Oracle 1Z0-1160-1 Exam Questions

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.

Comprehensive and Detailed

A Starter Configuration in Oracle Fusion Cloud Applications is a prebuilt environment designed to accelerate implementation by providing foundational elements. The three features included are:

* Artificial Intelligence capabilities (A): Embedded AI features, such as predictive analytics and automation, are part of the Starter Configuration to enhance efficiency and decision-making from the outset.

* Sample master data and transaction data (B): Preloaded sample data simulates real-world scenarios, enabling users to test processes and functionalities without needing live customer data initially.

* Configuration of Oracle Cloud Applications (D): Preconfigured setups aligned with best practices ensure that core Oracle Cloud Applications are ready for use or minor adjustments.

* Customer production data (C): This is not included, as Starter Configurations focus on generic setups rather than live, customer-specific data.

* Customization of standard features (E): While customization is possible post-implementation, it is not a default feature of the Starter Configuration, which prioritizes standard configurations.

These elements support a rapid, solution-led deployment, as detailed in the Oracle ERP Foundations training.

Comprehensive and Detailed

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.

* Custom-built hardware for each customer (E): Incorrect, as multi-tenancy eliminates the need for dedicated hardware per customer.

These components underpin Oracle's cloud-first strategy, as detailed in the ERP Foundations training.

Comprehensive and Detailed

The primary purpose of the General Ledger module is:

* To provide a centralized repository for financial data and reporting (C): It consolidates financial transactions from subledgers (e.g., Payables, Receivables) into a single source for accounting, reporting, and analysis.

* Manage supplier invoices (A): Handled by Payables, not General Ledger.

* Track employee expenses (B): Managed by the Expenses module.

* Automate customer collections (D): Part of Advanced Collections, not General Ledger.

This central role ensures financial accuracy, as per the training.

Comprehensive and Detailed

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.

* Project Management (D): Integrates indirectly via costs, not core Payables functions.

These integrations streamline financial operations, as per the training.