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Oracle 1Z0-1054-21 Exam Syllabus Topics:

Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

1. Your customer is planning to have three balancing segments for generating balance sheets and income statements at cost center segment and program segment level Which two recommendations would you give your customer?

A) Additional intercompany balancing and clearing options will need to be defined. Z
B) When entering journals manually, the customer will need to make sure that debits and credits
C) Additional intercompany rules will need to be defined for the two additional balancing segment
D) Every journal where debits do not equal credits across the three balancing segments will need

2. Your Customer has three legal entities, 50 Departments, and 10,000 natural accounts. They use intercompany entries. What is Oracle's recommended best practice when implementing: a new chart of accounts? How many segments and what segment qualifiers should be used?

A) Define Three segments for the company, department, and natural accounts, the qualifiers should be primary balancing segment, cost center segment, and natural account segment, respectively
B) Define five segments for the company, department, natural account, intercompany segment and future segment. The qualifiers should be primary balancing segment , cost center segment, natural account segment, intercompany segment an no qualifier respectively.
C) Define Three segments for the company, department, and natural accounts. The qualifiers should be primary balancing segment, intercompany segment, cost center segment, and natural account segment, respectively
D) Define four segments for the company, department, natural account and intercompany segment. The qualifiers should be primary balancing segment , cost center segment, natural account segment and intercompany segment respectively

3. Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses is Australia, New Zealand, and Singapore with a ledger in each country with a Corporate Chart of Account instance that has four segments. Which three statements are true regarding the creation of a control budget?

A) The control Budget structure has all the chart of accounts segments as budget segments.
B) A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand and Singapore.
C) A Control Budget can allow override rules only if the control level is absolute.
D) Control Budget are always absolute to generate encumbrance accounting.
E) A Control Budget Can be associated with a different calendar than accounting calendar.

4. You need to integrate Fusion Accounting Hub with external source systems used for Billing. Identify the step that is not correct when implementing this integration.

A) Determine the accounting impact of transactions
B) Create the accounting in the source system and then import the journal entries into subledger accounting
C) Analyze external system transactions
D) Capture accounting events

5. 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) Primary Balancing
B) Secondary Balancing
C) Natural Account _
D) Intercompany Segment -
E) Cost center

Solutions: