Oracle 1z0-1160-1 Oracle Fusion Cloud Applications ERP Foundations Associate - Rel 1 Exam Practice Test

Comprehensive and Detailed Explanation:

Receivables features include:

Customer invoice generation (A):Creates and manages customer invoices.

Customer collections management (C):Handles payment follow-ups and collections.

Supplier payment processing (B):Part of Payables.

Comprehensive and Detailed Explanation:

The functionality is:

Invoice Matching and Validation (A):Ensures invoices match POs/receipts and are validated before payment.

Payment Holds (B):Prevents payment but is a result, not validation.

Invoice Archiving (C):Stores invoices, not validates them.

Comprehensive and Detailed Explanation:

The Procurement module’s purpose is:

To streamline supplier sourcing, purchasing, and contract management (B):Manages supplier relationships, purchase orders, and contracts efficiently.

Manage customer invoices (A):Handled by Receivables.

Track employee expenses (C):Managed by Expenses.

Comprehensive and Detailed Explanation:

Payables integrates with:

Oracle Fusion Cloud Procurement (B):Provides purchase order data for invoice matching and validation, ensuring seamless procurement-to-payment processes.

Oracle Fusion Cloud Fixed Assets (C):Transfers asset purchase data from Payables for capitalization and lifecycle management.

Receivables (A):Focuses on customer payments, not directly linked to Payables operations.

Comprehensive and Detailed Explanation:

The Security Console’s role is:

To manage user roles and access controls (A):Allows administrators to define, assign, and monitor user roles and permissions, ensuring secure access to ERP functions.

Automate financial reporting (B):Handled by reporting tools, not Security Console.

Track project milestones (C):Part of Project Management, not security.

Comprehensive and Detailed Explanation:

Project Billing capabilities include:

Customer invoice generation (A):Creates invoices based on project work.

Revenue recognition and billing (B):Manages revenue and billing schedules.

Supplier invoice validation (C):Part of Payables.

Comprehensive and Detailed Explanation:

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.

Comprehensive and Detailed Explanation:

A key benefit is:

Provides a structured framework to manage construction in progress costs, enabling efficient cost management and precise financial reporting (C):Tracks costs during asset construction for accurate capitalization and reporting.

Demand forecasting (A):Unrelated to this process.

Comprehensive and Detailed Explanation:

The key capability is:

Real-time policy enforcement (A):Automatically checks expenses against policies, reducing manual verification.

Mileage tracking (B):Calculates mileage but not policy compliance.

Digital receipt matching (C):Matches receipts, not policy enforcement.

Comprehensive and Detailed Explanation:

Oracle Fusion Cloud ERP’s architecture is designed for scalability, security, and integration in a cloud environment. The three key components are:

Multi-tenant cloud infrastructure (B):Enables multiple customers to share the same application instance while keeping data isolated, reducing costs and improving efficiency.

Prebuilt integrations with third-party applications (C):Provides out-of-the-box connectivity with external systems, enhancing interoperability.

Scalable and secure cloud platform (D):Built on Oracle Cloud Infrastructure (OCI), it ensures scalability to handle varying workloads and robust security features.

On-premises database storage (A):Not a component, as Fusion Cloud ERP is fully cloud-based.

Comprehensive and Detailed Explanation:

Financial Reporting tools feature:

Real-time dashboards and analytics (A):Provide instant insights via OTBI.

Customizable financial statements (C):Allow tailored reporting formats.

Automated supplier invoice processing (B):Part of Payables, not reporting.

Comprehensive and Detailed Explanation:

Key considerations are:

Payment behavior and credit risk (D):Focuses on payment history and creditworthiness, critical for scoring.

Customer location and size (A):Secondary factors, not primary.

Number of invoices (B):Impacts volume, not scoring directly.

Comprehensive and Detailed Explanation:

Essential automation options are:

Auto Invoicing (B):Automates invoice creation and posting, ensuring accuracy and speed.

Receipts AutoMatch (C):Matches receipts to invoices automatically, improving timeliness.

Collection Strategies (A):Focuses on delinquency, not invoicing/receipts.

Comprehensive and Detailed Explanation:

The Account Reconciliation feature’s purpose is:

To ensure accurate reconciliation of financial accounts (B):Matches account balances with source data for accuracy.

Automate supplier payments (A):Handled by Payables.

Track employee expenses (C):Managed by Expenses.

Comprehensive and Detailed Explanation:

The Compliant/Non-compliant Test Users metric determines:

Users who have access to key financial transactions, which helps detect high-risk transaction processes (A):Identifies users with sensitive access, aiding risk and compliance management.

Training programs (B):Unrelated to this metric.

User behavior (C):Focuses on usage, not access risks.