Free Oracle 1Z0-1054-24 Exam Questions

Become Oracle Certified with updated 1Z0-1054-24 exam questions and correct answers

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Total 170 Questions | Updated On: May 06, 2025

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Question 1

All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships. What is Oracle’s recommended approach to performing consolidations?

A : Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program

B : Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger’s Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.

C : Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then creates a ledger set across all ledgers and report on the ledger set.

D : Use Oracle Hyperion Financial Management for this type of complex consolidation.

Answer: A

Question 2

Your company has a legal entity in the UK, US, and CanadA. They can all share the same chart of accounts

but are required to transact and report in their local currency.

What is the minimum number of ledgers you need and why?

A : One, because they can all share the same chart of accounts

B : Three, because each requires a different currency

C : Two, because the US and Canada can share the same ledger because they are in North America

D : Four, because the UK has statutory requirements and you will need a separate ledger for statutory reporting

Answer: B

Question 3

You are setting up Close Monitor and want to view high-level profit and loss results for each ledger. What should you associate with the ledger set to achieve this?

A : OTBI report

B : Financial Reporting Web Studio report

C : Account group

D : Trial Balance report

Answer: B

Question 4

When constructing a new chart of accounts instances, it has been decided to control the list of values within certain segments, with the use of related value sets. When defining new related value sets, which three configuration steps should be considered?

A : Link two value sets together

B : Use independent validation type value sets only

C : Order of the segments determines filtering sequence

D : Use table validated type value sets only

E : Link multiple value sets together

F : Order of the segments does not determine filtering sequence.

Answer: A,B,C

Question 5

Which two statements are true about infotiles and infolets?

A : You can refresh infolets to see up-to-date data.

B : Infotiles pull data from a Smart View analysis.

C : Infolets are accessed only from the News Feed home page layout.

D : You can create your own user-defined infolets.

E : Infotiles have Front view. Back view, and Expanded view.

Answer: A,C

Page: 1 / 34

Total 170 Questions | Updated On: May 06, 2025

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