Online Access Free 1Z1-1054 Practice Test

Your customer requires physical invoices to be generated in Payables Cloud and Receivables Cloud for the Intercompany payables and receivables transactions. Which two statements are correct with regards to setting this up? (Choose two.)

• A.You must assign the corresponding Receivables and Payables Business Units
• B.You can only associate one Intercompany Organization per Legal Entity
• C.You only need to assign the Legal Entity and Organization Contact
• D.You must have implemented Payables Cloud and Receivables Cloud

Your Financial Analyst needs to interactively analyze General Ledger balances with the ability to drill down to originating transactions. Which three features facilitate this? (Choose three.)

• A.Account Inspector
• B.Account Monitor
• C.Smart View
• D.Sunburst reports
• E.Online Transactional Business Intelligence

Encumbrance accounting is enabled for your ledger. An encumbrance journal dated 3/15/16 was recorded for a purchase order.
The invoice was entered on 5/5/16, but the invoice accounting date was 4/20/16. The encumbrance journal for liquidating the purchase order encumbrance is dated 5/5/16.
What is causing this?

• A.The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule
• B.The subledger accounting option is set to system date
• C.The system date was set up under the encumbrance accounting Default Date Rule
• D.The current transaction accounting date was set up under the encumbrance accounting Default Date Rule
• E.The actual accounting date was set up under the encumbrance accounting Default Date Rule

What are the two purposes of a secondary ledger? (Choose two.)

• A.It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting
• B.It is used to main balances in a different currency only
• C.It should not be used when trying to meet local accounting requirements
• D.It should only be used to main balances for processing performance
• E.It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options

How can your Accounting Manager expedite journal processing during the time-critical month-end close?

• A.by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)
• B.by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Other
• C.by running the Journals report using Business Intelligence Publisher
• D.by using the Close Status monitor to drill down on the close status across ledgers