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  5. 1z0-1087-23 - Oracle Account Reconciliation 2023 Implementation Essentials

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

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Oracle Account Reconciliation 2023 Implementation Essentials Questions and Answers

Question 1

In a reconciliation profile, the Account Payable Reviewers team is assigned as the reviewer, and you want to require that ALL team members approve the reconciliation.

Which action should you perform?

Options:

A.

In the Instructions tab of the profile, add instructions for all team members to review the reconciliation.

B.

On the Workflow tab of the Profile, select All Reviewers in the Require Action By field.

C.

Add a rule of the type Require Team Review to the Rules tab.

D.

Do not select a Primary User for the Account Payable Reviewers team.

Question 2

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?

Options:

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.

Question 3

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 4

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

Options:

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

Question 5

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 6

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

Options:

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.

Question 7

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

Options:

A.

work days

B.

calendar

C.

language

D.

tax jurisdiction

Question 8

You want to require that preparers answer a question certifying that they followed the company accounting policies in preparing the reconciliation.

Where do you add the questions?

Options:

A.

to the match type

B.

to the profile

C.

to the reconciliation

D.

to the format

Question 9

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 10

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 11

For which scenario could a match type with a single data source be appropriate?

Options:

A.

matching credits and debits for a clearing account

B.

intercompany matching

C.

matching bank and point-of-sale transactions

D.

variance analysis for current and prior period balances

Question 12

Which ability does NOT belong to users with the Power User role?

Options:

A.

edit formats to which they are assigned access

B.

prepare reconciliations

C.

review reconciliations

D.

edit profiles to which they are assigned access

Question 13

Which two are tasks that can be performed using EPM Automate? (Choose two.)

Options:

A.

set period status

B.

import premapped data

C.

export balances

D.

export journals

Question 14

Which statement is FALSE about calendars?

Options:

A.

Calendars are associated with periods and organizational units.

B.

One period may have many calendars to reflect different date configurations for the period.

C.

An organizational unit can be assigned many calendars to enable reconciliations for different financial dates.

D.

Calendars set the dates and frequencies for each period.

Question 15

To which do you assign Holiday Rules?

Options:

A.

profiles

B.

calendars

C.

organizational units

D.

periods

Question 16

When a user requests that responsibility for a reconciliation be reassigned to John, who is another regular user, John should be able to approve the request.

How can this be configured?

Options:

A.

In his User Preferences, John should select the Approve Reassignments option.

B.

Add John to the Reassignment Approvers security group.

C.

On the Reassignment Requests tab in System Settings, in the Allow Reassignment Request Approval By option, select Users.

D.

On the Manage Users tab of the Access Control page, assign John the Reassignment Approvers role.

Question 17

Which rule runs during the post-processing of data loads?

Options:

A.

Send Email On Update

B.

Create Reconciliations

C.

Copy Transactions

D.

Auto Match Transactions

E.

Auto Submit Reconciliation

Question 18

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 19

Which two rule types are available in profiles? (Choose two.)

Options:

A.

Flag As Needs Attention

B.

Auto Approve Reconciliation

C.

Require Reconciliation Attachment

D.

Delete Reconciliation

E.

Copy Transactions from Prior Reconciliation

Question 20

Which is the minimum user security role required to edit profiles?

Options:

A.

Service Administrator

B.

User

C.

Power User

D.

Viewer

Question 21

Which two statements are true about match types with Pending status?

Options:

A.

You can edit the data sources attributes.

B.

You can load data to Pending reconciliations for the match type.

C.

You can perform matching on reconciliations for the match type.

D.

You cannot edit the matching rules.

Question 22

Which is NOT an attribute type for reconciliation compliance attributes?

Options:

A.

Yes/No

B.

True/False

C.

Number

D.

Location

Question 23

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.

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