← Back to exam page

1z0-1054-21 – Oracle Financials Cloud: General Ledger 2021 Implementation Essentials

Loading demo links...

Showing 7–9 of 10 questions

Question 7

All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance.

They do perform intercompany accounting. What is Oracle’s recommended approach to performing consolidations?

Select an option, then click Submit answer.

  • ○

    Use General Ledger’s Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment
  • ○

    Use Oracle Hyperion Financial Management for this type of complex consolidation
  • ○

    Use General Ledger’s Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
  • ○

    Define multiple ledgers for consolidation and report on ledger set
Question 8

Which subject area has been enhanced to allow you to drill down from OTBI General Ledger Reports to a General Ledger journal?

Select an option, then click Submit answer.

  • ○

    General Ledger - Journal Transaction Balances Real Time
  • ○

    General Ledger – Journal Balances Real Time
  • ○

    General Ledger – Summary Journals Real Time
  • ○

    General Ledger – Journals Real Time
Question 9

The general accountant is trying to update the cost center for the Default Suspense Account in the Ledger Options to match the cost center for the Rounding Account.

The rounding account is showing as 01-110-7699-00; however, 110 is not appearing in the List of Values for the accountant to select in the Suspense Account.

What is the reason for this?

Select an option, then click Submit answer.

  • ○

    The general accountant does not have the Financials Application administrator role assigned and, therefore, has view-only privileges on this page
  • ○

    The general accountant has a segment value security rule assigned which restricts access to that cost center
  • ○

    There is a primary balancing segment attached to the legal entity of the primary ledger
  • ○

    A cross validation rule is in place to prevent the resulting combination from being created