Oracle 1Z0-1087-22 Account Reconciliation

CHECKED: *Which two rule types are available in profiles? (Choose two.) A. Flag As Needs Attention B. Auto Approve Reconciliation C. Require Reconciliation Attachment D. Delete Reconciliation E. Copy Transactions from Prior Reconciliation

1. Auto Approve Reconciliation 2. Require Reconciliation Attachment

CHECKED: *Which two are auto-reconciliation methods? (Choose two.) A. Balance Match (%tolerance) B. No Data C. Balance has not changed D. Balance is zero and no activity

1. Balance Match (% tolerance) 2. Balance is zero and no activity

Which three fields are required in a load file for pre-mapped balances? A. Currency Code B. Currency Bucket C. Period D. Reconciliation ID E. Entity F. Amount

1. Currency Code 2. Reconciliation ID 3. Amount

CHECKED: Which keyword in a Teams import file identifies the section with the team members? A. #team_children B. #team C. #team_items D. #dependents

#team_children

CHECKED: *Which statement is FALSE of teams? A. Teams are assigned to profiles on the Workflow tab. B. A team can have another team as a member. C. Teams can be assigned a primary user. D. A user can belong to more than one team.

A team can have another team as a member.

CHECKED: *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.

You want to import one concatenated field from the source file, rather than two separate fields.

CHECKED: *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

after you load transactions to the reconciliation data sources

CHECKED: *Which is required for a valid profile? A. at least one level of review B. at least one question C. at least one rule D. at least one currency bucket

at least one currency bucket

CHECKED: *Which is NOT a step in configuring journals in Transaction Matching? A. create journal columns B. map journal columns to data source attribute columns C. define data source filters D. create journal templates

create journals templates

CHECKED: *To which do you assign default currencies? A. currency buckets B. account ids C. organizational units D. formats

currency buckets

CHECKED: Which statement about rules is FALSE? A. A rule can set a reconciliation attribute to a specified value when the rule conditions are met. B. You can use a saved filter as the condition in a rule. C. Profiles inherit rules from their formats. D. A profile can have a maximum of three rules.

D. A profile can have a maximum of 3 rules

CHECKED: *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

Data Management data load rule

Which is true when you reopen a reconciliation? A. It reopens to the service administrator. B. It reopens to the last reviewer. C. You select the role to which it reopens to. D. It reopens to the preparer.

It reopens to the preparer

CHECKED: *Which is NOT an attribute type for reconciliation compliance attributes? A. Yes/No B. True/False C. Number D. Location

Location

CHECKED: *Which two statements are true about importing and exporting match types? (Choose two.) A. Match types are exported to a .zip folder. B. Import can update match types with Pending status only. C. Match types are exported to comma-separated (CSV) files. D. Import can update match types with Approved status only.

Match types are exported to a .zip folder, Import can update match types with Pending status only.

CHECKED: 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

Matching credits and debits for clearing account

CHECKED *Which property of profiles is set automatically when you select the format for the profile? A. Method B. Normal Balance C. Process D. Account Type

Method

CHECKED: *Which expression do you include in the Expression field of the Amount column in an import format to ensure that zero balances are loaded? A. Source system B. NZP C. 0 D. Include Null

NZP

The objects within the match type refer to data sources, the data source attributes, the match processes, the rules, and the rule conditions. Which statement is FALSE aboutimporting a match type with the same name as an existing match type? A. Objects that exist in the system but not in the import file are deleted. B. New objects are created in the system from the objects in the import file if they do not exist. C. Objects with the same name in the system as in the import file are not updated. D. Objects from the import file overwrite objects with the same name in the system.

Objects with the same name in the system as in the import file are not updated.

CHECKED: *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 question? A. to the match type B. to the profile C. to the reconciliation D. to the format

to the format

CHECKED: Where do you navigate to configure power users access to profiles? A. under Application, select Configuration, and then System Settings B. under Tools, select Access Control, then Power User Security C. under Application, select Configuration, and then Profile Segments D. under Application, select Profiles

under Tools, select Access Control, then Power User Security

CHECKED: 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? 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.

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

CHECKED: *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? 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.

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

CHECKED: *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.

Only power users and service administrators can publish filters.

CHECKED: *Which statement is always true of data loads from Data Management? A. You must select either Actual or Budget as the scenario for the data. B. You cannot load data into reconciliations with a status of Closed. C. Only users with the administrator role can run data loads. D. If there is no change in the balance, the reconciliation is not updated.

Only users with the administrator role can run data loads.

To which do you assign Holiday Rules? A. profiles B. calendars C. organizational units D. periods

Organizational Units

Checked: *Which is the minimum user security role required to edit profiles? A. Service Administrator B. User C. Power User D. Viewer

Power User

CHECKED: *In which row does an unmatched transaction with an accounting date of April 30th display in the periodend reconciliation for May 31? A. It is excluded from the report B. Unmatched Supported C. Matched In Transit D. Unmatched

Unmatched

CHECKED *Which two are properties of the organizational unit? (Choose two.) A. work days B. calendar C. language D. tax jurisdiction

Work Days & Calendar

CHECKED: Which statement is true for profiles that have a Quarterly frequency selected? A. They must be assigned a quarterly calendar. B. You cannot create reconciliations for profiles with transaction matching reconciliation methods for quarterly periods. C. You can create reconciliations for those profiles only in periods that have Quarterly frequency selected. D. The balances for quarterly reconciliations aggregate the balances from monthly reconciliations.

You can create reconciliations for those profiles only in periods that have Quarterly frequency selected

CHECKED: *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.

You can drill back to the ERP from the reconciliation screen

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.

You can have up to seven levels of review

Which statement is FALSE regarding user-defined attributes? A. You can no longer add/edit attributes afterreconciliations are created. B. They can be added to formats, profiles, and transactions. C. They can include calculated values. D. You can assign access to attributes by user role.

You can no longer add/edit attributes

CHECKED: *Which statement regarding user-defined attributes is FALSE? 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.

You can no longer add/edit attributes after reconciliations are created.

CHECKED: *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.

You create separate journal columns for each match type.

CHECKED: *Which statement about manual matching in transaction matching is FALSE? A. You can manually match transactions only if the amounts are within the tolerance. B. Transactions for which auto-matching rules did not find matches can be manually matched. C. You must be a power user or service administrator to create manual matches. D. You can create adjustments to balance a match set.

You must be a power user or service administrator to create manual matches.

CHECKED: *Where can a service administrator navigate to view, by user, how many reconciliations were completed on time, how many are late, and how many were rejected? A. Reconciliations List B. Overview Dashboard C. Compliance Dashboard D. Worklist

Compliance Dashboard

CHECKED: *Which is NOT a step in the process for reconciliation compliance? A. prepare reconciliations B. execute automation like Automatic Recon and Rules C. load balances D. confirm suggested matches

Confirm suggested matches

CHECKED: *You are creating a matching rule, and you want transactions that are within the specified tolerance range to be matched automatically, with no need for further user review. Which option should you choose for the Match Status? A. Suggested B. Auto Approve C. Auto Submit D. Confirmed

Confirmed

CHECKED: *You want the holidays to be skipped when scheduling due dates for reconciliations for an organizational unit. What should you do? A. Edit the due date in the reconciliations for the organizational unit. B. Create a holiday rule and assign it to the organizational unit. C. Create a calendar and assign it to the organizational unit. D. Add a rule to the Rules tab of the profiles for the reconciliations.

Create a holiday rule and assign it to the organizational unit

CHECKED: *A profile's properties have been modified and the changes saved. Which statement is correct? A. Existing reconciliations that use the profile are not updated. B. Existing reconciliations with Pending or Open With Preparer status that use the profile are updated with the changes. C. Existing reconciliations that use the profile are updated after approval by a system administrator. D. Existing reconciliations with Pending status that use the profile are updated with the changes.

Existing reconciliations with Pending status that use the profile are updated with the changes.

CHECKED: *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.

They display in both the Reconciliations list and the Matching list.

CHECKED: *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.

1. Journal adjustments created were not posted 2. The data load for transactions was incomplete.

Which two tasks can be performed using EPM Automate? A. Set period status. B. Export journals. C. Import match types. D. Load pre-mapped balances.

1. Load Pre-mapped balances 2. Set Period Status

CHECKED: *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.

1. Select the data source to adjust 2. Select the Adjustment Type

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

1. The format for the reconciliation must be enabled for Group Reconciliation 2. The Group Detail tab shows data for the group reconciliation sub segments

Which two statements are true about reconciliation compliance filters? A. They can control the records that you see in the list views. B. They can be used by the rules engine. C. They allow you to save columns to view records on the screen. D. You can apply them against unmatched transactions.

1. They can control records that you see in list views 2. You can apply them against unmatched transactions.

Which two auto-reconciliation methods for reconciliations use the Account Analysis format? A. Unexplained difference is zero B. Balance is zero C. Zero activity D. Balance is normal E. No transactions

1. Unexplained difference is zero 2. Balance is zero

Which two statements are true about match types with Pending status? A. You can edit the data sources attributes. B. You can load datato Pending reconciliations for the match type. C. You can perform matching on reconciliations for the match type. D. You cannot edit the matching rules.

1. You can edit the data source attributes 2. You cannot edit the matching rules

CHECKED: *Which three statements are true about importing transaction matching transactions from the Jobs page? (Choose three.) A. You select a separate load file for each data source. B. You can select comma or tab for delimiter, or enter a user-defined delimiter. C. You can import transactions to a match type only if its status is Pending. D. Auto-match can run automatically after the import is finished. E. You must select a match type for the import.

1. You select a separate load file for each data source. 2. Auto-match can run automatically after the import is finished 3. You must select match type for the import

CHECKED: *Which two are tasks that can be performed using EPM Automate? (Choose two.) A. set period status B. import premapped data C. export balances D. export journals

1. import premapped data 2. set period status

CHECKED:*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

1. reconciliations with a single data source, like a clearing account 2. reconciliations with 2 or more data sources, like a cash or accounts receivable account 3. accounts with high volumes of data

CHECKED: Which two conditions can make a profile invalid? (Choose two.) 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.

1.No preparer is assigned in the Workflow tab 2. No currency buckets are enabled

CHECKED: *Which reconciliation method is appropriate for a prepaid insurance reconciliation that explains the current month balance? A. Balance Comparison B. Transaction Matching C. Variance Analysis D. Account Analysis

Account Analysis

CHECKED: *Which two attribute types are required for each data source? (Choose two.) A. Key Field B. Accounting Date C. Calculation D. Balancing Attribute

Accounting Date, Balancing Attribute

Which statement is FALSE about calendars? A. Calendars are associated with periods and organizationalunits. 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.

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

Which rule runs during the post-processing of data loads? A. Send Email On Update B. CreateReconciliations C. Copy Transactions D. Auto Match Transactions E. Auto Submit Reconciliation

Auto Submit Reconciliations

CHECKED: Which two statements are correct about deleting reconciliations? (Choose two.) A. The reconciliation status must be Pending. B. Only the preparer of the reconciliation can delete the reconciliation. C. The balances loaded for a period are not deleted when the reconciliation is deleted. D. Only a Service Administrator or a Power User can delete a reconciliation.

C. The balances loaded for a period are not deleted when the reconciliation is deleted. D. Only a Service Administrator or a Power User can delete a reconciliation.

What happens to a reconciliation if a team member who prepared the reconciliation is deleted from the team at a later point of time? A. Changes made by the deleted member are reassigned to the primary member of the team for review and approval, B. The reconciliation is flagged as invalid and needs to be re-created by the administrator. C. Changes made by the deleted member are reverted and the deleted member is removed from the reconciliation as preparer. D. Changes made by the deleted member are kept intact and the deleted member still appears as the original preparer.

Changes made by the deleted member are kept intact and the deleted member still appears as the original preparer.

CHECKED: *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

Edit formats to which they are assigned access

CHECKED: *From which two dates defined in the period can you schedule reconciliations? (Choose two.) A. end date B. prior period end date C. close date D. start date

End Date, close Date

In which location do you configure rules for reconciliation compliance transactions? A. Format B. Reconciliation C. Profile D. Match Type

Format

CHECKED: *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? 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.

In the Actions menu of the reconciliations, select Request Reassignment.

CHECKED:In the Balance Explanations tab of the Prepaid Expenses reconciliation, you want to include the transactions and attachments from the prior period in the current period. Which action should you perform? A. In the Balance Explanations tab of the current period reconciliation, select `Copy Transactions from Prior Reconciliation'. B. In the profile for Prepaid Expenses reconciliations, select `Include Prior Period Transactions'. C. In the Reconciliations list, copy the reconciliation from the prior period and paste it into the current period. D. Export the transactions from the prior period reconciliation and then import them to the current period reconciliation.

In the Balance Explanations tab of the current period reconciliation, select 'Copy Transactions from Prior Reconciliation'.

Which statement about rules is FALSE? A. Profiles can have a maximum of three rules B. You can use a saved filter as the condition in a rule. C. Profiles inherit rules from their formats. D. A profile can have a maximum of three rules.

Profiles can have a maximum of three rules

CHECKED: Which statement is true regarding the Normal Balance attribute in a profile? A. It is assigned automatically based on the account type. B. Preparers cannot save a reconciliation if the balance type is other than expected. C. When it is selected, reconciliations display a warning if their balance is zero. D. Reconciliations display a warning if the balance type is other than expected.

Reconciliations display a warning if the balance type is other than expected

CHECKED: *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.

Reconciliations with Pending status can start.

CHECKED: *Which two Bank File formats does Account Reconciliation support using pre-built adapters in Data Management? (Choose two.) A. SWIFT MT940 B. BAI C. EDI D. XML Correct Ans

SWIFT MT940 and BAI

CHECKED: 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.

Select a format with the Variance Analysis reconciliation method for the profile

CHECKED: *Which statement is FALSE about Summary reconciliations? A. The Group Detail tab shows transactions for the sub segments. B. You can select Show All on the Balance Summary tab to view balances for the child reconciliations. C. Summary reconciliations include other individual reconciliations as children. D. The Unexplained Difference on the Balance Summary tab shows the total unexplained difference for all the child reconciliations.

The Group Detail tab shows transactions for the sub segments.

CHECKED: *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 pre-mapped balance load, and totals them.

The balances loaded through Data Management overwrite the pre-mapped balances

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 thejob 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.

The entire import is rolled back, and the job status is set to Failed.

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.

The profile segments control the mapping of balances to reconciliations.

CHECKED: *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.

The status reverts to "Open with preparer"

A team has been assigned as the preparer for a reconciliation, and one team member is designated as the primaryuser. 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).

The system automatically claims the reconciliation for the primary use when the reconciliation status changes to Open (with preparer)

When would you use the Variance Analysis reconciliation method? A. To explain the difference in balances within the same account over different periods. B. To explain the difference in balances from the standards set by an organization in its budget. C. To reconcile the same balance across general ledgers that follow different governing rules. D. To justify each detail line of the total balance for the period.

To explain the difference in balances within the same account over different periods.

Which transaction matching method is used to match the transactions betweentwo systems if period-end reconciliation is not the objective? A. Transaction Matching Only B. Variance Analysis with Transaction Matching C. Balance Comparison with Transaction Matching D. Account Analysis with Transaction Matching

Transaction Matching Only

CHECKED: *What happens when you select the Key option for a data source attribute? A. Transactions with the same key attributes cannot be loaded. B. The attribute is hidden from users. C. Transactions are sorted by the attribute. D. Values are required for the attribute.

Transactions with the same key attributes cannot be loaded.

Which two are matching rule types? A. Matches Exactly B. Matches with Tolerance C. Suggested Match D. Adjustment E. One to One

one to one, adjustment

CHECKED: Which two options indicate the minimum and respectively the maximum number of currency buckets you can enable? (Choose two.) A. two B. four C. one D. three

one, three