1Z0-960 Oracle Financials Cloud Questions

Oracle 1Z0-960 exam is a required test for Oracle Cloud certification. Oracle Cloud is a technical professional who Business Financials Management Oracle Financials Cloud . To help you pass Oracle 1Z0-960 exam, latest Oracle 1Z0-960 exam questions are available for you.

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Question: 1
You are defining intercompany balancing rules that are applied to a specific source and category,
such as payables and invoices, or a specific intercompany transaction type, such as Intercompany
Sales.
Which two statements are correct?
A. You must define rules for every combination of specific categories and sources. Otherwise, the
intercompany balancing will not work.
B. You can create a rule for all sources and categories by selecting the source "Other" and the
category "Other."
C. If you choose to have rules at various levels, then intercompany balancing evaluates the rules in
this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value.
D. Set up a chart of accounts rule for every chart of accounts structure you have in order to ensure
that Intercompany Balancing will always find a rule to use to generate balancing accounts.
Answer: A,C

Question: 2
Alter submitting the journal for approval, you realize that the department value in the journal
incorrect. How do you correct the value?
A. Delete the journal and create a new journal.
B. Update the journal through workflow
C. Click the Withdraw Approval button in the Edit Journals page and edit the journal.
D. Reverse the journal and create a new one.
Answer: B

Question: 3
What are the tables or views from which the Create Accounting program takes source data that is
used in rules to create journal entries?
A. Transaction Objects
B. Event Entities
C. Mapping Sets
D. Accounting attributes E. Event Classes
Answer: A

Question: 4
You are reconciling your subledger balances and you need a report that includes beginning and
ending account balances and all transactions that constitute the account's activities.
What type of report will provide this type of information?
A. An Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on
transactions and balances
B. Account Analysis Reports
C. Journals Reports
D. Aging Reports
Answer: C

Question: 5
You need to define multiple allocation rules as efficiently as possible.
Which three components can be reused across allocation rules?
A. Point of View (POV)
B. Run Time Prompts (RTP)
C. Formulas
D. RuleSets
Answer: B,C,D

Question: 6
You created your first Implementation Project and assigned the Application Implementation
Consultant role to your user. However, you are unable to access Oracle Identity Management (OIM).
This issue was caused because you did not assign the _____.
A. Line Manager role to your user
B. Application Implementation Manager role to your user
C. IT Security Manager role to your user
D. Superuser role to your user
Answer: A

Question: 7
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 a new fiscal
year.
Answer: D

Question: 8
Your customer wants to have balance sheets and income statements for their cost center and
program segments. That is, they want 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. Ledger balancing rules will need to be defined to instruct the system on how to generate
balancing entries for the second and third balancing segments.
Answer: A,D

Question: 9
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.
Answer: A,B,C