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Oracle Financials Cloud: General Ledger 2018 Implementation Essentials

Question No: 21

You are reconciling your subledger balances and you need a report that includes beginning and ending account balances and all transactions that constitute the account#39;s activities.

What type of report will provide this type of information?

  1. An Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances

  2. Account Analysis Reports

  3. Journals Reports

  4. Aging Reports

Answer: C

Question No: 22

Which two are prerequisites for creating subledger accounting entries?

  1. Completing accounting transformation definition and activating Subledger Journal Entry Rule Set assignments for the Accounting Method

  2. Populating supporting reference information in reference objects

  3. Selecting source values from transaction objects

  4. Creating subledger accounting events

  5. Completing preaccounting validation

Answer: B,E

Question No: 23

You need to integrate Fusion Accounting Hub with external source systems used for Billing. Identity the step that is not correct when implementing this integration.

  1. Analyze external system transactions.

  2. Capture accounting events.

  3. Determine the accounting impact of transactions.

  4. Create the accounting in the source system and then import the journal entries into subledger accounting.

Answer: D

Question No: 24

Which two types of journals can be automatically routed through the journal approval process?

  1. Allocation journals

  2. Revaluation journals

  3. Manual journals

  4. Sub ledger journals

  5. Journals imported from third-party systems

Answer: C,E

Question No: 25

You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?

  1. Chart of accounts was not deployed.

  2. Accounting Configuration was not submitted-

  3. An Audit process needs to be successfully performed before a tree version can be set to Active.

  4. Two tree versions were not defined

Answer: D

Question No: 26

All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships.

What is Oracle#39;s recommend approach to performing consolidations?

  1. Use Oracle Hyperion Financial Management for this type of complex consolidation.

  2. Translate balances to the corporate currency, create a chart of accounts mapping to the corporate Chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program.

  3. Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger#39;s Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.

  4. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency and accounting method. Create a separate elimination ledger to enter intercompany eliminations, then create a ledger set across all ledgers and report on the ledger set.

Answer: D

Question No: 27

Your customer is expanding its operations. You defined a new ledger and several business units. However, you are unable to assign the newly generated data roles to existing Accounts Payables and Accounts Receivables users in the shared service center.

What should you do to correct the problem?

  1. Open the Oracle Identity Management (OIM) and make sure the data roles were created.

  2. Open the Manage Users page and make sure the employees at

  3. Open Access Policy Manager (APM) and assign the roles manually

  4. Make sure you run the Retrieve Latest LDAP Changes program to regenerate the data roles.

Answer: C

Question No: 28

After loading your budget data into Fusion General Ledger, you can view budget balances using these feature.

Which feature does not belong on the list?

  1. Application Development Framework Desktop Integration(ADFdi)

  2. Account Inspector

  3. Account Monitor

  4. Smart View

Answer: B

Question No: 29

You need to create a month-end re-porting package for an upcoming Audit Committee

meeting. You have 10 financial reports that you will need to share with executives and auditors.

In which three ways do you accomplish this?

  1. Using Workspace, assemble multiple reports into a book.

  2. Use a Report Batch to run reports at a specific time to create set of snapshot reports based on accounting information at that specific point in time.

  3. Users can drill down on snapshot reports for future analysis.

  4. The report contained in the book can be printed or viewed individually or as an entire book thatincludes a table of contents.

  5. Snapshot reports can only be viewed online.

Answer: A,B,D

Question No: 30

Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses in Australia, New Zealand, and Singapore with a ledger in each country with a Corporate chart of account instance that has four segments.

Which two statements are true regarding the creation of a control budget?

  1. Control budgets are always absolute to generate encumbrance accounting.

  2. A control budget can allow override rules only if the control level is absolute.

  3. The control budget structure has all the chart of account segments as budget segments.

  4. A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand, and Singapore.

  5. A control budget can be associated with a different calendar than accounting calendar.

Answer: B,E

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