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Oracle 1Z0-1054-21 Exam Syllabus Topics:

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

1. Your customer wants to have balance sheets and income statements for their cost center and program segments. That is, the customer wants to have three balancing segments. Which two recommendations would you give your customer? (Choose Two)

A) Additional intercompany rules will need to be defined for the two additional balancing segments.
B) Define Leger balancing options to balance by second and third balancing segments.
C) When entering Journals manually, the customer will need to make sure that the debits and credits are equal across all balancing segments because the system will not automatically balance is journal.
D) Every Journal where debits do not equal across the three balancing segments will result in the system generating extra journal lines to balance the entry.

2. What type of user must be defined before you can create an Implementation Project?

A) All roles that will be used throughout the implementationImplementation Users
B) None The OIM system administrator user ID, XELSYSADM, which is assigned by the person provisioning the system, has full access
C) None. The Fusion Applications Superuser, FAADMIN, has full access to create an ImplementationProject
D) A full-time employee that has the FSM Superuser role assigned

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

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

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

5. Alter submitting the journal for approval, you realize that the department value in the journal incorrect.
How do you correct the value?

A) Delete the journal and create a new journal
B) Update the journal through workflow
C) Click the Withdraw Approval button in the Edit Journals page and edit the journal
D) Reverse the journaland create a new one

Solutions: