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Oracle Financials Cloud: General Ledger 2020 Implementation Essentials: 1Z0-1054-20

Rating: 4.8

Vendor: Oracle

Certifications: Enterprise Resource Planning (ERP)

Exam Name: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials

Exam Code: 1Z0-1054-20

Total Questions: 55 Q&As

Last Updated: Jun 25, 2022

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1Z0-1054-20 Online Practice Questions and Answers

Questions 1

When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two).

A. Financial Reporting Studio

B. Smart View

C. Oracle Financial Statement Generator

D. Financial Reporting Center

Show Answer
Questions 2

You are using Oracle General Ledger (GL), Oracle Payables and Oracle Receivables and would like to prevent the closure of the GL period if the corresponding subledger period is not closed.

How will you achieve this?

A. Opt in to the Prevent Period Close option for the offering

B. Set the relevant option on the Specify Ledger Options page

C. Nothing, this option is enabled automatically

D. Set the ORA_GL_INCLD_STRICT_PRD_CLOSE profile option to yes

Show Answer
Questions 3

You are defining intercompany balancing rules that are applied to a specific source and category, such as payables and invoices, or a specific intercompany transaction type, such as Intercompany Sales.

Which two statements are correct? (Choose two.)

A. Set up a chart of accounts rule for every chart of accounts structure you have to ensure that Intercompany Balancing will always find a rule to use to generate balancing accounts.

B. You can create a rule for all sources and categories by selecting the source "Other" and the category "Other".

C. If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value.

D. You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work.

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