Oracle Exam 1z0-1107-2 Topic 1 Question 27 Discussion

Actual exam question for Oracle's 1z0-1107-2 exam

Question #: 27
Topic #: 1

Which four statements are true about creating assets from Payable Invoice lines by using the Create Mass Additions process? (Choose four.)

APayable Invoice must be validated and accounted.

BInvoice Lines must be charged to a Revenue Account.

CInvoice Lines must be charged to an Asset Account.

DThe 'Track as Asset' check box must be selected for the invoice distribution lines.

EPayable Invoice must be transferred to General Ledger.

Show Suggested Answer

Suggested Answer: A, C, D, E

These are four true statements about creating assets from Payable Invoice lines by using the Create Mass Additions process. The Create Mass Additions process is a process that enables you to create assets from invoice lines in Oracle Payables and import them into Oracle Assets.To use this process, the following conditions must be met1:

The Payable Invoice must be validated and accounted, which means that the invoice has passed the validation rules and has been assigned accounting entries.

The Invoice Lines must be charged to an Asset Account, which is an account that is mapped to an asset category in Oracle Assets.

The ''Track as Asset'' check box must be selected for the invoice distribution lines, which indicates that the invoice lines are eligible for asset creation.

The Payable Invoice must be transferred to General Ledger, which means that the accounting entries for the invoice have been posted to the ledger and are available for reporting.Reference:Oracle Financials Business Process Certified Foundations Associate Rel 1

by Clay at Aug 24, 2024, 01:28 PM

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Lelia

2 months ago

I'm going with C, D, and E. Charging to a revenue account? That's about as useful as a chocolate teapot. Let's stick to the basics here, folks.

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Lili

2 months ago

A, C, D, and E are the correct options. Charging to a revenue account? That's like trying to pay your rent with monopoly money. Good luck with that!

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Artie

1 months ago

E) Payable Invoice must be transferred to General Ledger.

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Karan

1 months ago

D) The 'Track as Asset' check box must be selected for the invoice distribution lines.

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Maurine

2 months ago

C) Invoice Lines must be charged to an Asset Account.

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Ariel

2 months ago

E) Payable Invoice must be transferred to General Ledger.

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Rocco

2 months ago

D) The 'Track as Asset' check box must be selected for the invoice distribution lines.

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Bette

2 months ago

A) Payable Invoice must be validated and accounted.

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Annita

2 months ago

C) Invoice Lines must be charged to an Asset Account.

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Staci

2 months ago

A) Payable Invoice must be validated and accounted.

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Terina

3 months ago

Hmm, I think the answer is C, D, and E. Charging to a revenue account? That's like trying to build a house with banana peels - it just doesn't work.

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Rochell

2 months ago

E) Payable Invoice must be transferred to General Ledger.

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Theron

2 months ago

D) The 'Track as Asset' check box must be selected for the invoice distribution lines.

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Adelaide

2 months ago

C) Invoice Lines must be charged to an Asset Account.

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Avery

2 months ago

A) Payable Invoice must be validated and accounted.

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Pok

3 months ago

I think statement E is also true because the Payable Invoice must be transferred to General Ledger.

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Shannan

3 months ago

I agree with that. I also think statement D is true because the 'Track as Asset' check box must be selected for the invoice distribution lines.

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In

3 months ago

I believe statement C is true as well because the Invoice Lines must be charged to an Asset Account.

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Nobuko

3 months ago

Definitely C, D, and E. The 'Track as Asset' checkbox is crucial for this process. Charging to a revenue account? What is this, some kind of accounting voodoo?

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Malcolm

2 months ago

Actually, A is also true. The Payable Invoice must be validated and accounted before creating assets.

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Mi

3 months ago

User 2

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Alaine

3 months ago

Yes, C, D, and E are correct. The 'Track as Asset' checkbox is important for asset creation.

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Sean

3 months ago

User 1

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Ammie

3 months ago

I think statement A is true because the Payable Invoice needs to be validated and accounted.

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Victor

4 months ago

C, D, and E seem to be the correct choices. I'm not sure why we would need to charge the invoice lines to a revenue account - that doesn't make sense for creating assets.

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