Oracle Exam 1z0-1107-2 Topic 5 Question 33 Discussion

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

Question #: 33
Topic #: 5

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.)

AStatistical Currency

BReporting Currency

CForeign Currency

DLedger Currency

Show Suggested Answer

Suggested Answer: A

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

by Marion at Sep 13, 2024, 02:54 AM

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Ettie

2 months ago

Wait, wait, wait. What's this 'Statistical Currency' option? Is that like using Monopoly money for the journal entry? *laughs* Sorry, I couldn't resist.

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Beata

26 days ago

Mozell: Yes, that's correct. It will help in accurately distributing welfare expenses based on headcounts.

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Mozell

30 days ago

User 2: Oh, I see. So, Ganesh should create the journal entry in Statistical Currency then?

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Desmond

1 months ago

Haha, I get what you mean! But 'Statistical Currency' is actually used to track non-monetary data like headcounts.

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Edwin

2 months ago

Hold on, I'm not so sure. What if the allocations need to be reported in a different currency? Wouldn't that be the Reporting Currency? This is a tricky one.

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Eleonora

2 months ago

I'm leaning towards Foreign Currency. Isn't that the currency used for transactions with other countries? Maybe that's the best fit for this scenario.

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Youlanda

2 months ago

Hmm, this seems straightforward. The journal entry should be in the Ledger Currency, right? After all, that's the currency used for the company's financial records.

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