Quiz Oracle - 1z0-1054-22 - Oracle Financials Cloud: General Ledger 2022 Implementation Professional Perfect Free Learning Cram

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The Oracle 1z0-1054-22 exam is ideal for individuals who are responsible for implementing and managing the Oracle Financials Cloud General Ledger module. 1z0-1054-22 exam covers topics such as General Ledger Configuration, Journal Processing, Financial Reporting, and Accounting Periods. It is essential to note that the exam is designed for professionals who already have experience with Oracle Financials Cloud solutions.

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Oracle Financials Cloud: General Ledger 2022 Implementation Professional Sample Questions (Q15-Q20):

NEW QUESTION # 15
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. Set the relevant option on the Specify Ledger Options page
B. Nothing, this option is enabled automatically
C. Set the ORA_GL_INCLD_STRICT_PRD_CLOSE profile option to yes
D. Opt in to the Prevent Period Close option for the offering

Answer: D

Explanation:
Reference:
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NEW QUESTION # 16
You entered a cross validation rule to prevent the balance sheet cost center (000) being used with Profit and Loss Accounts (4000-ZZZZ).
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The following combinations exist in the Code Combination table:
01-000-4110-00, 01-000-5299-000, 01-000-5105-000 and 01-000-7640-00
Which two statements are true regarding cross-validation rules? (Choose two.)

A. The rules will validate and apply to new and existing accounts
B. You need to run the Cross-Validation Rule Violations process to allow rules to apply to existing combinations that violate rules
C. The rules validate and apply to new accounts only
D. There is no need to create cross-validation rules if Dynamic Combination Creation Allowed is not enabled for your chart of accounts instance
E. You need to run the Cross-Validation Rules process to list and optionally disable combinations that violate rules

Answer: A,E

Explanation:
The two true statements regarding cross-validation rules are that you need to run the Cross-Validation Rules process to list and optionally disable combinations that violate rules, and that the rules will validate and apply to new and existing accounts. The Cross-Validation Rules process is a scheduled process that identifies existing account combinations that violate cross-validation rules and optionally disables them. You can run this process after defining or modifying cross-validation rules to ensure data integrity. The cross-validation rules will validate and apply to new and existing accounts, as they are enforced whenever an account combination is created or updated. The rules do not apply to new accounts only, as they also apply to existing accounts. There is no need to run the Cross-Validation Rule Violations process, as this is not a supported option. There is no need to create cross-validation rules if Dynamic Combination Creation Allowed is not enabled for your chart of accounts instance, as this is not a relevant factor. Dynamic Combination Creation Allowed is an option that determines whether users can create new account combinations on the fly or only use predefined combinations. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Chart of Accounts 12

NEW QUESTION # 17
You are defining intercompany balancing rules that are applied to a specific source and category, such as payable and invoices, or a specific intercompany transaction type, such as Intercompany Sales.
Which two statements are correct? (Choose two.)

A. You can create a rule for all sources and categories by selecting the source "Other" and the category "Other".
B. Set up a chart of accounts rule for every chart of accounts structure you have in order to ensure that Intercompany Balancing will always find a rule to use to generate balancing accounts.
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.

Answer: A,B

NEW QUESTION # 18
What is the most efficient way to add a new year to the accounting calendar?

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

Answer: B

NEW QUESTION # 19
You need to define a chart of accounts that includes an 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 charts of accounts
B. Define the company segment only and qualify it as both the 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

Answer: C

Explanation:
Oracle's recommended method to define a chart of accounts that includes an intercompany segment when your customer plans to use segment value security rules for the Company segment is to use two different value sets for the company and intercompany segment because segment value security rules are at the value set level. This allows you to restrict access to specific values within a segment based on the value set assigned to that segment. Therefore, option D is correct. Option A is incorrect because you cannot qualify the same segment as both the primary balancing segment and intercompany segment. Option B is incorrect because you don't need to define two different charts of accounts for this scenario. Option C is incorrect because you don't want to share the same value set for the company and intercompany segments if you plan to use segment value security rules for the Company segment.

NEW QUESTION # 20
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