QUICK TIPS FOR EXAM SUCCESS USING ORACLE 1Z0-1054-24 QUESTIONS

Quick Tips for Exam Success using Oracle 1z0-1054-24 Questions

Quick Tips for Exam Success using Oracle 1z0-1054-24 Questions

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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q21-Q26):

NEW QUESTION # 21
What are thetwo possible reasonsforencumbrance created on the purchase orderto go back to thebudget or funds availability?

  • A. The purchase order is canceled or finally closed or rejected without performing any receipt or invoice.
  • B. The requisition reserved successfully undergoes amendment and is rejected in the reapproval.
  • C. When the purchase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the budget to the extent of the unreceived amount.
  • D. When the requisition is set to accrue at period end and partially billed and then canceled or finally closed, encumbrance goes back to the budget to the extent of the unbilled amount.

Answer: A,C


NEW QUESTION # 22
On a primary ledger in Use system options close section, the following field has been selected:
'Prevent General Ledger Period Close When Open Subledger Periods Exist'.
What three exceptions will prevent closing of the accounting period?

  • A. Pending Transaction in General Ledger Interface
  • B. Pending Intercompany Transactions
  • C. No pending transaction in the General Ledger Interface table
  • D. Intercompany Transactions are completed

Answer: A,B,D


NEW QUESTION # 23
You want your sales representatives to be able to find points of interest, such as customers, while out on business. What should you enable to achieve this?

  • A. HZ_GEO_IDENTIFIER_SUBTYPE Lookup
  • B. Validation
  • C. Geocoding
  • D. Address Cleansing

Answer: C

Explanation:
According to Oracle documentation1, you should enable geocoding to achieve the requirement of finding points of interest, such as customers, while out on business. Geocoding is the process of assigning geographic coordinates to a physical address. Geocoding enables you to use maps and location-based services to find and visualize points of interest. Therefore, option B is correct. Option A is incorrect because HZ_GEO_IDENTIFIER_SUBTYPE Lookup is not a feature that enables finding points of interest. Option C is incorrect because validation is not a feature that enables finding points of interest. Option D is incorrect because address cleansing is not a feature that enables finding points of interest.


NEW QUESTION # 24
An Oracle Fusion Cloud customer has a complex enterprise structure that includes multiple legal entities in multiple countries. To match the intercompany balancing requirements, all four levels of rules have been defined. In user testing, the business experts are asking which rule will be considered first when balancing an intercompany journal?

  • A. Ledger-level rule
  • B. Primary balancing segment rule
  • C. Legal entity-level rule
  • D. Chart of accounts rule

Answer: B

Explanation:
When balancing an intercompany journal, Oracle Fusion Cloud will first look for a primary balancing segment rule that matches the provider and receiver primary balancing segment values. If such a rule exists, it will be used to generate the intercompany receivables and payables accounts. If not, Oracle Fusion Cloud will look for a chart of accounts rule, then a legal entity-level rule, and finally a ledger-level rule. The primary balancing segment rule has the highest priority and the ledger-level rule has the lowest priority. References:
* Overview of Intercompany Balancing Rules
* Intercompany Balancing Rules
* Troubleshooting Guide For Intercompany Balancing
* Example of Generating Intercompany Receivables and Intercompany Payables Accounts


NEW QUESTION # 25
You want to automatically post journal batches imported from subledger sources to prevent accidental edits or deletions of the subledger sources journals, which could cause an out-of-balance situation between your subledgers and general ledger.
Which two aspects should you consider when defining your AutoPost Criteria?

  • A. Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process.
  • B. Schedule your AutoPost Criteria set to run during off-peak hours only.
  • C. Create your AutoPost criteria using minimal sources and categories.
  • D. Include all of your subledger sources in the AutoPost Criteria. Divide up criteria sets by subledger source only if you need to schedule different posting times.

Answer: A,D


NEW QUESTION # 26
......

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