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Oracle Financials Cloud: General Ledger 2018 Implementation Essentials

Question No: 11

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?

  1. Define Balance-Level Reporting Currencies in the more stable currency and run Translation as often as you need.

  2. Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency.

  3. Run Revaluation as often as you need to the more stable currency and report on the more stable currency’sbalances.

  4. Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency.

Answer: B

Reference: http://docs.oracle.com/cd/E15586_01/fusionapps.1111/e20374/F484499AN16AFA.htm

Question No: 12

Your Financial Analyst needs to interactively analyze General Ledger balances with the ability down to originating transactions.

Which three features facilitate this?

  1. Account Inspector

  2. Smart View

  3. Account Monitor

  4. Online Transactional Business Intelligence

  5. Financial Reports published to Excel

Answer: E

Question No: 13

Which two General Ledger work would you assign to all your entry-level General Ledger accountants?

  1. Journals Work Area

  2. Period Close Work Area

  3. Financial Reporting Center

  4. General Accounting Dashboard

Answer: A,D

Question No: 14

Identify three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA).

  1. OBIA is based on the universal data warehouse design with different prebuilt adapters that canconnect to various source application

  2. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance

  3. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, andFusion Applications.

  4. OTBI allows you to create custom reports from real-time transactional data against thedatabase directly

  5. Cloud customers can use both OTBI and OBIA.

Answer: B,C,D

Question No: 15

Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries.

What is Oracle#39;s recommended best practice when implementing; a new chart of accounts? How many segments and what segment qualifiers should be used?

  1. Define three segments for the company, department, and natural account. The qualifiers shouldbe primary balancing segment, cost center segment, and natural account segment, respectively

  2. Define four segments for the company, department, natur.il account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, and intercompany segment, respectively.

  3. Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.

  4. Define three segments tor the company, department, and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.

Answer: C

Question No: 16

How can your Accounting Manager expedite Journal processing during the time critical month end close?

  1. by using the Close Status monitor to drill down on the close status across ledgers

  2. by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Others

  3. by running the Journals report using Business Intelligence Publisher

  4. by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)

Answer: C

Question No: 17

What type of user must be defined before you can create an Implementation Project?

  1. None. The Fusion Applications Superuser, FAADMIN, has full access to create an Implementation Project.

  2. A full-time employee that has the FSM Superuser role assigned

  3. None. The OIM system administrator user ID, XELSYSADM, which is assigned by the person provisioning the system, has full access.

  4. Implementation Users

  5. All roles that will be used throughout the implementation

Answer: E

Question No: 18

Your customer uses Financials Cloud, Projects, Inventory and Procurement.

Which two statements are true regarding intercompany accounting tor these products?

  1. Each product has its own Intercompany Accounting feature that needs to be set up separately.

  2. Intercompany Balancing Rules are defined centrally and applied across Financials, Portfolio Project

    Management and Supply Chain Management products.

  3. Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross- ledger intercompany transactions and single ledger intercompany journals.

  4. They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub.

Answer: A,D

Question No: 19

Your customer has many eliminating entries to eliminate intercompany balances. The General Ledge does not include a purpose-built Consolidation feature.

How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?

  1. Use the spreadsheet template that is accessed from the quot;Create Journal in Spreadsheetquot; task and import the spreadsheet with the eliminating entries every period.

  2. Use the General Ledger#39;s Calculation Manager to define an allocation definition to eliminate entries that you can generate every period.

  3. There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management.

  4. Create a manual journal that includes the eliminating entries, and then create a copy of the Journal batch every period.

Answer: C

Question No: 20

What#39;s the difference between subject areas that append the word quot;Real Timequot; and those that do not?

  1. There is no difference.

  2. The “Real Time” subject areas are based on real-time transactions and all others are based on Historical data.

  3. The “Real Time” subject areas are based on real-time transactions in Fusion Applications, and all others are based on data stored in the Oracle Business Intelligence Applications data warehouse.

  4. The “Real time” subject areas are based on sub ledger transactions and all others are based on general ledger balances.

Answer: B

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