1Z0-1087-22 Online Practice Questions and Answers

Which two statements are correct about deleting reconciliations? (Choose two.)

A. The reconciliation status must be Pending.

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. Only a Service Administrator or a Power User can delete a reconciliation.

Which statement is true regarding the Normal Balance attribute in a profile?

A. It is assigned automatically based on the account type.

B. Preparers cannot save a reconciliation if the balance type is other than expected.

C. When it is selected, reconciliations display a warning if their balance is zero.

D. Reconciliations display a warning if the balance type is other than expected.

Which statement about rules is FALSE?

A. A rule can set a reconciliation attribute to a specified value when the rule conditions are met.

B. You can use a saved filter as the condition in a rule.

C. Profiles inherit rules from their formats.

D. A profile can have a maximum of three rules.

Which reconciliation method is appropriate for a prepaid insurance reconciliation that explains the current month balance?

A. Balance Comparison

B. Transaction Matching

C. Variance Analysis

D. Account Analysis

To which do you assign default currencies?

A. currency buckets

B. account ids

C. organizational units

D. formats

Which statement is true for profiles that have a Quarterly frequency selected?

A. They must be assigned a quarterly calendar.

B. You cannot create reconciliations for profiles with transaction matching reconciliation methods for quarterly periods.

C. You can create reconciliations for those profiles only in periods that have Quarterly frequency selected.

D. The balances for quarterly reconciliations aggregate the balances from monthly reconciliations.

When can you run auto-matching for a transaction matching reconciliation?

A. after you load transactions to the reconciliation data sources

B. after the period end date is reached

C. after the reconciliation meets its start date

D. after the reconciliation status changes to Open With Preparer

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.

Which two tasks can be performed using EPM Automate?

A. Set period status.

B. Export journals.

C. Import match types.

D. Load pre-mapped balances.

A team has been assigned as the preparer for a reconciliation, and one team member is designated as the primaryuser.

What characterizes the primary user?

A. The system automatically re-assigned the reconciliation to the primary user when the current preparer is out of the office.

B. The primary user must approve the reconciliation before the preparer submits the reconciliation.

C. The primary user can edit the reconciliation properties.

D. The system automatically claims the reconciliation for the primary use when the reconciliation status changes to Open (with preparer).