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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q17-Q22):

NEW QUESTION # 17
Your ledger currency is USD. At month end you have a balance on the Accounts Payable Liability Account of
100,000 Euros which is equivalent to USD 136,550. This balance needs to be revalued.
The month end exchange rate for revaluation is 1 Euro = 1.3755 USD.
What two statements are true for the resulting revaluation run? (Choose two.)

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

Answer: A,D

Explanation:
The two true statements for the resulting revaluation run are that you have an unrealized exchange gain recorded and you have an unrealized exchange loss recorded. Revaluation is a process that adjusts foreign currency balances to reflect current exchange rates at period end. Revaluation creates journal entries to record unrealized exchange gains or losses on foreign currency balances based on revaluation rates defined for each currency. In this scenario, you have a balance on the Accounts Payable Liability Account of 100,000 Euros which is equivalent to USD 136,550 at month end. The month end exchange rate for revaluation is 1 Euro =
1.3755USD. Therefore, after revaluation, your balance on the Accounts Payable Liability Account will be USD 137,550 (100,000 x 1.3755). This means you have an unrealized exchange gain of USD 1,000 (137,550
- 136,550) on your Accounts Payable Liability Account because your liability in foreign currency has decreased in terms of your ledger currency due to exchange rate fluctuations. Revaluation will create a journal entry to debit your Accounts Payable Liability Account by USD 1,000 and credit your Unrealized Exchange Gain Account by USD 1,000 to record this gain. The original journal entry in Euros is not updated by revaluation, as revaluation only creates new journal entries to adjust foreign currency balances in terms of ledger currency based on revaluation rates. There is no unrealized exchange gain or loss calculated by revaluation, as revaluation does calculate unrealized exchange gains or losses on foreign currency balances based on revaluation rates.

NEW QUESTION # 18
For translation purposes, the Financials reporting team has decided to load the monthly Historical currency rates by using File-Based Data Interface (FBDI).
What happens to the existing historical rate for a specific ledger, currency, account combination, and accounting period if they use insert in the spreadsheet?

A. Historical rates are converted into an average rate (original and new rate).
B. The existing historical rate is deleted.
C. The historical rate is replaced.
D. Nothing, existing historical rates are not updated.

Answer: C

Explanation:
If you use insert in the spreadsheet to load the monthly historical rates by using FBDI, the existing historical rate for a specific ledger, currency, account combination, and accounting period will be replaced by the new rate. This is because the insert action will overwrite the existing rate with the new rate in the GL_HISTORICAL_RATES_INT table. If you want to preserve the existing rate, you should use update or delete actions instead. References:
* How Historical Rates Import Data Is Processed, Section: Use the Historical Rates Import file-based data import (FBDI) template to import historical rates from external and legacy sources to Oracle General Ledger
* Import Historical Rates, Section: Details
* Entering Historical Rates, Section: Entering Historical Rates

NEW QUESTION # 19
Your company hascomplex consolidation requirementswithmultiple general ledger instances. You are usingOracle Hyperion Financial Managementto consolidate the disparateGeneral Ledgers.
You can typically map segments between yourgeneral ledger segmentto aHyperion Financial Management segment, such as:
* Company to Entity
* Department to Department
* Account to Account
What happens to segments in yoursource general ledger, such asProgram, thatcannot be mappedto Hyperion Financial Management?

A. Data is summarized across segments that are not mapped to Hyperion Financial Management.
B. Errors occur for unmapped segments. You must map multiple segments from source general ledgers to the target segment in Hyperion Financial Management.
C. The data is not transferred.
D. The unmapped segments default tofuture use segmentsin Hyperion Financial Management.

Answer: A

NEW QUESTION # 20
You have a requirement to have invoices generated for certain Intercompany transactions.
Where do you enable invoicing?

A. the transaction source
B. the transaction batch
C. the transaction type
D. the transaction category

Answer: C

Explanation:
According to Oracle documentation2, you enable invoicing for certain Intercompany transactions on the transaction type. The transaction type defines the characteristics of an intercompany transaction, such as whether it requires approval, whether it generates invoices, and what accounting rules apply. You can enable invoicing for a transaction type by selecting the Invoicing Options tab and choosing the invoice method, invoice source, invoice batch source, and invoice rule. Therefore, option D is correct. Option A is incorrect because you do not enable invoicing on the transaction batch. Option B is incorrect because you do not enable invoicing on the transaction category. Option C is incorrect because you do not enable invoicing on the transaction source.

NEW QUESTION # 21
On a primary ledger in Use system options close section, the following field has been selected:
'Prevent General Ledger Period Close When Open Subledger Periods Exist'.
What three exceptions will prevent closing of the accounting period?

A. No pending transaction in the General Ledger Interface table
B. Pending Intercompany Transactions
C. Pending Transaction in General Ledger Interface
D. Intercompany Transactions are completed

Answer: B,C,D

NEW QUESTION # 22
......

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Quiz 2025 Oracle 1z0-1054-24–Trustable Detailed Study Dumps

100% Pass High-quality 1z0-1054-24 - Oracle Financials Cloud: General Ledger 2024 Implementation Professional Detailed Study Dumps

Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q17-Q22):

2025 1z0-1054-24 Detailed Study Dumps Free PDF | Valid Test 1z0-1054-24 Dumps: Oracle Financials Cloud: General Ledger 2024 Implementation Professional

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