Online Access Free 1Z1-1004 Practice Test

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?

• A.Query the account balance online
• B.View the Projected Balances region in the Create Journals page
• C.Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances
• D.Run a Trial Balance before and after posting

You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for $300 is matched to the purchase order. What will be the funds status of the purchase order and the invoice?

• A.The purchase order is Partially Liquidated and the invoice will be Reserved
• B.Both are Partially Reserved
• C.The purchase order is Partially Liquidated and the invoice is Partially Reserved
• D.The purchase order is Open and the invoice is Validated
• E.Both are reserved
• F.The purchase order is Liquidated and the invoice is Partially Reserved

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

• A.General ledger balances are multidimensional, allowing you to perform robust reporting and analysis
• B.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
• 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
• E.Posting performance is much faster

Your customer wants to have balance sheets and income statements for its cost center and program segments.
That is, the customer wants to have three balancing segments.
Which two recommendations would you give your customer? (Choose two.)

• A.Define Ledger balancing options to balance by second and third balancing segments
• B.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
• C.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
• D.Additional intercompany rules will need to be defined for the two additional balancing segments

The expense 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.Run the "Segment Value Inheritance" program
• C.Deactivate the value
• D.Run the "Correct Misclassified Account" program