Try Free Oracle 1z0-1107-2 Updated Questions & Answers

Question 1

Your manager is about to schedule the create accounting job to generate accounting entries on a periodic basis. Process Category is one of the parameters that could be optionally selected while submitting this job and your manager wants to know its relevance. What will be your response? (Choose the best Answer.)

AProcess Category helps you to restrict the accounting mode as Draft or Final based on which the accounting entries should be generated.

BProcess Category helps you to restrict the ledger for which the accounting entries can be generated.

CProcess Category helps you to restrict the events selected for accounting and it is useful for segmenting events based on processing volumes.

DProcess Category helps you to restrict the subledger application for which the account-ing entries can be generated

Correct answer: C

Process Category is an optional parameter that can be selected while submitting the create accounting job to generate accounting entries on a periodic basis. It helps you to restrict the events selected for accounting and it is useful for segmenting events based on processing volumes.For example, you can create different process categories for high-volume and low-volume transactions, or for different subledger applications2.Reference:Oracle Financials Business Process Certified Foundations Associate Rel 1

Question 2

Which four statements are true about creating assets from Payable Invoice lines by using the Create Mass Additions process? (Choose four.)

APayable Invoice must be validated and accounted.

BInvoice Lines must be charged to a Revenue Account.

CInvoice Lines must be charged to an Asset Account.

DThe 'Track as Asset' check box must be selected for the invoice distribution lines.

EPayable Invoice must be transferred to General Ledger.

Correct answer: A, C, D, E

These are four true statements about creating assets from Payable Invoice lines by using the Create Mass Additions process. The Create Mass Additions process is a process that enables you to create assets from invoice lines in Oracle Payables and import them into Oracle Assets.To use this process, the following conditions must be met1:

The Payable Invoice must be validated and accounted, which means that the invoice has passed the validation rules and has been assigned accounting entries.

The Invoice Lines must be charged to an Asset Account, which is an account that is mapped to an asset category in Oracle Assets.

The ''Track as Asset'' check box must be selected for the invoice distribution lines, which indicates that the invoice lines are eligible for asset creation.

The Payable Invoice must be transferred to General Ledger, which means that the accounting entries for the invoice have been posted to the ledger and are available for reporting.Reference:Oracle Financials Business Process Certified Foundations Associate Rel 1

Question 3

Which three can be captured on an Invoice Header while recording a supplier invoice in the Payables application? (Choose three.)

Aintegration details with other applications

Bdistribution combination

Csupplier details

Dinvoice amount

Einvoice number

Correct answer: C, D, E

These are three attributes that can be captured on an Invoice Header while recording a supplier invoice in the Payables application.An Invoice Header is a section of an invoice that contains general information about the invoice, such as supplier details, invoice amount, invoice number, invoice date, payment terms, or description1. Some examples of these attributes are:

Supplier Details: These are the details of the supplier who issued the invoice, such as supplier name, site, contact person, address, or tax registration number.

Invoice Amount: This is the total amount of the invoice that is payable to the supplier, including taxes and charges.

Invoice Number: This is the unique identifier of the invoice that is assigned by the supplier or by the system.Reference:Oracle Financials Business Process Certified Foundations Associate Rel 1

Question 4

Your organization has hired Steven Johns who will be responsible for analyzing the financial performance and providing feedback for better decision making. Which job role will help Steven Johns to perform his job in the organization? (Choose the best Answer.)

AGeneral Accounting Manager

BCash Manager

CFinancial Analyst

DGeneral Accountant

Correct answer: C

Financial Analyst is the job role that will help Steven Johns to perform his job in the organization. Financial Analyst is responsible for analyzing the financial performance and providing feedback for better decision making. Financial Analyst can use various reporting tools, such as Financial Reporting Web Studio, Smart View, Account Inspector, and Account Monitor, to create and view financial reports, dashboards, charts, and graphs.Financial Analyst can also perform variance analysis, trend analysis, what-if analysis, and drill down to transaction details2.Reference:Oracle Financials Business Process Certified Foundations Associate Rel 1

Question 5

Your organization has decided to apply late charges against overdue customer transactions as well as delayed payments. Your manager has requested you to evaluate the various methods that can be used to calculate late charges. Which three are valid options for calculating late charges? (Choose three.)

AFortnightly Balance

BOverdue Transactions Only

CLate Payments Only

DAverage Quarterly Balance

EOverdue Transactions and Late Payments

Correct answer: B, C, E

These are three valid options for calculating late charges for overdue customer transactions and delayed payments. Late charges are fees that are applied to customers who fail to pay their invoices on time or make partial payments.You can calculate late charges based on various methods, such as overdue transactions only, late payments only, overdue transactions and late payments, or balance forward billing1.Reference:Oracle Financials Business Process Certified Foundations Associate Rel 1

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