Ace 1z0-1054-22 Certification with 133 Actual Questions [Q25-Q42]

NO.25 Your customer is planning to have three balancing segments for generating balance sheets and income statements at cost center segment and program segment levels.
Which two recommendations would you give your customer? (Choose two.)

Additional intercompany rules will need to be defined for the two additional balancing segments

Every journal where debits do not equal credits across the three balancing segments will result in the system generating extra journal lines to balance the entry

Additional intercompany balancing and clearing options will need to be defined

When entering journals manually, the customer will need to make sure that debits and credits are equal across all balancing segments because the system will not automatically balance the journal

NO.26 In which two ways can your users personalize the Springboards and Work Areas to suit their individual working styles? (Choose two.)

They can format certain tables by hiding and showing columns, moving columns, and resizing columns

Users have very little control configuring their Springboards and Work Areas; they can only resize columns

They can have the System Administrator configuring pages for them using Page Composer

They can use “+” under the Apps section of the News Feed homepage

NO.27 Which two statements are true regarding how Intercompany Balancing Rule are defined? (Choose two.)

All ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules.

You can only define balancing rules for different journals’ sources. You cannot define balancing rules for different journal categories.

You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types.

You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment values.ys

NO.28 When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two).

Financial Reporting Studio

Smart View

Oracle Financial Statement Generator

Financial Reporting Center

NO.29 Before implementing Financials Cloud, your customer used to manually reconcile their intercompany payables and receivables accounts. What is a more automated approach to do this?

Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances

In Financials Cloud, you must manually reconcile your intercompany account balances

Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances

Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance

Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances

NO.30 Your customer wants to use a clearing company to automatically balance intercompany entries.
Which three statements are true regarding the use of a clearing company value? (Choose three.)

You must map legal entities to balancing segment values in order to use a clearing company

If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger

Clearing companies are not supported

If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity

If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal

NO.31 Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries. What is Oracle’s recommended practice when implementing a new chart of accounts? How many segments and what segment qualifiers should be used?

Define three segments for the company, department, and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.

Define four segments for the company, department, natural account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, and intercompany segment, respectively.

Define three segments for the company, department, and natural account. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, respectively.

Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.

NO.32 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.)

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

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

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

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

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

NO.33 In the implementation project, there is a requirement to add new transactional attributes to the journal approval notification.
Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.)

The layout Template

Output type

The Style Template

The Sub Template

The Data Model

NO.34 Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)

Each product has its own Intercompany Accounting feature that needs to be configured separately.

In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals.

Intercompany Balancing Rules are defined centrally and applied across Financials and Projects.

Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product.

NO.35 You need to define multiple allocation rules as efficiency as possible.
Which three components can be reused across allocation rules? (Choose three.)

Point of View (POV)

Formulas

Run Time Prompts (RTP)

RuleSets

NO.36 The expense account of airfare was erroneously assigned to the account type “Liability”. Which method should you choose to fix the problem?

Deactivate the value

Run the “Segment Value Inheritance” program

Run the “Correct Misclassified Account” program

Run the “Update Balance Cube Chart of the Accounting Dimension” program

NO.37 Most of the accounting entries for transactions form 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?

Journal Entry Rule Set

Event Type

Journal Line Rule

Journal Entry

Event Class

NO.38 You entered a journal and the client is asking for the following information:
The current account balance
What the future account balance will be if the journal is approved and posted How will you get this information?

Query the account balance online

Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances

View the Projected Balances region in the Create Journals page

Run a Trial Balance before and after posting

NO.39 The budget managers specify the budget accounts they want to monitor and decide on percentage threshold of funds availability. Where must you define the details while analyzing budget balances in the Budget Account Monitor page?

Budget Controller

Budget Group

Account Group

Budget Account Group

Application Development Framework Desktop Integration (ADFdi)

NO.40 When will Intercompany processing 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

when the journal is not balanced by the primary balancing segment value (BSV)

when the journal is balanced by the primary BSV but not by second or third BSV

when the journal is balanced by second balancing segment value

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. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives – Configure and Process Intercompany 12

NO.41 You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?

Two tree versions were not defined

An Audit process needs to be successfully performed before a tree version can be set to Active

Accounting Configuration was not submitted

Chart of accounts was not deployed

NO.42 When working with Essbase, versions of the tree hierarchy as defined in the General Ledger Cloud are not available in the Essbase balances cube. What should you do to correct this situation?

Make sure to flatten the rows of the tree version

Make sure the tree is active

Make sure the tree version was published successfully

Redeploy the chart of accounts