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- Oracle Financials Cloud: General Ledger 2017 Implementation Essentials certification exam
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1z0-960 Practice Test Questions Answers – 1z0-960 braindump
QUESTION NO: 11
Your customer wants to have balance sheets and income statements for their cost center and program segments. That is, they want to have three balancing segments.
Which two recommendations would you give your customer?
A. When entering journals manually, the customer will need to make sure that the debits and credits are equal across all balancing segments because the system will not automatically balance the journal.
B. Every journal where debits do not equal credits across the three balancing segments will result in the System generating extra journal lines to balance the entry.
C. Additional intercompany rules will need to be defined for the two additional balancing segments.
D. Ledger balancing rules will need to be defined to instruct the system on how to generate balancing entries for the second and third balancing segments.
Answer: A,D
QUESTION NO: 12
Your Financial Analyst needs to interactively analyze General Ledger balances with the ability down to originating transactions.
Which three features facilitate this?
A. Account Inspector
B. Smart View
C. Account Monitor
D. Online Transactional Business Intelligence
E. Financial Reports published to Excel
Answer: E
QUESTION NO: 13
Your customer wants to secure their primary balancing segment values to prevent employees of one company from entering or viewing data of another company. You only need this for General Ledger balances and reporting.
What two security features should you use?
A. Data Access Sets using an Access Set Type of Primary Balancing Segment
B. Cross-Validation Rules
C. Segment Value Security
D. Balancing Segment Value Assignment to Legal Entities
Answer: AC
QUESTION NO: 14
Your customer wants to create fully balanced balance sheets for the Company, Line of Business, and product segments for both financial and management reporting.
What is Oracle's suggested best practice for doing this?
A. Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions.
B. Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting.
C. Create three segments and qualify them as the primary balancing segment, second, and third balancing segments, respectively.
D. Create two segments where the first segment represents the concatenation of Company and Line of Business, and then enable secondary tracking for the Product Segment.
Answer: C
QUESTION NO: 15
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.
Answer: AC
QUESTION NO: 16
Your customer wants to control spending against an annual budget but report balances on a monthly year-to-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.
Answer: A
QUESTION NO: 17
Your customer has enabled encumbrance accounting. You have a control budget with the advisory level set at control. For November 2015, your budget for a given combination is $5,000 USD. You have an approved requisition of $900 USD and you have an approved purchase order of $2,500 USD. An adjustment encumbrance journal is created in the General Ledger for the obligation type for $1,600 USD. You then cancelled the approved PO line of $400 USD. For November 201b, you created a new invoice by matching to the PO for $2,100 USD.
Which two statements are true?
A. Purchase order encumbrance will be released for $2100 USD.
B. As there are cancellations for $400 USD, the system will partially reserve the funds in November 2015 and fully reserve it in December 2015.
C. As you are matching to a purchase order, the system will allow the user to create an invoice with the reservation status of Reserved.
D. Encumbrance entries are created only for nonmatched Invoices, so the system will not create any encumbrance accounting entries.
E. The system always consumes budget of future periods if the limit for the current period is expired, so December 2015 budget will be considered for reservation.
Answer: CE
QUESTION NO: 18
Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries.
What is Oracle's recommended best practice when implementing; a new chart of accounts? How many segments and what segment qualifiers should be used?
A. Define three segments for the company, department, and natural account. The qualifiers shouldbe primary balancing segment, cost center segment, and natural account segment, respectively
B. Define four segments for the company, department, natur.il account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, and intercompany segment, respectively.
C. Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.
D. Define three segments tor the company, department, and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.
Answer: C
QUESTION NO: 19
You are implementing Financials Cloud and are using spreadsheets to load Legal Entities, Business Units, and Account Hierarchies.
Which three setup objects can be loaded via a spreadsheet from Functional Setup Manager?
A. complete Accounting Configuration
B. Suppliers and Customers
C. Banks, Bank Accounts, and Branches
D. chart of account values, accounting calendar, and ledger
E. setup data for Receivables and Payables product.
Answer: BCD
QUESTION NO: 20
Who are the three primary Functional Setup Manager users?
A. End Users that perform transaction processing
B. Implementation Project Managers and Consultants
C. System Administrators
D. Application Developers
E. C-Level Executives
Answer: A, B, C