Oracle 1Z0-1087-23 Exam - Free questions
Oracle Account Reconciliation 2023 Implementation Professional
1Z0-1087-23 Free questions
Here you can find Oracle Account Reconciliation 2023 Implementation Professional exam free sample questions which will help you to prepare for your upcoming certification test. These questions will give you an idea of what to expect on the exam and help you review the 1Z0-1087-23 study material.
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Question No. 1) Which statement is FALSE about reconciliations that use the Transaction Matching Only reconciliation method?
A) They display in both the Reconciliations list and the Matching list.
B) They do not participate in period-end compliance workflow.
C) They do not need to be created for periods.
D) You must create profiles for them.
Question No. 2) 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 balance load, and totals them. pre-mapped
Question No. 3) Which statement is FALSE about the review process in reconciliation compliance?
A) Reviewers are sent notifications.
B) You can have up to seven levels of review.
C) You can assign backup reviewers.
D) You can assign a team as reviewer.
Question No. 4) A team has been assigned as the preparer for a reconciliation, and one team member is designated as the primary user. What characterizes the primary user?
A) The system automatically re-assigned the reconciliation to the primary user when the current preparer is out of the office.
B) The primary user must approve the reconciliation before the preparer submits the reconciliation.
C) The primary user can edit the reconciliation properties.
D) The system automatically claims the reconciliation for the primary use when the reconciliation status changes to Open (with preparer).
Question No. 5) 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.
Question No. 6) Which statement is FALSE about the profile segments?
A) You cannot change the profile segments after you have loaded profiles.
B) The profile segments control the mapping of balances to reconciliations.
C) The profile segments are configured as part of the system attributes,
D) The profile segments specify the level at which the organization reconcile account balances.
Question No. 7) 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?
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 No. 8) Which three types of reconciliations are suitable for the Transaction Matching feature? (Choose three.)
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 No. 9) Which ability does NOT belong to users with the Power User role?
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 No. 10) Which statement is FALSE about reconciliations when the period is Closed?
A) Preparers can submit reconciliations with Open status.
B) Reviewers can approve reconciliations under review.
C) Reconciliations with Pending status can start.
D) You can load data to reconciliations for the period.
Question No. 11) For which scenario could a match type with a single data source be appropriate?
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 No. 12) 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.
Question No. 13) Which rule runs during the post-processing of data loads?
A) Send Email On Update
B) Create Reconciliations
C) Copy Transactions
D) Auto Match Transactions
E) Auto Submit Reconciliation
Question No. 14) 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.
Question No. 15) 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?
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 No. 16) 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
Question No. 17) Which statement about journals in transaction matching is FALSE?
A) You create separate journal column mappings for adjustments and transactions.
B) For transactions, you can apply a data source filter to the export.
C) You create separate journal columns for each match type.
D) For adjustments, the variance amount is exported to the Amount column.
Question No. 18) Which is NOT an attribute type for reconciliation compliance attributes?
Question No. 19) An error occurs during an import transactions job for a match type. What is the result of the job?
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 No. 20) Which statement is true about saved filters?
A) Any user can publish a saved filter that they created.
B) Saved Filters are public by default.
C) Only power users and service administrators can publish filters.
D) Only service administrators can publish filters.
Question No. 21) Which statement is FALSE about calendars?
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 No. 22) Which two attribute types are required for each data source? (Choose two.)
A) Key Field
B) Accounting Date
D) Balancing Attribute
Question No. 23) Which statement about loading pre-mapped balances is FALSE?
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 No. 24) The transaction matching period-end reconciliation displays an unexplained difference other than zero. Which two are possible explanations? (Choose two.)
A) Currency exchanges rates are out of date.
B) Journal adjustments created were not posted.
C) You do not have security access to all the transactions.
D) The data load for transactions was incomplete.
Question No. 25) Which three fields are required in a load file for pre-mapped balances?
A) Currency Code
B) Currency Bucket
D) Reconciliation ID