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Oracle 1Z0-1054-21 Exam Syllabus Topics:

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

1. Which two statements are true regarding how intercompany balancing rule, are defined? (Choose Two)

A) All Ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules
B) You can only define balancing rules for different journals sources. You cannot define balancing rules for different journal categories
C) You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types
D) you can define different rules for different chart of accounts, ledgers, legal entities, and primary balancing segment value.

2. You are implementing a multipillar implementation of both HCM Cloud and ERP Cloud. You are implementing ERP first followed by HCM Cloud. You want to ensure your ledgers and chart of accounts are correctly defined. What should you do? (Choose three)

A) Use the Rapid Implementation spreadsheet when creating your enterprise structure
B) Create your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets
C) Use HCM's Enterprise Structure Configurator (ESC) first
D) Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies
E) Deploy your chart of accounts

3. you need to define a chart of accounts includes a intercompany segment. Your customer plans to use segment value security rules for the company segment. What is Oracle's recommended method to define this chart of accounts?

A) Define Two Different Chart of Accounts
B) Define the company segment only and qualify it as both primary balancing segment and intercompany segment.
C) Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level.
D) Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance.

4. What is most efficient way to add a new year to the accounting calendar?

A) The Application automatically populates the year when you open the first period of a new fiscal year.
B) Use the Add Year button
C) Add the periods manually
D) Import the periods from a spreadsheet

5. How do you hide accounts with no balances showing #Missing in Smart view?

A) Use Excel functions to hide rows with #Missing assigned
B) This indicates a database connection issue
C) Choose the Suppress Zeros option under Data options
D) Select the Data/Missing check box in the Data Options tab

Solutions: