1Z0-960 Online Practice Questions and Answers

You are reconciling your Payables the Receivables balances against the General Ledger. You are using the Payables to Ledger Reconciliation report. You notice discrepancies between thebalances in the subledgers, subledger accounting, and general ledger.

Which three factors are responsible for these out-of-balance situations?

A. All sub ledger transactions have been entered but do not have complete accounting.

B. Subledger transactions have been accounted and transferred to General Ledger but have not been posted.

C. There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.

D. Intercompany transactions have not been fully processed.

E. Period Close processes,such as Revaluation, Translation, and Consolidation have not beenperformed yet

You are defining intercompany balancing rules that are applied to a specific source and category, such as payables and invoices, or a specific intercompany transaction type, such as Intercompany Sales.

Which two statements are correct?

A. You must define rules for every combination of specific categories and sources. Otherwise, theintercompany balancing will not work.

B. You can create a rule for all sources and categories by selecting the source "Other" and the category "Other."

C. If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value.

D. Set up a chart of accounts rule for every chart of accounts structure you have in order to ensurethat Intercompany Balancing will always find a rule to use to generate balancing accounts.

You want to prevent intercompany transactions from being entered during the last day of the close. What should you do?

A. Close all subledger periods.

B. Close Intercompany periods in Fusion Intercompany.

C. Freeze the Intercompany Journal source in General Ledger.

D. Close the General Ledger period in the Manage Accounting Periods page.

Most of the accounting entries for transactions from your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.

At what level can you override the default accounting attribute assignment?

A. Event Type

B. Journal Line Rule

C. Event Class

D. Journal Entry Rule Set

E. Journal Entry

After loading your budget data into Fusion General Ledger, you can view budget balances using these

feature.

Which feature does not belong on the list?

A. Application Development Framework Desktop Integration(ADFdi)

B. Account Inspector

C. Account Monitor

D. Smart View

You want to automatically post journal batches imported from subledger source to prevent accidental edits of deletions of the subledger sources journals, which could cause an out - of-balance situation between your sub ledgers and general ledger.

Which two aspects should you consider when defining your AutoPost Criteria?

A. Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process.

B. Include all of your sub ledger sources in the AutoPost Criteria. Divide up criteria sets by subledger source only if you need to schedule different posting times.

C. Create your AutoPost criteria using minimal source and categories.

D. Schedule your AutoPost Criteria set to run during off-peak hours only

You are implementing Segment Value Security rules. Which two statements are true?

A. You can use hierarchies to define rules.

B. The Segment Value Security rules do not take effect until you assign the rules to users and products.

C. When you enable Segment Value Security on a segment, users will not be able to access any values until you grant access to users and products.

D. When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts.

Before implementing Fusion Financials, your customer used to manually reconcile their intercompany payables and receivables accounts.

What is a more automated approach to do this?

A. Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances.

B. Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances.

C. Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance.

D. In Fusion Financials, you must manually reconcile your intercompany account balances.

E. Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances.

You are required to change today's daily rates for converting GBP to USD. What are three ways in which you can update existing daily rates?

A. Use the spreadsheet loader from the Currency Rates Manager.

B. Import daily rates through the Daily Rates open interface table.

C. Update rates manually using the Currency Rates Manager, which can be accessed only from the Functional Setup Manager

D. Update rates manually using the Currency Rates Manager, which can be accessed from the Functional Setup Manager or the General Ledger's Period Close work area.

E. Edit existing transactions and update the rates manually.

You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file, along with the customer classification information. You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts.

What is the solution?

A. Use the Open Account Balances Listing report that has balances by customer.

B. Use the Third Party Control Account feature.

C. Use Supporting References to capture customer classification information.

D. Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).

Your user forgot the password. How do you resolve this?

A. Use the Manage Users page to update the user's information and change the password.

B. Use Oracle Identity Management (OIM) to reset the user's password.

C. Log in to the user's machine as an Administrator and change the password from the login pa

D. Use Access Policy Manager (APM) to reset the user's password.

E. Create a new user ID and password for the user.

You need to create a month-end re-porting package for an upcoming Audit Committee meeting. You have 10 financial reports that you will need to share with executives and auditors.

In which three ways do you accomplish this?

A. Using Workspace, assemble multiple reports into a book.

B. Use a Report Batch to run reports at a specific time to create set of snapshot reports based on accounting information at that specific point in time.

C. Users can drill down on snapshot reports for future analysis.

D. The report contained in the book can be printed or viewed individually or as an entire book thatincludes a table of contents.

E. Snapshot reports can only be viewed online.

Your customer wants to control spending against an annual budget but report balances on a monthly yearto-date basis. Encumbrance accounting is also in use.

What setup is required to achieve this requirement?

A. Create an annual budget with absolute control and so encumbrance accounting will work.

B. Create a summary budget annually with advisory control and control budget monthly with absolute control.

C. Create a Summary budget annually with absolute* control and monthly control budget with advisory or track control.

D. Create two detail control budgets: annually with absolute control and monthly with advisory or track control.

E. Create two detail control budgets: annually with advisory/track control and monthly with absolute control.

Which two types of journals can be automatically routed through the journal approval process?

A. Allocation journals

B. Revaluation journals

C. Manual journals

D. Sub ledger journals

E. Journals imported from third-party systems

You want to be notified of anomalies in certain account balances in real time. What is the rnost efficient way to do this?

A. Perform an account analysis online.

B. Open a Smart View file saved on your desktop.

C. Create an Account Group using Account Monitor.

D. Use Account Inspector.