Get all the Information About Oracle 1Z0-1087-21 Exam 2022 Practice Test Questions [Q34-Q53]

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Oracle 1Z0-1087-21 Exam Syllabus Topics:

Topic	Details
Topic 1	Identify Use Cases – Clearing or Accrual Reconciliations, Reconciling Debits and Credits Export adjustments or transactions as journal entries
Topic 2	Explain Transaction Matching Processes Analyzing Transaction Matches Describe Reconciliation Methods
Topic 3	Add calculated attributes and filters Configuring Transaction Matching
Topic 4	Review, Approve, Reject, and Reopen reconciliations Configure Match Processes (including matching rules)
Topic 5	Describe Individual, Group, and Summary Reconciliations Describe methods of loading data (including EPM Automate and REST APIs)

NO.34 Which ability does NOT belong to users with the Power User role?

edit formats to which they are assigned access

prepare reconciliations

review reconciliations

edit profiles to which they are assigned access

NO.35 Which two statements are correct about deleting reconciliations? (Choose two.)

The reconciliation status must be Pending.

Only the preparer of the reconciliation can delete the reconciliation.

The balances loaded for a period are not deleted when the reconciliation is deleted.

Only a Service Administrator or a Power User can delete a reconciliation.

NO.36 Which statement is FALSE about Summary reconciliations?

The Group Detail tab shows transactions for the sub segments.

You can select Show All on the Balance Summary tab to view balances for the child reconciliations.

Summary reconciliations include other individual reconciliations as children.

The Unexplained Difference on the Balance Summary tab shows the total unexplained difference for all the child reconciliations.

NO.37 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 questions?

to the match type

to the profile

to the reconciliation

to the format

NO.38 Which statement about rules is FALSE?

A rule can set a reconciliation attribute to a specified value when the rule conditions are met.

You can use a saved filter as the condition in a rule.

Profiles inherit rules from their formats.

A profile can have a maximum of three rules.

NO.39 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?

On the currency tab, enable a currency bucket for that prior period balance.

Add a rule to the Rules tab.

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

Create a calculated attribute to compare the prior period balance to the current period balance and add it to the profile.

NO.40 To which do you assign Holiday Rules?

profiles

calendars

organizational units

periods

NO.41 Which statement is true for profiles that have a Quarterly frequency selected?

They must be assigned a quarterly calendar.

You cannot create reconciliations for profiles with transaction matching reconciliation methods for quarterly periods.

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

The balances for quarterly reconciliations aggregate the balances from monthly reconciliations.

You begin the reconciliation process for each period by creating reconciliations. You can create reconciliations for all account profiles, or for a filtered list of profiles. The profile frequency, such as monthly or quarterly, must match the period frequency.

NO.42 Which reconciliation method is appropriate for a prepaid insurance reconciliation that explains the current month balance?

Balance Comparison

Transaction Matching

Variance Analysis

Account Analysis

NO.43 Which two statements are true about importing and exporting match types? (Choose two.)

Match types are exported to a .zip folder.

Import can update match types with Pending status only.

Match types are exported to comma-separated (CSV) files.

Import can update match types with Approved status only.

NO.44 Which two rule types are available in profiles? (Choose two.)

Flag As Needs Attention

Auto Approve Reconciliation

Require Reconciliation Attachment

Delete Reconciliation

Copy Transactions from Prior Reconciliation

NO.45 In which row does an unmatched transaction with an accounting date of April 30th display in the period-end reconciliation for May 31?

It is excluded from the report

Unmatched Supported

Matched In Transit

Unmatched

NO.46 Which statement is FALSE about reconciliations that use the Transaction Matching Only reconciliation method?

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

They do not participate in period-end compliance workflow.

They do not need to be created for periods.

You must create profiles for them.

NO.47 To which do you assign default currencies?

currency buckets

account ids

organizational units

formats

NO.48 You want the holidays to be skipped when scheduling due dates for reconciliations for an organizational unit. What should you do?

Edit the due date in the reconciliations for the organizational unit.

Create a holiday rule and assign it to the organizational unit.

Create a calendar and assign it to the organizational unit.

Add a rule to the Rules tab of the profiles for the reconciliations.

NO.49 The transaction matching period-end reconciliation displays an unexplained difference other than zero. Which two are possible explanations? (Choose two.)

Currency exchanges rates are out of date.

Journal adjustments created were not posted.

You do not have security access to all the transactions.

The data load for transactions was incomplete.

NO.50 Where do you navigate to configure power users access to profiles?

under Application, select Configuration, and then System Settings

under Tools, select Access Control, then Power User Security

under Application, select Configuration, and then Profile Segments

under Application, select Profiles

NO.51 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?

‘Import pre-mapped balances’ option in the Periods page

Data Management data load rule

Smart View

Supplemental Data Management form

NO.52 Which statement is FALSE about calendars?

Calendars are associated with periods and organizational units.

One period may have many calendars to reflect different date configurations for the period.

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

Calendars set the dates and frequencies for each period.

NO.53 Which is NOT a step in the process for reconciliation compliance?

prepare reconciliations

execute automation like Automatic Recon and Rules

load balances

confirm suggested matches

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Get all the Information About Oracle 1Z0-1087-21 Exam 2022 Practice Test Questions [Q34-Q53]

Oracle 1Z0-1087-21 Exam Syllabus Topics:

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