Oracle Financials Cloud: General Ledger 2021 Implementation Essentials : 1Z0-1054-21 exam

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Oracle 1Z0-1054-21 Exam Syllabus Topics:

Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

1. There is a business requirement for a subsidiary company to report to the parent company basis.
Given that:
The subsidiary is in another country from the parent.
There is no requirement to have daily balances.
The objective is to minimize the data stored in the reporting currency.
Which data conversion level should you recommend?

A) Balances Level
B) Adjustment only level
C) Subledger level
D) Spreadsheet level
E) Journal Level

2. Your customer wants to create fully balanced balance sheets for the Company, Line of Business, and Product segments for both financial and management reporting. What is Oracle's recommended method for doing this?

A) Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting
B) Create three segments for the Company, Line of Business, and Product segments and qualify them as primary balancing segment, second, and third balancing segments, respectively
C) Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions
D) Create two segments where the first segment represents the concatenation of Company and Line of Business, and then enable secondary tracking for the Product segment

3. 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 does Oracle's recommended method to define this chart or accounts?

A) Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance.
B) Define two different charts of accounts.
C) Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level.
D) Define the company segment only and qualify it as both the primary balancing segment andintercompany segment.

4. 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) Report Functions
B) Nothing. All report balances are drillable in all FR Studio reports
C) Allow Expansion
D) Drill Through in Grid Properties

5. All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting. What is Oracle's recommended approach to performing consolidations?

A) Use General Ledger's Financial Reporting functionality to produce reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment
B) Define multiple ledgers for consolidation and report on ledger set
C) Use Oracle Hyperion Financial Management for this type of complex consolidation
D) Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.

Solutions: