[Nov 26, 2023] Pass Oracle Foundation 1z0-1107-2 Exam With 48 Questions
Ultimate Guide to Prepare Free Oracle 1z0-1107-2 Exam Questions and Answer
NEW QUESTION # 11
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. supplier details
- C. invoice number
- D. distribution combination
- E. invoice amount
Answer: B,C,E
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. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 12
Which four statements are true about an effective subledger period close? (Choose four.)
- A. Payable must be closed before closing Fixed Assets.
- B. Payable must be closed before Projects.
- C. Fixed Assets must be closed before Receivables.
- D. Projects must be closed before Fixed Assets.
- E. Fixed Assets must be closed before Payables.
Answer: B,C,D,E
Explanation:
These are four true statements about an effective subledger period close. A subledger period close is a process that ensures that all transactions and adjustments in a subledger application, such as Projects, Payables, Fixed Assets, or Receivables, are accounted and transferred to General Ledger for a given period. To perform an effective subledger period close, you need to follow a recommended sequence of steps and dependencies among different subledger applications1. Some of these steps and dependencies are:
Projects must be closed before Fixed Assets, which means that you need to ensure that all project-related transactions and adjustments are accounted and transferred to General Ledger before creating or adjusting any assets from projects in Fixed Assets.
Payable must be closed before Projects, which means that you need to ensure that all supplier invoice and payment transactions and adjustments are accounted and transferred to General Ledger before creating or adjusting any project expenditures from Payables in Projects.
Fixed Assets must be closed before Payables, which means that you need to ensure that all asset addition, depreciation, adjustment, and retirement transactions and adjustments are accounted and transferred to General Ledger before creating or adjusting any supplier invoices from assets in Payables.
Fixed Assets must be closed before Receivables, which means that you need to ensure that all asset-related transactions and adjustments are accounted and transferred to General Ledger before creating or adjusting any customer invoices from assets in Receivables. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 13
Which statement is true regarding the impact of absences on an employee's net pay?
- A. Some absences will affect the employee's net pay.
- B. Absence Management and Payroll are not directly connected.
- C. No absences will affect the employee's net pay.
- D. All absences will affect the employee's net pay.
Answer: A
Explanation:
Some absences will affect the employee's net pay depending on whether they are paid or unpaid absences, and whether they have any impact on the employee's earnings or deductions. For example, a paid sick leave absence will reduce the employee's available sick leave balance and increase their sick leave earnings, while an unpaid leave of absence will reduce the employee's regular earnings and may affect their benefit eligibility. Absence management and payroll are directly connected through absence elements that are used to transfer absence data to payroll. Not all absences will affect the employee's net pay, because some absences may have no impact on earnings or deductions, such as a paid holiday or a jury duty absence. Reference: [Oracle Absence Management Cloud User Guide], [Oracle Absence Management Cloud Implementation Guide]
NEW QUESTION # 14
Sharon is working as a collections manager and he is interested in performing an analysis based on the difference between the date of settlement and the due date of payment of invoice. Which key performance indicator will help him to review this information? (Choose the best Answer.)
- A. Collector Effective Index
- B. Promise to Pay
- C. Days Sales Outstanding
- D. Percent Current
- E. Average Days Delinquent
Answer: E
Explanation:
Average Days Delinquent is the key performance indicator that will help you to perform an analysis based on the difference between the date of settlement and the due date of payment of invoice. Average Days Delinquent is a measure of how long it takes for customers to pay their overdue invoices. It is calculated by dividing the total number of delinquent days by the number of delinquent invoices. It indicates the average delay in payment and the effectiveness of your collections efforts1. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 15
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. Activities
- B. Delinquent
- C. Strategy Tasks
- D. Promises
Answer: A
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. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 16
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.)
- A. General Accountant
- B. Financial Analyst
- C. General Accounting Manager
- D. Cash Manager
Answer: B
Explanation:
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
NEW QUESTION # 17
An HR Administrator has designed the performance evaluation process to suit the competencies tied to an employee role. The administrator also designed the ability to rate how an employee progressed throughout the year to show areas where they have improved. The performance evaluation is designed in such a way that employees can rate their competencies. Other than this information, what criteria is required?
- A. Communication Style
- B. Skills
- C. Goals
- D. Job Role
Answer: C
Explanation:
Apart from competencies, another criteria that is required for the performance evaluation process is goals, which are the specific, measurable, achievable, relevant, and time-bound objectives that the employee sets and works towards during the performance period. Goals are an essential part of the performance evaluation process, because they help align the employee's work with the organization's strategy and vision, as well as measure the employee's progress and achievements. Skills, job role, and communication style are not criteria that are required for the performance evaluation process, but rather information that can be used for other purposes such as talent management or career development. Reference: Oracle Performance Management Cloud User Guide, Oracle Performance Management Cloud User Guide
NEW QUESTION # 18
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?
- A. Customer Statement to Collection
- B. Customer Contract to Revenue
- C. Customer Invoice to Receipt
- D. Bank Transaction to Position
Answer: A
Explanation:
The subprocess in the Invoice to Cash life cycle flow that helps you to manage and resolve disputes for delinquent invoices is Customer Statement to Collection. This subprocess involves sending statements and collection letters to customers who have outstanding balances, managing disputes and deductions, and initiating collection actions. The other three subprocesses are not related to managing and resolving disputes for delinquent invoices. They are:
Bank Transaction to Position: This subprocess involves importing bank statements, reconciling bank transactions with system transactions, and reporting cash positions.
Customer Contract to Revenue: This subprocess involves creating and managing customer contracts, generating revenue and billing events based on contract terms and conditions, and recognizing revenue according to accounting standards.
Customer Invoice to Receipt: This subprocess involves creating and sending invoices to customers for the goods or services delivered, recording and applying customer payments to outstanding invoices, and sending reminders or dunning letters to customers who have overdue invoices. Reference: Oracle Financials Business Process Foundations Associate Rel 2, page 17-18.
NEW QUESTION # 19
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. Lockbox
- B. Spreadsheet
- C. Automatic Receipts
- D. Toolbox
Answer: A
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. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 20
What terminology is used to label people who were referred for a job requisition or added to a job requisition but who haven't yet completed their job application?
- A. Referred
- B. Applicant
- C. Prospect
- D. Candidate
Answer: C
Explanation:
The terminology used to label people who were referred for a job requisition or added to a job requisition but who haven't yet completed their job application is prospect, which is a type of candidate that has not yet applied for a job but has been identified as a potential fit by a recruiter, a hiring manager, or an employee referral. Prospects can be converted to applicants once they complete their job application and submit their resume. Applicant, referred, and candidate are not terminology used to label people who were referred for a job requisition or added to a job requisition but who haven't yet completed their job application, but rather types of candidates that have different statuses or sources in the recruiting system. Applicant is a type of candidate that has applied for a job and submitted their resume. Referred is a source of candidate that indicates that the candidate was referred by an existing employee. Candidate is a generic term that encompasses both prospects and applicants. Reference: [Oracle Recruiting Cloud User Guide], [Oracle Recruiting Cloud User Guide], [Oracle Recruiting Cloud User Guide], [Oracle Recruiting Cloud User Guide], Oracle Recruiting Cloud User Guide
NEW QUESTION # 21
Which Absence-related data can an employee access apart from being able to add an absence and review existing absences?
- A. Absence Processing Rules
- B. Absence Calculation Rules
- C. Plan Balances
- D. Balance Adjustment Requests
Answer: C
Explanation:
Employees can access their plan balances from the Absence Balance page, which shows the current balance and projected balance for each absence plan they are enrolled in1. Absence calculation rules and absence processing rules are not visible to employees, but only to administrators2. Balance adjustment requests are not a type of absence-related data, but a type of action that employees can perform to request changes to their plan balances3. Reference: Oracle Absence Management Cloud User Guide, Oracle Absence Management Cloud Implementation Guide, Oracle Global Human Resources Cloud User Guide
NEW QUESTION # 22
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. Matching Rules
- B. Transaction Grouping Rules
- C. Parse Rule Set
- D. Transfer Rules
- E. Tolerance Rules
Answer: A,B,E
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. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 23
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 can be of multiple currencies.
- C. Billing transactions can belong to multiple case folders.
- D. Billing transactions must be of the same currency.
Answer: B,C
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. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 24
Cash Management provides you the flexibility to create external transactions. Which two types of transactions can be categorized as external? (Choose two.)
- A. late charges on delayed customer payments
- B. penalty for delayed supplier payments
- C. bank charges
- D. bank interest
Answer: C,D
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. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 25
Your executive team likes the information that gets displayed in the budget worksheet, but they would like to change the order in which the columns appear. How would you accomplish this task?
- A. Use the default sequence field for each column.
- B. Use the display order for each column.
- C. Drag the columns to appear in the order that you want them.
- D. You cannot change the order in which the columns appear.
Answer: B
Explanation:
The way to accomplish the task of changing the order in which the columns appear in the budget worksheet is to use the display order for each column, which is a field that determines the sequence of the columns from left to right in the budget worksheet. The display order can be set or modified from the Configure Budget Worksheet page, where each column can be assigned a numerical value that indicates its position in the budget worksheet. You cannot change the order in which the columns appear, use the default sequence field for each column, and drag the columns to appear in the order that you want them are not ways to accomplish the task of changing the order in which the columns appear in the budget worksheet, but rather incorrect or invalid options that do not reflect the actual functionality or behavior of the system. Reference: [Oracle Compensation Cloud User Guide], [Oracle Compensation Cloud User Guide]
NEW QUESTION # 26
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 Statement to Collection
- B. Customer Contract to Revenue
- C. Customer Invoice to Receipt
- D. Bank Transaction to Position
Answer: A
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. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 27
Your company will be using compensation history to display compensation for employees and managers. What are the 4 groups of compensation history that will be displayed? (Choose four.)
- A. Other Compensation
- B. Salary
- C. Recurring Payments
- D. Benefits
- E. Stock
- F. Payroll
Answer: B,C,D,F
Explanation:
The compensation history page displays the compensation for employees and managers in four groups: recurring payments, benefits, salary, and payroll1. Recurring payments include any regular earnings or deductions that are not part of the base salary, such as allowances, bonuses, commissions, or taxes2. Benefits include any employer-provided or employee-elected benefits that have a monetary value, such as health insurance, retirement plans, or stock options3. Salary includes the base salary and any salary changes that occurred during the selected period. Payroll includes the payroll results and payslips for each payroll period that the employee was paid in. Other compensation and stock are not groups of compensation history, but rather types of compensation that may fall under one of the four groups. Reference: Oracle Compensation Cloud User Guide, Oracle Global Payroll Cloud User Guide, Oracle Benefits Cloud User Guide, [Oracle Global Human Resources Cloud User Guide], [Oracle Global Payroll Cloud User Guide]
NEW QUESTION # 28
Your organization has decided to use specific business days for which the transactions should be considered in the cash positioning report. Which calendar would you assign to achieve this requirement on the Specify Cash Positioning and Forecast Options page? (Choose the best Answer.)
- A. Default Transaction Calendar
- B. Default Prorate Calendar
- C. Default Accounting Calendar
- D. Default Source Calendar
Answer: A
Explanation:
Default Transaction Calendar is the calendar that you would assign to achieve the requirement of using specific business days for which the transactions should be considered in the cash positioning report. The Specify Cash Positioning and Forecast Options page is a page where you can define the options and preferences for generating and viewing the cash positioning report. You can assign a default transaction calendar to specify the business days that are used to filter and group transactions in the report. The default transaction calendar can be different from the accounting calendar or the source calendar1. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 29
Which of the following are KPIs within the Expense Report to Reimbursement process? (Choose three)
- A. Expense vs Budget
- B. Payment Cycle Time
- C. Average Invoice Age
- D. Process Cost to Perform Reimbursements
- E. Number of Delinquent Accounts
Answer: A,B,D
Explanation:
The KPIs within the Expense Report to Reimbursement process are expense vs budget, payment cycle time, and process cost to perform reimbursements. Expense vs budget measures the variance between the actual expenses incurred by employees and the budget allocated for them by the organization. Payment cycle time measures the average number of days it takes to reimburse employees for their approved expense reports. Process cost to perform reimbursements measures the total cost of processing expense reports and issuing payments to employees. Number of delinquent accounts and average invoice age are not KPIs within the Expense Report to Reimbursement process, but rather KPIs within the Invoice to Cash process, which involves billing customers and collecting payments for goods or services. Reference: Oracle Expenses Cloud User Guide, Oracle Expenses Cloud User Guide, Oracle Receivables Cloud User Guide, Oracle Receivables Cloud User Guide
NEW QUESTION # 30
What ate the three ways by which a new employee can be added to the HR system? (Choose three.)
- A. Hire Employee
- B. Add Pending Worker
- C. Convert Pending Worker
- D. Mass Upload Employees
- E. Employee Self Register
Answer: A,B,D
Explanation:
There are three ways by which a new employee can be added to the HR system: add pending worker, hire employee, and mass upload employees. Adding a pending worker is a process that creates a person record with minimal information and assigns a pending worker person type, which can be later converted to an employee or a contingent worker. Hiring an employee is a process that creates a person record with full information and assigns an employee person type, as well as creates a work relationship, assignment, and payroll relationship for the person. Mass uploading employees is a process that uses the HCM Data Loader to import employee data from an external source and create person records with employee person type and other related objects. Converting a pending worker is not a way to add a new employee, but rather a way to change the person type of an existing pending worker to an employee or a contingent worker. Employee self register is not a way to add a new employee, but rather a feature that allows existing employees to update their own personal information. Reference: [Oracle Global Human Resources Cloud User Guide], [Oracle Global Human Resources Cloud User Guide], [Oracle Global Human Resources Cloud User Guide], [Oracle HCM Cloud Data Loader User Guide], [Oracle Global Human Resources Cloud User Guide]
NEW QUESTION # 31
Which three Cash Management infolets do you find in the Analytics section of the home page? (Choose three.)
- A. Unreconciled
- B. Missing Statements
- C. External Transactions
- D. Project Interest Amount
- E. Cash Balance
Answer: A,B,E
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. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 32
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.)
- A. Debit-AP Liability Credit-Cash Account
- B. Debit Cash Clearing Account Credit-Cash Account
- C. Debit -AP Liability Credit-Cash Clearing Account
- D. Debit-Expense Credit-Cash Account
Answer: B
Explanation:
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
NEW QUESTION # 33
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. Close Monitor
- B. Calculation Manager
- C. BI Publisher
- D. Account Group
Answer: B
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. Reference: Oracle Financials Business Process Foundations Associate Rel 2
NEW QUESTION # 34
Once a manager arrives on the compensation landing page, what controls the number of plans that the manager has access to allocate compensation?
- A. Based on whether the manager is eligible for the plan
- B. Based on the plans that the Line Manager has employees eligible for
- C. All active plans for the current year
- D. Based on a Compensation Manager granting a Line Manager access to the plans
Answer: D
Explanation:
The factor that controls the number of plans that the manager has access to allocate compensation is based on a Compensation Manager granting a Line Manager access to the plans, which is a process that involves assigning plan access roles to managers who are responsible for allocating compensation to their direct or indirect reports. Plan access roles define which plans a manager can access, which workers they can allocate compensation to, and what actions they can perform on the plans. All active plans for the current year, based on the plans that the Line Manager has employees eligible for, and based on whether the manager is eligible for the plan are not factors that control the number of plans that the manager has access to allocate compensation, but rather factors that may influence or limit the manager's choices or actions on the plans. Reference: [Oracle Compensation Cloud User Guide], [Oracle Compensation Cloud User Guide]
NEW QUESTION # 35
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