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Oracle 1z0-1087-23 Oracle Account Reconciliation 2023 Implementation Professional Exam Practice Test

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Total 79 questions
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Oracle Account Reconciliation 2023 Implementation Professional Questions and Answers

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Question 1

Which two conditions can make a profile invalid? (Choose two.)

Options:

A.

The Normal Balance setting does not match the account type.

B.

No preparer is assigned on the Workflow tab.

C.

No currency buckets are enabled.

D.

Aging limits have not been specified.

Question 2

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

Options:

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.

Question 3

An error occurs during an import transactions job for a match type. What is the result of the job?

Options:

A.

The job deletes all match type transactions, and the job status is set to Failed and Deleted,

B.

Successfully imported transactions are committed to the system, failed transactions are logged, and the job status is set to Completed with Errors.

C.

The entire import is rolled back, and the job status is set to Failed.

D.

The transactions are not imported, the match type is locked, and the job status it set to Failed and Locked.

Question 4

To which do you assign Holiday Rules?

Options:

A.

profiles

B.

calendars

C.

organizational units

D.

periods

Question 5

Which statement is FALSE regarding user-defined attributes?

Options:

A.

You can no longer add/edit attributes after reconciliations are created.

B.

They can be added to formats, profiles, and transactions.

C.

They can include calculated values.

D.

You can assign access to attributes by user role.

Question 6

Which statement is always true of data loads from Data Management?

Options:

A.

You must select either Actual or Budget as the scenario for the data.

B.

You cannot load data into reconciliations with a status of Closed.

C.

Only users with the administrator role can run data loads.

D.

If there is no change in the balance, the reconciliation is not updated.

Question 7

You want the holidays to be skipped when scheduling due dates for reconciliations for an organizational unit. What should you do?

Options:

A.

Edit the due date in the reconciliations for the organizational unit.

B.

Create a holiday rule and assign it to the organizational unit.

C.

Create a calendar and assign it to the organizational unit.

D.

Add a rule to the Rules tab of the profiles for the reconciliations.

Question 8

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

Options:

A.

create journal columns

B.

map journal columns to data source attribute columns

C.

define data source filters

D.

create journal templates

Question 9

Which statement about loading pre-mapped balances is FALSE?

Options:

A.

You can drill back to the ERP from the reconciliation screen.

B.

You must select a currency bucket for the import.

C.

You must select a period to which to load the balances.

D.

You can import from either tab separated or comma separated files.

Question 10

Which three fields are required in a load file for pre-mapped balances?

Options:

A.

Currency Code

B.

Currency Bucket

C.

Period

D.

Reconciliation ID

E.

Entity

F.

Amount

Question 11

What happens when you load balances to a reconciliation with the status Closed or Open With Reviewer and the balance is different than what was already Certified?

Options:

A.

The status reverts to Pending.

B.

The import fails.

C.

The status reverts to Open with Preparer.

D.

The status is unchanged but a notification is sent to the related users.

Question 12

Which two are properties of the organizational unit? (Choose two.)

Options:

A.

work days

B.

calendar

C.

language

D.

tax jurisdiction

Question 13

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

Options:

A.

Balance Comparison

B.

Transaction Matching

C.

Variance Analysis

D.

Account Analysis

Question 14

Where can a service administrator navigate to view, by user, how many reconciliations were completed on time, how many are late, and how many were rejected?

Options:

A.

Reconciliations List

B.

Overview Dashboard

C.

Compliance Dashboard

D.

Worklist

Question 15

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

Options:

A.

prepare reconciliations

B.

execute automation like Automatic Recon and Rules

C.

load balances

D.

confirm suggested matches

Question 16

Which statement regarding user-defined attributes is FALSE?

Options:

A.

You can assign access by user role.

B.

They can include calculated values.

C.

They can be assigned default value.

D.

You can no longer add/edit attributes after reconciliations are created.

Question 17

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?

Options:

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.

Question 18

Which three types of reconciliations are suitable for the Transaction Matching feature? (Choose three.)

Options:

A.

reconciliations with a single data source, like a clearing account

B.

reconciliations that are typically zero balance accounts with low activity

C.

reconciliations that have amortizing transactions

D.

reconciliations with 2 or more data sources, like a cash or accounts receivable account

E.

accounts with high volumes of data

Question 19

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

Options:

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.

Question 20

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

Options:

A.

Select the data source to adjust.

B.

Select an Adjustment Type.

C.

Enter an adjustment amount.

D.

Enter a date for the adjustment.

Question 21

You want to load balances for both the Entered currency bucket and the Functional currency bucket in a single data load.

Which tool should you use?

Options:

A.

‘Import pre-mapped balances’ option in the Periods page

B.

Data Management data load rule

C.

Smart View

D.

Supplemental Data Management form

Question 22

What happens to a reconciliation if a team member who prepared the reconciliation is deleted from the team at a later point of time?

Options:

A.

Changes made by the deleted member are reassigned to the primary member of the team for review and approval,

B.

The reconciliation is flagged as invalid and needs to be re-created by the administrator.

C.

Changes made by the deleted member are reverted and the deleted member is removed from the reconciliation as preparer.

D.

Changes made by the deleted member are kept intact and the deleted member still appears as the original preparer.

Question 23

Which two attribute types are required for each data source? (Choose two.)

Options:

A.

Key Field

B.

Accounting Date

C.

Calculation

D.

Balancing Attribute

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