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Oracle 1Z0-1054-21 Exam Syllabus Topics:

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

1. Identify three functions of Functional Setup Manager.

A) Automatically mark the status of tasks as Completed after they have been completed.
B) Provide a central place to access and perform all of the setup steps across Cloud application products.
C) Automatically generate lists of setup tasks in the correct sequence with dependencies highlighted.
D) Centrally manage the close processes across subledgers and ledgers.
E) Assign setup tasks to individuals with due dates where users must manually update their completion status.

2. Management has added a requirement to segregate the duties of transferring journals to the General Ledger from the posting function. Which two new features allow this segregation? (Choose two.)

A) Journal entry spreadsheets are not impacted by this new function.
B) Must have separate user defined roles using the privilege XLA_CREATE_GENERAL_LEDGER_AND_SUBLEDGER _JOURNALS.
C) For previously scheduled automated processes, it is recommended to cancel and rescheduled the process for the option to be effective.
D) Uncheck the Enable Posting from the Manage Subledger Accounting Options task.

3. Your customer is a financial Institution that needs to maintain average daily balances (ADB). Which two statements are true regarding this functionality in Fusion Applications?

A) ADB provides organizations with the ability to track average and end-of-day balances, report average balance sheets, and create custom reports using both actual and average balances
B) When using ADB, you must define a daily calendar and assign it to your ADB ledger
C) Average balances are stored in the Essbase cube
D) Average balances are stored for both subledger balances and general ledger balances
E) Average balances are maintained for both actual and budget balances

4. You have a requirement for the Intercompany Provider and Receiver distribution account to be balance automatically for all intercompany transactions.
What should you configure?

A) the AutoAccounting Definition
B) Intercompany transaction type default accounts
C) the Transaction Account Definition g
D) Provider and Receiver distribution set -

5. You need to setup a calendar for fiscal year Apr-XX to Mar-YY where YY is the following year and you would like the periods to be named accounting to the year they fall in What Calendar format should you choose?

A) Period
B) Fiscal
C) Year
D) Calendar

Solutions: