Pass Account Reconciliation 1Z0-1087-20 exam [Nov 19, 2021] Updated 62 Questions [Q27-Q42]

Pass Account Reconciliation 1Z0-1087-20 exam [Nov 19, 2021] Updated 62 Questions

Oracle 1Z0-1087-20 Actual Questions and 100% Cover Real Exam Questions

Oracle 1Z0-1087-20 Exam Syllabus Topics:

Topic	Details
Topic 1	Analyzing Transaction Matches in Reports Discuss Profile Segments Describe 5 balancing scenarios
Topic 2	Add calculated attributes and filters Configure API call Pre-mapped to DM or AR
Topic 3	Import Transactions to Data Sources Export and Import Match Types Load manual Pre-mapped data
Topic 4	Explain Processes for Reconciliation Compliance (5 step process) Modify Profiles Modify Formats
Topic 5	Describe Individual, Group, and Summary Reconciliations Describe methods of loading data
Topic 6	Identify Use Cases – Clearing or Accrual Reconciliations, Reconciling Debits and Credits
Topic 7	Explain Transaction Matching Processes – Load data, run Auto Match, Confirm Suggested Matches, Create Manual Matches
Topic 8	Review, Approve, Reject, and Reopen reconciliations Review TM Balancing Report
Topic 9	Create and delete Reconciliations Import Data Using Data Management
Topic 10	Define Currency Rates and Currency Buckets Set up EPM Automate to load Pre-mapped to DM or AR
Topic 11	Describe the Types of Rules Add Rules to Formats and Profiles Configure Match Processes
Topic 12	Describe Rec Compliance and Transaction Matching Transfer reconciliations between users
Topic 13	Create Formats and Profiles for Transaction Matching reconciliations Import and Export Teams
Topic 14	Navigate the system (Filter, Sort, Select Columns, and Review a Reconciliation) Create Profiles (Manual entry, copy & paste, delete, export and import)

 

NEW QUESTION 27
You are using EPM Automate commands to automate data load to Account Reconciliation.
In which scenario should you use EPM Automate to load the data through Data Management rather than directly into Account Reconciliation?

• A. Your data includes fields with blank values.
• B. You are loading more than 1000 transactions.
• C. You want to import one concatenated field from the source file, rather than two separate fields.
• D. You are loading data to the Reporting currency bucket.

Answer: D

 

NEW QUESTION 28
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?

• A. Create a calculated attribute to compare the prior period balance to the current period balance and add it to the profile.
• B. Add a rule to the Rules tab.
• C. On the currency tab, enable a currency bucket for that prior period balance.
• D. Select a format with the Variance Analysis reconciliation method for the profile.

Answer: D

 

NEW QUESTION 29
Which is NOT a step in configuring journals in Transaction Matching?

• A. define data source filters
• B. create journal templates
• C. map journal columns to data source attribute columns
• D. create journal columns

Answer: B

 

NEW QUESTION 30
Which statement is true for profiles that have a Quarterly frequency selected?

• A. They must be assigned a quarterly calendar.
• B. The balances for quarterly reconciliations aggregate the balances from monthly reconciliations.
• C. You can create reconciliations for those profiles only in periods that have Quarterly frequency selected.
• D. You cannot create reconciliations for profiles with transaction matching reconciliation methods for quarterly periods.

Answer: C

Explanation:
Explanation
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.

 

NEW QUESTION 31
A profile's properties have been modified and the changes saved. Which statement is correct?

• A. Existing reconciliations that use the profile are updated after approval by a system administrator.
• B. Existing reconciliations with Pending or Open With Preparer status that use the profile are updated with the changes.
• C. Existing reconciliations that use the profile are not updated.
• D. Existing reconciliations with Pending status that use the profile are updated with the changes.

Answer: B

 

NEW QUESTION 32
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?

• A. Smart View
• B. 'Import pre-mapped balances' option in the Periods page
• C. Data Management data load rule
• D. Supplemental Data Management form

Answer: C

 

NEW QUESTION 33
Which statement regarding user-defined attributes is FALSE?

• A. You can assign access by user role.
• B. You can no longer add/edit attributes after reconciliations are created.
• C. They can include calculated values.
• D. They can be assigned default value.

Answer: B

 

NEW QUESTION 34
Which statement about manual matching in transaction matching is FALSE?

• A. You must be a power user or service administrator to create manual matches.
• B. You can create adjustments to balance a match set.
• C. You can manually match transactions only if the amounts are within the tolerance.
• D. Transactions for which auto-matching rules did not find matches can be manually matched.

Answer: C

 

NEW QUESTION 35
Which reconciliation method is appropriate for a prepaid insurance reconciliation that explains the current month balance?

• A. Account Analysis
• B. Variance Analysis
• C. Balance Comparison
• D. Transaction Matching

Answer: C

 

NEW QUESTION 36
Which statement is FALSE of teams?

• A. Teams are assigned to profiles on the Workflow tab.
• B. A user can belong to more than one team.
• C. A team can have another team as a member.
• D. Teams can be assigned a primary user.

Answer: A

 

NEW QUESTION 37
Which is required for a valid profile?

• A. at least one question:
• B. at least one level of review
• C. at least one currency bucket
• D. at least one rule

Answer: C

 

NEW QUESTION 38
In the Balance Explanations tab of the Prepaid Expenses reconciliation, you want to include the transactions and attachments from the prior period in the current period.
Which action should you perform?

• A. In the profile for Prepaid Expenses reconciliations, select 'Include Prior Period Transactions'.
• B. In the Reconciliations list, copy the reconciliation from the prior period and paste it into the current period.
• C. Export the transactions from the prior period reconciliation and then import them to the current period reconciliation.
• D. In the Balance Explanations tab of the current period reconciliation, select 'Copy Transactions from Prior Reconciliation'.

Answer: A

 

NEW QUESTION 39
Which two rule types are available in profiles? (Choose two.)

• A. Require Reconciliation Attachment
• B. Flag As Needs Attention
• C. Auto Approve Reconciliation
• D. Delete Reconciliation
• E. Copy Transactions from Prior Reconciliation

Answer: C,E

 

NEW QUESTION 40
What results if you load balances using Data Management to a period to which you previously imported pre- mapped balances?

• A. You are prompted whether to overwrite the pre-mapped balances.
• B. The Data Management data load fails.
• C. The balances loaded through Data Management overwrite the pre-mapped balances.
• D. The reconciliation takes the balances loaded through Data Management and the pre-mapped balance load, and totals them.

Answer: C

 

NEW QUESTION 41
Which two conditions can make a profile invalid? (Choose two.)

• A. No preparer is assigned on the Workflow tab.
• B. The Normal Balance setting does not match the account type.
• C. Aging limits have not been specified.
• D. No currency buckets are enabled.

Answer: A,B

 

NEW QUESTION 42
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