Free Access Oracle.1Z0-1054-21.v2022-07-31.q81 Practice Test (Page 2)

Question 1

The current implementation project covers Financials (with Fixed Assets and Expenses) with operations planned in three countries (USA, Italy, and India). a Which three labels are required when designing the chart of account structure for the Project.

A.Cost center

B.Natural Account _

C.Secondary Balancing

D.Intercompany Segment -

E.Primary Balancing

Question 2

During implementation, a consultant accidentally designated the cost center segment as the natural account. Values have already been assigned and journals have been posted.
Select the process that allows you to change the qualifier back to cost center qualifier.

A.Create a new chart of accounts.

B.Delete the segment and create a new segment with the correct qualifier.

C.Change and save the segment qualifier.

D.Delete the chart of accounts and create a new one.

Question 3

What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose Two)

A.You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously.

B.General Ledger balances are multidimensional, allowing you to perform robust reporting and analysis.

C.You No longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of Accounts.

D.Integrating with third-party systems is easier because the Essbase cube provides chart of Accounts mapping rules.

Question 4

Theexpense account of airfare was erroneously assigned to the account type "Liability". Which method should you choose to fix the problem?

A.Run the "Update Balance Cube Chart of the Accounting Dimension" program

B.Deactivate the value

C.Run the "Correct Misclassified Account"program

D.Run the "Segment Value Inheritance" program

Question 5

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.Use thespreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period

B.Create a manual journal that includes the eliminating entries, and then create a copy of the journal batch every period

C.There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management

D.Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period

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