Download Oracle Financials Cloud-General Ledger 2017 Implementation Essentials.Selftestengine.1z0-960.2018-12-01.1e.70q.vcex

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Exam Oracle Financials Cloud: General Ledger 2017 Implementation Essentials
Number 1z0-960
File Name Oracle Financials Cloud-General Ledger 2017 Implementation Essentials.Selftestengine.1z0-960.2018-12-01.1e.70q.vcex
Size 63 Kb
Posted December 01, 2018
Downloads 23

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Demo Questions

Question 1
Your customer has enabled encumbrance accounting. You have a control budget with the advisory level set at control. For November 2015, your budget for a given combination is $5,000 USD. You have an approved requisition of $900 USD and you have an approved purchase order of $2,500 USD. An adjustment encumbrance journal is created in the General Ledger for the obligation type for $1,600 USD. You then cancelled the approved PO line of $400 USD. For November 2015, you created a new invoice by matching to the PO for $2,100 USD. 
Which two statements are true? 

  • A: Purchase order encumbrance will be released for $2100 USD.
  • B: As there are cancellations for $400 USD, the system will partially reserve the funds in November 2015 and fully reserve it in December 2015.
  • C: As you are matching to a purchase order, the system will allow the user to create an invoice with the reservation status of Reserved.
  • D: Encumbrance entries are created only for nonmatched Invoices, so the system will not create any encumbrance accounting entries.
  • E: The system always consumes budget of future periods if the limit for the current period is expired, so December 2015 budget will be considered for reservation.

Question 2
You create a prepayment for USD 100 and validate it to consume the budget and reduce available funds under the prepayment account. You then pay the prepayment of USD 100 create an invoice for USD 300, and validate the* invoice to consume the budget and reduce available funds for the expense-accounts used in the invoice. You then apply the prepayment fully on to the invoice and revalidate it. 
What happens to the available funds when you apply a prepayment that requires budgetary control?

  • A: The prepayment application was already released at the time of payment and the invoice consumes funds of 300 USD. 
  • B: The prepayment application releases funds of 200 USD and the invoice consumes funds of 100 USD, with a net decrease to available funds of 200 USD.
  • C: Available funds will not change till invoice is approved.
  • D: The prepayment application releases funds of 100 USD and the invoice consumes funds of 300 USD, with a net decrease to available funds of 200 USD.
  • E: The prepayment application releases funds of 300 USD and the invoice consumes funds of 300 USD, with a net decrease to available funds of 100 USD.
  • F: The budget will be released only for the USD 300 invoice amount.

Question 3
What is the most efficient way to add a new year to the accounting calendar?

  • A: Add the periods manually
  • B: Use the Add Year button
  • C: Import the periods from a spreadsheet
  • D: The application automatically populates the next year when you open the first period of a new fiscal year.

Question 4
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?

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

Question 5
Your customer is having issues transferring intercompany transactions to General Ledger. 
Identify three reasons for this.

  • A: The intercompany transaction is not approved.
  • B: The corresponding Payables and Receivables invoice have not been generated.
  • C: If they are different, then the exchange rate is missing between the intercompany and ledger currency.
  • D: The intercompany period is closed.
  • E: Both the intercompany and general ledger periods are open.

Question 6
Which reporting tool is best suited for submitting high-volume transactional reports, such as invoice Registers or Trial Balance reports, that can be configured to 
extract the data in Rich Text Format or XML?

  • A: Financial Reporting Center
  • B: Oracle Transactional Business Intelligence (OTBI)
  • C: Business Intelligence Publisher (BI Publisher).
  • D: Smart View
  • E: Oracle Data Visualization Cloud Service

Question 7
Your company wants to change the Cumulative Translation Adjustment (CTA) account to record gains/losses from varying currency rates. 
What steps must you perform to achieve this objective without causing data corruption?

  • A: Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.
  • B: Open the Ledgers page and update the CTA account and then rerun Translation for all periods required. The system will automatically update the translated balances.
  • C: Query the Translation journals and delete all of them, then change the CTA account in the Ledger page, and rerun Translation for all periods required.
  • D: Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use.

Question 8
Which two are prerequisites for creating subledger accounting entries?

  • A: Completing accounting transformation definition and activating Subledger Journal Entry Rule Set assignments for the Accounting Method
  • B: Populating supporting reference information in reference objects
  • C: Selecting source values from transaction objects
  • D: Creating subledger accounting events
  • E: Completing preaccounting validation

Question 9
Who are the three primary Functional Setup Manager users?

  • A: End Users that perform transaction processing
  • B: Implementation Project Managers and Consultants
  • C: System Administrators
  • D: Application Developers
  • E: C-Level Executives

Question 10
You want to automatically post journal batches imported from subledger source to prevent accidental edits of deletions of the subledger sources journals, which could cause an out-of-balance situation between your sub ledgers and general ledger. 
Which two aspects should you consider when defining your AutoPost Criteria? 

  • A: Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process.
  • B: Include all of your sub ledger sources in the AutoPost Criteria. Divide up criteria sets by subledger source only if you need to schedule different posting times.
  • C: Create your AutoPost criteria using minimal source and categories. 
  • D: Schedule your AutoPost Criteria set to run during off-peak hours only



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