Oracle 1Z0-1107-2 Online Practice Questions and Exam Preparation

Oracle 1Z0-1107-2 Online Questions & Answers

• Question 1:

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

  A. integration details with other applications
  B. distribution combination
  C. supplier details
  D. invoice amount
  E. invoice number
  C. supplier details
  D. invoice amount
  E. invoice number

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  explanation:

  Explanation

  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.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 2:

  One of the internal auditors in your organization is reviewing subledger journals and want more details about the rules that were used to generate these journals. What would you use to review these rules? (Choose the best Answer.)

  A. Account Monitor
  B. the Account Override page
  C. the Analyze Journal Entry page
  D. the Create Journals page
  C. the Analyze Journal Entry page

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  explanation:

  Explanation

  The Analyze Journal Entry page is the tool that you can use to review the rules that were used to generate subledger journals. The Analyze Journal Entry page allows you to view the details of subledger journal entries, such as source, category, ledger, accounting date, and status. You can also drill down to the subledger accounting events and lines, and view the accounting rules and mappings that were applied to create the journal entries1.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 3:

  Which two statements are true about creating case folders within the Customer Statement to Collections business process? (Choose two.)

  A. Billing transactions must belong to the same bill-to customer.
  B. Billing transactions must be of the same currency.
  C. Billing transactions can belong to multiple case folders.
  D. Billing transactions can be of multiple currencies.
  C. Billing transactions can belong to multiple case folders.
  D. Billing transactions can be of multiple currencies.

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  explanation:

  Explanation

  These are two true statements about creating case folders within the Customer Statement to Collections business process. A case folder is a collection of billing transactions that are related to a specific issue or dispute with a customer. You

  can create case folders to track and resolve issues that prevent customers from paying their invoices on time. You can also assign case owners, statuses, and priorities to each case folder1. Some facts about creating case folders are:

  Billing transactions can belong to multiple case folders, which means that a single invoice can be part of more than one issue or dispute. Billing transactions can be of multiple currencies, which means that you can include invoices with different currencies in the same case folder. Billing transactions must belong to the same bill-to customer, which means that you cannot mix invoices from different customers in the same case folder. Billing transactions must be of the same currency conversion type, which means that you cannot mix invoices with different conversion methods, such as corporate or spot rate, in the same case folder.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 4:

  John is working as a Cash Manager for Glenn Systems and regularly uses the Unreconciled infolet to review the unreconciled Bank Statement Lines and System Transactions. He is not able to find the details of some transactions on this infolet because there is a limitation for the number of days for which the data appears on this infolet. Identify the number of days for which data appears on this infolet.? (Choose the best Answer.)

  A. last 55 days
  B. last 50 days
  C. last 65 days
  D. last 45 days
  D. last 45 days

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  explanation:

  Explanation

  The Unreconciled infolet displays data for the last 45 days by default. The Unreconciled infolet is an infolet that shows the unreconciled bank statement lines and system transactions for your bank accounts. You can use it to monitor and reconcile your cash transactions with your bank statements. You can also change the number of days for which data appears on this infolet by using the filter option1.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 5:

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

  A. Validated
  B. Needs Revalidation
  C. Incomplete
  D. Not Validated
  C. Incomplete

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  explanation:

  Explanation

  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.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 6:

  Invoice Number S10231234 for USD 1000 was raised for the customer "Business World" on 1st January 2022 with a payment term of 30 days. This invoice became due on 31st January 2022, but the customer has not yet made the payment due to an unresolved dispute. Which subprocess in the Invoice to Cash life cycle flow helps you to manage and resolve disputes for such type of delinquent invoices? (Choose the best Answer.)

  A. Customer Invoice to Receipt
  B. Customer Contract to Revenue
  C. Customer Statement to Collection
  D. Bank Transaction to Position
  C. Customer Statement to Collection

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  explanation:

  Explanation

  Customer Statement to Collection is the subprocess in the Invoice to Cash life cycle flow that helps you to manage and resolve disputes for delinquent invoices. It involves sending statements to customers, identifying overdue invoices, contacting customers, applying late charges, creating dispute cases, and applying adjustments or write-offs2.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 7:

  Collector Jim Jones is working on a delinquent customer account and he has created some action items to follow up with this customer, including making a phone call and a personal vis-it. On which infotile can he find these action items? (Choose the best Answer.)

  A. Delinquent
  B. Activities
  C. Strategy Tasks
  D. Promises
  B. Activities

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  explanation:

  Explanation

  Activities is the infotile where you can find the action items that you have created to follow up with a delinquent customer. Activities is an infotile that shows the list of tasks that you have scheduled or completed for your collections activities, such as phone calls, emails, letters, visits, or disputes. You can use it to view the details of each activity, such as status, priority, due date, and outcome1.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 8:

  Your organization has decided to use the Balance Forward Billing feature to consolidate multiple invoices into a single bill and you have been asked to configure this feature. What is the recommended order of steps that needs to be followed to complete your configuration? (Choose the best Answer.)

  A. Define BFB Payment Terms > Attach BFB Payment Terms to Customer > Enable BFB in the Customer Profile > Define BFB Billing Cycle
  B. Define BFB Payment Terms > Define BFB Billing Cycle > Enable BFB in the Customer Profile > Attach BFB Payment Terms to Customer
  C. Enable BFB in the Customer Profile > Define BFB Payment Terms > Define BFB Billing Cycle > Attach BFB Payment Terms to Customer
  D. Define BFB Billing Cycle > Define BFB Payment Terms > Enable BFB in the Customer Profile > Attach BFB Payment Terms to Customer
  D. Define BFB Billing Cycle > Define BFB Payment Terms > Enable BFB in the Customer Profile > Attach BFB Payment Terms to Customer

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  explanation:

  Explanation

  This is the recommended order of steps that needs to be followed to complete your configuration of the Balance Forward Billing feature. Balance Forward Billing is a feature that enables you to consolidate multiple invoices into a single bill and send it to your customers at regular intervals, such as monthly or quarterly. To configure Balance Forward Billing, you need to perform the following steps1: Define BFB Billing Cycle: This step involves creating a billing cycle name, description, and frequency for generating balance forward bills. Define BFB Payment Terms: This step involves creating payment terms that specify the due date and discount date for balance forward bills. Enable BFB in the Customer Profile: This step involves enabling the Balance Forward Billing option in the customer profile class or customer account level. Attach BFB Payment Terms to Customer: This step involves assigning the balance forward payment terms to the customer account or site level.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 9:

  Which two statements are true about running the financial statements that are designed using Financial Reporting Web Studio? (Choose two.)

  A. Financial statements can be generated using different hierarchies to represent the data from different perspectives.
  B. Financial statements can be generated only in HTML format.
  C. Financial statements are generated using the data directly from the transactional tables.
  D. Business users can easily slice and dice the data across dimensions, and drill up, down, and sideways at any parent level.
  A. Financial statements can be generated using different hierarchies to represent the data from different perspectives.
  D. Business users can easily slice and dice the data across dimensions, and drill up, down, and sideways at any parent level.

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  explanation:

  Explanation

  These are two true statements about running the financial statements that are designed using Financial Reporting Web Studio. Financial Reporting Web Studio is a tool that enables users to create and manage financial reports using data from various sources, such as General Ledger or Essbase Cubes. Users can generate financial statements using different hierarchies to represent the data from different perspectives, such as legal entity, business unit, segment, or account. Users can also easily slice and dice the data across dimensions, and drill up, down, and sideways at any parent level to analyze the details behind the numbers2.

  References: Oracle Financials Business Process Foundations Associate Rel 2

• Question 10:

  Ganesh works for Glenn Systems as a General Accountant and he has a requirement to create periodic allocations at the end of the month to distribute welfare expenses. The allocations will be based on headcounts in each department. In which currency should the journal entry be created to load the headcounts? (Choose the best Answer.)

  A. Statistical Currency
  B. Reporting Currency
  C. Foreign Currency
  D. Ledger Currency
  A. Statistical Currency

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  explanation:

  Explanation

  Statistical Currency is the currency that you should use to create the journal entry to load the headcounts. Statistical Currency is a special currency that is used to record non-monetary values, such as headcounts, units, or hours. You can use Statistical Currency to create allocation journals based on non-monetary bases or drivers1.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1