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Oracle 1Z0-1054-21 Exam Syllabus Topics:

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

1. You are implementing Segment Value Security rules. Which two statements are true? (Choose two.)

A) You can use hierarchies to define rules
B) The Segment Value Security rules do not take effect until you assign the rules to users and products
C) When you enable or disable Segment Value Security, you do not need to redeploy your chart of Accounts
D) When you enable Segment Value Security on a segment, users will not be able to access any values until you grant access to users and products

2. You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results. What is Oracle's recommended practice when this occurs?

A) Rerun Revaluation and then rerun Translation
B) Rerun Translation and then reconsolidate your results
C) Enter another adjusting journal entry in the target currency to true up the balances
D) Translate only the adjusting journal entry

3. You want to prevent intercompany transactions from being entered during the last day of the close.
What should you do?

A) Freeze the Intercompany journal source in General Ledger
B) Close all subledger periods
C) Close the General Ledger period in the Manager Accounting Periods page
D) Close Intercompany periods in Fusion Intercompany

4. Your customer wants to have balance sheets and income statements for its cost center and program segments. That is, the customer wants to have three balancing segments.
Which two recommendations would you give your customer? (Choose two.)

A) Every journal where debits do not equal credits across the three balancing segments will result in the system generating extra journal lines to balance the entry
B) When entering journals manually, the customer will need to make sure that debits and credits are equal across all balancing segments because the system will not automatically balance the journal
C) Additional intercompany rules will need to be defined for the two additional balancing segments
D) Define Ledger balancing options to balance by second and third balancing segments

5. our Financial Analyst needs to interactively analyze General Ledger balances with the ability to drill down to originating transactions. Which three features facilitate this? (Choose three)

A) Account Monitor
B) Account Inspector
C) Smart View
D) Sunburst Report
E) OTBI

Solutions: