Online Access Free 1Z0-1054-26 Practice Test

Your customer is a financial institution that needs to maintain average daily balances (ADB).
Which statement is true about this functionality in Oracle Fusion Cloud applications?

• A.Average balances are stored for both subledger and general ledger balances.
• B.When using ADB, you must define a transaction calendar and assign it to your ledger.
• C.Average balances are maintained for both actual and budget balances.

What is the key function of currency translation?

• A.Adjusting the accounted value of foreign currency-denominated balances according to current conversion rates.
• B.Measuring current financial transactions that are denominated or stated in an accounting currency into the functional currency of the entity.
• C.Expressing the functional currency financial results of a subsidiary in the entity's reporting or consolidated currency.
• D.Creating unrealized gain or loss journals for foreign currency transactions.

You have a requirement to have invoices generated for certain Intercompany transactions.
Where do you enable invoicing?

• A.the transaction category
• B.the transaction batch
• C.the transaction type
• D.the transaction source

Your current Oracle Fusion Cloud implementation project includes the configuration of multiple ledgers per country and the setting up of accounting automation to drive journal processing efficiencies. In a particular country (which has a primary, secondary, and multiple reporting currency ledgers), there is a requirement to exclude the country ' s journal processing from accounting automation.
If you enter a ledger set (including all ledgers for that country) on the Exclusion tab of Manage Accounting Automation, what is removed from accounting automation processing?

• A.The primary and reporting ledgers only
• B.The primary, secondary, and reporting currency ledgers
• C.Just the primary ledger
• D.The secondary and reporting currency ledgers only

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

• A.Intercompany Segment
• B.Natural Account
• C.Secondary Balancing
• D.Primary Balancing
• E.Cost center