Oracle Account Reconciliation 2020 Implementation Essentials v1.0 (1z0-1087-20)

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Total 60 questions

You are using EPM Automate commands to automate data load to Account Reconciliation.
In which scenario should you use EPM Automate to load the data through Data Management rather than directly into Account Reconciliation?

  • A. Your data includes fields with blank values.
  • B. You are loading data to the Reporting currency bucket.
  • C. You are loading more than 1000 transactions.
  • D. You want to import one concatenated field from the source file, rather than two separate fields.


Answer : B

Which reconciliation method is appropriate for a prepaid insurance reconciliation that explains the current month balance?

  • A. Balance Comparison
  • B. Transaction Matching
  • C. Variance Analysis
  • D. Account Analysis


Answer : A

Reference:
https://docs.oracle.com/en/cloud/saas/account-reconcile-cloud/adarc/GUID-3B2518AE-A5E5-44CD-A032-5CB119F087FE.pdf
(4-20)

Which three statements are true about importing transaction matching transactions from the Jobs page? (Choose three.)

  • A. You select a separate load file for each data source.
  • B. You can select comma or tab for delimiter, or enter a user-defined delimiter.
  • C. You can import transactions to a match type only if its status is Pending.
  • D. Auto-match can run automatically after the import is finished.
  • E. You must select a match type for the import.


Answer : CDE

Reference:
https://docs.oracle.com/en/cloud/saas/account-reconcile-cloud/raarc/reconcile_trans_match_create_run_jobs_104x6dc77eb2.html

To which do you assign default currencies?

  • A. currency buckets
  • B. account ids
  • C. organizational units
  • D. formats


Answer : A

Reference:
https://docs.oracle.com/en/cloud/saas/account-reconcile-cloud/suarc/setup_profile_currency_create_132xd5cdfe3e.html

You are a preparer with the User role and you are going on vacation.
How can you assign responsibility for reconciliations currently open with you to the backup preparer?

  • A. In the Workflow tab of the reconciliations, select a backup preparer in the Backup Preparer field.
  • B. In User Preferences, change your status to Out of Office.
  • C. In the Actions menu of the reconciliations, select Request Reassignment.
  • D. Click the Release button in the reconciliations to release it to the other team members.


Answer : A

Reference:
https://docs.oracle.com/en/cloud/saas/account-reconcile-cloud/adarc/admin_recons_edit_100xd76326fc.html

What results if you load balances using Data Management to a period to which you previously imported pre-mapped balances?

  • A. The Data Management data load fails.
  • B. You are prompted whether to overwrite the pre-mapped balances.
  • C. The balances loaded through Data Management overwrite the pre-mapped balances.
  • D. The reconciliation takes the balances loaded through Data Management and the pre-mapped balance load, and totals them.


Answer : C

Reference:
https://docs.oracle.com/en/cloud/saas/account-reconcile-cloud/adarc/admin_import_premapped_balances_102xfdf77b0f.html

Which two statements are true about Group reconciliations? (Choose two.)

  • A. Group reconciliations include other individual reconciliations as children.
  • B. You cannot use Data Management to import balances for group reconciliations.
  • C. The format for the reconciliation must be enabled for Group Reconciliation.
  • D. The Group Detail tab shows data for the group reconciliation sub segments.
  • E. You can import balances into periods as pre-mapped data.


Answer : CE

You are creating a matching rule, and you want transactions that are within the specified tolerance range to be matched automatically, with no need for further user review.
Which option should you choose for the Match Status?

  • A. Suggested
  • B. Auto Approve
  • C. Auto Submit
  • D. Confirmed


Answer : B

Reference:
https://docs.oracle.com/en/cloud/saas/account-reconcile-cloud/suarc/GUID-52A3F1EF-7D35-41F5-A284-861268631470.pdf
(5-9)

Which statement is true for profiles that have a Quarterly frequency selected?

  • A. They must be assigned a quarterly calendar.
  • B. You cannot create reconciliations for profiles with transaction matching reconciliation methods for quarterly periods.
  • C. You can create reconciliations for those profiles only in periods that have Quarterly frequency selected.
  • D. The balances for quarterly reconciliations aggregate the balances from monthly reconciliations.


Answer : C

Explanation:
You begin the reconciliation process for each period by creating reconciliations. You can create reconciliations for all account profiles, or for a filtered list of profiles. The profile frequency, such as monthly or quarterly, must match the period frequency.

What happens when you select the Key option for a data source attribute?

  • A. Transactions with the same key attributes cannot be loaded.
  • B. The attribute is hidden from users.
  • C. Transactions are sorted by the attribute.
  • D. Values are required for the attribute.


Answer : D

Which two are tasks you can perform when confirming suggested matches with adjustments in the Suggested Matches list? (Choose two.)

  • A. Select the data source to adjust.
  • B. Select an Adjustment Type.
  • C. Enter an adjustment amount.
  • D. Enter a date for the adjustment.


Answer : AB

Reference:
https://docs.oracle.com/en/cloud/saas/account-reconcile-cloud/raarc/reconcile_trans_match_confirm_suggested_102x6d3e231b.html

Which is NOT a step in the process for reconciliation compliance?

  • A. prepare reconciliations
  • B. execute automation like Automatic Recon and Rules
  • C. load balances
  • D. confirm suggested matches


Answer : D

Reference:
https://docs.oracle.com/en/cloud/saas/account-reconcile-cloud/raarc/get_start_overview_process_102xfae1510c.html

Which is NOT a step in configuring journals in Transaction Matching?

  • A. create journal columns
  • B. map journal columns to data source attribute columns
  • C. define data source filters
  • D. create journal templates


Answer : D

Reference:
https://docs.oracle.com/en/cloud/saas/account-reconcile-cloud/suarc/GUID-52A3F1EF-7D35-41F5-A284-861268631470.pdf
(10-2)

How can you configure a profile for reconciliation compliance to show the variance between a current period balance and a prior period balance in a separate workflow from the reconciliation?

  • A. On the currency tab, enable a currency bucket for that prior period balance.
  • B. Add a rule to the Rules tab.
  • C. Select a format with the Variance Analysis reconciliation method for the profile.
  • D. Create a calculated attribute to compare the prior period balance to the current period balance and add it to the profile.


Answer : C

Reference:
https://docs.oracle.com/en/cloud/saas/account-reconcile-cloud/suarc/GUID-52A3F1EF-7D35-41F5-A284-861268631470.pdf

When can you run auto-matching for a transaction matching reconciliation?

  • A. after you load transactions to the reconciliation data sources
  • B. after the period end date is reached
  • C. after the reconciliation meets its start date
  • D. after the reconciliation status changes to Open With Preparer


Answer : A

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Total 60 questions