Free Oracle 1z1-960 Practice Test & Real Exam Questions

Exam Code/Number: 1z1-960
Exam Name/Title: Oracle Financials Cloud: General Ledger 2017 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud

Exam Questions: 140
Updated On: Jun 15, 2026

Question #10

You are working on a multipillar implementation of both HCM Cloud and ERP Cloud. You implemented HCM first using the Enterprise Structures Configurator (ESC).
Which three things should be considered when implementing ERP Cloud and defining its legal entities, business units, charts of accounts, and ledgers? (Choose three.)

A. Use the Rapid Implementation spreadsheet to create COA hierarchies to an existing implementation.

B. When creating your chart of accounts (COA) structure, do so in the following order: Create value sets, Create the COA structure, and then create the COA instance before assigning values to the value sets.

C. Use the Rapid Implementation spreadsheet when creating your enterprise structure.

D. Manually create your legal entities, chart of accounts structure, ledgers, and business units in the respective application pages.

E. Roll back the ESC first.

Discussion 0

Correct Answer: A,B,E Vote an answer

Question #11

After loading your budget data into General Ledger Cloud, you can view budget balances using these features.
Which feature does not belong on the list?

A. Account Monitor

B. Application Development Framework Desktop Integration Budget Balances Report

C. Smart View

D. Account Inspector

Discussion 0

Correct Answer: A Vote an answer

Question #12

Invoices received from a source system need to use a specific account based on 30 different expense types.
However, if the invoice is from a specific supplier type, it needs to go to a default account regardless of the account type.
What is the solution?

A. Create an Account Rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other without any conditions.

B. Create two journal line rules with a condition of supplier type.

C. Create an Account Rule with two rule elements using one for expense type mapping and the other for the condition of supplier type.

D. Create an Account Rule with 31 rule elements using one condition for each expense type and another for supplier type.

Discussion 0

Correct Answer: C Vote an answer

Question #13

Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses in Australia, New Zealand, and Singapore with a ledger in each country with a Corporate chart of account instance that has four segments.
Which two statements are true regarding the creation of a control budget? (Choose two.)

A. The control budget structure has all the chart of account segments as budget segments.

B. Control budgets are always absolute to generate encumbrance accounting.

C. A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand, and Singapore.

D. A control budget can be associated with a different calendar than accounting calendar.

E. A control budget can allow override rules only if the control level is absolute.

Discussion 0

Correct Answer: D,E Vote an answer

Question #14

Which three objectives must be considered when designing the chart of accounts? (Choose three.)

A. Try to use all 30 segments and 25 characters per segment because you cannot change it later.

B. Consider implementing a single, global chart of accounts

C. Effectively manage an organization's financial business.

D. Limit the number of segments to those you need today to reduce data entry.

E. Anticipate growth and maintenance needs as organizational changes occur.

Discussion 0

Correct Answer: B,C,E Vote an answer

Question #15

Journal Description Rules are assigned to Subledger Journal Entry Rule Sets.
What are the other three subcomponents of a Subledger Journal Entry Rule Set? (Choose three.)

A. Chart of Accounts

B. Journal Line Rules

C. Description Rules

D. Supporting References

E. Accounting Date

F. Account Rules

Discussion 0

Correct Answer: B,C,F Vote an answer

Question #16

Which three reporting tools are based on real-time data or balances?

A. Oracle Financial Reporting (FR)

B. Business Intelligence Publisher (BI Publisher)

C. Oracle Business Intelligence Applications (OBIA)

D. Smart View

E. Oracle transactional Business Intelligence (OTBI)

Discussion 0

Correct Answer: A,D,E Vote an answer

Question #17

You are required to enter a high volume of users into the system. What does Oracle consider best practice to do this?

A. Use the spreadsheet available in Oracle Identity Manager (OIM) to import users.

B. Use the "Hire an Employee" user interface to inter each user manually.

C. Use the "Enter a Supplier" user interface to enter each user manually.

D. Use the spreadsheet templates available in Oracle Enterprise Repository (OER) and then import users into Fusion Applications.

E. Use SQL to populate the HR interface tables and load employees in bulk.

Discussion 0

Correct Answer: A Vote an answer

Question #18

Your customer requires physical invoices to be generated in Payables cloud and Receivables cloud for the intercompany payables and receivables transactions.
What statement is correct with regard to setting this up?

A. You can only associate one Intercompany Organization per Legal Entity.

B. You must perform additional setup steps for Payables Cloud and Receivables Cloud.

C. You only need to assign the Legal Entity and Organization Contact.

D. You must assign the corresponding Receivables and Payables Business Units.

Discussion 0

Correct Answer: D Vote an answer

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