1z1-960 by Oracle Actual Free Exam Q&As

Question 1

The Accounting Manager requests that a schedule be created to automatically post journals from subledgers at different times.
Which journal attribute should you use to set the automatic posting criteria?

A. Journal Source B. Journal Description C. Journal Batch D. Journal Category

Discussion 0

Correct Answer: C Vote an answer

Question 2

What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)

A. You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously. B. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis. C. You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts. D. Posting performance is much faster. E. Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules.

Discussion 0

Correct Answer: A,D Vote an answer

Question 3

Your customer wants to have balance sheets and income statements for their cost center and program segments. That is, the customer wants to have three balancing segments.
Which two recommendations would you give your customer? (Choose two.)

A. Define Ledger balancing options to balance by second and third balancing segments. B. Additional intercompany rules will need to be defined for the two additional balancing segments. C. 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. D. 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.

Discussion 0

Correct Answer: A,D Vote an answer

Question 4

You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results.
What is Oracle's recommended practice when this occurs?

A. Translate only the adjusting journal entry. B. Rerun Revaluation and then rerun Translation C. Rerun Translation and then reconsolidate your results D. Enter another adjusting journal entry in the target currency to true up the balances.

Discussion 0

Correct Answer: C Vote an answer

Question 5

You operate in a country whose unstable currency makes it unsuitable for managing your day-to-day business.
As a consequence, you need to manage your business in a more stable currency while retaining the ability to report in the unstable local currency.
What would be your recommendation when defining ledgers?

A. Run Revaluation as often as you need to the more stable currency and report on the more stable currency's balances. B. Run Revaluation to translate into Statistical Currency. C. Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency. D. Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency.

Discussion 0

Correct Answer: C Vote an answer

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Question 6

Which two statements are true regarding the export/import of reports?

A. A set of reports lists user names, suppliers, and customers that have been exported/imported. B. A set of reports are provided for both exported and imported setup data to validate the export/import processes and setup data. C. Reports on setup data can be used to compare and analyze how the data might have changed over time. D. The export/import reports are available only for Fusion Customer Relationship Management. E. To view errors encountered during the export or import Process, you must use SQL queries to obtain that data because no reports exist.

Discussion 0

Correct Answer: D,E Vote an answer

Question 7

On which three occasions are Essbase balances updated?

A. Every time journals are posted to the general ledger B. At report run-time C. Every time you open a new period D. Every time the tree version is published E. Every time you run the batch program called "Update Essbase Balances"

Discussion 0

Correct Answer: A,B,D Vote an answer

Oracle Financials Cloud: General Ledger 2017 Implementation Essentials - 1z1-960 Exam Practice Test