Free Oracle 1Z1-1024 Exam Dumps Questions & Answers

Identify two purposes of Sub ledger Accounting.

• A.  to obtain detailed information for audit purposes since all sub ledger accounting is at the detail level
• B.  to maintain backward compatibility
• C.  to calculate costs for transactions
• D.  to create accounting strings that can be viewed and corrected just before they are transferred to the General Ledger
• E.  to centralize accounting string generation across all modules

Which two outcomes can happen in create accounting when an account combination returned is end dated?

• A.  An error will always occur.
• B.  An alternate account will be used if provided.
• C.  The preprocessor will pre-warn about this error.
• D.  Suspense accounts cannot be used.
• E.  The original account is stored on the journal line.

A chart of accounts (COA) must be specified on the accounting method for which two situations?

• A.  Every accounting method should have a COA.
• B.  When using segment rules
• C.  When using account combination rules
• D.  When account combination rules use constants
• E.  When using ledgers that have unique accounting requirements

An invoice is created in a foreign currency. The invoice is not paid until several weeks later. By then, the currency conversion rate has changed.
How do you get the journal line rule to calculate the gain or loss?

• A.  Turn on the Subledger Gain or Loss Option.
• B.  Create a secondary ledger to track gain/loss.
• C.  Subledger Accounting is already set up to process it.
• D.  Create a foreign reporting currency to track gain/loss.

Your client is using Quick Setup to implement Costing. They have a requirement to track costs for manufacturing overhead. How can you make sure that this requirement is met?

• A.  Create the cost in Manage Cost Scenarios.
• B.  You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.
• C.  Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.
• D.  This requirement will already be met by the default data generated when using Quick Setup.