The Best Practice Test Preparation for the 1Z0-1054-26 Certification Exam
1Z0-1054-26 Exam Dumps, Practice Test Questions BUNDLE PACK
NEW QUESTION # 15
You have redesigned your chart of accounts and need to update your existing cross-validation rules. There is a requirement for new rules; some simply need to be updated and others need to be deleted.
What is the most efficient way to achieve this?
- A. by using the Manage Cross-Validation Rules page.
- B. by using Cross-Validation Rules Import file-based data import (FBDI).
- C. by creating Cross-Validation Rules desktop-integrated spreadsheet.
- D. by using the Manage General Ledger Security page.
Answer: B
Explanation:
According to Oracle documentation1, the most efficient way to update your existing cross-validation rules when you have redesigned your chart of accounts is to use Cross-Validation Rules Import file-based data import (FBDI). FBDI enables you to import cross-validation rules from a spreadsheet template into General Ledger. You can use FBDI to create new rules, update existing rules, or delete rules. Therefore, option C is correct. Option A is incorrect because using the Manage General Ledger Security page does not enable you to update cross-validation rules. Option B is incorrect because creating Cross-Validation Rules desktop-integrated spreadsheet does not enable you to update cross-validation rules. Option D is incorrect because using the Manage Cross-Validation Rules page does not enable you to update cross-validation rules efficiently.
According to Oracle documentation2, you should create a Data Access Set that allows access to the UK Ledger to allow users with the General Accountant job role to access the UK Ledger. A Data Access Set is a security feature that defines the ledgers and balancing segment values that a user can access. You can assign Data Access Sets to users or roles using the Manage Data Access for Users page. Therefore, option B is correct. Option A is incorrect because assigning the security context value of UK Ledger to the user/role combination does not enable access to the ledger. Option C is incorrect because assigning the General Accounting Manager role to those users does not enable access to the ledger. Option D is incorrect because assigning the UK reference set to the user/role combination does not enable access to the ledger.
NEW QUESTION # 16
Which two allow access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis?
(Choose two.)
- A. Business Process Management Workspace
- B. Scheduled Processes
- C. Universal Content Management Workspace
- D. Enterprise Performance Management Workspace
- E. Reports and Analytics
Answer: D,E
Explanation:
The two options that allow access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis are Reports and Analytics and Enterprise Performance Management Workspace. Reports and Analytics is a tool that allows users to access, create, edit, and share reports and analyses using data from various sources, including Oracle Transactional Business Intelligence. Users can access Reports and Analytics from various pages in Oracle Fusion Applications or from Oracle Fusion Cloud Service Console. Enterprise Performance Management Workspace is a tool that allows users to access, create, edit, and share reports and analyses using data from various sources, including Oracle Transactional Business Intelligence. Users can access Enterprise Performance Management Workspace from Oracle Fusion Cloud Service Console or from a web browser. Universal Content Management Workspace is not an option that allows access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis, as this is a tool that allows users to manage documents and other digital content in Oracle Fusion Applications. Business Process Management Workspace is not an option that allows access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis, as this is a tool that allows users to monitor and manage business processes in Oracle Fusion Applications. Scheduled Processes is not an option that allows access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis, as this is a tool that allows users to submit, monitor, and manage scheduled processes in Oracle Fusion Applications. Reference: Oracle FinancialsCloud: General Ledger 2022 Implementation Professional Objectives - Use Oracle Transactional Business Intelligence (OTBI) 12
NEW QUESTION # 17
Your company wants to change theCumulative Translation Adjustment (CTA) accountto record gains/losses from varying currency rates.
What steps must you perform to achieve this objective without causing data corruption?
- A. Open the Ledgers page and update the CTA account and then rerun Translation for all periods required.
The system will automatically update the translated balances. - B. Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.
- C. Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use.
- D. Query the Translation journals and delete all of them, then change the CTA account in the Ledger page, and rerun Translation for all periods required.
Answer: B
NEW QUESTION # 18
You are creating a Multitier Intercompany agreement and haven chosen to use a clearing organization in Financial Route.
How many clearing organizations can be involved in Financial Route?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: B
NEW QUESTION # 19
You have decided to use the Journal Attachments Audit feature to monitor and adhere to compliance policies.
Journals created from which mode are eligible for auditing?
- A. Journals created using FBDI templates
- B. Journals created using Journal Import
- C. Journals created in the user interface
- D. Journals created using ADFdi
Answer: C
Explanation:
The Journal Attachments Audit feature is intended to monitor journal attachments that are added through the journal user interface. This control is compliance-focused because journal preparers and approvers often attach supporting evidence, backup schedules, approval documents, or audit justification directly while creating or editing journals online. FBDI, ADFdi, and Journal Import are primarily data-load or integration methods for journal creation and are not the eligible source mode for this specific attachment audit behavior. The key point is that the audit feature is scoped to journals where attachments are maintained interactively in the UI. Therefore, the correct answer is journals created in the user interface. This is the only option that aligns with the functional purpose of Journal Attachments Audit in General Ledger compliance monitoring.
NEW QUESTION # 20
You have a requirement to override the Period End or Period Average rate that is used for translating several accounts at month end. How can you achieve this?
- A. Use the Manage Revaluations task to create a revaluation definition for those accounts.
- B. Use the Manage Historical Rates task to assign a historical rate or amount to those accounts.
- C. Use the Translate Balances process parameters to specify the rate or amount for those accounts.
Answer: B
NEW QUESTION # 21
Which two statements are true if a journal description rule is defined with sources?
- A. The description rule can only be assigned to the header or line level.
- B. You cannot assign journal description rules to sources.
- C. The sources must also be assigned to the accounting event class that is assigned to the journal entry rule set.
- D. The description rule can only be assigned to the journal line level.
- E. The description rule may be assigned to either the header or line level, or to both.
Answer: C,E
NEW QUESTION # 22
Your UK operation has a requirement to maintain its ledger balances in USD to facilitate reporting to the parent company. A balance-level reporting currency has been created and linked to the primary ledger.
How are balances transferred to the reporting currency?
- A. By running the final Create Accounting process at month end
- B. By running the Journal Import process
- C. By running the Translate General Ledger Account Balances process
- D. By running the Revalue Balances process at month end
Answer: C
Explanation:
A balance-level reporting currency stores translated balances rather than copied journals or subledger- level accounting detail. To populate balances into that reporting currency, Oracle General Ledger uses the Translate General Ledger Account Balances process. Revaluation is incorrect because revaluation adjusts foreign currency-denominated balances within a ledger and records unrealized gain or loss.
Create Accounting is a subledger accounting process and does not transfer balances to a balance-level reporting currency. Journal Import creates journals from interface data; it does not perform balance translation. For balance-level reporting currencies, Oracle documentation states that balances are transferred by running the Translate General Ledger Account Balances process, which restates ledger- currency account balances into the reporting currency.
NEW QUESTION # 23
When will Intercompany processing balance a journal using the accounts identified here for the UK Ledger?
- A. when there is a many-to-many journal and you want to use a clearing company
- B. when the journal is balanced by the primary BSV but not by second or third BSV
- C. when the journal is not balanced by the primary balancing segment value (BSV)
- D. when the journal is balanced by second balancing segment value
Answer: B
Explanation:
Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary balancing segment value (BSV) but not by second or third BSV. A BSV is a segment in the chart of accounts that identifies a legal entity or business unit for which financial statements are prepared and balanced. A primary BSV is required for every ledger and is used to balance journal entries within a ledger. A secondary or tertiary BSV is optional and is used to balance journal entries across different dimensions other than the primary BSV, such as fund or region. Intercompany processing is a feature that enables intercompany transactions between different legal entities or business units within the same enterprise. Intercompany processing uses intercompany balancing rules to generate intercompany receivables and payables accounts for cross-ledger or cross-BSV journals. Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary BSV but not by second or third BSV, as this indicates that there is an intercompany transaction between different legal entities or business units within the UK Ledger that requires intercompany balancing. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when there is a many-to-many journal and you want to use a clearing company, as this is a scenario that involves multiple legal entities or business units across different ledgers that requires a separate clearing company ledger to perform intercompany balancing. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is not balanced by the primary BSV, as this is an invalid scenario that violates the accounting rules and prevents posting of the journal. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by second balancing segment value, as this is an incomplete scenario that does not specify whether the journal is also balanced by primary and third BSV.Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure and Process Intercompany12
NEW QUESTION # 24
What type ofusermust be defined before you can create anImplementation Project?
- A. None. The Fusion Applications Superuser, FAADMIN, has full access to create an Implementation Project.
- B. A full-time employee that has the FSM Superuser role assigned
- C. Implementation Users
- D. None. The OIM system administrator user ID, XELSYSADM, which is assigned by the person provisioning the system, has full access.
- E. All roles that will be used throughout the implementation
Answer: A
NEW QUESTION # 25
What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?
- A. Mapping Sets
- B. Transaction Objects
- C. Accounting Attributes
- D. Event Entities
Answer: B
NEW QUESTION # 26
Which two are predefined roles in General Ledger?
- A. General Accountant
- B. General Accounting Manager
- C. General Accounting Supervisor
- D. General Accounting Clerk
Answer: A,B
NEW QUESTION # 27
You are planning to create an Income Statement using Smart View.
Which Smart View tool should you use for this?
- A. Query Designer
- B. Ad Hoc Analysis
- C. Smart Queries
- D. Smart Slices
Answer: B
Explanation:
To create an Income Statement using Smart View, you should use Ad Hoc Analysis. Ad Hoc Analysis is a Smart View tool that allows users to view and analyze financial data from General Ledger Cloud using Essbase cubes. Users can create reports such as Income Statements or Balance Sheets by selecting dimensions and members from Essbase cubes and retrieving data into Excel worksheets. Users can also perform actions such as drilling down, pivoting, zooming in or out, or expanding or collapsing members
NEW QUESTION # 28
Which two can you use to import geographical data?
- A. File-based data import (FBDI)
- B. SQL Data loader
- C. ADF desktop integration
- D. Geographical data providers
Answer: A,D
NEW QUESTION # 29
Which Two predefined job roles automatically have the assigned privileges to access Financial Reporting Center?
- A. General Accounting Manager
- B. Budget Manager
- C. Intercompany Manager
- D. Account Receivables Manager
- E. Payables Supervisor
Answer: A,B
NEW QUESTION # 30
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