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

Oracle 1Z0-1107-2 Online Questions & Answers

• Question 11:

  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

  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 12:

  Which two statements are true about Oracle Expenses Cloud integration with travel partners? (Choose two.)

  A. Oracle Expenses Cloud supports direct integration only with GetThere.
  B. Oracle Expenses Cloud supports direct integration only with TripActions.
  C. Oracle Expenses Cloud supports direct integration only with Concur.
  D. Oracle Expenses Cloud supports integration with other partners through Rest APIs.
  B. Oracle Expenses Cloud supports direct integration only with TripActions.
  D. Oracle Expenses Cloud supports integration with other partners through Rest APIs.

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  Explanation

  These are two true statements about Oracle Expenses Cloud integration with travel partners. Oracle Expenses Cloud supports direct integration only with TripActions, which is a travel management platform that offers personalized travel options, rewards, and insights. TripActions users can seamlessly sync their travel bookings and receipts with Oracle Expenses Cloud for faster expense reporting3. Oracle Expenses Cloud also supports integration with other partners through Rest APIs, which are web services that allow communication between different systems using standard protocols. Rest APIs enable Oracle Expenses Cloud to exchange data with other travel partners or third-party applications4.

  References: Oracle Financials Business Process Foundations Associate Rel 2, Oracle Expenses Cloud REST API Reference

• Question 13:

  Easy Solutions INC has decided to set up a meals expense policy and you have been given the responsibility to define the policy. Identify the correct sequence of steps that should be per-formed to define the meals expense policy? (Choose the best Answer.)

  A. Completing the Meals Rate Spreadsheet > Setting up Policy Violations > Setting up a Meals Policy > Associating the Meals Expense Policy with an Expendim Type
  B. Setting up a Meals Policy > Setting up Policy Violations > Completing the Meals Rate Spreadsheet > Associating the Meals Expense Policy with an Expense Type
  C. Associating the Meals Expense Policy with an Expense Type > Setting up Policy Violations > Setting up a Meals Policy > Associating the Meals Expense Policy with an Expense Type
  D. Setting up Policy Violations > Setting up a Meals Policy > Completing the Meals Rate Spreadsheet > Associating the Meals Expense Policy with an Expense Type
  B. Setting up a Meals Policy > Setting up Policy Violations > Completing the Meals Rate Spreadsheet > Associating the Meals Expense Policy with an Expense Type

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  Explanation

  This is the correct sequence of steps that should be performed to define the meals expense policy. A meals expense policy is a policy that defines the rules and limits for reimbursing meals expenses incurred by employees during their

  business trips. To set up a meals expense policy, you need to perform the following steps2:

  Setting up a Meals Policy: This step involves creating a meals policy name, description, and effective dates.

  Setting up Policy Violations: This step involves defining the conditions and actions for detecting and handling policy violations, such as warnings, errors, or audit flags.

  Completing the Meals Rate Spreadsheet: This step involves entering the meal rates for different locations, currencies, and time periods in a spreadsheet template and uploading it to the system.

  Associating the Meals Expense Policy with an Expense Type: This step involves linking the meals expense policy with an expense type that is used to categorize and report meals expenses.

  References: Oracle Financials Business Process

  Certified Foundations Associate Rel 1

• Question 14:

  Your organization has decided to automate the entry of cash receipts by using a method where the customer goes and deposits the money directly into your bank account for the due invoices and the banker provides a data file to you. Which method can your organization implement to achieve this? (Choose the best Answer.)

  A. Spreadsheet
  B. Lockbox
  C. Automatic Receipts
  D. Toolbox
  B. Lockbox

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  Explanation

  Lockbox is the method that your organization can implement to automate the entry of cash receipts by using a method where the customer goes and deposits the money directly into your bank account for the due invoices and the banker provides a data file to you. Lockbox is a service provided by banks that allows customers to deposit their payments directly into your bank account without sending them to you. The bank sends you a data file with the details of the payments and the invoices that they apply to. You can import this data file into Oracle Receivables and create receipts automatically1.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 15:

  Glenn Systems has decided to use the batch scheduler functionality to automatically dis- tribute the Budget Vs Actual analysis reports via emails. Which feature of batch scheduler can they use to achieve this? (Choose the best Answer.)

  A. Break Out
  B. Distribute
  C. Explode
  D. Bursting
  D. Bursting

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  Explanation

  Bursting is the feature of batch scheduler that can be used to automatically distribute the Budget Vs Actual analysis reports via emails. Bursting enables you to split a single report based on a key value, such as business unit or ledger, and deliver each report segment to a different recipient or destination, such as email or printer1.

  References: Oracle Financials Business Process Foundations Associate Rel 2

• Question 16:

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

  A. Payable Invoice must be validated and accounted.
  B. Invoice Lines must be charged to a Revenue Account.
  C. Invoice Lines must be charged to an Asset Account.
  D. The "Track as Asset" check box must be selected for the invoice distribution lines.
  E. Payable Invoice must be transferred to General Ledger.
  A. Payable Invoice must be validated and accounted.
  C. Invoice Lines must be charged to an Asset Account.
  D. The "Track as Asset" check box must be selected for the invoice distribution lines.
  E. Payable Invoice must be transferred to General Ledger.

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  Explanation

  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.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 17:

  Which three Cash Management infolets do you find in the Analytics section of the home page? (Choose three.)

  A. Unreconciled
  B. Project Interest Amount
  C. External Transactions
  D. Missing Statements
  E. Cash Balance
  A. Unreconciled
  D. Missing Statements
  E. Cash Balance

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  Explanation

  These are three Cash Management infolets that you can find in the Analytics section of the home page. Infolets are interactive tiles that display key information and metrics for a specific business area. The Cash Management infolets provide a summary of your cash position, bank account balances, reconciliation status, and missing statements2.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 18:

  Easy Solutions INC has operations in the USA, UK, and Germany. USA is the parent entity and it has two subsidiary entities in UK and Germany. USA and UK entities are sharing the same chart of accounts and calendar, whereas the Germany entity has a different chart of ac-count and calendar due to some statutory requirements. Which consolidation method would you recommend to consolidate the financials balances of the Germany entity with the parent entity in the USA? (Choose the best Answer.)

  A. Balance Transfer Consolidation
  B. Oracle Hyperion Financial Management Consolidation
  C. Calculation Manager Consolidation
  D. Reporting only Consolidation
  B. Oracle Hyperion Financial Management Consolidation

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  Explanation

  Oracle Hyperion Financial Management Consolidation is a comprehensive, web-based application that delivers global financial consolidation, reporting and analysis in a single, highly scalable software solution. It supports multiple currencies, intercompany eliminations, minority interest calculations, ownership management, and statutory and management reporting1. It is suitable for consolidating the financial balances of the Germany entity with the parent entity in the USA, as they have different chart of accounts and calendar.

  References: Oracle Financials Business Process Foundations Associate Rel

• Question 19:

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

  A. Ready to Transfer
  B. Exceptions
  C. Merged
  D. Incomplete
  E. Ready to Post
  B. Exceptions
  D. Incomplete
  E. Ready to Post

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  Explanation

  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.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 20:

  Glenn Systems runs an advertising campaign on a monthly basis for which the expenses are incurred by the Head Office. They have a requirement to distribute the advertising ex- penses by each line of business at the end of a period. Which tool can they use to automate the distribution at the end of a period? (Choose the best Answer.)

  A. Calculation Manager
  B. Close Monitor
  C. BI Publisher
  D. Account Group
  A. Calculation Manager

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  Explanation

  Calculation Manager is the tool that you can use to automate the distribution of the advertising expenses by each line of business at the end of a period. Calculation Manager is a tool that enables you to create and manage allocation rules that define how to distribute amounts from a source to one or more destinations based on various criteria, such as percentages, ratios, or formulas. You can schedule and run allocation rules periodically or on demand1.

  References: Oracle Financials Business Process Foundations Associate Rel 2