1Z0-1054-21 Exam Dumps | Your customer wants to have balance sheets and income statements for their cost center and program segments.

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Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
Oracle.1Z0-1054-21.v2022-07-06.q47
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Question 2/47

Your customer wants to have balance sheets and income statements for their cost center and program segments. That is, the customer wants to have three balancing segments. Which two recommendations would you give your customer? (Choose Two)

A. Define Leger balancing options to balance by second and third balancing segments.

B. When entering Journals manually, the customer will need to make sure that the debits and credits are equal across all balancing segments because the system will not automatically balance is journal.

C. Additional intercompany rules will need to be defined for the two additional balancing segments.

D. Every Journal where debits do not equal across the three balancing segments will result in the system generating extra journal lines to balance the entry.

Correct Answer: B,C

Maintain Segment Value Attributes
Segment Labels: Explained
Segment labels identify certain segments in your chart of accounts structure and assign special functionality to those segments. Segment labels were referred to as flexfield qualifiers in Oracle E- Business Suite (EBS). Best practice is to assign each segment label one time within the chart of accounts structure. Here are the segment labels that are available to use with the chart of accounts structure.
Caution: Validations are not performed when segment labels are assigned, so verify that all are assigned correctly before using your chart of accounts.
Balancing
Ensures that all journals balance for each balancing segment value or combination of multiple balancing segment values. You can secure access to your primary balancing segment values only with data access sets. The general ledger application automatically calculates and creates balancing lines as required in journal entries. For example, recognizing an entity's receivable and the other entity's payable. There are three balancing segment labels: primary, second, and third balancing. The primary balancing segment label is required
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