Online 1Z0-1054-24 Practice Test

Question 1

Your enterprise structure has one ledger and two business units. Business unit one wants to enable budgetary control for Requisitioning only on Procure-to-Pay Business Functions and business unit two wants to enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions. Which two statements are correct? (Choose two.)

Options :

A : While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing

B : While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning

C : Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit

D : While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving

E : Define budgetary control at ledger level and only encumbrance control at the business units

F : Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving

Answer: A,D

Question 2

Your customer uses Financials Cloud, Projects, Inventory and Procurement.

Which two statements are true regarding intercompany accounting for these products? (Choose two.)

Options :

A : Each product has its own Intercompany Accounting feature that needs to be set up separately

B : Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals

C : Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management

D : They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub

Answer: B,C

Question 3

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?

Options :

A : Use Smart View, which is an Excel Add-on

B : Use Account Inspector that automatically creates graphs on financial balances

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

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

Answer: D

Question 4

The Accounting Manager requests that a schedule be created to automatically post journals from subledgers at different times. Which journal attribute should you use to set the automatic posting criteria?

Options :

A : Journal Source

B : Journal Category

C : Journal Batch

D : Journal Description

Answer: A

Question 5

You are setting up Close Monitor and want to view high-level profit and loss results for each ledger. What should you associate with the ledger set to achieve this?

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