Online Access Free 1Z0-1004 Practice Test

Your customer has many eliminating entries to eliminate intercompany balances. The General Ledger does not include a purpose-built Consolidation feature. How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?

• A.There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management
• B.Use the spreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period
• C.Create a manual journal that includes the eliminating entries, and then create a copy of the journal batch every period
• D.Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period

Which three objectives must be considered when designing the chart of accounts? (Choose three.)

• A.Effectively manage an organization's financial business
• B.Consider implementing a single, global chart of accounts
• C.Try to use all 30 segments and 25 characters per segment because you cannot change it later
• D.Anticipate growth and maintenance needs as organizational changes occur
• E.Limit the number of segments to those you need today to reduce data entry

What is the most efficient way to add a new year to the accounting calendar?

• A.The application automatically populates the next year when you open the first period of a new fiscal year
• B.Import the periods from a spreadsheet
• C.Use the Add Year button
• D.Add the periods manually

Account combinations can be created and/or modified using the Import Account Combinations file-based data import (FBDI).
Which represents the appropriate upload steps?

• A.Submit the Import Account Combinations process, then insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template.
• B.Insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.
• C.Submit the Import Account Combinations process, then insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template.
• D.Insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.

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?

• A.In Financials Cloud, you must manually reconcile your intercompany account balances
• B.Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances
• C.Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances
• D.Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance
• E.Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances