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The TopExamCollection 1z0-1054-24 exam practice test questions will provide you with everything that you need to learn, prepare and pass the Oracle Financials Cloud: General Ledger 2024 Implementation Professional 1z0-1054-24 exam. The TopExamCollection 1z0-1054-24 exam questions are the real PSE questions that will help you to understand the real Oracle Financials Cloud: General Ledger 2024 Implementation Professional 1z0-1054-24 Exam Pattern and answers and you can easily pass the final Oracle Financials Cloud: General Ledger 2024 Implementation Professional 1z0-1054-24 exam.

Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q65-Q70):

NEW QUESTION # 65
Which two statements areTRUEregarding theBalances CubesinGeneral Ledger?

A. A new Balances Cube is created for a unique combination of Ledger and Currency.
B. They are updated automatically when the General Ledger period is opened.
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,E

NEW QUESTION # 66
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?

A. Journal ledger
B. Adjustment only
C. Sub-ledger level.
D. Balance level

Answer: D

Explanation:
To keep a thin secondary ledger, you should select the balance level as the data conversion level. This means that only the ending balances of the primary ledger are copied to the secondary ledger at the end of each period. This reduces the data volume and storage requirements of the secondary ledger, as well as the processing time and resources needed to copy the data. The balance level conversion is suitable for scenarios where the accounting methods or charts of accounts are similar between the primary and secondary ledgers, and there is no need to maintain detailed journals or subledger transactions in the secondary ledger. References: Primary Ledgers, Secondary Ledgers, and Reporting Currencies, How Journals Are Copied from Primary to Secondary Ledgers When ..., GL Secondary Ledger Conversion Level Change

NEW QUESTION # 67
You want toprevent intercompany transactionsfrom being entered during thelast day of the close. What should you do?

A. Close all subledger periods.
B. Close the General Ledger period in the Manage Accounting Periods page.
C. Close Intercompany periods in Fusion Intercompany.
D. Freeze the Intercompany Journal source in General Ledger.

Answer: C

NEW QUESTION # 68
You are reconciling yourPayablesandReceivablesbalances against theGeneral Ledger. You are using the Payables to Ledger Reconciliation report.
You notice discrepancies between the balances in thesubledgers, subledger accounting, and general ledger.
Which three factors are responsible for these out-of-balance situations?

A. There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.
B. Intercompany transactions have not been fully processed.
C. Period Close processes, such as Revaluation, Translation, and Consolidation have not been performed yet.
D. Subledger transactions have been accounted and transferred to General Ledger but have not been posted.
E. All subledger transactions have been entered but do not have complete accounting.

Answer: B,C,D

NEW QUESTION # 69
On a primary ledger in the system options close section, the following field has been selected 'Prevent General Ledger Period Closure When Open Subledger Periods Exist'.
For which three subledgers can you opt out of the period close checking feature by using the lookup ORA_GL_INCLD_STRICT_PRD_CLOSE? (Choose three.)

A. Revenue Management
B. Order Management
C. Receivables
D. Receipt accounting
E. Assets

Answer: C,D,E

Explanation:
According to Oracle documentation3, you can opt out of the period close checking feature for these three subledgers by using the lookup ORA_GL_INCLD_STRICT_PRD_CLOSE: Receipt accounting, Receivables, and Assets. The period close checking feature prevents you from closing a General Ledger period if there are any open subledger periods that exist for that ledger. You can opt out of this feature for specific subledgers by using the lookup ORA_GL_INCLD_STRICT_PRD_CLOSE and setting the Enabled flag to No for those subledgers. Therefore, options A, B, and D are correct. Option C is incorrect because Revenue Management is not a subledger that can be opted out of the period close checking feature. Option E isincorrect because Order Management is not a subledger that can be opted out of the period close checking feature.

NEW QUESTION # 70
......

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