Oracle Account Reconciliation 2021 Implementation Essentials

Question 1

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

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

D. Create a calendar and assign it to the organizational unit.

Correct Answer: C

Question 2

Which three types of reconciliations are suitable for the Transaction Matching feature? (Choose three.)

A. reconciliations that have amortizing transactions

B. reconciliations that are typically zero balance accounts with low activity

C. accounts with high volumes of data

D. reconciliations with 2 or more data sources, like a cash or accounts receivable account

E. reconciliations with a single data source, like a clearing account

Correct Answer: B,D,E

Question 3

Which statement about rules is FALSE?

A. Profiles inherit rules from their formats.

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

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

D. A profile can have a maximum of three rules.

Correct Answer: D

Question 4

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. You can load data to reconciliations for the period.

D. Reconciliations with Pending status can start.

Correct Answer: C

Question 5

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

Correct Answer: D

Question 6

In which row does an unmatched transaction with an accounting date of April 30th display in the period-end reconciliation for May 31?

A. Unmatched Supported

B. Unmatched

C. Matched In Transit

D. It is excluded from the report

Correct Answer: A

Question 7

Which two tasks can be performed using EPM Automate?

A. Set period status.

B. Load pre-mapped balances.

C. Import match types.

D. Export journals.

Correct Answer: C,D

Question 8

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. Auto Approve

B. Confirmed

C. Suggested

D. Auto Submit

Correct Answer: A

Oracle Account Reconciliation 2021 Implementation Essentials - 1Z0-1087-21 Exam Practice Test

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