Oracle Financials Cloud: General Ledger 2017 Implementation Essentials (1z0-960) Free Practice Test

Question 1

Which AMX builder method is most effective in routing the journals to the Accounting Manager when his subordinate, the General Accountant, enters a journal?

A. Approval Groups

B. Management Chain approval

C. Dynamic Approval Groups

D. Supervisory level approval

E. Cost center based approval

Correct Answer: D

Question 2

All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting.
What is Oracle's recommended approach to performing consolidations?

A. Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.

B. Use Oracle Hyperion Financial Management for this type of complex consolidation.

C. Define multiple ledgers for consolidation and report on ledger set.

D. Use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment.

Correct Answer: B

Question 3

Which two General Ledger work would you assign to all your entry-level General Ledger accountants?

A. Financial Reporting Center

B. Period Close Work Area

C. General Accounting Dashboard

D. Journals Work Area

Correct Answer: C,D

Question 4

Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation.
What feature can you use to be proactively notified of account anomalies in a more timely manner?

A. Account Monitor

B. Account Inspector and its charts

C. Financial Reports with Embedded charts

D. Smart View

Correct Answer: D

Question 5

Your customer is expanding its operations. You defined a new ledger and several business units. However, you are unable to assign the newly generated data roles to existing Accounts Payables and Accounts Receivables users in the shared service center.
What should you do to correct the problem?

A. Open Access Policy Manager (APM) and assign the roles manually

B. Open the Oracle Identity Management (OIM) and make sure the data roles were created.

C. Make sure you run the Retrieve Latest LDAP Changes program to regenerate the data roles.

D. Open the Manage Users page and make sure the employees at

Correct Answer: A

Question 6

Your customer has enabled budgetary control for purchase orders. They have a purchase order for $1,000 USD which is fully reserved. An invoice for $600 USD is entered and to the purchase order, and the purchase order is closed for further invoicing.
What happens to the remaining $400 USD?

A. Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of
$400 USD.

B. Invoice type will have less funds available by $400 USD.

C. Only obligation type will have $400 USD funds available.

D. $400USD will be expired and not available for use.

E. $400 USD will be added back to available funds

Correct Answer: B

Question 7

Identify three roles that get access to the reports in the Fusion Accounting Hub Reporting Cloud Service (FAHRCS). (Choose three.)

A. Business Intelligence Administrator (BI Admin)

B. General Accounting Manager

C. General Accountant

D. Controller

E. Financial Analyst

Correct Answer: A,B,E

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Oracle Financials Cloud: General Ledger 2017 Implementation Essentials (1z0-960) Free Practice Test