Most Recent Oracle 1z0-1107-2 Exam Questions & Answers

Prepare for the Oracle Financials Business Process Foundations Associate Rel 2 exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the Oracle 1z0-1107-2 exam and achieve success.

The questions for 1z0-1107-2 were last updated on Nov 19, 2024.

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Question No. 1

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

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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 No. 2

Glenn Systems has decided to create accounting for payments at the time of issuing, as well as at the time of clearing the payments. Which accounting entry will be generated by the sys-tem when the payment gets reconciled with a bank statement line? (Choose the best Answer.)

ADebit -AP Liability Credit-Cash Clearing Account

BDebit-AP Liability Credit-Cash Account

CDebit-Expense Credit-Cash Account

DDebit Cash Clearing Account Credit-Cash Account

Show Answer

Correct Answer: D

This is the correct accounting entry for reconciling a payment with a bank statement line when the payment is accounted at both issuing and clearing time.The cash clearing account is debited to reduce the balance of the payment that was issued, and the cash account is credited to increase the balance of the cash that was cleared1.Reference:Oracle Financials Business Process Certified Foundations Associate Rel 1

Question No. 3

Robert works as an Asset Accountant for Glenn Systems and tracks the transactions that require attention by using the Additions infotile in the Assets work are

a. Which three statuses can he track by using this infotile? (Choose three.)

AReady to Transfer

BExceptions

CMerged

DIncomplete

EReady to Post

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Correct Answer: B, D, E

These are three statuses that you can track by using the Additions infotile in the Assets work area. The Additions infotile is an infotile that shows the number of asset additions that require attention or action from you.You can use it to view and manage asset additions by their status, such as exceptions, incomplete, ready to post, or ready to transfer1. Some examples of these statuses are:

Exceptions: These are asset additions that have errors or warnings that prevent them from being transferred or posted.

Incomplete: These are asset additions that have missing or incomplete information, such as asset category, cost center, or depreciation method.

Ready to Post: These are asset additions that have been transferred from other sources, such as Payables or Projects, and are ready to be posted to General Ledger.Reference:Oracle Financials Business Process Certified Foundations Associate Rel 1

Question No. 4

Your organization follows the integrated invoice imaging solution to scan and process sup-plier invoices. Steve is a Payables clerk and his job is to regularly review the invoices created from an invoice image that has invalid or missing dat

a. In which status can these invoices be found? (Choose the best Answer.)

AValidated

BNeeds Revalidation

CIncomplete

DNot Validated

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Correct Answer: C

Incomplete is the status in which you can find the invoices created from an invoice image that has invalid or missing data. The integrated invoice imaging solution is a solution that enables you to scan and process supplier invoices using optical character recognition (OCR) technology. The solution automatically creates invoices from invoice images and validates them against your setup data.If the invoice image has invalid or missing data, such as supplier name, invoice number, or invoice amount, the invoice is created with an incomplete status and requires manual intervention1.Reference:Oracle Financials Business Process Certified Foundations Associate Rel 1

Question No. 5

Glenn Systems wants to deploy automatic controls to spot unusual or inappropriate expenses based on audit percentage, policy violations, specific keywords, and individuals with specific status. Which configuration will help them achieve this? (Choose the best Answer.)

AExpense Audit List Rules

BExpense Report Audit Selection Rules

CExpense Report Audit Rules by Expense Templates and Types

DExpense Report Receipt and Notification Rules

Show Answer

Correct Answer: B

Expense Report Audit Selection Rules are the configuration that will help you achieve the deployment of automatic controls to spot unusual or inappropriate expenses based on audit percentage, policy violations, specific keywords, and individuals with specific status. Expense Report Audit Selection Rules are rules that determine which expense reports are selected for audit based on various criteria, such as audit percentage, policy violations, specific keywords, and individuals with specific status.You can define different audit selection rules for different expense templates and types1.Reference:Oracle Financials Business Process Certified Foundations Associate Rel 1

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