Oracle Oracle Certifications 1Z0-960 Questions & Answers

• Question 61:

  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

  Correct Answer: A

• Question 62:

  You've set up the standard accrual with encumbrance accounting for your ledger and you realized that the encumbrance journals are defaulting with current date as the accounting date.

  What is causing this?

  A. The subledger accounting option Is set to system date.

  B. The actual accounting date was set up under the encumbrance accounting Default Date Rule.

  C. The system date was set up under the encumbrance accounting Default Date Rule.

  D. The current transaction accounting date was set up under the encumbrance accounting Default Date Rule.

  E. The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule.

  Correct Answer: D

• Question 63:

  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.

  Correct Answer: AC

• Question 64:

  Which statement is true when creating an Implementation Project for Financials Cloud?

  A. The Implementation Project is preconfigured and cannot be deleted or changed.

  B. Plan your implementation project carefully because you cannot delete it or make changes later.

  C. You must select the Offering "Financials," and each individual product or option to perform the setup for each product in Financials Cloud.

  D. Selecting the Offering "Financials," automatically allows you to perform the setup for all Financials Cloud products.

  E. You only need to make the project name unique, then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management and Supply Cham Management.

  Correct Answer: C

• Question 65:

  Your customer is reconciling their Intercompany Receivables accounts.

  Which two reports should they use In addition to using the intercompany Reconciliation report?

  A. Receivables Aging by General Ledger Account report

  B. General Ledger Trial Balance report

  C. Receivables to General Ledger Reconciliation report

  D. AR Aging report

  Correct Answer: C

• Question 66:

  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

  Correct Answer: B

• Question 67:

  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

  Correct Answer: ABC

• Question 68:

  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

  Correct Answer: BE

• Question 69:

  Your company wants to change the Cumulative Translation Adjustment (CTA) account to record gains/ losses from varying currency rates.

  What steps must you perform to achieve this objective without causing data corruption?

  A. Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.

  B. Open the Ledgers page and update the CTA account and then rerun Translation for all periods required. The system will automatically update the translated balances.

  C. Query the Translation journals and delete all of them, then change the CTA account in the Ledger page, and rerun Translation for all periods required.

  D. Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use.

  Correct Answer: B

• Question 70:

  Your customer is using budgetary control and encumbrance. You have an open purchase order for $500 USD, which you decide to match to an invoice for $300 USD.

  What will be the fund status of the purchase order and invoice?

  A. The purchase order is Partially Liquidated and the invoice is Partially Reserved.

  B. The purchase order is Partially Liquidated and the invoice will be reserved.

  C. Both are reserved.

  D. The purchase order is liquidated and the invoice is Partially Reserved. E. Both are Partially Reserved.

  E. The purchase order is Open and the invoice is validated.

  Correct Answer: C