belong to only one parent.

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Questions 8

You want your sales representatives to be able to find points of interest, such as customers, while out on business. What should you enable to achieve this?

Options:

A.

HZ_GEO_IDENTIFIER_SUBTYPE Lookup

B.

Geocoding

C.

Validation

D.

Address Cleansing

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Questions 9

Your customer has alarge number of legal entities. Thelegal entity valuesare defined in thecompany segment and the primary balancing segment.

They want to easily createeliminating entriesfor theintercompany activity.

What should you recommend?

Options:

A.

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.

B.

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.

C.

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 you define.

D.

Define an intercompany segment in the chart of accounts. The Intercompany module and theIntercompany 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.

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Questions 10

What type ofusermust be defined before you can create anImplementation Project?

Options:

A.

Implementation Users

B.

All roles that will be used throughout the implementation

C.

A full-time employee that has the FSM Superuser role assigned

D.

None. The OIM system administrator user ID, XELSYSADM, which is assigned by the person provisioning the system, has full access.

E.

None. The Fusion Applications Superuser, FAADMIN, has full access to create an Implementation Project.

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Questions 11

You want to achievemulti-step cascading allocations. Which feature do you use?

Options:

A.

RuleSets

B.

Formulas

C.

General Ledger journal entries

D.

Point of View (POV)

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Questions 12

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?

Options:

A.

Smart Slices

B.

Smart Queries

C.

Account Groups

D.

Query Designer

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Questions 13

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?

Options:

A.

Ledger-level rule

B.

Legal entity-level rule

C.

Primary balancing segment rule

D.

Chart of accounts rule

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Questions 14

Which two statements are true regarding the export/import of reports?

Options:

A.

To view errors encountered during the export or import Process, you must use SQL queries to obtain that data because no reports exist.

B.

A set of reports lists user names, suppliers, and customers that have been exported/imported.

C.

The export/import reports are available only for Fusion Customer Relationship Management.

D.

A set of reports are provided for both exported and imported setup data to validate the export/import processes and setup data.

E.

Reports on setup data can be used to compare and analyze how the data might have changed over time.

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Questions 15

What are two uses of the Column Flattening and Row Flattening features? (Choose two.)

Options:

A.

Set the status of a tree to active.

B.

Create additional versions of a tree.

C.

Verify correctness of trees.

D.

View information for runtime performance.

E.

Optimize parent/child relationships.

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Questions 16

You have just been hired to add a new subsidiary to the corporate enterprise structure in the customer's Oracle Fusion Cloud.

The subsidiary will capture transaction information from subledgers in the local currency and under International Financial Reporting standards (IFRS) and local GAAP for corporate reporting requirements, which will report via the use of a secondary ledger.

The secondary ledger is used only at period end; there is no need to have real-time transaction or Journal details. It is noted that most of the accounting between IFRS and Corporate GAAP is similar.

Which conversion level would you recommend to keep a thin secondary ledger?

Options:

A.

Journal ledger

B.

Adjustment only

C.

Balance level

D.

Sub-ledger level.

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Exam Code: 1z0-1054-24
Exam Name: Oracle Financials Cloud: General Ledger 2024Implementation Professional
Last Update: Mar 28, 2025
Questions: 89

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