1Z0-1054-20Oracle Financials Cloud: General Ledger 2020 Implementation Essentials
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1Z0-1054-20 Online Practice Questions and Answers
Your customer has enabled budgetary control for purchase orders. They have a purchase order for $1,000 USD which is fully reserved. An invoice for $600 is entered and matched to the purchase order, and the purchase order is closed for further invoicing.
What happens to the remaining $400 USD?
A. Only obligation type will have $400 USD funds available
B. Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of $400 USD
C. $400 USD will be added back to available funds
D. Invoice type will have less funds available by $400 USD
E. $400 USD will be expired and not available for use
You are setting up Close Monitor, which comprises a ledger set hierarchy definition.
Which two components of the enterprise structure should the ledgers in the ledger set share? (Choose two.)
A. Accounting Calendar
B. Legal Entities, Business Units, and Chart of Accounts
C. Chart of Accounts
D. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method
E. Chart of Accounts and Business Units
You are defining intercompany balancing rules that are applied to a specific source and category, such as payables and invoices, or a specific intercompany transaction type, such as Intercompany Sales.
Which two statements are correct? (Choose two.)
A. Set up a chart of accounts rule for every chart of accounts structure you have to ensure that Intercompany Balancing will always find a rule to use to generate balancing accounts.
B. You can create a rule for all sources and categories by selecting the source "Other" and the category "Other".
C. If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value.
D. You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work.
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