Oracle 1Z0-960 Online Practice Questions and Exam Preparation

Oracle 1Z0-960 Online Questions & Answers

• Question 1:

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

  A. by using the Close Status monitor to drill down on the close status across ledgers
  B. by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Others
  C. by running the Journals report using Business Intelligence Publisher
  D. by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)
  C. by running the Journals report using Business Intelligence Publisher

• Question 2:

  Your customer requires physical invoices to be generated in Fusion Payables and Fusion Receivables for the intercompany payables and receivables transactions. What statement is correct with regard to setting this up?

  A. You must assign the corresponding Receivables and Payables Business Units.
  B. You only need to assign the Legal Entity and Organization Contact.
  C. You must perform additional setup steps for Fusion Payables and Fusion Receivables.
  D. You can only associate one Intercompany Organization per Legal Entity.
  A. You must assign the corresponding Receivables and Payables Business Units.

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  explanation:

  Reference:

  http://docs.oracle.com/cd/E27605_01/fscm91pbr2/eng/psbooks/sbil/chapter.htm?File=sbil/h tm/sbil25.htm

• Question 3:

  Your customer has a large number of legal entities. The legal entity values are defined in the company segment and the primary balancing segment. They want to easily create eliminating entries for the intercompany activity. What should you recommend?

  A. Define an intercompany segment in the chart of accounts. The Intercompany module and the intercompany balancing feature in general ledger and sub ledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading.
  B. There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.
  C. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment.
  D. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the Intercompany rules you define.
  B. There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.

• Question 4:

  Which two delivered roles can access the full functionality of Functional Setup Manager,

  A. Application Implementation Manager
  B. Functional Setup Manager Superuser
  C. Application Implementation Consultant
  D. Any functional user
  E. IT Security Manager
  A. Application Implementation Manager
  C. Application Implementation Consultant

• Question 5:

  Which repot show you differences between your subledger balances and General Ledger balances?

  A. Payables Trial Balance, Receivables Trial Balance, and General Ledger Trial Balance reports
  B. Payables and Receivables Aging Reports with the General Ledger Trial Balance report
  C. Payables to Ledger Reconciliation Report and the Receivables to Ledger Reconciliation Report
  D. General Ledger Financial Statements and the Accounts Payable and Accounts Receivables Invoice Registers
  C. Payables to Ledger Reconciliation Report and the Receivables to Ledger Reconciliation Report

• Question 6:

  You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results. What does Oracle consider best practice when this occurs?

  A. Translate only the adjusting journal entry.
  B. Rerun Revaluation and then rerun Translation
  C. Rerun Translation and then reconsolidate your result
  D. Enter another adjusting journal entry in the currency to true up the balances.
  A. Translate only the adjusting journal entry.

• Question 7:

  Your customer operates three shared services that perform accounting functions across 50 countries. What feature allows them to share setup data, such as Payment Terms, across Business Units?

  A. Reference Data Sets
  B. Business Units functions
  C. None. Setup data is partitioned by Business Unit and must be defined separately per Business Unit.
  D. Data Access Sets
  B. Business Units functions

• Question 8:

  You want to be notified of anomalies in certain account balances in real time. What is the rnost efficient way to do this?

  A. Perform an account analysis online.
  B. Open a Smart View file saved on your desktop.
  C. Create an Account Group using Account Monitor.
  D. Use Account Inspector.
  A. Perform an account analysis online.

• Question 9:

  Your customer is closing their period and they are using Fusion Intercompany to create physical invoices in Fusion Payables and Receivables. What is the correct order of steps to close Fusion sub ledgers, Fusion Intercompany, and Fusion General Ledger?

  A. Close Fusion Payables and Receivables periods, close the related intercompany period, and then close the Fusion General Ledger's period.
  B. Close Fusion Payables and Receivables periods, close Fusion General Ledger, and then close the related intercompany period
  C. Close the related intercompany period, close Fusion Payables and Receivables periods, and then Fusion General Ledger.
  D. You only need to close Fusion Payables and Receivables periods followed by the Fusion GeneralLedger's period.
  C. Close the related intercompany period, close Fusion Payables and Receivables periods, and then Fusion General Ledger.

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  explanation:

  Reference:

  http://www.oracle.com/technetwork/middleware/bi-foundation/fcm-11122-fusion-r6- integration-1900499.pdf

• Question 10:

  Invoices received from a source system need to use a specific account based on 30 different expense types. However, if the invoice is from a specific supplier type, it needs to go to a default account regardless of the account type.

  What is the solution?

  A. Create two journal line rules with a condition of supplier type.
  B. Create an Account Rule with 31 rule elements using one condition for each expense type and another for supplier type.
  C. Create an Account Rule with two rule elements using one for expense type mapping and the other for the condition of supplier type.
  D. Create an Account Rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other without any conditions.
  C. Create an Account Rule with two rule elements using one for expense type mapping and the other for the condition of supplier type.