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Practice Free 1z0-1087-23 Oracle Account Reconciliation 2023 Implementation Essentials Exam Questions Answers With Explanation

We at Crack4sure are committed to giving students who are preparing for the Oracle 1z0-1087-23 Exam the most current and reliable questions . To help people study, we've made some of our Oracle Account Reconciliation 2023 Implementation Essentials exam materials available for free to everyone. You can take the Free 1z0-1087-23 Practice Test as many times as you want. The answers to the practice questions are given, and each answer is explained.

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Question # 6

For which scenario could a match type with a single data source be appropriate?

A.

matching credits and debits for a clearing account

B.

intercompany matching

C.

matching bank and point-of-sale transactions

D.

variance analysis for current and prior period balances

Question # 7

Which three statements are true about importing transaction matching transactions from the Jobs page? (Choose three.)

A.

You select a separate load file for each data source.

B.

You can select comma or tab for delimiter, or enter a user-defined delimiter.

C.

You can import transactions to a match type only if its status is Pending.

D.

Auto-match can run automatically after the import is finished.

E.

You must select a match type for the import.

Question # 8

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.

On the currency tab, enable a currency bucket for that prior period balance.

B.

Add a rule to the Rules tab.

C.

Select a format with the Variance Analysis reconciliation method for the profile.

D.

Create a calculated attribute to compare the prior period balance to the current period balance and add it to the profile.

Question # 9

Which property of profiles is set automatically when you select the format for the profile?

A.

Method

B.

Normal Balance

C.

Process

D.

Account Type

Question # 10

What happens when you load balances to a reconciliation with the status Closed or Open With Reviewer and the balance is different than what was already Certified?

A.

The status reverts to Pending.

B.

The import fails.

C.

The status reverts to Open with Preparer.

D.

The status is unchanged but a notification is sent to the related users.

Question # 11

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.

‘Import pre-mapped balances’ option in the Periods page

B.

Data Management data load rule

C.

Smart View

D.

Supplemental Data Management form

Question # 12

Which two auto-reconciliation methods for reconciliations use the Account Analysis format?

A.

Unexplained difference is zero

B.

Balance is zero

C.

Zero activity

D.

Balance is normal

E.

No transactions

Question # 13

Which two are matching rule types?

A.

Matches Exactly

B.

Matches with Tolerance

C.

Suggested Match

D.

Adjustment

E.

One to One

Question # 14

Which two statements are true about Group reconciliations? (Choose two.)

A.

Group reconciliations include other individual reconciliations as children.

B.

You cannot use Data Management to import balances for group reconciliations.

C.

The format for the reconciliation must be enabled for Group Reconciliation.

D.

The Group Detail tab shows data for the group reconciliation sub segments.

E.

You can import balances into periods as pre-mapped data.

Question # 15

In a reconciliation profile, the Account Payable Reviewers team is assigned as the reviewer, and you want to require that ALL team members approve the reconciliation.

Which action should you perform?

A.

In the Instructions tab of the profile, add instructions for all team members to review the reconciliation.

B.

On the Workflow tab of the Profile, select All Reviewers in the Require Action By field.

C.

Add a rule of the type Require Team Review to the Rules tab.

D.

Do not select a Primary User for the Account Payable Reviewers team.

Question # 16

Which two Bank File formats does Account Reconciliation support using pre-built adapters in Data Management? (Choose two.)

A.

SWIFT MT940

B.

BAI

C.

EDI

D.

XML

Question # 17

In which location do you configure rules for reconciliation compliance transactions?

A.

Format

B.

Reconciliation

C.

Profile

D.

Match Type

Question # 18

To which do you assign default currencies?

A.

currency buckets

B.

account ids

C.

organizational units

D.

formats

Question # 19

Which statement is FALSE about reconciliations that use the Transaction Matching Only reconciliation method?

A.

They display in both the Reconciliations list and the Matching list.

B.

They do not participate in period-end compliance workflow.

C.

They do not need to be created for periods.

D.

You must create profiles for them.

Question # 20

In which row does an unmatched transaction with an accounting date of April 30th display in the period-end reconciliation for May 31?

A.

It is excluded from the report

B.

Unmatched Supported

C.

Matched In Transit

D.

Unmatched

Question # 21

Which statement regarding user-defined attributes is FALSE?

A.

You can assign access by user role.

B.

They can include calculated values.

C.

They can be assigned default value.

D.

You can no longer add/edit attributes after reconciliations are created.

Question # 22

Which three fields are required in a load file for pre-mapped balances?

A.

Currency Code

B.

Currency Bucket

C.

Period

D.

Reconciliation ID

E.

Entity

F.

Amount

Question # 23

Which statement is true about saved filters?

A.

Any user can publish a saved filter that they created.

B.

Saved Filters are public by default.

C.

Only power users and service administrators can publish filters.

D.

Only service administrators can publish filters.