Oracle 1Z0-1054-21 : Oracle Financials Cloud: General Ledger 2021 Implementation Essentials

You set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of sub ledger. Which two actions should you now perform? (Choose two.)

• A. Ensure that the Accounting Calendar and Currency are the same as the Primary Ledger
• B. Define Journal Conversation Rules that include sub ledgers in order to transfer sub ledger transactions
• C. Define Supporting References with balances
• D. Assign a Sub ledger Accounting Method to the secondary ledger
• E. Define Journal Conversation Rules that exclude sub ledgers

Your ledger currency is USD. At month end you have a balance on the Accounts Payable Line of 100,000 Euros which is equivalent to USD 136,550 The month end exchange rate Is 1 Euro = 1.3755 USD What two statements are true for the resulting revaluation run?

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

While Creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created. Which two options explain that? (Choose Two)

• A. The Account Rule's Chart of Accounts have no account values assigned
• B. The Account Rule's conditions are not defined
• C. The Account Rule is defined with a different chart of Accounts from the Journal Entry Rule Set.
• D. The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set

What are the Two purposes of a secondary ledger?

• A. it should not be used when trying to meet local accounting requirements.
• B. it is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting.
• C. it can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency and/or journal processing options
• D. it is used to main balances in a different currency only
• E. it should only be used to maintain balances for processing performance.

Your Customer has three legal entities, 50 Departments, and 10,000 natural accounts. They use intercompany entries. What is Oracle's recommended best practice when implementing: a new chart of accounts? How many segments and what segment qualifiers should be used?

• A. Define Three segments for the company, department, and natural accounts. The qualifiers should be primary balancing segment, intercompany segment, cost center segment, and natural account segment, respectively
• B. Define four segments for the company, department, natural account and intercompany segment. The qualifiers should be primary balancing segment , cost center segment, natural account segment and intercompany segment respectively
• C. Define five segments for the company, department, natural account, intercompany segment and future segment. The qualifiers should be primary balancing segment , cost center segment, natural account segment, intercompany segment an no qualifier respectively.
• D. Define Three segments for the company, department, and natural accounts, the qualifiers should be primary balancing segment, cost center segment, and natural account segment, respectively