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Oracle 1z0-1054-23 Exam Syllabus Topics:

Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:

1. 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 the company segment and assign both the primary balancing segment and intercompany segment labels.
B) Create two different value sets for the company and intercompany segments.
C) Share the same value set for the company and intercompany segments.
D) Define the intercompany segment with a default value.

2. A subsidiary company is about to configure their General Ledger in a highly regulated country where there is a legal requirement to produce fiscal reports under local GAAP. Subledgers transferring to General Ledger must use the local currency, and there is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS).
Which two ledger types should be configured to fulfill this reporting requirement?

A) Reporting currency with the local accounting convention
B) Primary ledger with the local accounting convention
C) Primary ledger with the IFRS accounting convention
D) Secondary ledger with the IFRS accounting convention
E) Reporting currency with the IFRS accounting convention

3. On a primary ledger in the system options close section, the following field has been selected 'Prevent General Ledger Period Closure When Open Subledger Periods Exist'.
For which three subledgers can you opt out of the period close checking feature by using the lookup ORA_GL_INCLD_STRICT_PRD_CLOSE? (Choose three.)

A) Assets
B) Receipt accounting
C) Order Management
D) Receivables
E) Revenue Management

4. You have three ledgers that use the same chart of accounts with one intercompany payable and one intercompany receivable account. The chart of accounts also has an intercompany segment. Each ledger has one legal entity assigned to it and each legal entity is associated with one balancing segment value.
At what level should you define the default intercompany balancing rule?

A) Ledger-level rule
B) Legal entity-level rule
C) Primary balancing segment rule
D) Chart of accounts rule

5. What are two uses of the Column Flattening and Row Flattening features? (Choose two.)

A) View information for runtime performance.
B) Optimize parent/child relationships.
C) Create additional versions of a tree.
D) Set the status of a tree to active.
E) Verify correctness of trees.

Solutions: