QUIZ 1Z0-1054-24 EXAM DEMO & ORACLE FINANCIALS CLOUD: GENERAL LEDGER 2024 IMPLEMENTATION PROFESSIONAL UNPARALLELED RELIABLE TEST CAMP

Quiz 1z0-1054-24 Exam Demo & Oracle Financials Cloud: General Ledger 2024 Implementation Professional Unparalleled Reliable Test Camp

Quiz 1z0-1054-24 Exam Demo & Oracle Financials Cloud: General Ledger 2024 Implementation Professional Unparalleled Reliable Test Camp

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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q76-Q81):

NEW QUESTION # 76
Which two statements are true about balances cubes in General Ledger?

  • A. They are updated automatically when the General Ledger period is opened.
  • B. A new balances cube is created for a unique combination of ledger and currency.
  • C. New dimensions can be added to a General Ledger balances cube.
  • D. They are updated automatically when the Revaluation process is run.
  • E. They are updated automatically when the Translation process is run.

Answer: B,C

Explanation:
Balances cubes are multidimensional databases that store financial balances for interactive reporting and analysis. A balances cube is created for each unique combination of ledger and currency, and it contains dimensions such as chart of accounts segments, periods, scenarios, and other user-defined attributes. New dimensions can be added to a balances cube by using the Manage Balances Cube Dimensions task in General Ledger. Balances cubes are updated automatically when journals are posted in General Ledger, and they can also be refreshed manually by using the Refresh Balances Cube task. Balances cubes are not affected by the Translation or Revaluation processes, as these processes only update the balances tables in General Ledger.
References:
* Overview of Oracle General Ledger Balances Cubes1
* Considerations for General Ledger Balances Cubes2
* Overview of Oracle Essbase Balances Cubes3


NEW QUESTION # 77
You are creating values for thechart of account value setthat you are planning to use for theaccount segment within yourChart of Accounts. You are not able to assign anAccount Type.
What is the reason for this?

  • A. You have not set the Allow Budgeting attribute for the value set.
  • B. The Account Type qualifier has not been enabled when defining the value set.
  • C. You have not set the Allow Posting attribute for the value set.
  • D. You are creating values before assigning the value set to the structure.

Answer: B


NEW QUESTION # 78
The current implementation project covers Financials (with Fixed Assets and Expenses) with operations planned in three countries (USA, Italy, and India).
Which three labels are required when designing the chart of account structure for this project? (Choose three.)

  • A. Intercompany Segment
  • B. Primary Balancing
  • C. Secondary Balancing
  • D. Natural Account
  • E. Cost center

Answer: B,D,E

Explanation:
The three labels that are required when designing the chart of account structure for this project are Primary Balancing, Cost center, and Natural Account. A chart of account structure is composed of segments that represent different dimensions of accounting information, such as company, department, account, or project.
Each segment has a label that indicates its function or purpose within the chart of accounts. The Primary Balancing label is required for the segment that identifies the legal entity or business unit for which financial statements are prepared and balanced. The Cost center label is required for the segment that identifies the organizational unit or function that incurs expenses or generates revenues. The Natural Account label is required for the segment that identifies the nature of an account, such as asset, liability, revenue, or expense.
The Intercompany Segment label is not required when designing the chart of account structure for this project, as this is an optional label for the segment that identifies intercompany transactions between different legal entities or business units within the same enterprise. The Secondary Balancing label is not required when designing the chart of account structure for this project, as this is an optional label for the segment that identifies an additional balancing dimension other than the primary balancing segment, such as fund or region. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Chart of Accounts 12


NEW QUESTION # 79
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. Nothing, existing historical rates are not updated.
  • B. The existing historical rate is deleted.
  • C. Historical rates are converted into an average rate (original and new rate).
  • 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 # 80
You are required to changetoday's daily ratesfor convertingGBP to USD. What are three ways in which you can update existing daily rates?

  • A. Update rates manually using the Currency Rates Manager, which can be accessed only from the Functional Setup Manager.
  • B. Use the spreadsheet loader from the Currency Rates Manager.
  • C. Import daily rates through the Daily Rates open interface table.
  • D. Edit existing transactions and update the rates manually.
  • E. Update rates manually using the Currency Rates Manager, which can be accessed from the Functional Setup Manager or the General Ledger's Period Close work area.

Answer: B,C,E


NEW QUESTION # 81
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