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

Oracle 1Z0-1107-2 Online Questions & Answers

• Question 1:

  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

  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 2:

  Cash Management provides you the flexibility to create external transactions. Which two types of transactions can be categorized as external? (Choose two.)

  A. penalty for delayed supplier payments
  B. late charges on delayed customer payments
  C. bank charges
  D. bank interest
  C. bank charges
  D. bank interest

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  Explanation

  These are two types of transactions that can be categorized as external in Cash Management. External transactions are transactions that are not generated by Oracle applications, but are manually entered or imported from external sources, such as bank statements or third-party systems. External transactions can include bank charges, bank interest, bank errors, adjustments, or transfers1.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 3:

  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.)

  A. Process Category helps you to restrict the accounting mode as Draft or Final based on which the accounting entries should be generated.
  B. Process Category helps you to restrict the ledger for which the accounting entries can be generated.
  C. Process Category helps you to restrict the events selected for accounting and it is useful for segmenting events based on processing volumes.
  D. Process Category helps you to restrict the subledger application for which the account- ing entries can be generated
  C. Process Category helps you to restrict the events selected for accounting and it is useful for segmenting events based on processing volumes.

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  Explanation

  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.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 4:

  Your organization has recently made changes to one of the accounting rules to comply with the new accounting requirement. In which mode will you generate the accounting to verify that the changes made to the rule are producing the desired accounting entries before generating the final accounting? (Choose the best Answer.)

  A. Provisional
  B. Temporary
  C. Draft
  D. Interim
  C. Draft

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  Explanation

  Draft is the mode that you will use to generate the accounting to verify that the changes made to the rule are producing the desired accounting entries before generating the final accounting. Draft mode allows you to create accounting entries that are not final and can be deleted or modified later. You can use draft mode to test your accounting rules and verify the accuracy of your accounting entries before posting them to General Ledger1.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 5:

  Your organization has decided to use the automatic reconciliation feature to reconcile bank statement lines with system transactions. Which three components will be useful for the auto-matic reconciliation of bank statements with system transactions? (Choose three.)

  A. Transaction Grouping Rules
  B. Tolerance Rules
  C. Matching Rules
  D. Parse Rule Set
  E. Transfer Rules
  A. Transaction Grouping Rules
  B. Tolerance Rules
  C. Matching Rules

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  Explanation

  These are three components that will be useful for the automatic reconciliation of bank statements with system transactions. Automatic reconciliation is a feature that enables you to reconcile bank statement lines with system transactions without manual intervention. You can use various components to define the criteria and conditions for automatic reconciliation1. Some of these components are: Transaction Grouping Rules: These are rules that determine how system transactions are grouped together for reconciliation purposes. You can group transactions by attributes, such as bank account, currency, transaction type, or payment method. Tolerance Rules: These are rules that define the acceptable differences between bank statement lines and system transactions for reconciliation purposes. You can define tolerances by amount or percentage, and by bank account or currency. Matching Rules: These are rules that specify how bank statement lines and system transactions are matched for reconciliation purposes. You can match transactions by attributes, such as transaction number, amount, date, or reference number.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 6:

  Robert works as a General Accountant for Glenn Systems and he has a requirement to inquire and analyze the GL Account balances on a regular basis. Which tool can he use to in-quire and analyze the GL Account balances online? (Choose the best Answer.)

  A. Account Inspector
  B. Account Tracker
  C. Balance Tracker
  D. Balance Inspector
  B. Account Tracker

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  Explanation

  Account Tracker is a tool that enables you to drill down from balances to journals and subledger transactions. You can use it to inquire and analyze the GL account balances online. You can also view graphical representations of balances and drill down to source transactions3.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 7:

  Glenn Systems has decided to enable the Additional Duplicate Invoice Check feature. Which three additional attributes are considered for duplicate invoice check when this feature is enabled? (Choose three.)

  A. Supplier Tax Registration Number
  B. Invoice Amount
  C. Invoice Date
  D. Invoice Type
  E. Supplier Location
  B. Invoice Amount
  C. Invoice Date
  D. Invoice Type

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  Explanation

  These are three additional attributes that are considered for duplicate invoice check when the Additional Duplicate Invoice Check feature is enabled. The Additional Duplicate Invoice Check feature is a feature that enables you to perform a more comprehensive check for duplicate invoices in Oracle Payables. The feature compares the invoice number, supplier name, supplier site, invoice amount, invoice date, and invoice type of the invoices and flags any potential duplicates1.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 8:

  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

  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 9:

  Your organization wants to implement a process that helps in recording requisitions, buying goods or services, and managing supplier invoices and payments. Which Financials business process would you recommend to achieve this? (Choose the best Answer.)

  A. Asset to Retirement
  B. Budget to Report
  C. Invoice to Cash
  D. Procure to Pay
  D. Procure to Pay

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  Explanation

  Procure to Pay is a business process that covers the steps from requesting, ordering, receiving, and paying for goods or services. It involves requisitions, purchase orders, invoices, payments, and supplier management2. It is the recommended process for recording requisitions, buying goods or services, and managing supplier invoices and payments.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 10:

  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.)

  A. Expense Audit List Rules
  B. Expense Report Audit Selection Rules
  C. Expense Report Audit Rules by Expense Templates and Types
  D. Expense Report Receipt and Notification Rules
  B. Expense Report Audit Selection Rules

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  Explanation

  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.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1