UPDATED [May 10, 2024] Pass Oracle Financials Business Process Foundations Associate Rel 2 Exam with Latest Questions
1z0-1107-2 Exam Practice Questions prepared by Oracle Professionals
NEW QUESTION # 19
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. Blockchain
- B. IOT
- C. Digital Assistant
- D. Adaptive Intelligence
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 # 20
You want the ability for employees to have complete autonomy toward their own goals. Given you want employees to be able to perform many actions when it comes to their goals, what are the main actions employees can perform when their Manager assigns them a goal?
- A. Share goals with colleagues
- B. Create new career goals
- C. Communicate the progress of their goal for the Manager to update
- D. Manage and update goals
Answer: D
Explanation:
Employees can manage and update their goals from the My Goals page, where they can edit, delete, or complete their goals, as well as add new goals or subgoals. They can also communicate the progress of their goals to their managers by updating the status, completion percentage, and comments fields. Creating new career goals is not an action that employees can perform when their manager assigns them a goal, but rather a separate process that involves using the Career Development page. Sharing goals with colleagues is not an action that employees can perform from the My Goals page, but rather a feature that requires enabling the Goal Sharing profile option. Reference: [Oracle Goal Management Cloud User Guide], [Oracle Career Development Cloud User Guide], [Oracle Goal Management Cloud Implementation Guide]
NEW QUESTION # 21
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 # 22
Which three Cash Management infolets do you find in the Analytics section of the home page? (Choose three.)
- A. Unreconciled
- B. External Transactions
- C. Project Interest Amount
- D. Cash Balance
- E. Missing Statements
Answer: A,D,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 # 23
Ganesh works for Glenn Systems as a General Accountant and he has a requirement to create periodic allocations at the end of the month to distribute welfare expenses. The allocations will be based on headcounts in each department. In which currency should the journal entry be created to load the headcounts? (Choose the best Answer.)
- A. Ledger Currency
- B. Foreign Currency
- C. Reporting Currency
- D. Statistical Currency
Answer: D
Explanation:
Statistical Currency is the currency that you should use to create the journal entry to load the headcounts. Statistical Currency is a special currency that is used to record non-monetary values, such as headcounts, units, or hours. You can use Statistical Currency to create allocation journals based on non-monetary bases or drivers1. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 24
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. Promise to Pay
- B. Percent Current
- C. Collector Effective Index
- D. Days Sales Outstanding
- 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 # 25
Which of the following help organizations in estimating bank account balances daily and over a period of time? (Choose two)
- A. Reconciliation
- B. Cash Forecasting
- C. Bank Account Transfer
- D. Cash Positioning
Answer: B,D
Explanation:
The two processes that help organizations in estimating bank account balances daily and over a period of time are cash positioning and cash forecasting. Cash positioning is a process that involves calculating the current cash position of each bank account by adding or subtracting the cleared and uncleared transactions from the opening balance. Cash forecasting is a process that involves projecting the future cash position of each bank account by adding or subtracting the expected inflows and outflows from the current balance. Reconciliation and bank account transfer are not processes that help organizations in estimating bank account balances daily and over a period of time, but rather processes that have different purposes and functionalities. Reconciliation is a process that involves matching the transactions recorded in the bank statement with the transactions recorded in the general ledger. Bank account transfer is a process that involves transferring funds between bank accounts within or across legal entities. Reference: Oracle Cash Management Cloud User Guide, Oracle Cash Management Cloud User Guide, Oracle Cash Management Cloud User Guide, Oracle Cash Management Cloud User Guide
NEW QUESTION # 26
Which two statements are true about running the financial statements that are designed using Financial Reporting Web Studio? (Choose two.)
- A. Financial statements can be generated only in HTML format.
- B. Financial statements can be generated using different hierarchies to represent the data from different perspectives.
- C. Financial statements are generated using the data directly from the transactional tables.
- D. Business users can easily slice and dice the data across dimensions, and drill up, down, and sideways at any parent level.
Answer: B,D
Explanation:
These are two true statements about running the financial statements that are designed using Financial Reporting Web Studio. Financial Reporting Web Studio is a tool that enables users to create and manage financial reports using data from various sources, such as General Ledger or Essbase Cubes. Users can generate financial statements using different hierarchies to represent the data from different perspectives, such as legal entity, business unit, segment, or account. Users can also easily slice and dice the data across dimensions, and drill up, down, and sideways at any parent level to analyze the details behind the numbers2. Reference: Oracle Financials Business Process Foundations Associate Rel 2
NEW QUESTION # 27
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. Mass Upload Employees
- D. Convert Pending Worker
- E. Employee Self Register
Answer: A,B,C
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 # 28
Which three can be captured on an Invoice Header while recording a supplier invoice in the Payables application? (Choose three.)
- A. invoice amount
- B. distribution combination
- C. supplier details
- D. invoice number
- E. integration details with other applications
Answer: A,C,D
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 # 29
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. Journal Source for the external system has not been defined.
- B. Accounting Date is in a Future Period.
- C. Accounting Period is Closed.
- D. Accounting Date is in an Open Period.
- E. Accounting Date is in a Closed Period.
Answer: B,C,E
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 # 30
Your organization wants the capability for employees to copy information into their current time card. What options do they have for copying a time card?
- A. Copy other time card
- B. Copy same period from last month
- C. Copy previous time card
- D. Copy same period from previous year
Answer: A
Explanation:
The option that employees have for copying a time card is copy other time card, which allows them to copy time entries from another time card that they have access to. Employees can use this option to copy time entries from their own previous time cards or from other workers' time cards if they have been granted the appropriate privileges. Copy same period from last month, copy same period from previous year, and copy previous time card are not options that employees have for copying a time card, but rather features that may be available in other systems or applications. Reference: Oracle Time and Labor Cloud User Guide
NEW QUESTION # 31
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. Skills
- B. Communication Style
- 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 # 32
Which two statements are true about Oracle Expenses Cloud integration with travel partners? (Choose two.)
- A. Oracle Expenses Cloud supports direct integration only with GetThere.
- B. Oracle Expenses Cloud supports direct integration only with Concur.
- C. Oracle Expenses Cloud supports direct integration only with TripActions.
- D. Oracle Expenses Cloud supports integration with other partners through Rest APIs.
Answer: C,D
Explanation:
These are two true statements about Oracle Expenses Cloud integration with travel partners. Oracle Expenses Cloud supports direct integration only with TripActions, which is a travel management platform that offers personalized travel options, rewards, and insights. TripActions users can seamlessly sync their travel bookings and receipts with Oracle Expenses Cloud for faster expense reporting3. Oracle Expenses Cloud also supports integration with other partners through Rest APIs, which are web services that allow communication between different systems using standard protocols. Rest APIs enable Oracle Expenses Cloud to exchange data with other travel partners or third-party applications4. Reference: Oracle Financials Business Process Foundations Associate Rel 2, Oracle Expenses Cloud REST API Reference
NEW QUESTION # 33
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-Expense Credit-Cash Account
- C. Debit Cash Clearing Account Credit-Cash Account
- D. Debit -AP Liability Credit-Cash Clearing Account
Answer: C
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 # 34
Which step is not part of the dispute management process?
- A. Receiving dispute cases
- B. Initiating refund
- C. Credit memo creation and approval
- D. Receipt application
Answer: D
Explanation:
The step that is not part of the dispute management process is receipt application, which is a process that involves applying customer payments to invoices or other transactions. Receipt application is not part of the dispute management process, but rather part of the Invoice to Cash process, which involves billing customers and collecting payments for goods or services. Initiating refund, receiving dispute cases, and credit memo creation and approval are steps that are part of the dispute management process, which is a process that involves resolving customer disputes over invoices or other transactions. Initiating refund is a step that involves issuing a refund to the customer for the disputed amount. Receiving dispute cases is a step that involves creating and tracking dispute cases for each customer dispute. Credit memo creation and approval is a step that involves creating and approving credit memos for the disputed transactions. Reference: Oracle Receivables Cloud User Guide, Oracle Receivables Cloud User Guide, Oracle Receivables Cloud User Guide, Oracle Receivables Cloud User Guide
NEW QUESTION # 35
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 # 36
What terminology is used within Oracle HCM Cloud to describe the phases and states that a candidate goes through within the hiring process?
- A. Candidate Hiring Workflow
- B. Candidate Hiring Process
- C. Candidate Selection Workflow
- D. Candidate Selection Process
Answer: A
Explanation:
The terminology used within Oracle HCM Cloud to describe the phases and states that a candidate goes through within the hiring process is candidate hiring workflow, which is a configurable set of steps that define how candidates are moved from one stage to another until they are hired or rejected. The candidate hiring workflow consists of four phases: sourcing, screening, selection, and offer, and each phase has one or more states that represent the status of the candidate in that phase. Candidate selection workflow, candidate selection process, and candidate hiring process are not terminology used within Oracle HCM Cloud to describe the phases and states that a candidate goes through within the hiring process, but rather generic terms that do not reflect the specific configuration and functionality of the system. Reference: [Oracle Recruiting Cloud User Guide], [Oracle Recruiting Cloud User Guide]
NEW QUESTION # 37
Which three attributes can be used as selection criteria when submitting a payment process request? (Choose three.)
- A. Invoice Type
- B. Pay Groups
- C. Pay Through Date
- D. Payment Terms
- E. Supplier Type
Answer: A,B,C
Explanation:
These are three attributes that can be used as selection criteria when submitting a payment process request. A payment process request is a request to pay one or more invoices or other payments within a single payment batch. You can use various attributes to filter and select the invoices or payments that you want to include in the payment process request2. Some of these attributes are:
Invoice Type: This attribute allows you to select invoices based on their type, such as standard, credit memo, debit memo, prepayment, or interest.
Pay Through Date: This attribute allows you to select invoices based on their due date or discount date. Only invoices that are due or eligible for discount on or before the pay through date are selected.
Pay Groups: This attribute allows you to select invoices based on their pay group, which is a grouping of invoices that share common payment attributes, such as payment method, payment priority, or payment terms. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 38
Your organization has decided to apply late charges against overdue customer transactions as well as delayed payments. Your manager has requested you to evaluate the various methods that can be used to calculate late charges. Which three are valid options for calculating late charges? (Choose three.)
- A. Overdue Transactions and Late Payments
- B. Late Payments Only
- C. Overdue Transactions Only
- D. Average Quarterly Balance
- E. Fortnightly Balance
Answer: A,B,C
Explanation:
These are three valid options for calculating late charges for overdue customer transactions and delayed payments. Late charges are fees that are applied to customers who fail to pay their invoices on time or make partial payments. You can calculate late charges based on various methods, such as overdue transactions only, late payments only, overdue transactions and late payments, or balance forward billing1. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 39
John works as a Cash Manager in Glenn Systems and he wants to create the Cash Positioning report by using the predefined system transactions as sources. Identify three predefined sources that John can choose to create this report.? (Choose three.)
- A. Purchase Orders
- B. AP Payments
- C. AR Invoices
- D. Purchase Requisitions
- E. AP Invoices
Answer: B,C,E
Explanation:
These are three predefined sources that you can choose to create the Cash Positioning report by using the system transactions. The Cash Positioning report is a report that shows your cash inflows and outflows for a given period and bank account. You can use various sources to populate the report with system transactions, such as AR Invoices, AP Invoices, AP Payments, AR Receipts, GL Journals, or Cash Forecasting1. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1
NEW QUESTION # 40
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 # 41
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. Cash Manager
- B. General Accounting Manager
- C. Financial Analyst
- D. General Accountant
Answer: C
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 # 42
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 a Compensation Manager granting a Line Manager access to the plans
- C. All active plans for the current year
- D. Based on the plans that the Line Manager has employees eligible for
Answer: B
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 # 43
Which report is used to monitor absence trends and analyses?
- A. Leave Time & Balances Report
- B. Absence Trends Report
- C. Employee Absence Analyses
- D. Absence Monitoring Report
Answer: B
Explanation:
The Absence Trends Report is used to monitor absence trends and analyses by showing various absence metrics such as absence hours, absence days, absence frequency, absence rate, and absence cost for different groups of workers and absence types over a period of time. The Leave Time & Balances Report is used to view the current and projected leave balances for workers enrolled in leave plans. The Absence Monitoring Report is used to track the absences that exceed a specified duration or frequency threshold for workers enrolled in absence plans. The Employee Absence Analyses is not a report, but a subject area that can be used to create custom analyses and dashboards for absence data. Reference: [Oracle Transactional Business Intelligence Enterprise for HCM User Guide], [Oracle Global Human Resources Cloud User Guide], [Oracle Absence Management Cloud User Guide], [Oracle Transactional Business Intelligence Enterprise for HCM User Guide]
NEW QUESTION # 44
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