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Exceptional Practice To Oracle EPM Account Reconciliation 2020 Implementation Essentials Pass the First Time
NEW QUESTION 30
Which statement about rules is FALSE?
- A. You can use a saved filter as the condition in a rule.
- B. A rule can set a reconciliation attribute to a specified value when the rule conditions are met.
- C. Profiles inherit rules from their formats.
- D. A profile can have a maximum of three rules.
Answer: D
NEW QUESTION 31
Which statement is true about saved filters?
- A. Only power users and service administrators can publish filters.
- B. Any user can publish a saved filter that they created.
- C. Saved Filters are public by default.
- D. Only service administrators can publish filters.
Answer: C
NEW QUESTION 32
You are a preparer with the User role and you are going on vacation.
How can you assign responsibility for reconciliations currently open with you to the backup preparer?
- A. In the Actions menu of the reconciliations, select Request Reassignment.
- B. In User Preferences, change your status to Out of Office.
- C. In the Workflow tab of the reconciliations, select a backup preparer in the Backup Preparer field.
- D. Click the Release button in the reconciliations to release it to the other team members.
Answer: C
NEW QUESTION 33
Which two conditions can make a profile invalid? (Choose two.)
- A. The Normal Balance setting does not match the account type.
- B. Aging limits have not been specified.
- C. No preparer is assigned on the Workflow tab.
- D. No currency buckets are enabled.
Answer: A,C
NEW QUESTION 34
Which statement is FALSE about reconciliations that use the Transaction Matching Only reconciliation method?
- A. You must create profiles for them.
- B. They display in both the Reconciliations list and the Matching list.
- C. They do not need to be created for periods.
- D. They do not participate in period-end compliance workflow.
Answer: A
NEW QUESTION 35
What happens when you select the Key option for a data source attribute?
- A. Values are required for the attribute.
- B. Transactions are sorted by the attribute.
- C. Transactions with the same key attributes cannot be loaded.
- D. The attribute is hidden from users.
Answer: A
NEW QUESTION 36
Which three types of reconciliations are suitable for the Transaction Matching feature? (Choose three.)
- A. reconciliations that are typically zero balance accounts with low activity
- B. reconciliations that have amortizing transactions
- C. reconciliations with 2 or more data sources, like a cash or accounts receivable account
- D. reconciliations with a single data source, like a clearing account
- E. accounts with high volumes of data
Answer: A,C,D
NEW QUESTION 37
For which scenario could a match type with a single data source be appropriate?
- A. matching bank and point-of-sale transactions
- B. matching credits and debits for a clearing account
- C. variance analysis for current and prior period balances
- D. intercompany matching
Answer: B
NEW QUESTION 38
You want to require that preparers answer a question: certifying that they followed the company accounting policies in preparing the reconciliation.
Where do you add the question:?
- A. to the profile
- B. to the format
- C. to the reconciliation
- D. to the match type
Answer: B
NEW QUESTION 39
Which two are auto-reconciliation methods? (Choose two.)
- A. Balance Match (%tolerance)
- B. Balance has not changed
- C. No Data
- D. Balance is zero and no activity
Answer: A,D
NEW QUESTION 40
Which statement is FALSE of teams?
- A. A team can have another team as a member.
- B. A user can belong to more than one team.
- C. Teams are assigned to profiles on the Workflow tab.
- D. Teams can be assigned a primary user.
Answer: C
NEW QUESTION 41
To which do you assign default currencies?
- A. formats
- B. currency buckets
- C. account ids
- D. organizational units
Answer: B
NEW QUESTION 42
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
Answer: D
NEW QUESTION 43
Which statement about manual matching in transaction matching is FALSE?
- A. You can manually match transactions only if the amounts are within the tolerance.
- B. Transactions for which auto-matching rules did not find matches can be manually matched.
- C. You can create adjustments to balance a match set.
- D. You must be a power user or service administrator to create manual matches.
Answer: A
NEW QUESTION 44
Which statement is FALSE about reconciliations when the period is Closed?
- A. Preparers can submit reconciliations with Open status.
- B. You can load data to reconciliations for the period.
- C. Reconciliations with Pending status can start.
- D. Reviewers can approve reconciliations under review.
Answer: B
NEW QUESTION 45
To which do you assign Holiday Rules?
- A. periods
- B. profiles
- C. calendars
- D. organizational units
Answer: C
NEW QUESTION 46
Which two statements are true about Group reconciliations? (Choose two.)
- A. The Group Detail tab shows data for the group reconciliation sub segments.
- B. You can import balances into periods as pre-mapped data.
- C. You cannot use Data Management to import balances for group reconciliations.
- D. The format for the reconciliation must be enabled for Group Reconciliation.
- E. Group reconciliations include other individual reconciliations as children.
Answer: B,D
NEW QUESTION 47
Where can a service administrator navigate to view, by user, how many reconciliations were completed on time, how many are late, and how many were rejected?
- A. Worklist
- B. Overview Dashboard
- C. Reconciliations List
- D. Compliance Dashboard
Answer: D
NEW QUESTION 48
Which is the minimum user security role required to edit profiles?
- A. Viewer
- B. Power User
- C. Service Administrator
- D. User
Answer: D
NEW QUESTION 49
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. Add a rule of the type Require Team Review to the Rules tab.
- B. Do not select a Primary User for the Account Payable Reviewers team.
- C. On the Workflow tab of the Profile, select All Reviewers in the Require Action By field.
- D. In the Instructions tab of the profile, add instructions for all team members to review the reconciliation.
Answer: C
NEW QUESTION 50
Which two statements are correct about deleting reconciliations? (Choose two.)
- A. Only a Service Administrator or a Power User can delete a reconciliation.
- B. Only the preparer of the reconciliation can delete the reconciliation.
- C. The balances loaded for a period are not deleted when the reconciliation is deleted.
- D. The reconciliation status must be Pending.
Answer: B,C
NEW QUESTION 51
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