1Z0-1054-24 GUIDE TORRENT: ORACLE FINANCIALS CLOUD: GENERAL LEDGER 2024 IMPLEMENTATION PROFESSIONAL & 1Z0-1054-24 LEARNING MATERIALS

1z0-1054-24 Guide Torrent: Oracle Financials Cloud: General Ledger 2024 Implementation Professional & 1z0-1054-24 Learning Materials

1z0-1054-24 Guide Torrent: Oracle Financials Cloud: General Ledger 2024 Implementation Professional & 1z0-1054-24 Learning Materials

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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q54-Q59):

NEW QUESTION # 54
You entered across-validation ruleto prevent thebalance sheet cost center (000)from being used withProfit and Loss Accounts (4000-ZZZZ).
The following combinations exist in theCode Combination table:
* 01-000-4110-00
* 01-000-5299-000
* 01-000-5105-000
* 01-000-7640-00
Which two statements aretrueregardingcross-validation rules?

  • A. The rules validate and apply tonew accounts only.
  • B. The rules will validate and apply tonew and existing accounts.
  • C. You need to run theCross-Validation Rule Violations processto allow rules to apply to existing combinations that violate rules.
  • D. There is no need to create cross-validation rules ifDynamic Combination Creation Allowedis notenabled for your chart of accounts instance.
  • E. You need to run theCross-Validation Rules processto list and optionally disable combinations that violate rules.

Answer: B,C


NEW QUESTION # 55
You are using Oracle General Ledger (GL), Oracle Payables, and Oracle Receivables and you want to prevent the closure of the GL period if the corresponding subledger period is not closed. How do you achieve this?

  • A. Set the relevant option on the Specify Ledger Options page.
  • B. Opt in to the Prevent Period Close option for the offering.
  • C. Set the ORA_GLJNCLD_STRICT_PRD_CLOSE profile option to yes.
  • D. You don't have to do anything; this option is enabled automatically.

Answer: A

Explanation:
You can prevent the closure of a General Ledger accounting period if the accounting period for any of the corresponding subledgers is still open, or if incomplete accounting entries or transactions exist for the period.
This can help ensure an effective period close process that validates all transactions are complete and aren't held up during the close. To enable this feature, you need to set the relevant option on the Specify Ledger Options page for each primary ledger. The option is called Prevent General Ledger Period Closure When Open Subledger Periods Exist and it is located in the Period Close section. You can also specify which subledgers to include or exclude from the validation, except for Assets, which is automatically excluded by default. References:
* How to Prevent a General Ledger Period from Closing When Open Subledger Periods Exist
* Period Close Components
* Review: Prevent General Ledger Period Closure When Open Subledger Periods Exist


NEW QUESTION # 56
Your customer has alarge number of legal entities. Thelegal entity valuesare defined in thecompany segment and the primary balancing segment.
They want to easily createeliminating entriesfor theintercompany activity.
What should you recommend?

  • A. Define an intercompany segment in the chart of accounts. The Intercompany module and theIntercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading.
  • B. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment.
  • C. There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.
  • D. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the Intercompany rules you define.

Answer: A


NEW QUESTION # 57
A company implementing Oracle General Ledger has a business requirement to report under two accounting conventions and is considering setting up a primary and secondary ledger. The two accounting standards are very close.
Which data conversion level should you recommend to ensure only manual journals will be entered in the secondary ledger?

  • A. Journal level
  • B. Subledger level
  • C. Adjustment only level
  • D. Balance level
  • E. FBDI level

Answer: C

Explanation:
The adjustment only level is the data conversion level that ensures only manual journals will be entered in the secondary ledger. This level means that no data is copied from the primary ledger to the secondary ledger automatically. Instead, the user can enter manual adjustments in the secondary ledger to reflect the differences between the two accounting standards. This level issuitable for scenarios where the accounting methods or charts of accounts are very close between the primary and secondary ledgers, and there is no need to maintain detailed journals or subledger transactions in the secondary ledger. References: Primary Ledgers, Secondary Ledgers, and Reporting Currencies, High Volume Data Migration Considerations for General Ledger, Reporting Currencies - Conversion Level Balance


NEW QUESTION # 58
For translation purposes, the Financials reporting team has decided to load the monthly Historical currency rates by using File-Based Data Interface (FBDI).
What happens to the existing historical rate for a specific ledger, currency, account combination, and accounting period if they use insert in the spreadsheet?

  • A. Historical rates are converted into an average rate (original and new rate).
  • B. Nothing, existing historical rates are not updated.
  • C. The existing historical rate is deleted.
  • D. The historical rate is replaced.

Answer: D

Explanation:
If you use insert in the spreadsheet to load the monthly historical rates by using FBDI, the existing historical rate for a specific ledger, currency, account combination, and accounting period will be replaced by the new rate. This is because the insert action will overwrite the existing rate with the new rate in the GL_HISTORICAL_RATES_INT table. If you want to preserve the existing rate, you should use update or delete actions instead. References:
* How Historical Rates Import Data Is Processed, Section: Use the Historical Rates Import file-based data import (FBDI) template to import historical rates from external and legacy sources to Oracle General Ledger
* Import Historical Rates, Section: Details
* Entering Historical Rates, Section: Entering Historical Rates


NEW QUESTION # 59
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