Oracle Exam 1Z0-1160-1 Topic 2 Question 7 Discussion

Actual exam question for Oracle's 1Z0-1160-1 exam

Question #: 7
Topic #: 2

[All 1Z0-1160-1 Questions]

What is the primary purpose of Oracle Fusion Cloud ERP's Lease Accounting module?

ATo manage supplier contracts

BTo track and report lease-related financial data

CTo automate customer collections

DTo reconcile bank statements

Show Suggested Answer

Suggested Answer: B

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.

by Rex at Apr 08, 2025, 03:08 PM

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Tegan

2 days ago

I'm pretty sure it's B. Lease Accounting is all about keeping track of those pesky leases and their financial data. Oracle knows what's up!

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Lore

12 days ago

I think the primary purpose is to track and report lease-related financial data.

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