Free Oracle 1Z1-1004 Exam Dumps Questions & Answers

You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment.
What is Oracle's recommended method to define this chart of accounts?

• A.  Define two different charts of accounts
• B.  Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance
• C.  Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level
• D.  Define the company segment only and qualify it as both the primary balancing segment and intercompany segment

When working with Essbase, versions of the tree hierarchy as defined in the General Ledger Cloud are not available in the Essbase balances cube. What should you do to correct this situation?

• A.  Make sure to flatten the rows of the tree version
• B.  Make sure the tree version was published successfully
• C.  Redeploy the chart of accounts
• D.  Make sure the tree is active

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

You want to monitor the close process of all your financial subledgers and ledgers. How can you quickly obtain this information?

• A.  Run Closing Status reports
• B.  Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period
• C.  Use the Manage Accounting Periods page to view the status of all subledgers and ledgers
• D.  Use Close Monitor in General Accounting Dashboard

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.  Use Oracle Hyperion Financial Management for this type of complex consolidation.
• B.  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.
• C.  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.
• D.  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