1Z0-1054-20 Online Practice Questions and Answers

When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two).

A. Financial Reporting Studio

B. Smart View

C. Oracle Financial Statement Generator

D. Financial Reporting Center

Which AMX builder method is most effective in routing the journals to the Accounting Manager when his subordinate, The General Accountant, enters a journal?

A. Approval Groups

B. Dynamic Approval Groups

C. Supervisory level approval

D. Management Chain approval

Which two statements are TRUE regarding the Balances Cubes in General Ledger? (Choose two.)

A. They are updated automatically when the General Ledger period is opened

B. New dimensions can be added to a General Ledger Balances Cube

C. They are updated automatically when the Revaluation process is run

D. A new Balances Cube is created for a unique combination of Ledger and Currency

E. They are updated automatically when the Translation process is run

You have set up a supporting reference with balances to capture revenue by account manager. Which option should you use to view the supporting reference balances?

A. an Account Group

B. an OTBI analysis

C. a SmartView analysis

D. General Ledger inquiries and reports

You set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger.

Which two actions should you now perform to prevent duplicate accounting entries? (Choose two.)

A. Go to Manage Subledger Accounting Options, locate your created secondary ledger and disable the subledger accounting enabled for each component.

B. Define Supporting References with balances

C. Define Journal Conversion Rules that exclude subledgers

D. Ensure that the Accounting Calendar and Currency are the same as the Primary Ledger

E. Define Journal Conversion Rules that include subledgers to transfer subledger transactions

You want to prevent intercompany transactions from being entered during the last day of the close.

Assuming Intercompany and General Ledger use the same calendar what should you do?

A. Close the General Ledger period in the Manage Accounting Periods page

B. Close Intercompany periods in Oracle Intercompany

C. Close all intercompany subledger periods

D. Freeze the Intercompany journal source in General Ledger

You want to define an allocation rule where segment values are constants for rules and formulas.

What should you do?

A. Use the Point of View (POV) tab of the Allocation Wizard

B. Only specify segment values in formulas

C. Never use the Outer Point of View (POV)

D. Specify Run Time Prompts (RTP)

You need to create a boardroom ready month-end reporting package for an upcoming Audit Committee meeting. You have 10 Financial Reports that you want to share with executives and auditors that are nicely formatted.

What are the two Oracle recommended ways to accomplish this? (Choose two.)

A. Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee

B. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book

C. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet

D. Use a report batch to run reports at a specific time to create a set of snapshot reports

E. Use OTBI to create multiple reports that you save to a folder that only the users can access

Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation.

What feature can you use to be proactively notified of account anomalies in a more timely manner?

A. Financial Reports with Embedded charts

B. Smart View

C. Account Monitor

D. Account Inspector and its charts

You are creating values for the chart of account value set that you are planning to use for the account segment within your Chart of Accounts.

You are not able to assign an Account Type. What is the reason for this?

A. You have not set the Allow Budgeting attribute for the value set

B. The Account Type qualifier has not been enabled when defining the value set

C. You are creating values before assigning the value set to the structure

D. You have not set the Allow Posting attribute for the value set