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Oracle 1Z0-1054-21 Exam Syllabus Topics:

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

1. You entered a journal and the client is asking for the following information: - the current Account balance - What the future account balance will be if the Journal is approved and poste how will you get this information?

A) Query the account balance online
B) View the Projected Balances region in the create Journals page.
C) Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger Balances
D) Run a Trial Balance before and after posting

2. Your company has a legal entity in the UK, US, and Canada. They can all share the chart of Accounts but are required to transact and report In their local currency. :
What Is the minimum number of ledgers you need and why?

A) One, because they can all share the same chart of accounts.
B) Three, because each requires a different currency.
C) Two, because the US and Canada can share the same ledger because they are in north America
D) Four, because the UK has statutory requirements and you will need a separate ledger for statutory reporting

3. Your customer has enabled budgetary control for purchase orders. They have a purchase order for
$1,000 USD which is fully reserved. An invoice for $600 is entered and matched to the purchase order, and the purchase order is closed for further invoicing. What happens to the remaining $400 USD?

A) Only obligation type will have $400 USD funds available
B) $400 USD will be expired and not available for use
C) Invoice type will have less funds available by $400 USD
D) Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of$400 USD
E) $400 USD will be added back to available funds

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

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

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

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

Solutions: