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Oracle 1z0-1054-23 Exam Syllabus Topics:

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

1. An Oracle Fusion Cloud customer has a complex enterprise structure that includes multiple legal entities in multiple countries. To match the intercompany balancing requirements, all four levels of rules have been defined. In user testing, the business experts are asking which rule will be considered first when balancing an intercompany journal?

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

2. Which two are valid Data Access Set types? (Choose two.)

A) Read and Write access
B) Full Ledger
C) Read Only access
D) Full access
E) Primary Balancing Segment Value

3. Which two statements are true about the Intercompany Reconciliation report?

A) It can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
B) It includes ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.
C) It displays all clearing company balancing lines for a period.
D) You can only drill down to the General Ledger journal and then from there to the Subledger journal entry.
E) It displays the intercompany receivables and intercompany payables balances in summary for a period.

4. Your ledger currency is USD. At month end you have a balance on the Accounts Payable Liability Account of
100,000 Euros which is equivalent to USD 136,550. This balance needs to be revalued.
The month end exchange rate for revaluation is 1 Euro = 1.3755 USD.
What two statements are true for the resulting revaluation run? (Choose two.)

A) There is no unrealized exchange gain or loss calculated.
B) You have an unrealized exchange loss recorded.
C) You have an unrealized exchange gain recorded.
D) The original journal entry in Euros remains the same.
E) The original journal entry in Euros is updated.

5. 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) Subledger level
C) Balance level
D) Adjustment only level
E) Journal level

Solutions: