Printable PDFOracle 1Z0-1054-20 dumps - 100% Pass Guarantee!
Vendor: Oracle
Certifications: Oracle Certifications
Exam Name: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials
Exam Code: 1Z0-1054-20
Total Questions: 55 Q&As ( View Details)
Last Updated: Mar 17, 2025
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1Z0-1054-20 Q&A's Detail
| Exam Code: | 1Z0-1054-20 |
| Total Questions: | 55 |
| Single & Multiple Choice | 55 |
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1Z0-1054-20 Online Practice Questions and Answers
Your company has a legal entity in the UK, US, and Canada. They can all share the same chart of accounts but are required to transact and report in their local currency.
What is the minimum number of ledgers you need and why?
A. One, because they can all share the same chart of accounts
B. Three, because each requires a different currency
C. Two, because the US and Canada can share the same ledger because they are in North America
D. Four, because the UK has statutory requirements and you will need a separate ledger for statutory reporting
Your customer has many eliminating entries to eliminate intercompany balances.
How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?
A. Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period.
B. There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management.
C. Create a manual journal that includes the eliminating entries, and then create a copy of the journal batch every period.
D. Use the spreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period.
Most of the accounting entries for transactions from your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.
At what level can you override the default accounting attribute assignment?
A. Event Type
B. Journal Line Rule
C. Journal Entry
D. Event Class
E. Journal Entry Rule Set
You want to achieve multi-step cascading allocations, which feature do you use?
A. RuleSets
B. Formulas
C. Point of View (POV)
D. General Ledger journal entries
What are the two benefits of having the Essbase cube embedded in Oracle General Ledger (GL)? (Choose two.)
A. You can access real-time results for reporting and analysis because the multidimensional balances are updated on journal posting
B. You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts
C. Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules
D. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis
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