Oracle Account Reconciliation 2020 Implementation Essentials

Normal Balance attribute in a profile

Question

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

Answers

Explanations

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A. B. C. D.

D.

https://docs.oracle.com/en/cloud/saas/account-reconcile-cloud/suarc/setup_profile_create_profile_106xc6e8be7c.html

The Normal Balance attribute in a profile is used to indicate the expected balance of the account being reconciled. This attribute is used in Oracle Account Reconciliation Cloud Service (ARCS) to help ensure that the reconciliation process is completed accurately and efficiently.

Answer A is incorrect because the Normal Balance attribute is not assigned automatically based on the account type. Instead, the Normal Balance attribute must be manually set for each account in the system.

Answer B is incorrect because preparers can save a reconciliation regardless of whether the balance type is other than expected. However, if the balance type does not match the expected value, the reconciliation will display a warning to the preparer.

Answer C is incorrect because selecting the Normal Balance attribute does not cause a warning to be displayed if the balance is zero. Instead, the attribute is used to indicate whether the balance should be positive or negative.

The correct answer is D. When the Normal Balance attribute is selected for an account in ARCS, the system will display a warning if the balance type for a reconciliation is other than expected. This helps ensure that any discrepancies are identified and resolved before the reconciliation process is complete.