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NEW QUESTION # 66
What are two uses of theColumn FlatteningandRow Flatteningfeatures?
- A. Optimize parent/child relationships.
- B. View information for runtime performance.
- C. Set the status of a tree to active.
- D. Create additional versions of a tree.
- E. Verify correctness of trees.
Answer: A,B
NEW QUESTION # 67
Which three factors should you consider while specifying Intercompany System options?
- A. Whether to allow receivers to reject intercompany transactions
- B. Automatic or manual batch numbering and the maximum transaction amount
- C. Whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies
- D. Automatic or manual batch numbering and the minimum transaction amount
- E. Approvers who will approve intercompany transactions
Answer: A,C,D
Explanation:
Intercompany System options are used to set up intercompany processing rules at the enterprise level, based on your specific business needs. They help you standardize and simplify transaction processing, minimize disputes, and reduce administrative costs. The three factors that you should consider while specifying Intercompany System options are:
Automatic or manual batch numbering and the minimum transaction amount: These options help you control the numbering and the size of intercompany transactions. You can choose to use system generated or manual batch numbering, and you can specify a minimum threshold amount for intercompany transactions to prevent immaterial transactions. To use the minimum transaction amount option, you must also select an Intercompany currency option.
Whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies: This option helps you manage the currency risk and the conversion rate fluctuations for intercompany transactions.
You can choose to standardize transaction processing by selecting an Intercompany currency, which means that all intercompany transactions created in the Intercompany module are entered in this currency.
Alternatively, you can choose to allow intercompany transactions in local currencies, which means that intercompany transactions can be entered in the ledger currency of the sender or the receiver.
Whether to allow receivers to reject intercompany transactions: This option helps you handle the approval and dispute resolution process for intercompany transactions. You can choose to allow receivers to reject intercompany transactions if they disagree with the sender's information, such as the amount, the account, or the date. If you enable this option, you must also specify the rejection reason and the notification details for the sender.
Intercompany System Options
Implementing Enterprise Structures and General Ledger
Implement General Ledger
NEW QUESTION # 68
You are implementing amultipillarimplementation of bothHCM CloudandERP Cloud. You are implementingERP first, followed byHCM Cloud. You want to ensure yourledgers and chart of accounts are correctly defined.
What should you do? (Choose three.)
- A. Use HCM's Enterprise Structure Configurator (ESC) first.
- B. Create your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets.
- C. Deploy your chart of accounts.
- D. Use the Rapid Implementation spreadsheet when creating your enterprise structure.
- E. Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies.
Answer: A,B,D
NEW QUESTION # 69
Budgetary control for accounts5020and5021has a budget of$90,000 USDeach for the year2012. The accounts also have balances onobligation of $10,000 USDfor each and anexpenditure of $20,000 USDfor each.
AFund of $50,000 USDis available for account5020only. You have run theEncumbrance Year End Carry Forward processfor obligation from the last period of the year2012to the first period of year2013.
Which statement is true?
- A. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forward.
- B. If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.
- C. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances.
- D. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward.
Answer: A
NEW QUESTION # 70
Manage Chart of Accounts Structure and Instance
Scenario
Your client is implementing Oracle Fusion Cloud Financials. The decision is to have a 5-segment Chart of Accounts: Company, Cost Center, Account, Product, and Intercompany. You are working in the General Ledger team and will be responsible for creating the Chart of Accounts Structure and Instance for the Chart of Accounts.
Task 1
Create a Chart of Accounts Structure and Instance for the following Chart of Accounts:
Note:
Prefix all your setups with 07, where 07 is your candidate ID
There is one balancing segment.
Choose the appropriate segment labels.
. For the purpose of this test there is no need to deploy the flexfield.
. Valid code combinations should be added to the Code Combination table automatically.
Shorthand aliases will not be implemented.
. Accept the defaults for the instance segments.
Answer:
Explanation:
See the Explanation for the complete Solution.
Explanation:
Here are the steps you need to follow:
* Navigate to the Setup and Maintenance work area and search for the task Manage Chart of Accounts Structures.
* Click on the Create icon to create a new Chart of Accounts Structure. Enter the following information:
* Structure Code: 07COA
* Structure Name: 07 Chart of Accounts
* Description: Chart of Accounts for candidate 07
* Number of Segments: 5
* Click on the Next button to define the segments. Enter the following information for each segment:
* Segment Number: 1
* Segment Name: Company
* Value Set Code: 07Corporate Company
* Value Set Name: 07 Corporate Company
* Maximum Size: 3
* Balancing: Yes
* Segment Label: Company
* Segment Number: 2
* Segment Name: Cost Center
* Value Set Code: 07Corporate Cost Center
* Value Set Name: 07 Corporate Cost Center
* Maximum Size: 4
* Balancing: No
* Segment Label: Cost Center
* Segment Number: 3
* Segment Name: Account
* Value Set Code: 07Corporate Account
* Value Set Name: 07 Corporate Account
* Maximum Size: 8
* Balancing: No
* Segment Label: Natural Account
* Segment Number: 4
* Segment Name: Product
* Value Set Code: 07Corporate Product
* Value Set Name: 07 Corporate Product
* Maximum Size: 3
* Balancing: No
* Segment Label: Product
* Segment Number: 5
* Segment Name: Intercompany
* Value Set Code: 07Corporate Company
* Value Set Name: 07 Corporate Company
* Maximum Size: 3
* Balancing: No
* Segment Label: Intercompany
* Click on the Next button to review the summary and click on the Save and Close button to save the Chart of Accounts Structure.
* Navigate to the Setup and Maintenance work area and search for the task Manage Chart of Accounts Structure Instances.
* Click on the Create icon to create a new Chart of Accounts Structure Instance. Enter the following information:
* Structure Code: 07COA
* Structure Name: 07 Chart of Accounts
* Description: Chart of Accounts for candidate 07
* Chart of Accounts Structure: 07COA
* Enabled: Yes
* Allow Dynamic Inserts: Yes
* Click on the Next button to review the summary and click on the Save and Close button to save the Chart of Accounts Structure Instance.
You have successfully created a Chart of Accounts Structure and Instance for the given scenario. For more information, you can refer to the following resources:
* Chart of Accounts Structures and Instances
* Chart of Accounts Components
* Minimum Steps For Financial Enterprise Structures Configuration
* Overview of Creating and Configuring Chart of Accounts Structure and Instances
NEW QUESTION # 71
You are defining an income statement report using Financial Reporting Web Studio. Users of the report need to be able to analyze the balances directly from the report.
What should you enable to allow this?
- A. Drill Down in Report Functions
- B. Drill Through in Grid Properties
- C. Allow Expansion in Report Functions
Answer: B
NEW QUESTION # 72
What is the key function of currency revaluation?
- A. Adjusting the accounted value of foreign currency denominated balances according to current conversion rates
- B. Measuring the current financial transactions that are denominated or stated in an accounting (local) currency into the functional currency of the entity
- C. Converting the accounted balances from one currency to another target currency
Answer: A
NEW QUESTION # 73
After completing a business requirement mapping session, it has been decided that only single Currency Journals will be entered for this Company.
To achieve this requirement, on which two objects should you enable "Limit a Journal to a Single Currency"?
(Choose two.)
- A. Journal sources
- B. Journal lookup codes
- C. Ledger options
- D. Journal category
- E. Profile option
Answer: A,C
Explanation:
To achieve the requirement of only single currency journals being entered for this company, you should enable "Limit a Journal to a Single Currency" on both ledger options and journal sources. Ledger options are settings that apply to a specific ledger, such as journal processing options, currency options, and average balance processing options. Journal sources are identifiers that indicate where a journal originated, such as manual entry, subledger accounting, or import. You can enable "Limit a Journal to a Single Currency" on both ledger options and journal sources using the Specify Ledger Options and Manage Journal Sources tasks in Setup and Maintenance. This will enforce single currency journals for journals entered on the Create Journal page and for journals that are imported. You do not need to enable "Limit a Journal to a Single Currency" on journal lookup codes, as these are codes that indicate the status of a journal, such as Entered, Posted, or Reversed. You do not need to enable "Limit a Journal to a Single Currency" on journal category, as this is an attribute that classifies journals by purpose or function, such as Purchase Invoices or Allocations.
You do not need to enable "Limit a Journal to a Single Currency" on profile option, as this is a setting that affects the behavior of an application or feature for a user or responsibility. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Ledgers 12
NEW QUESTION # 74
Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)
- A. The report includes Ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.
- B. You can only drill down to the general ledger journal and then from there to the subledger journal entry.
- C. The report displays all clearing company balancing lines for a period.
- D. The report displays the intercompany receivables and intercompany payables balances in summary for a period.
- E. The report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
Answer: A,E
Explanation:
According to the Oracle documentation12, the Intercompany Reconciliation Report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison (option C). The report also includes ledger balancing lines generated when the primary balancing segment value is in balance, but either the second or third balancing segment values are not (option B). Option A is incorrect because you can drill down to the general ledger journal, subledger accounting entry, and source receivables or payables transaction2. Option D is incorrect because the report displays the intercompany receivables and intercompany payables balances in summary for a period, and any differences between them1. Option E is incorrect because the report does not display clearing company balancing lines2.
NEW QUESTION # 75
You are using Oracle General Ledger (GL), Oracle Payables, and Oracle Receivables and you want to prevent the closure of the GL period if the corresponding subledger period is not closed. How do you achieve this?
- A. Opt in to the Prevent Period Close option for the offering.
- B. You don't have to do anything; this option is enabled automatically.
- C. Set the ORA_GLJNCLD_STRICT_PRD_CLOSE profile option to yes.
- D. Set the relevant option on the Specify Ledger Options page.
Answer: D
Explanation:
You can prevent the closure of a General Ledger accounting period if the accounting period for any of the corresponding subledgers is still open, or if incomplete accounting entries or transactions exist for the period.
This can help ensure an effective period close process that validates all transactions are complete and aren't held up during the close. To enable this feature, you need to set the relevant option on the Specify Ledger Options page for each primary ledger. The option is called Prevent General Ledger Period Closure When Open Subledger Periods Exist and it is located in the Period Close section. You can also specify which subledgers to include or exclude from the validation, except for Assets, which is automatically excluded by default. References:
How to Prevent a General Ledger Period from Closing When Open Subledger Periods Exist Period Close Components Review: Prevent General Ledger Period Closure When Open Subledger Periods Exist
NEW QUESTION # 76
Which Two predefined job roles automatically have the assigned privileges to access Financial Reporting Center?
- A. Budget Manager
- B. General Accounting Manager
- C. Intercompany Manager
- D. Payables Supervisor
- E. Account Receivables Manager
Answer: A,B
NEW QUESTION # 77
Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)
- A. The report includes Ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.
- B. You can only drill down to the general ledger journal and then from there to the subledger journal entry.
- C. The report displays all clearing company balancing lines for a period.
- D. The report displays the intercompany receivables and intercompany payables balances in summary for a period.
- E. The report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
Answer: A,E
Explanation:
According to the Oracle documentation12, the Intercompany Reconciliation Report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison (option C). The report also includes ledger balancing lines generated when the primary balancing segment value is in balance, but either the second or third balancing segment values are not (option B). Option A is incorrect because you can drill down to the general ledger journal, subledger accounting entry, and source receivables or payables transaction2. Option D is incorrect because the report displays the intercompany receivables and intercompany payables balances in summary for a period, and any differences between them1. Option E is incorrect because the report does not display clearing company balancing lines2.
NEW QUESTION # 78
You have been tasked with creating user-defined infolets to monitor key financial metrics. However, you cannot see the option to create infolets in the Infolet repository. What are the two requirements to be able to see the Create option?
- A. You must create a dashboard.
- B. You must publish a sandbox.
- C. You must activate Page Composer.
- D. You must define your OTBl analyses.
- E. You must be in a sandbox.
Answer: C,E
NEW QUESTION # 79
Which two are valid Data Access Set types? (Choose two.)
- A. Read Only access
- B. Primary Balancing Segment Value
- C. Full access
- D. Full Ledger
- E. Read and Write access
Answer: A,C
Explanation:
The two valid Data Access Set types are Full access and Read Only access. A Data Access Set is a security feature that defines the access level that users have to ledger data, such as balances, budgets, or journals. A Data Access Set type is an attribute that determines the type of access that users have to ledger data within a Data Access Set. The two valid Data Access Set types are Full access and Read Only access. Full access allows users to view and enter data for ledger data within a Data Access Set. Read Only access allows users to view but not enter data for ledger data within a Data Access Set. Full Ledger is not a valid Data Access Set type, but an option that determines whether a Data Access Set grants access to all balancing segment values in a ledger or only specific balancing segment values. Primary Balancing Segment Value is not a valid Data Access Set type, but an attribute that identifies the legal entity or business unit for which financial statements are prepared and balanced. Read and Write access is not a valid Data Access Set type, but an alternative term for Full access. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Ledgers 12
NEW QUESTION # 80
In which two ways can your users personalize the Springboards and Work Areas to suit their individual working styles? (Choose two.)
- A. Users have very little control configuring their Springboards and Work Areas; they can only resize columns
- B. They can have the System Administrator configuring pages for them using Page Composer
- C. They can format certain tables by hiding and showing columns, moving columns, and resizing columns
- D. They can use "+" under the Apps section of the News Feed homepage
Answer: C,D
Explanation:
According to Oracle documentation2, your users can personalize the Springboards and Work Areas to suit their individual working styles in these two ways: They can format certain tables by hiding and showing columns, moving columns, and resizing columns, and they can use "+" under the Apps section of the News Feed homepage. Springboards and Work Areas are user interface components that enable users to access tasks and information relevant to their roles. Users can customize these components by adding or removing tiles, changing layouts, filtering data, and formatting tables. Therefore, options A and D are correct. Option B is incorrect because users have more control over configuring their Springboards and Work Areas than just resizing columns. Option C is incorrect because users do not need to have the System Administrator configuring pages for them using Page Composer.
NEW QUESTION # 81
The intercompany accountants on the cloud project are trying to reconcile intercompany balances using the latest intercompany reconciliation report.
However, they have some concerns about the information presented in the report and want you to clarify the content in the standard reconciliation report.
What is included in the intercompany reconciliation report?
- A. It displays the intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction.
- B. It displays all clearing company balances for the period.
- C. It displays ledger balancing lines generated when the primary balancing segment (BSV) is in balance but not the second or third BSVs.
Answer: A
NEW QUESTION # 82
You need to have invoices generated for certain intercompany transactions.
Where do you enable invoicing?
- A. Manage Intercompany Organizations
- B. Manage Intercompany Transaction Types
- C. Manage Intercompany Receivables Assignment
- D. Manage Intercompany System Options
Answer: B
NEW QUESTION # 83
You are setting upClose Monitor, which comprises aledger set hierarchy definition.
Which two components of theenterprise structureshould the ledgers in the ledger set share?
- A. Chart of Accounts and Business Units
- B. Accounting Calendar
- C. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method
- D. Legal Entities, Business Units, and Chart of Accounts
- E. Chart of Accounts
Answer: B,E
NEW QUESTION # 84
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