Ultimate Guide to Prepare 1z0-1107-2 Certification Exam for Oracle Foundation in 2024
Use Real 1z0-1107-2 Dumps - Oracle Correct Answers updated on 2024
NEW QUESTION # 15
What are the reasons for difference in Subledger and General Ledger reconciliation? (Choose two)
- A. Subledger Journal entry not posted in General Ledger Cloud
- B. The Subledger period is not closed yet
- C. Create accounting not run
- D. Transaction not created in the Subledger
Answer: A,C
Explanation:
The reasons for difference in Subledger and General Ledger reconciliation are subledger journal entry not posted in General Ledger Cloud and create accounting not run. Subledger journal entry not posted in General Ledger Cloud is a reason for difference in Subledger and General Ledger reconciliation because it means that the subledger transactions have been accounted for but not transferred to the general ledger, resulting in a mismatch between the subledger balances and the general ledger balances. Create accounting not run is a reason for difference in Subledger and General Ledger reconciliation because it means that the subledger transactions have not been accounted for and therefore not reflected in the subledger balances or the general ledger balances. Transaction not created in the Subledger and the Subledger period is not closed yet are not reasons for difference in Subledger and General Ledger reconciliation, but rather conditions that may prevent the subledger transactions from being accounted for or transferred to the general ledger. Reference: Oracle Fusion Accounting Hub Cloud User Guide, [Oracle Fusion Accounting Hub Cloud User Guide]
NEW QUESTION # 16
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. Budget to Report
- B. Procure to Pay
- C. Invoice to Cash
- D. Asset to Retirement
Answer: B
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. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 17
Which three Cash Management infolets do you find in the Analytics section of the home page? (Choose three.)
- A. Cash Balance
- B. External Transactions
- C. Unreconciled
- D. Project Interest Amount
- E. Missing Statements
Answer: A,C,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 # 18
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. Account Group
- C. Calculation Manager
- D. BI Publisher
Answer: C
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 # 19
Ganesh is trying to import a journal from an external system and he has encountered an error. Which are three reasons for the error? (Choose three.)
- A. Accounting Date is in a Closed Period.
- B. Accounting Period is Closed.
- C. Journal Source for the external system has not been defined.
- D. Accounting Date is in a Future Period.
- E. Accounting Date is in an Open Period.
Answer: A,B,D
Explanation:
These are three possible reasons for the error when importing a journal from an external system. If the accounting period or the accounting date is closed, you cannot import journals for that period or date. If the accounting date is in a future period, you cannot import journals until the period is opened4. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 20
Which of the following types of predefined standard reports cannot be used to reconcile account balances?
- A. Subledger to General Ledger Reconciliation report
- B. Account Analysis report
- C. Trial Balance report
- D. Billing History report
Answer: D
Explanation:
The Billing History report is not a standard report that can be used to reconcile account balances. It is a report that shows the billing history of a customer or a project. The other three reports are standard reports that can be used to reconcile account balances between subledgers and general ledger. Reference: Oracle Financials Business Process Foundations Associate Rel 2, page 9-10.
NEW QUESTION # 21
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 Invoice to Receipt
- B. Bank Transaction to Position
- C. Customer Statement to Collection
- D. Customer Contract to Revenue
Answer: C
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 # 22
Company XYZ has found it to be efficient for an employee's profile to contain all relevant information from talent to non-talent content items. An employee would like to update their Talent Profile in the areas of their skills, qualifications, competencies, and accomplishments. Where would an employee go to make those updates within their employee talent profile?
- A. Healthcare coverage
- B. Career Preferences
- C. Compensation
- D. Degrees
Answer: B
Explanation:
An employee would go to Career Preferences to make updates to their Talent Profile in the areas of their skills, qualifications, competencies, and accomplishments. Career Preferences is a section within the Talent Profile that allows employees to specify their career goals, interests, mobility preferences, and readiness for new opportunities. It also enables employees to showcase their skills, qualifications, competencies, and accomplishments that are relevant for their current or desired roles. Reference: Oracle Financials Business Process Foundations Associate Rel 2, page 19-20.
NEW QUESTION # 23
The employee's career development is crucial to your organization as it's a way to retain your topperforming employees at your company. You would like for the Manager and employee to be in communication on this topic on a quarterly basis and be aware of what open roles within the company their direct reports would be a strong fit for. In order to put actions into conversations when it comes to the development of an employee, what employee information do Managers have access to?
- A. The employee's career preference statement
- B. Goals
- C. Roles of interest
- D. Performance evaluation
Answer: C
Explanation:
The employee information that managers have access to when it comes to the development of an employee is roles of interest, which are the roles that the employee has expressed interest in pursuing as part of their career aspirations. Managers can view the roles of interest for each of their direct reports from the Career Planning page, where they can also see the fit score and gap analysis for each role based on the employee's skills and qualifications. Managers can use this information to guide their employees in finding suitable learning opportunities and career paths within the organization. Goals, performance evaluation, and the employee's career preference statement are not employee information that managers have access to when it comes to the development of an employee, but rather information that managers can use for other purposes such as performance management or goal management. Reference: Oracle Career Development Cloud User Guide, Oracle Career Development Cloud User Guide
NEW QUESTION # 24
Which process involves the comparison of planned versus actual figures by designing re-ports with the help of state-of-the-art reporting tools? (Choose the best Answer.)
- A. Accounting Transformation
- B. Procure to Pay
- C. Invoice to Cash
- D. Budget to Report
Answer: D
Explanation:
Budget to Report is the process that involves the comparison of planned versus actual figures by designing reports with the help of state-of-the-art reporting tools. It covers the steps from creating and managing budgets, forecasting and planning, consolidating and closing financial periods, and generating and analyzing financial reports1. Reference: Oracle Financials Business Process Foundations Associate Rel 2
NEW QUESTION # 25
Which four statements are true about an effective subledger period close? (Choose four.)
- A. Projects must be closed before Fixed Assets.
- B. Payable must be closed before Projects.
- C. Fixed Assets must be closed before Payables.
- D. Payable must be closed before closing Fixed Assets.
- E. Fixed Assets must be closed before Receivables.
Answer: A,B,C,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 # 26
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
Answer: B
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. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 27
Your organization is exploring solutions that enable their employees to submit expenses by using opt such as SMS or Microsoft Teams. Which technology will help your organization achieve this
- A. IOT
- B. Adaptive Intelligence
- C. Digital Assistant
- D. Blockchain
Answer: C
Explanation:
The technology that will help your organization achieve the goal of enabling their employees to submit expenses by using options such as SMS or Microsoft Teams is digital assistant, which is a platform that allows users to interact with various applications and services through natural language conversations. Digital assistant can be integrated with different channels such as SMS, Microsoft Teams, Slack, Facebook Messenger, etc., and can provide users with a conversational interface to perform tasks such as creating and submitting expense reports, attaching receipts, reviewing and approving expenses, etc. Adaptive intelligence, IOT, and blockchain are not technologies that will help your organization achieve the goal of enabling their employees to submit expenses by using options such as SMS or Microsoft Teams, but rather technologies that have different purposes and functionalities. Adaptive intelligence is a technology that uses machine learning and artificial intelligence to provide insights and recommendations based on data analysis. IOT is a technology that connects physical devices and sensors to the internet and enables data collection and exchange. Blockchain is a technology that creates a distributed ledger of transactions that is secure and immutable. Reference: Oracle Digital Assistant User Guide, Oracle Expenses Cloud User Guide
NEW QUESTION # 28
The Director of Sales and the Director of Learning Enablement have a meeting to discuss future training needs for the direct reports of the Director of Sales. They notice a desire in this team to have more leadership training. The Director of Learning decides that a learning community on Leadership would be beneficial for the team. What type of learning community does the Director of Learning create to enable this?
- A. My Learning
- B. Catalog
- C. Leadership Skills
- D. Self-Service
Answer: C
Explanation:
The type of learning community that the Director of Learning creates to enable leadership training for the team is leadership skills, which is one of the predefined types of learning communities that are available in Oracle Learning Cloud. Leadership skills learning communities are designed to help workers develop their leadership potential and competencies by providing access to relevant learning content and activities, as well as connecting them with mentors and peers who can guide and support them. Self-service, catalog, and my learning are not types of learning communities, but rather features or pages in Oracle Learning Cloud. Self-service allows workers to create their own learning communities or join existing ones. Catalog allows workers to browse and enroll in learning offerings such as courses, programs, or certifications. My learning allows workers to view and manage their learning progress and achievements. Reference: [Oracle Learning Cloud User Guide], [Oracle Learning Cloud User Guide], [Oracle Learning Cloud User Guide], Oracle Learning Cloud User Guide
NEW QUESTION # 29
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. Payable Invoice must be transferred to General Ledger.
- D. Invoice Lines must be charged to an Asset Account.
- E. The "Track as Asset" check box must be selected for the invoice distribution lines.
Answer: A,C,D,E
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. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 30
Which transaction types are used to generate late charges? (Choose three) Adjustments against the original transaction Interest Invoice Debit Memo Credit Memo Chargebacks
- A. Debit Memo
- B. Interest Invoice
- C. Chargebacks
- D. Adjustments against the original transaction
- E. Credit Memo
Answer: A,B,D
Explanation:
The transaction types that are used to generate late charges are adjustments against the original transaction, interest invoice, and debit memo. Adjustments against the original transaction are transactions that modify the amount or terms of the original invoice or other transaction that caused the late charges. Interest invoice is a transaction that creates a new invoice for the interest amount calculated on the overdue balance. Debit memo is a transaction that creates a new invoice for the late charge amount calculated on the overdue balance. Credit memo and chargebacks are not transaction types that are used to generate late charges, but rather transaction types that are used to reduce or cancel the original invoice or other transaction. Reference: Oracle Receivables Cloud User Guide, Oracle Receivables Cloud User Guide, Oracle Receivables Cloud User Guide, Oracle Receivables Cloud User Guide
NEW QUESTION # 31
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. bank charges
- C. bank interest
- D. late charges on delayed customer payments
Answer: B,C
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 # 32
Which part of Work Life does Mentorship fall under?
- A. Social Reputation
- B. Wellness
- C. Volunteering -
- D. Personal Brand
Answer: D
Explanation:
Mentorship falls under the personal brand part of work life, which is a feature that helps workers build their reputation and visibility within the organization by showcasing their skills, interests, achievements, and goals. Mentorship allows workers to find mentors who can guide them in their career development, as well as offer their own expertise as mentors to others. Wellness, social reputation, and volunteering are other parts of work life, but they are not related to mentorship. Wellness helps workers manage their physical and mental well-being by providing access to wellness resources and programs. Social reputation helps workers increase their social influence by displaying their social network activity and ratings. Volunteering helps workers find and participate in volunteering opportunities that match their interests and skills. Reference: [Oracle Work Life Solutions Cloud User Guide], [Oracle Work Life Solutions Cloud User Guide], [Oracle Work Life Solutions Cloud User Guide], [Oracle Work Life Solutions Cloud User Guide], Oracle Work Life Solutions Cloud User Guide
NEW QUESTION # 33
Which two statements are true about creating case folders within the Customer Statement to Collections business process? (Choose two.)
- A. Billing transactions can belong to multiple case folders.
- B. Billing transactions can be of multiple currencies.
- C. Billing transactions must be of the same currency.
- D. Billing transactions must belong to the same bill-to customer.
Answer: A,B
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 # 34
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