Free Oracle 1Z0-1054-26 Practice Test & Real Exam Questions
You have just been hired to add a new subsidiary to the corporate enterprise structure in the customer ' s Oracle Fusion Cloud.
The subsidiary will capture transaction information from subledgers in the local currency and under International Financial Reporting standards (IFRS) and local GAAP for corporate reporting requirements, which will report via the use of a secondary ledger.
The secondary ledger is used only at period end; there is no need to have real-time transaction or Journal details. It is noted that most of the accounting between IFRS and Corporate GAAP is similar.
Which conversion level would you recommend to keep a thin secondary ledger?
The subsidiary will capture transaction information from subledgers in the local currency and under International Financial Reporting standards (IFRS) and local GAAP for corporate reporting requirements, which will report via the use of a secondary ledger.
The secondary ledger is used only at period end; there is no need to have real-time transaction or Journal details. It is noted that most of the accounting between IFRS and Corporate GAAP is similar.
Which conversion level would you recommend to keep a thin secondary ledger?
Correct Answer: B
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What is the key functionality of Smart View in Oracle Cloud Financial Reporting?
Correct Answer: C
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The intercompany accountants on the cloud project are trying to reconcile intercompany balances using the latest intercompany reconciliation report.
However, they have some concerns about the information presented in the report and want you to clarify the content in the standard reconciliation report.
What is included in the intercompany reconciliation report?
However, they have some concerns about the information presented in the report and want you to clarify the content in the standard reconciliation report.
What is included in the intercompany reconciliation report?
Correct Answer: C
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You can run predefined reports to reconcile subledger application balances to General Ledger balances.
Which attribute must you set up on the Manage Values page for chart of accounts segment values so that you can run the Payables to General Ledger Reconciliation report or Receivables to General Ledger Reconciliation report? '
Which attribute must you set up on the Manage Values page for chart of accounts segment values so that you can run the Payables to General Ledger Reconciliation report or Receivables to General Ledger Reconciliation report? '
Correct Answer: E
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InFinancial Cloud, which three reporting tools can be used to accessGeneral Ledger balances?
Correct Answer: C,D,E
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You have decided to use the Journal Attachments Audit feature to monitor and adhere to compliance policies.
Journals created from which mode are eligible for auditing?
Journals created from which mode are eligible for auditing?
Correct Answer: C
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Users with the General Accountant job role have reported that they are unable to access the UK Ledger. They require read/write access to the full ledger. The accounting configuration completed successfully.
What should you do to allow access to the ledger?
What should you do to allow access to the ledger?
Correct Answer: B
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