Name: Oracle 1z0-1107-2 Exam
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Free Oracle 1z0-1107-2 Exam Actual Questions

Note: Premium Questions for 1z0-1107-2 were last updated On May. 10, 2024 (see below)

Question #1

Which two statements are true about creating case folders within the Customer Statement to Collections business process? (Choose two.)

ABilling transactions must belong to the same bill-to customer.

BBilling transactions must be of the same currency.

CBilling transactions can belong to multiple case folders.

DBilling transactions can be of multiple currencies.

Reveal Solution

Correct Answer: C, D

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

Question #2

Glenn Systems has decided to enable the Additional Duplicate Invoice Check feature. Which three additional attributes are considered for duplicate invoice check when this feature is enabled? (Choose three.)

ASupplier Tax Registration Number

BInvoice Amount

CInvoice Date

DInvoice Type

ESupplier Location

Reveal Solution

Correct Answer: B, C, D

These are three additional attributes that are considered for duplicate invoice check when the Additional Duplicate Invoice Check feature is enabled. The Additional Duplicate Invoice Check feature is a feature that enables you to perform a more comprehensive check for duplicate invoices in Oracle Payables.The feature compares the invoice number, supplier name, supplier site, invoice amount, invoice date, and invoice type of the invoices and flags any potential duplicates1.Reference:Oracle Financials Business Process Certified Foundations Associate Rel 1

Question #3

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.)

ATransaction Grouping Rules

BTolerance Rules

CMatching Rules

DParse Rule Set

ETransfer Rules

Reveal Solution

Correct Answer: A, B, C

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

Question #4

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.)

ASpreadsheet

BLockbox

CAutomatic Receipts

DToolbox

Reveal Solution

Correct Answer: 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

Question #5

One of the internal auditors in your organization is reviewing subledger journals and want more details about the rules that were used to generate these journals. What would you use to review these rules? (Choose the best Answer.)

AAccount Monitor

Bthe Account Override page

Cthe Analyze Journal Entry page

Dthe Create Journals page

Reveal Solution

Correct Answer: 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

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