Curious about Actual Oracle Foundation Certifications (1z0-1107-2) Exam Questions?

Correct : C

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.Reference:Oracle Financials Business Process Certified Foundations Associate Rel 1

Correct : B, D, E

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.Reference:Oracle Financials Business Process Certified Foundations Associate Rel 1

Correct : C, D, E

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

Correct : A, C, D, E

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

Correct : B

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