Online 1Z0-1054-24 Practice Test

Question 1

The general accountant is trying to update the cost center for the Default Suspense Account in the Ledger

Options to match the cost center for the Rounding Account.

The rounding account is showing as 01-110-7699-00; however, 110 is not appearing in the List of Values for

the accountant to select in the Suspense Account.

What is the reason for this?

Options :

A : The general accountant does not have the Financials Application administrator role assigned and, therefore, has view-only privileges on this page

B : The general accountant has a segment value security rule assigned which restricts access to that cost center

C : There is a primary balancing segment attached to the legal entity of the primary ledger

D : A cross validation rule is in place to prevent the resulting combination from being created

Answer: D

Question 2

How do Cross Validation Rules (CVRs) handle existing violations in the Code Combinations Identification (CCID) table?

Options :

A : Nothing has changed. If you have an invalid account combination existing in the table, you must deactivate it to prevent further usage

B : CVRs are assigned to the end user role; therefore controlling what account code combination individuals can leverage in the General Ledger and the subledgers

C : CVRs only test new account combinations being inserted into the table. They ignore any invalid account combinations already existing in the table

D : If CVR determines that an invalid combination exists in the CCID table, it will automatically disable that account code combination.

Answer: C

Question 3

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?

Options :

A : Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances

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

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

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

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

Answer: D

Question 4

In which two ways can your users personalize the Springboards and Work Areas to suit their individual working styles? (Choose two.)

Options :

A : They can format certain tables by hiding and showing columns, moving columns, and resizing columns

B :

Users have very little control configuring their Springboards and Work Areas; they can only resize columns

C : They can have the System Administrator configuring pages for them using Page Composer

D : They can use “+” under the Apps section of the News Feed homepage

Answer: A,D

Question 5

What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)

Options :

A : Posting performance is much faster

B : Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules

C : General ledger balances are multidimensional, allowing you to perform robust reporting and analysis

D : You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously

E : You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts

Answer: C,D

EXPERTY DESIGNED 1Z0-1054-24 PRACTICE TEST