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Oracle 1z0-1054-23 Exam Syllabus Topics:

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

1. 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 136,550 USD. This balance needs to be revalued. The month-end exchange rate for revaluation is 1 Euro = 1.3755 USD.
What two statements are true about the resulting revaluation run?

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

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

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

3. When creating your financial statements, you want a chart such as a bar graph to be included in the report output. Which two reporting tools allow you to achieve this?

A) Account Inspector
B) Smart View
C) Financial Statement Generator
D) Financial Reporting Studio

4. Which three factors should you consider while specifying Intercompany System options?

A) Whether to allow receivers to reject intercompany transactions
B) Approvers who will approve intercompany transactions
C) Whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies
D) Automatic or manual batch numbering and the maximum transaction amount
E) Automatic or manual batch numbering and the minimum transaction amount

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

Solutions: