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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q15-Q20):

NEW QUESTION # 15
You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered and posted after you consolidated your results.
What is Oracle's recommended practice when this occurs?

A. Enter another adjusting journal entry in the target currency to true up the balances.
B. Translate only the adjusting journal entry.
C. Rerun Translation and then reconsolidate your results.
D. Rerun Revaluation and then rerun Translation.

Answer: C

Explanation:
According to Oracle's documentation, if you enter and post additional journal entries in your ledger currency after you run translation, you should rerun translation for the entire ledger or ledger set to ensure that all balances are translated using the same exchange rates. Then, you should reconsolidate your results to reflect the updated translated balances. References:
* Using General Ledger, page 9-7: "If you enter and post additional journal entries in your ledger currency after you run translation, you should rerun translation for the entire ledger or ledger set."
* Using General Ledger, page 9-8: "After you run translation, you can consolidate your results to create a consolidated balance sheet and income statement."
* Implement General Ledger, page 2-10: "You can translate and consolidate balances as part of the period close process."

NEW QUESTION # 16
You are planning to create an Income Statement using Smart View.
Which Smart View tool should you use for this?

A. Smart Queries
B. Smart Slices
C. Ad Hoc Analysis
D. Query Designer

Answer: C

Explanation:
To create an Income Statement using Smart View, you should use Ad Hoc Analysis. Ad Hoc Analysis is a Smart View tool that allows users to view and analyze financial data from General Ledger Cloud using Essbase cubes. Users can create reports such as Income Statements or Balance Sheets by selecting dimensions and members from Essbase cubes and retrieving data into Excel worksheets. Users can also perform actions such as drilling down, pivoting, zooming in or out, or expanding or collapsing members

NEW QUESTION # 17
Your userforgot the password. How do you resolve this?

A. Create a new user ID and password for the user.
B. Use the Manage Users page to update the user's information and change the password.
C. Log in to the user's machine as an Administrator and change the password from the login password.
D. Use Access Policy Manager (APM) to reset the user's password.
E. Use Oracle Identity Management (OIM) to reset the user's password.

Answer: E

NEW QUESTION # 18
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. FBDI level
B. Adjustment only level
C. Journal level
D. Balance level
E. Subledger level

Answer: B

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 # 19
You are using account hierarchies for reporting and allocations.
Which two statements are true about these types of hierarchies? (Choose two.)

A. Hierarchies for reporting and allocations have to be published to Essbase cubes.
B. Hierarchies for reporting and allocations do not have to be published to Essbase cubes.
C. Child values in these hierarchies can belong to only one parent.
D. You can have only one version of a hierarchy published to the Essbase cube at any time.

Answer: C,D

Explanation:
According to the Oracle documentation34, account hierarchies are defined in Oracle Fusion applications using tree functionality. Each account hierarchy is defined as a tree with one or more versions. You can have only one version of a hierarchy published to the Essbase cube at any time (option A). Child values in these hierarchies can belong to only one parent (option D). Option B is incorrect becausehierarchies for reporting and allocations must be published to Essbase cubes5. Option C is incorrect because it contradicts option B.

NEW QUESTION # 20
......

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Efficient and Convenient Preparation with GuideTorrent's Updated 1z0-1054-24 Exam Questions

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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q15-Q20):

Pass-Sure 1z0-1054-24 Exam Guide: Oracle Financials Cloud: General Ledger 2024 Implementation Professional are famous for high pass rate - GuideTorrent

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