Online Access Free 1Z1-1004 Practice Test

You set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. Which two actions should you now perform? (Choose two.)

• A.Define Supporting References with balances
• B.Define Journal Conversion Rules that include subledgers in order to transfer subledger transactions
• C.Ensure that the Accounting Calendar and Currency are the same as the Primary Ledger
• D.Define Journal Conversion Rules that exclude subledgers
• E.Assign a Subledger Accounting Method to the secondary ledger

Your customer has a large number of legal entities. The legal entity values are defined in the company segment which represents the primary balancing segment. They want to easily create eliminating entries for their intercompany activity. What would you recommend?

• A.There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the intercompany rules to define
• B.Define an intercompany segment in the chart of accounts. The Intercompany module and the Intercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment which the balancing segment value of the legal entity with which you are trading
• C.There is no need to define an intercompany segment. You can track the intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner
• D.Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment

You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results. What is Oracle's recommended practice when this occurs?

• A.Enter another adjusting journal entry in the target currency to true up the balances
• B.Rerun Revaluation and then rerun Translation
• C.Translate only the adjusting journal entry
• D.Rerun Translation and then reconsolidate your results

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

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