Free Oracle 1z0-1054-20 Practice Test & Real Exam Questions

Exam Code/Number: 1z0-1054-20
Exam Name/Title: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud

Exam Questions: 103
Updated On: Jun 05, 2026

Question #1

Encumbrance accounting is enabled for your ledger. An encumbrance journal dated 3/15/19 was recorded for a purchase order.
The invoice was entered on 5/5/19, but the invoice accounting date was 4/20/19. The encumbrance journal for liquidating the purchase order encumbrance is dated 5/5/19.
What is causing this?

A. The system date was set up under the encumbrance accounting Default Date Rule

B. The current transaction accounting date was set up under the encumbrance accounting Default Date Rule

C. The subledger accounting option is set to system date

D. The actual accounting date was set up under the encumbrance accounting Default Date Rule

E. The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule

Discussion 0

Correct Answer: B Vote an answer

Question #2

You need to create a month-end reporting package for an upcoming Audit Committee meeting, you have 10 financial reports that you want to share with executives and auditors that are nicely formatted.
Identify the two Oracle recommended ways to accomplish this. (Choose two.)

A. Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee

B. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet

C. Use OTBI to create multiple reports that you save to a folder that only the users can access

D. Use a report batch to run reports at a specific time to create a set of snapshot reports

E. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book

Discussion 0

Correct Answer: D,E Vote an answer

Question #3

You create an invoice for USD 100 that is matched to a purchase order of USD 100. You validate the invoice to consume the budget and reduce funds available. And then later, you cancel the invoice. What happens to funds available when you cancel an invoice that requires budgetary control?

A. The budget and funds available will increase by USD 100

B. Funds available will change when the invoice is approved

C. The funds reserved for the purchase order is reinstated while the invoice expenditure is reserved by USD
100

D. The budget will increase by USD 100 and the funds available will decrease by USD 100

Discussion 0

Correct Answer: C Vote an answer

Question #4

Account combinations can be created and/or modified using the Import Account Combinations file-based data import (FBDI).
Which represents the appropriate upload steps?

A. Submit the Import Account Combinations process, then insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template.

B. Submit the Import Account Combinations process, then insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template.

C. Insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.

D. Insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.

Discussion 0

Correct Answer: C Vote an answer

Question #5

Your customer uses Financials Cloud, Projects, Inventory and Procurement.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)

A. Each product has its own Intercompany Accounting feature that needs to be set up separately

B. They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub

C. Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management

D. Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals

Discussion 0

Correct Answer: C,D Vote an answer

Question #6

The Accounting Manager requests that a schedule be created to automatically post journals from subledgers at different times. Which journal attribute should you use to set the automatic posting criteria?

A. Journal Source

B. Journal Batch

C. Journal Description

D. Journal Category

Discussion 0

Correct Answer: A Vote an answer

Question #7

You want to automatically post journal batches imported form subledger sources to prevent accidental edits or deletions of the subledger sources journals, which could cause an out-of-balance situation between your subledgers and general ledger. Which two aspects should you consider when defining your AutoPost Criteria?
(Choose two.)

A. Include all of your subledger sources in the AutoPost CriteriA. Divide up criteria sets by subledger source only if you need to schedule different posting times

B. Schedule your AutoPost Criteria set to run during off-peak hours only

C. Create your AutoPost criteria using minimal sources and categories

D. Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process

Discussion 0

Correct Answer: A,D Vote an answer

Question #8

The Create Accounting program could not determine the debit side of the journal entry.
Which component of Subledger Accounting determines the debit or credit side of a journal entry?

A. Journal Balances Rule

B. Journal Entry Rule Set

C. Journal Accounting Rule

D. Journal Line Rule

E. Account Rule

Discussion 0

Correct Answer: B Vote an answer

Question #9

Your customer requires physical invoices to be generated in Payables Cloud and Receivables Cloud for the Intercompany payables and receivables transactions. Which two statements are correct with regards to setting this up? (Choose two.)

A. You must assign the corresponding Receivables and Payables Business Units

B. You must have implemented Payables Cloud and Receivables Cloud

C. You can only associate one Intercompany Organization per Legal Entity

D. You only need to assign the Legal Entity and Organization Contact

Discussion 0

Correct Answer: A,B Vote an answer

Question #10

Your Financial Analyst needs to interactively analyze General Ledger balances with the ability to drill down to originating transactions. Which three features facilitate this? (Choose three.)

A. Account Monitor

B. Sunburst reports

C. Online Transactional Business Intelligence

D. Smart View

E. Account Inspector

Discussion 0

Correct Answer: A,D,E Vote an answer

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