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

Which two are prerequisites for creating subledger accounting entries?

A. Completing accounting transformation definition and activating Subledger Journal Entry Rule Set assignments for the Accounting Method

B. Populating supporting reference information in reference objects

C. Selecting source values from transaction objects

D. Creating subledger accounting events

E. Completing preaccounting validation

Your new accountants have been making mistakes in reconciling accounts assigned to them. Yourbalances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation.

What feature can you use to be proactively notified of account anomalies in a more timelymanner?

A. Smart View

B. Financial Reports with Embedded charts

C. Account Monitor

D. Account Inspector and its charts

While troubleshooting the encumbrance entries created for the requisition for your business unit, you noticed that only a few events are triggering the encumbrance journals when you submit he create accounting program.

What are the two events?

A. Funds check

B. Requisition approved

C. Requisition rejected by the buyer

D. Submit the requisition for approval

E. Checkout and Save the requisition

F. Create change request on the requisition after submitting requisition for approval

Identify three functions of Functional Setup Manager.

A. Provide a central place to access and perform all of the setup steps across Fusion application product

B. Automatically generate lists of setup tasks in the correct sequence with dependencies highlighted.

C. Automatically mark the status of tasks as Completed after they have been completed.

D. Assign setup tasks to individuals with due dates where users must manually update their completion status.

E. Centrally manage the close processes across subledgers and ledgers.

You want to monitor the dose process of all your financial subledgers and ledgers. How can you quickly obtain this information?

A. Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period.

B. Use the Manage Accounting Periods page to view the status of all subledgers and ledgers.

C. Use Close Monitor in General Accounting Dashboard.

D. Run Closing Status reports.

Your customer is expanding its operations. You defined a new ledger and several business units. However, you are unable to assign the newly generated data roles to existing Accounts Payables and Accounts Receivables users in the shared service center.

What should you do to correct the problem?

A. Open the Oracle Identity Management (OIM) and make sure the data roles were created.

B. Open the Manage Users page and make sure the employees at

C. Open Access Policy Manager (APM) and assign the roles manually

D. Make sure you run the Retrieve Latest LDAP Changes program to regenerate the data roles.

You need to build a complex account rule. Which four value types can you use in your definition?

A. Value Set

B. Constant

C. Existing Account Rule

D. Account Combination

E. Mapping Set

F. Source

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.

Your customer has a large number of legal entities. The legal entity values are defined in the company segment and the primary balancing segment. They want to easily create eliminating entries for the intercompany activity.

What should you recommend?

A. Define an intercompany segment in the chart of accounts. The Intercompany module and the intercompany balancing feature in general ledger and sub ledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading.

B. There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.

C. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment.

D. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the Intercompany rules you define.