Oracle 1Z0-1054-21 : Oracle Financials Cloud: General Ledger 2021 Implementation Essentials

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Oracle 1Z0-1054-21 Exam Syllabus Topics:

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

1. Which repot show you differences between your subledger balances and General Ledger balances?

A) General Ledger Financial Statements and the Accounts Payable and Accounts Receivables Invoice Registers
B) Payables Trial Balance, Receivables Trial Balance, and General Ledger Trial Balance reports
C) Payables and Receivables Aging Reports with the General Ledger Trial Balance report
D) Payables to Ledger Reconciliation Report and the Receivables to Ledger Reconciliation Report

2. Your customer wants to secure their primary balancing segment values to prevent employees of one company from entering or viewing data of another company. You only need this for General Ledger balances and reporting. What two security features should you use?

A) Data Access Sets using an Access Set Type of Primary Balancing Segment
B) Balancing Segment Value Assignment to Legal Entities
C) Segment Value Security
D) Cross-Validation Rules

3. The current implementation project covers Financials (with Fixed Assets and Expenses) with operations planned in three countries (USA, Italy, and India). a Which three labels are required when designing the chart of account structure for the Project.

A) Intercompany Segment -
B) Secondary Balancing
C) Primary Balancing
D) Cost center
E) Natural Account _

4. You need to define multiple allocation rules as efficiently as possible, Which three components can be reused across allocation rules?

A) Formulas
B) Run Time Protocols (RTP)
C) RuleSets
D) Point of View (POV)

5. Your Customer has three legal entities, 50 Departments, and 10,000 natural accounts. They use intercompany entries. What is Oracle's recommended best practice when implementing: a new chart of accounts? How many segments and what segment qualifiers should be used?

A) Define Three segments for the company, department, and natural accounts. The qualifiers should be primary balancing segment, intercompany segment, cost center segment, and natural account segment, respectively
B) Define four segments for the company, department, natural account and intercompany segment. The qualifiers should be primary balancing segment , cost center segment, natural account segment and intercompany segment respectively
C) Define Three segments for the company, department, and natural accounts, the qualifiers should be primary balancing segment, cost center segment, and natural account segment, respectively
D) Define five segments for the company, department, natural account, intercompany segment and future segment. The qualifiers should be primary balancing segment , cost center segment, natural account segment, intercompany segment an no qualifier respectively.

Solutions: