Oracle Exam 1Z0-1160-1 Topic 2 Question 7 Discussion

Actual exam question for Oracle's 1Z0-1160-1 exam

Question #: 7
Topic #: 2

[All 1Z0-1160-1 Questions]

What is the primary purpose of Oracle Fusion Cloud ERP's Lease Accounting module?

ATo manage supplier contracts

BTo track and report lease-related financial data

CTo automate customer collections

DTo reconcile bank statements

Show Suggested Answer

Suggested Answer: B

Comprehensive and Detailed

The Lease Accounting module's purpose is:

* To track and report lease-related financial data (B): Ensures compliance with lease standards (e.g., IFRS 16, ASC 842) by tracking and reporting lease liabilities and assets.

* Manage supplier contracts (A): Handled by Procurement.

* Automate customer collections (C): Part of Collections.

* Reconcile bank statements (D): Managed by Cash Management.

This ensures compliance, as per the training.

by Rex at Apr 08, 2025, 03:08 PM

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Valentin

1 months ago

B is the way to go, my dudes. Lease Accounting is all about making sure those lease numbers are on point. Oracle's got your back on that one, for sure.

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Micah

2 months ago

Hold up, did someone say 'lease'? That reminds me of the time I leased a car and ended up paying more in late fees than the actual lease itself. Good times, good times.

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Matthew

14 days ago

I wish I had something like that when I leased my car. Would have saved me a lot of trouble.

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Shanice

17 days ago

Yeah, that's right. It helps in managing lease agreements and ensuring accurate financial reporting.

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German

18 days ago

I think the primary purpose of Oracle Fusion Cloud ERP's Lease Accounting module is to track and report lease-related financial data.

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Georgeanna

2 months ago

I believe it also helps in ensuring compliance with lease accounting standards and regulations.

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Jolanda

2 months ago

I agree with Lore. It helps in managing lease agreements and financial information.

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Teddy

2 months ago

Hmm, I'm going to have to go with option B here. Tracking and reporting lease-related financial data sounds like the primary purpose to me. Can't go wrong with that one!

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