1Z0-1054-24 ACTUAL EXAM & EXAM 1Z0-1054-24 DEMO

1z0-1054-24 Actual Exam & Exam 1z0-1054-24 Demo

1z0-1054-24 Actual Exam & Exam 1z0-1054-24 Demo

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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q20-Q25):

NEW QUESTION # 20
Which delivered role can access the full functionality of Functional Setup Manager?

  • A. IT Security Manager
  • B. Application Implementation Consultant
  • C. Application Implementation Manager
  • D. Any functional user
  • E. Functional Setup Manager Superuser

Answer: C

Explanation:
According to Oracle documentation2, the delivered role that can access the full functionality of Functional Setup Manager is Application Implementation Manager. Functional Setup Manager is a tool that enables you to manage and perform all of the setup tasks required for an application implementation. Application Implementation Manager is a predefined role that grants access to Functional Setup Manager and all of its features, such as setup tasks, implementation projects, setup export and import, and setup reports. Therefore, option A is correct. Option B is incorrect because Functional Setup Manager Superuser is not a delivered role.
Option C is incorrect because IT Security Manager is a role that grants access to security-related tasks, not Functional Setup Manager. Option D is incorrect because any functional user does not have access to Functional Setup Manager by default. Option E is incorrect because Application Implementation Consultant is not a delivered role.


NEW QUESTION # 21
Which two statements are true if a journal description rule is defined with sources?

  • A. The description rule may be assigned to either the header or line level, or to both.
  • B. The description rule can only be assigned to the header or line level.
  • C. You cannot assign journal description rules to sources.
  • D. The sources must also be assigned to the accounting event class that is assigned to the journal entry rule set.
  • E. The description rule can only be assigned to the journal line level.

Answer: A,D


NEW QUESTION # 22
When will Intercompany processing balance a journal using the accounts identified here for the UK Ledger?

  • A. when the journal is not balanced by the primary balancing segment value (BSV)
  • B. when there is a many-to-many journal and you want to use a clearing company
  • C. when the journal is balanced by second balancing segment value
  • D. when the journal is balanced by the primary BSV but not by second or third BSV

Answer: D

Explanation:
Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary balancing segment value (BSV) but not by second or third BSV. A BSV is a segment in the chart of accounts that identifies a legal entity or business unit for which financial statements are prepared and balanced. A primary BSV is required for every ledger and is used to balance journal entries within a ledger. A secondary or tertiary BSV is optional and is used to balance journal entries across different dimensions other than the primary BSV, such as fund or region. Intercompany processing is a feature that enables intercompany transactions between different legal entities or business units within the same enterprise. Intercompany processing uses intercompany balancing rules to generate intercompany receivables and payables accounts for cross-ledger or cross-BSV journals. Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary BSV but not by second or third BSV, as thisindicates that there is an intercompany transaction between different legal entities or business units within the UK Ledger that requires intercompany balancing.
Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when there is a many-to-many journal and you want to use a clearing company, as this is a scenario that involves multiple legal entities or business units across different ledgers that requires a separate clearing company ledger to perform intercompany balancing. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is not balanced by the primary BSV, as this is an invalid scenario that violates the accounting rules and prevents posting of the journal. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by second balancing segment value, as this is an incomplete scenario that does not specify whether the journal is also balanced by primary and third BSV. Reference: Oracle Financials Cloud: General Ledger
2022 Implementation Professional Objectives - Configure and Process Intercompany 12


NEW QUESTION # 23
What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?

  • A. Transaction Objects
  • B. Accounting Attributes
  • C. Event Entities
  • D. Mapping Sets

Answer: A


NEW QUESTION # 24
Which two statements are true regarding the Translation process? (Choose two.)

  • A. The Translation process can only be used to translate balance sheet accounts.
  • B. The Translation process can only be used for translating the balances of Secondary ledgers.
  • C. Any resulting offset from the translation is entered in the Cumulative Translation Adjustment account.
  • D. If necessary, before submitting the Translation process, the Revaluation process should be completed.
  • E. The Translation process should be run before posting Period Close adjustment entries.

Answer: C,D

Explanation:
According to Oracle documentation1, the following statements are true regarding the Translation process:
Any resulting offset from the translation is entered in the Cumulative Translation Adjustment account, and if necessary, before submitting the Translation process, the Revaluation process should be completed. The Translation process enables you to translate balances from one currency to another for reporting purposes.
The Translation process calculates any difference between the translated balance and the entered balance and posts it to the Cumulative Translation Adjustment account. The Revaluation process enables you to adjust balances denominated in foreign currencies to reflect current exchange rates. The Revaluation process should be completed before the Translation process to ensure that the balances are accurate. Therefore, options A and B are correct. Option C is incorrect because the Translation process should be run after posting Period Close adjustment entries. Option D is incorrect because the Translation process can be used for translating the balances of primary ledgers, secondary ledgers, and reporting currencies. Option E is incorrect because the Translation process can be used to translate both balance sheet accounts and income statement accounts.


NEW QUESTION # 25
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