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Oracle Financial Cloud Payable (1Z0-1055-21)
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Question 1 of 60
1. Question
When creating a check payment, from where is the payment document defaulted?
Correct
Use the Payment Documents window to define payment documents for an internal bank account. Examples of payment documents are checks or electronic payments. You must create at least one payment document before you can use a bank account to create invoice payments. You can create an unlimited number of payment documents for an internal bank account. When you define payment documents, you can only select payment formats that use the same currency as the bank account currency. If the bank account is a multiple currency bank account, you can choose foreign currency payment formats or multiple currency payment formats.
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Use the Payment Documents window to define payment documents for an internal bank account. Examples of payment documents are checks or electronic payments. You must create at least one payment document before you can use a bank account to create invoice payments. You can create an unlimited number of payment documents for an internal bank account. When you define payment documents, you can only select payment formats that use the same currency as the bank account currency. If the bank account is a multiple currency bank account, you can choose foreign currency payment formats or multiple currency payment formats.
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Use the Payment Documents window to define payment documents for an internal bank account. Examples of payment documents are checks or electronic payments. You must create at least one payment document before you can use a bank account to create invoice payments. You can create an unlimited number of payment documents for an internal bank account. When you define payment documents, you can only select payment formats that use the same currency as the bank account currency. If the bank account is a multiple currency bank account, you can choose foreign currency payment formats or multiple currency payment formats.
Question 2 of 60
2. Question
Before you can configure payment approval rules, your company must define a payment approval policy. Which three are done by the payment approval policy
Correct
Defining a Payment Approval Policy Before you can configure payment approval rules, your company must define a payment approval policy. The payment approval policy defines: When to initiate the payment approval process Criteria for triggering the payment approval process, such as payment amount, bank account, or pay group A list of approvers who review payments and make final payment decisions https://docs.oracle.com/en/cloud/saas/financials/20b/faipp/disbursements.html#FAIPP2127846
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Defining a Payment Approval Policy Before you can configure payment approval rules, your company must define a payment approval policy. The payment approval policy defines: When to initiate the payment approval process Criteria for triggering the payment approval process, such as payment amount, bank account, or pay group A list of approvers who review payments and make final payment decisions https://docs.oracle.com/en/cloud/saas/financials/20b/faipp/disbursements.html#FAIPP2127846
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Defining a Payment Approval Policy Before you can configure payment approval rules, your company must define a payment approval policy. The payment approval policy defines: When to initiate the payment approval process Criteria for triggering the payment approval process, such as payment amount, bank account, or pay group A list of approvers who review payments and make final payment decisions https://docs.oracle.com/en/cloud/saas/financials/20b/faipp/disbursements.html#FAIPP2127846
Question 3 of 60
3. Question
Identify three scenarios where you are not allowed to cancel an invoice.
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Question 4 of 60
4. Question
The Government has introduced a new reduced tax recovery rate for certain services. You need to amend the configuration for your current tax regime to reflect this change. Which three setups will you need to complete? (Choose three.)
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Question 5 of 60
5. Question
You need to route invoices to three different approvers at the same time, and only one approver needs to approve the invoice. Which approval ruleset should you use?
Correct
Each ruleset contains one or more approval rules. Each approval rule has an approval condition and a list of approvers. The list of approvers derived for each ruleset is called a participant. To generate the list of approvers, each rule requires a list builder to be associated with it. https://docs.oracle.com/cd/E25054_01/fusionapps.1111/e20375/F569964AN5910E.htm Invoice Workflow Assigning As First Response Wins Instead Of Serial Approval (Doc ID 2324381.1)
Incorrect
Each ruleset contains one or more approval rules. Each approval rule has an approval condition and a list of approvers. The list of approvers derived for each ruleset is called a participant. To generate the list of approvers, each rule requires a list builder to be associated with it. https://docs.oracle.com/cd/E25054_01/fusionapps.1111/e20375/F569964AN5910E.htm Invoice Workflow Assigning As First Response Wins Instead Of Serial Approval (Doc ID 2324381.1)
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Each ruleset contains one or more approval rules. Each approval rule has an approval condition and a list of approvers. The list of approvers derived for each ruleset is called a participant. To generate the list of approvers, each rule requires a list builder to be associated with it. https://docs.oracle.com/cd/E25054_01/fusionapps.1111/e20375/F569964AN5910E.htm Invoice Workflow Assigning As First Response Wins Instead Of Serial Approval (Doc ID 2324381.1)
Question 6 of 60
6. Question
What is the invoice type of an unapproved, unmatched invoice that was created in Fusion Supplier Portal?
Which three are supported image formats for the Integrated Imaging solution? (Choose three.)
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Question 8 of 60
8. Question
You purchased a computer from Company A for 2000 USD. Company B ships you the computer with freight charges of 100 USD. You would like the cost of the computer to include those freight charges How can you achieve this?d
You entered an invoice of 12,000 and paid it for Office Suppliers. The payment was never received by the supplier, and you decide to return the entire order. What should you do?
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Question 10 of 60
10. Question
You are using the Payables Deferred Expense feature (also known as Multiperiod Accounting). You have entered an invoice for a three-month lease that is entered on Jan 10th. The total expense is $12,000 and it covers the rental period from Jan 1st to Mar 31st. Assuming that the rental expenses are split evenly per month and a monthly accounting calendar is used, what would the accounting entry be?
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Question 11 of 60
11. Question
Which three options are available to filter data when you submit the Prepare Payables to Ledger Reconciliation report? (Choose three. )
Correct
https://docs.oracle.com/en/cloud/saas/financials/20b/fappp/accounts-payable-balances.html#FAPPP1567348 Prepare Payables to General Ledger Reconciliation Run the Prepare Payables to General Ledger Reconciliation process to select data for the Summary section of the Payables to General Ledger Reconciliation Report. The process must run successfully for the most current summary information and before you can run the Payables to General Ledger Reconciliation Report. Prepare Payables to General Ledger Reconciliation Parameters Request Name Enter a descriptive name. Consider a name that indicates the accounting period, date, and time, especially if you‘re planning to run multiple processes. Ledger The ledgers available for selection are based on your assigned security. Business Unit Use this parameter to reconcile by a specific organization. Note: You must explicitly map business units to balancing segment values. If not, you must reconcile by ledger. Don‘t specify a business unit if you implemented centralized payment processing using the service provider model. The output from the process may be incomplete for the purposes of reconciliation. Accounting Period You can select either open or closed accounting periods. Account If you have multiple payables accounts, you can limit the process to specific accounts. The natural account segment values for the accounts must have a Financial Category of Accounts Payable to be included in the reconciliation report. If the Financial Category isn‘t assigned to any natural account values in the chart of accounts, the process fails. Include Intercompany Transactions You can include or exclude intercompany transactions. To reconcile only intercompany transactions, you can restrict the account range to include only intercompany accounts. Include Bills Payable If you select Yes, include the bills payable accounts in the Account parameter if they differ from the accounts payable accounts. You must select Yes if the bills payable liability account is the same as the regular liability account. Note: You may want to exclude bills payable if the bills payable account isn‘t a liability account.
Incorrect
https://docs.oracle.com/en/cloud/saas/financials/20b/fappp/accounts-payable-balances.html#FAPPP1567348 Prepare Payables to General Ledger Reconciliation Run the Prepare Payables to General Ledger Reconciliation process to select data for the Summary section of the Payables to General Ledger Reconciliation Report. The process must run successfully for the most current summary information and before you can run the Payables to General Ledger Reconciliation Report. Prepare Payables to General Ledger Reconciliation Parameters Request Name Enter a descriptive name. Consider a name that indicates the accounting period, date, and time, especially if you‘re planning to run multiple processes. Ledger The ledgers available for selection are based on your assigned security. Business Unit Use this parameter to reconcile by a specific organization. Note: You must explicitly map business units to balancing segment values. If not, you must reconcile by ledger. Don‘t specify a business unit if you implemented centralized payment processing using the service provider model. The output from the process may be incomplete for the purposes of reconciliation. Accounting Period You can select either open or closed accounting periods. Account If you have multiple payables accounts, you can limit the process to specific accounts. The natural account segment values for the accounts must have a Financial Category of Accounts Payable to be included in the reconciliation report. If the Financial Category isn‘t assigned to any natural account values in the chart of accounts, the process fails. Include Intercompany Transactions You can include or exclude intercompany transactions. To reconcile only intercompany transactions, you can restrict the account range to include only intercompany accounts. Include Bills Payable If you select Yes, include the bills payable accounts in the Account parameter if they differ from the accounts payable accounts. You must select Yes if the bills payable liability account is the same as the regular liability account. Note: You may want to exclude bills payable if the bills payable account isn‘t a liability account.
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https://docs.oracle.com/en/cloud/saas/financials/20b/fappp/accounts-payable-balances.html#FAPPP1567348 Prepare Payables to General Ledger Reconciliation Run the Prepare Payables to General Ledger Reconciliation process to select data for the Summary section of the Payables to General Ledger Reconciliation Report. The process must run successfully for the most current summary information and before you can run the Payables to General Ledger Reconciliation Report. Prepare Payables to General Ledger Reconciliation Parameters Request Name Enter a descriptive name. Consider a name that indicates the accounting period, date, and time, especially if you‘re planning to run multiple processes. Ledger The ledgers available for selection are based on your assigned security. Business Unit Use this parameter to reconcile by a specific organization. Note: You must explicitly map business units to balancing segment values. If not, you must reconcile by ledger. Don‘t specify a business unit if you implemented centralized payment processing using the service provider model. The output from the process may be incomplete for the purposes of reconciliation. Accounting Period You can select either open or closed accounting periods. Account If you have multiple payables accounts, you can limit the process to specific accounts. The natural account segment values for the accounts must have a Financial Category of Accounts Payable to be included in the reconciliation report. If the Financial Category isn‘t assigned to any natural account values in the chart of accounts, the process fails. Include Intercompany Transactions You can include or exclude intercompany transactions. To reconcile only intercompany transactions, you can restrict the account range to include only intercompany accounts. Include Bills Payable If you select Yes, include the bills payable accounts in the Account parameter if they differ from the accounts payable accounts. You must select Yes if the bills payable liability account is the same as the regular liability account. Note: You may want to exclude bills payable if the bills payable account isn‘t a liability account.
Question 12 of 60
12. Question
What two job roles are required to access information within Functional Setup Manager? (Choose two.)
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Question 13 of 60
13. Question
Which reporting tool is used to report on real-time data?
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Question 14 of 60
14. Question
Which method can you use to route payment approval rules?
You have two business units: Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?
Correct
Role always assign through “Manage Data Access for User“ https://docs.oracle.com/cd/E29597_01/fusionapps.1111/e20375/F569964AN64F1E.htm Explanation: You can enable expense auditors to audit expense reports for specific business units by assigning them specific expense auditor data roles for the business units. For example, to allow an expense auditor to audit expense reports for the Vision Operations and Vision Services business units, assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles, respectively, to the expense auditor.
Incorrect
Role always assign through “Manage Data Access for User“ https://docs.oracle.com/cd/E29597_01/fusionapps.1111/e20375/F569964AN64F1E.htm Explanation: You can enable expense auditors to audit expense reports for specific business units by assigning them specific expense auditor data roles for the business units. For example, to allow an expense auditor to audit expense reports for the Vision Operations and Vision Services business units, assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles, respectively, to the expense auditor.
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Role always assign through “Manage Data Access for User“ https://docs.oracle.com/cd/E29597_01/fusionapps.1111/e20375/F569964AN64F1E.htm Explanation: You can enable expense auditors to audit expense reports for specific business units by assigning them specific expense auditor data roles for the business units. For example, to allow an expense auditor to audit expense reports for the Vision Operations and Vision Services business units, assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles, respectively, to the expense auditor.
Question 16 of 60
16. Question
A Payment Process Request was submitted. Subsequently, the user realized that there are some errors in the payment file. The payment process was terminated by terminating the payment file. Which three statements are true?
Correct
You can decide to terminate the payment process by terminating the payment file. When you take this action, the application sets the status of the payment file to Terminated and informs the source product of the terminated documents payable. Then, for each payment in the payment file, the application sets the status to Canceled. The source product unlocks the documents and resets their status so that they are available for future selection.
Incorrect
You can decide to terminate the payment process by terminating the payment file. When you take this action, the application sets the status of the payment file to Terminated and informs the source product of the terminated documents payable. Then, for each payment in the payment file, the application sets the status to Canceled. The source product unlocks the documents and resets their status so that they are available for future selection.
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You can decide to terminate the payment process by terminating the payment file. When you take this action, the application sets the status of the payment file to Terminated and informs the source product of the terminated documents payable. Then, for each payment in the payment file, the application sets the status to Canceled. The source product unlocks the documents and resets their status so that they are available for future selection.
Question 17 of 60
17. Question
Your company policy requires imaged receipts for expense reports. Which two statements are true about the association of a receipt to an expense report? (Choose two.)
You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?
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Question 19 of 60
19. Question
In which two ways does the invoice imaging solution work in the cloud? (Choose two.)
Correct
E-Mail Scanned Images Based on agreements with your suppliers, you might receive paper invoices at your bill-to locations, or you might receive images by e-mail. You can communicate imaging requirements to your suppliers, such as to send images in the TIFF format with a minimum of 300 dpi. For images sent by e-mail, imaging specialists can check for quality and proper formatting. For paper invoices, imaging specialists can sort the invoices into different categories based on parameters, such as geography, invoice type, invoice amount, and due date. They can then scan the invoices to convert them to images. Imaging specialists forward the images to the designated e-mail account. They can optionally specify attributes in the e-mail subject for the purposes of routing and recording. https://docs.oracle.com/en/cloud/saas/financials/20b/faipp/automated-invoice-processing-configuration.html#FAIPP908615
Incorrect
E-Mail Scanned Images Based on agreements with your suppliers, you might receive paper invoices at your bill-to locations, or you might receive images by e-mail. You can communicate imaging requirements to your suppliers, such as to send images in the TIFF format with a minimum of 300 dpi. For images sent by e-mail, imaging specialists can check for quality and proper formatting. For paper invoices, imaging specialists can sort the invoices into different categories based on parameters, such as geography, invoice type, invoice amount, and due date. They can then scan the invoices to convert them to images. Imaging specialists forward the images to the designated e-mail account. They can optionally specify attributes in the e-mail subject for the purposes of routing and recording. https://docs.oracle.com/en/cloud/saas/financials/20b/faipp/automated-invoice-processing-configuration.html#FAIPP908615
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E-Mail Scanned Images Based on agreements with your suppliers, you might receive paper invoices at your bill-to locations, or you might receive images by e-mail. You can communicate imaging requirements to your suppliers, such as to send images in the TIFF format with a minimum of 300 dpi. For images sent by e-mail, imaging specialists can check for quality and proper formatting. For paper invoices, imaging specialists can sort the invoices into different categories based on parameters, such as geography, invoice type, invoice amount, and due date. They can then scan the invoices to convert them to images. Imaging specialists forward the images to the designated e-mail account. They can optionally specify attributes in the e-mail subject for the purposes of routing and recording. https://docs.oracle.com/en/cloud/saas/financials/20b/faipp/automated-invoice-processing-configuration.html#FAIPP908615
Question 20 of 60
20. Question
Which three reports are generated by the export setup data process? (Choose three.)
A company has three legal entities each with a corresponding business unit all within the same country. All organizations buy and sell the same products. You are configuring the tax setup. What is the minimum number of Tax Regimes you need to configure for this company?
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Question 22 of 60
22. Question
You have 10 ledgers and 30 business units and want to leverage Reference Data Sets. What is the function of Reference Data Sets
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Question 23 of 60
23. Question
Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?
Correct
Use the Payables to General Ledger Reconciliation report to facilitate the reconciliation of payables data to the general ledger. The interactive reporting capability of the Payables to General Ledger Reconciliation report provides both summarized and detailed reconciling data for review. The summary shows payables and accounting beginning and ending balances, summarized activity for the period, and how the activity was accounted. You can drill down on any amount in the summary Difference column to see the Differences Detail report for that item. The Differences Detail report displays the real-time details that make up the summary balance and indicates potential causes for differences between actual and reconciling amounts. To view the report, you must select a ledger and request name, which is the name from the Prepare Payables to General Ledger Reconciliation process.
Incorrect
Use the Payables to General Ledger Reconciliation report to facilitate the reconciliation of payables data to the general ledger. The interactive reporting capability of the Payables to General Ledger Reconciliation report provides both summarized and detailed reconciling data for review. The summary shows payables and accounting beginning and ending balances, summarized activity for the period, and how the activity was accounted. You can drill down on any amount in the summary Difference column to see the Differences Detail report for that item. The Differences Detail report displays the real-time details that make up the summary balance and indicates potential causes for differences between actual and reconciling amounts. To view the report, you must select a ledger and request name, which is the name from the Prepare Payables to General Ledger Reconciliation process.
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Use the Payables to General Ledger Reconciliation report to facilitate the reconciliation of payables data to the general ledger. The interactive reporting capability of the Payables to General Ledger Reconciliation report provides both summarized and detailed reconciling data for review. The summary shows payables and accounting beginning and ending balances, summarized activity for the period, and how the activity was accounted. You can drill down on any amount in the summary Difference column to see the Differences Detail report for that item. The Differences Detail report displays the real-time details that make up the summary balance and indicates potential causes for differences between actual and reconciling amounts. To view the report, you must select a ledger and request name, which is the name from the Prepare Payables to General Ledger Reconciliation process.
Question 24 of 60
24. Question
Which three are Invoice Header attributes that can be used during invoice approval rule creation? (Choose three.)
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Question 25 of 60
25. Question
Your company policy requires that receipts be attached to expense report items before reimbursement can be made. Which two statements are true about the association of a receipt to an expense report?
Which is the Payables tool based on real-time data?
Correct
OTBI is real time and reports on transactional data such as invoices, payments etc. where as 2 is wrong as although FR is real time it is used to report on financial data such as balance sheet and income statement so for payable OTBI is correct
Incorrect
OTBI is real time and reports on transactional data such as invoices, payments etc. where as 2 is wrong as although FR is real time it is used to report on financial data such as balance sheet and income statement so for payable OTBI is correct
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OTBI is real time and reports on transactional data such as invoices, payments etc. where as 2 is wrong as although FR is real time it is used to report on financial data such as balance sheet and income statement so for payable OTBI is correct
Question 27 of 60
27. Question
You have invoices with distributions across primary balancing segments that represent different companies. What feature should you use if you want the system to automatically balance your invoices liability amount across the same balancing segments on the invoice distributions?
You want your expense auditors to audit only expense reports for specific business units. How do you do this?
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Question 29 of 60
29. Question
Which two statements are true about processing corporate card expenses?
Correct
https://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20375/F569964AN5C5AF.htm#F150599AN5DF9B To create the invoice with the amount due to the employee and to the card issuer, run the Process Expense Reimbursements program. Then the payment to the employee and the corporate card issuer is processed through Oracle Fusion Payments. The invoice due to the employee contains accounting distributions and project accounting, when applicable, for both the cash and corporate card expenses.
Incorrect
https://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20375/F569964AN5C5AF.htm#F150599AN5DF9B To create the invoice with the amount due to the employee and to the card issuer, run the Process Expense Reimbursements program. Then the payment to the employee and the corporate card issuer is processed through Oracle Fusion Payments. The invoice due to the employee contains accounting distributions and project accounting, when applicable, for both the cash and corporate card expenses.
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https://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20375/F569964AN5C5AF.htm#F150599AN5DF9B To create the invoice with the amount due to the employee and to the card issuer, run the Process Expense Reimbursements program. Then the payment to the employee and the corporate card issuer is processed through Oracle Fusion Payments. The invoice due to the employee contains accounting distributions and project accounting, when applicable, for both the cash and corporate card expenses.
Question 30 of 60
30. Question
A company is centralizing their payment processing using the service provider model. Which reporting level has to be used to run the Prepare Payables to General Ledger Reconciliation report?
Correct
Prepare Payables to General Ledger Reconciliation Run the Prepare Payables to General Ledger Reconciliation process to select data for the Summary section of the Payables to General Ledger Reconciliation Report. The process must run successfully for the most current summary information and before you can run the Payables to General Ledger Reconciliation Report. Prepare Payables to General Ledger Reconciliation Parameters Request Name Enter a descriptive name. Consider a name that indicates the accounting period, date, and time, especially if you‘re planning to run multiple processes. Ledger The ledgers available for selection are based on your assigned security. Business Unit Use this parameter to reconcile by a specific organization. Note: You must explicitly map business units to balancing segment values. If not, you must reconcile by ledger. Don‘t specify a business unit if you implemented centralized payment processing using the service provider model. The output from the process may be incomplete for the purposes of reconciliation.
Incorrect
Prepare Payables to General Ledger Reconciliation Run the Prepare Payables to General Ledger Reconciliation process to select data for the Summary section of the Payables to General Ledger Reconciliation Report. The process must run successfully for the most current summary information and before you can run the Payables to General Ledger Reconciliation Report. Prepare Payables to General Ledger Reconciliation Parameters Request Name Enter a descriptive name. Consider a name that indicates the accounting period, date, and time, especially if you‘re planning to run multiple processes. Ledger The ledgers available for selection are based on your assigned security. Business Unit Use this parameter to reconcile by a specific organization. Note: You must explicitly map business units to balancing segment values. If not, you must reconcile by ledger. Don‘t specify a business unit if you implemented centralized payment processing using the service provider model. The output from the process may be incomplete for the purposes of reconciliation.
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Prepare Payables to General Ledger Reconciliation Run the Prepare Payables to General Ledger Reconciliation process to select data for the Summary section of the Payables to General Ledger Reconciliation Report. The process must run successfully for the most current summary information and before you can run the Payables to General Ledger Reconciliation Report. Prepare Payables to General Ledger Reconciliation Parameters Request Name Enter a descriptive name. Consider a name that indicates the accounting period, date, and time, especially if you‘re planning to run multiple processes. Ledger The ledgers available for selection are based on your assigned security. Business Unit Use this parameter to reconcile by a specific organization. Note: You must explicitly map business units to balancing segment values. If not, you must reconcile by ledger. Don‘t specify a business unit if you implemented centralized payment processing using the service provider model. The output from the process may be incomplete for the purposes of reconciliation.
Question 31 of 60
31. Question
Your customer matches their invoices to a purchase order and have noticed that the payment terms are defaulting from the order. For some suppliers, they would like to use the payment terms from the supplier site. How can the customer achieve this?
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Question 32 of 60
32. Question
You need to have an invoice line automatically distributed across multiple cost centers. For example, you want your monthly utility bill allocated across multiple cost centers based on a percentage. Select two methods to achieve this. (Choose two.)
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Question 33 of 60
33. Question
You have a high volume of invoices to enter that have similar lines and do not require extensive validation. What must you do if you want to group multiple invoices in a batch during spreadsheet entry?
Correct
Validation Destination GROUP_ID Identifier for this batch. When you submit the import process, you must specify a source and you can optionally specify a group. Processing records by group enables you to concurrently import or purge records for the same source. You might want to assign a group ID if you‘re processing a large number of records. https://docs.oracle.com/en/cloud/saas/financials/20d/fappp/invoices.html#FAPPP592120
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Validation Destination GROUP_ID Identifier for this batch. When you submit the import process, you must specify a source and you can optionally specify a group. Processing records by group enables you to concurrently import or purge records for the same source. You might want to assign a group ID if you‘re processing a large number of records. https://docs.oracle.com/en/cloud/saas/financials/20d/fappp/invoices.html#FAPPP592120
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Validation Destination GROUP_ID Identifier for this batch. When you submit the import process, you must specify a source and you can optionally specify a group. Processing records by group enables you to concurrently import or purge records for the same source. You might want to assign a group ID if you‘re processing a large number of records. https://docs.oracle.com/en/cloud/saas/financials/20d/fappp/invoices.html#FAPPP592120
Question 34 of 60
34. Question
Which two statements are true related to configuration package?
XYZ Supplier has third party relationships defined with ABC Supplier and ACME Corporation. However, when reviewing the invoice installments for XYZ Supplier the payables specialist is unable to override the remit-to supplier name and address on the Invoice installments. What is the reason for this?
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Question 36 of 60
36. Question
You have a high volume of invoices to enter that have similar lines and do not require extensive validation. What must you do if you want to group multiple invoices in a batch during spreadsheet entry?
Correct
Validation Destination GROUP_ID Identifier for this batch. When you submit the import process, you must specify a source and you can optionally specify a group. Processing records by group enables you to concurrently import or purge records for the same source. You might want to assign a group ID if you‘re processing a large number of records. https://docs.oracle.com/en/cloud/saas/financials/20d/fappp/invoices.html#FAPPP592120
Incorrect
Validation Destination GROUP_ID Identifier for this batch. When you submit the import process, you must specify a source and you can optionally specify a group. Processing records by group enables you to concurrently import or purge records for the same source. You might want to assign a group ID if you‘re processing a large number of records. https://docs.oracle.com/en/cloud/saas/financials/20d/fappp/invoices.html#FAPPP592120
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Validation Destination GROUP_ID Identifier for this batch. When you submit the import process, you must specify a source and you can optionally specify a group. Processing records by group enables you to concurrently import or purge records for the same source. You might want to assign a group ID if you‘re processing a large number of records. https://docs.oracle.com/en/cloud/saas/financials/20d/fappp/invoices.html#FAPPP592120
Question 37 of 60
37. Question
Which three are subject area subfolders that report Payables reconciliation differences to General Ledger? (Choose three.)
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Question 38 of 60
38. Question
A Bill Payable document was paid but has not yet matured. What is the status of the payment?
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Question 39 of 60
39. Question
You need to create a recurring expense for one of your regular expenses. Which three are frequencies that you can choose for these types of expenses? (Choose three.)
Your client wants the subledger journal entry description to be transferred to general ledger. Which two could be used to enable this? (Choose two.)
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General Ledger Journal Entry Summarization The General Ledger Journal Entry Summarization option determines whether subledger journal entries are summarized when they are transferred to General Ledger as described in the table below. General Ledger Journal Entry Summarization OptionsOptionDescription Summarize by GL Period Default option; indicates that all subledger entry lines with the same GL period, General Ledger journal category, account, entered currency, side, and balance type are summarized into a single General Ledger entry; disabled if ledger uses daily balancing The GL effective date defaults to the last date of the accounting period. Summarize by GL Date Indicates that all subledger entry lines with the same GL date, General Ledger journal category, account, entered currency, side, and balance type are summarized into a general ledger entry; default value if Summarize by GL period is disabled The GL effective date is equal to the subledger GL date. No Summarization Indicates that the subledger journal entries in Subledger Accounting and General Ledger will have the same level of detail The GL effective date is equal to the subledger GL date. https://docs.oracle.com/cd/E18727_01/doc.121/e13628/T149412T282900.htm
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General Ledger Journal Entry Summarization The General Ledger Journal Entry Summarization option determines whether subledger journal entries are summarized when they are transferred to General Ledger as described in the table below. General Ledger Journal Entry Summarization OptionsOptionDescription Summarize by GL Period Default option; indicates that all subledger entry lines with the same GL period, General Ledger journal category, account, entered currency, side, and balance type are summarized into a single General Ledger entry; disabled if ledger uses daily balancing The GL effective date defaults to the last date of the accounting period. Summarize by GL Date Indicates that all subledger entry lines with the same GL date, General Ledger journal category, account, entered currency, side, and balance type are summarized into a general ledger entry; default value if Summarize by GL period is disabled The GL effective date is equal to the subledger GL date. No Summarization Indicates that the subledger journal entries in Subledger Accounting and General Ledger will have the same level of detail The GL effective date is equal to the subledger GL date. https://docs.oracle.com/cd/E18727_01/doc.121/e13628/T149412T282900.htm
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General Ledger Journal Entry Summarization The General Ledger Journal Entry Summarization option determines whether subledger journal entries are summarized when they are transferred to General Ledger as described in the table below. General Ledger Journal Entry Summarization OptionsOptionDescription Summarize by GL Period Default option; indicates that all subledger entry lines with the same GL period, General Ledger journal category, account, entered currency, side, and balance type are summarized into a single General Ledger entry; disabled if ledger uses daily balancing The GL effective date defaults to the last date of the accounting period. Summarize by GL Date Indicates that all subledger entry lines with the same GL date, General Ledger journal category, account, entered currency, side, and balance type are summarized into a general ledger entry; default value if Summarize by GL period is disabled The GL effective date is equal to the subledger GL date. No Summarization Indicates that the subledger journal entries in Subledger Accounting and General Ledger will have the same level of detail The GL effective date is equal to the subledger GL date. https://docs.oracle.com/cd/E18727_01/doc.121/e13628/T149412T282900.htm
Question 41 of 60
41. Question
Which job role has full access to perform all Functional Setup Manager related activities?
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Question 42 of 60
42. Question
What job roles are required to access information within Functional Setup Manager?
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Question 43 of 60
43. Question
You are testing the Payables to General Ledger Reconciliation report at the ledger level for your UK Ledger, you have run and selected the extract for the report but the request returned the message no data to display. What is the reason for this?
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Assigning the Financial Category You must assign the financial category of Accounts Payable to all of your liability natural account values. You perform this task on the Manage Values page for the value set associated with the natural account segment of your chart of accounts. Note: To include bills payable, intercompany, and tax authority liability accounts on the reconciliation report, you can also assign them the Accounts Payable category. After you assign the category, you can leave the Account parameter blank when you run the Prepare Payables to General Ledger Reconciliation process. The process includes all accounts that have a financial category of Accounts Payable in the ledger. You can alternatively enter specific natural account values to limit the report to reconciling only a subset of the payables accounts in the ledger. Note: You must assign the category to a natural account in your chart of accounts to see information about the Payables to General Ledger Reconciliation report. https://docs.oracle.com/en/cloud/saas/financials/20b/ocuar/oracle-fusion-payables-reports.html#OCUAR444681
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Assigning the Financial Category You must assign the financial category of Accounts Payable to all of your liability natural account values. You perform this task on the Manage Values page for the value set associated with the natural account segment of your chart of accounts. Note: To include bills payable, intercompany, and tax authority liability accounts on the reconciliation report, you can also assign them the Accounts Payable category. After you assign the category, you can leave the Account parameter blank when you run the Prepare Payables to General Ledger Reconciliation process. The process includes all accounts that have a financial category of Accounts Payable in the ledger. You can alternatively enter specific natural account values to limit the report to reconciling only a subset of the payables accounts in the ledger. Note: You must assign the category to a natural account in your chart of accounts to see information about the Payables to General Ledger Reconciliation report. https://docs.oracle.com/en/cloud/saas/financials/20b/ocuar/oracle-fusion-payables-reports.html#OCUAR444681
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Assigning the Financial Category You must assign the financial category of Accounts Payable to all of your liability natural account values. You perform this task on the Manage Values page for the value set associated with the natural account segment of your chart of accounts. Note: To include bills payable, intercompany, and tax authority liability accounts on the reconciliation report, you can also assign them the Accounts Payable category. After you assign the category, you can leave the Account parameter blank when you run the Prepare Payables to General Ledger Reconciliation process. The process includes all accounts that have a financial category of Accounts Payable in the ledger. You can alternatively enter specific natural account values to limit the report to reconciling only a subset of the payables accounts in the ledger. Note: You must assign the category to a natural account in your chart of accounts to see information about the Payables to General Ledger Reconciliation report. https://docs.oracle.com/en/cloud/saas/financials/20b/ocuar/oracle-fusion-payables-reports.html#OCUAR444681
Question 44 of 60
44. Question
You have an invoice with a payment term that has the following settings: Day of Month = 15 Cut off Day = 11 Months Ahead = 0 Terms Date on Invoice = January 12th What will the resulting due date for the invoice installment be?
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Question 45 of 60
45. Question
Which two invoice types can have a status of Incomplete? (Choose two. )
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As a supplier user, you can use these features to do your updates: ActionDescription Save and Edit Invoices You can save an invoice, created through the Supplier Portal, anytime you‘re working on it. You can even save and close the invoice and edit it later. Saved invoices are assigned the status of Incomplete and changed to the status of Pending Import upon submission of the invoice. To edit an incomplete invoice, click the invoice number link in View Invoices: Search Results. This opens an Edit Invoice page for an unmatched invoice or matched invoices based on the type of invoice you have queried. Edit the invoice and either save it for further editing or save and submit it for processing. https://docs.oracle.com/en/cloud/saas/financials/21c/fappp/invoices.html#FAPPP3281283 What‘s an incomplete invoice? An incomplete invoice is an invoice created from an invoice image that has invalid or missing data. https://docs.oracle.com/en/cloud/saas/financials/21c/fappp/invoices.html#FAPPP4341833
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As a supplier user, you can use these features to do your updates: ActionDescription Save and Edit Invoices You can save an invoice, created through the Supplier Portal, anytime you‘re working on it. You can even save and close the invoice and edit it later. Saved invoices are assigned the status of Incomplete and changed to the status of Pending Import upon submission of the invoice. To edit an incomplete invoice, click the invoice number link in View Invoices: Search Results. This opens an Edit Invoice page for an unmatched invoice or matched invoices based on the type of invoice you have queried. Edit the invoice and either save it for further editing or save and submit it for processing. https://docs.oracle.com/en/cloud/saas/financials/21c/fappp/invoices.html#FAPPP3281283 What‘s an incomplete invoice? An incomplete invoice is an invoice created from an invoice image that has invalid or missing data. https://docs.oracle.com/en/cloud/saas/financials/21c/fappp/invoices.html#FAPPP4341833
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As a supplier user, you can use these features to do your updates: ActionDescription Save and Edit Invoices You can save an invoice, created through the Supplier Portal, anytime you‘re working on it. You can even save and close the invoice and edit it later. Saved invoices are assigned the status of Incomplete and changed to the status of Pending Import upon submission of the invoice. To edit an incomplete invoice, click the invoice number link in View Invoices: Search Results. This opens an Edit Invoice page for an unmatched invoice or matched invoices based on the type of invoice you have queried. Edit the invoice and either save it for further editing or save and submit it for processing. https://docs.oracle.com/en/cloud/saas/financials/21c/fappp/invoices.html#FAPPP3281283 What‘s an incomplete invoice? An incomplete invoice is an invoice created from an invoice image that has invalid or missing data. https://docs.oracle.com/en/cloud/saas/financials/21c/fappp/invoices.html#FAPPP4341833
Question 46 of 60
46. Question
Which two tools can you use to build layouts for BI Publisher reports? (Choose two.)
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Question 47 of 60
47. Question
Your client company wants to ensure that the payments they are sending to their financial institution are valid and formatted correctly. They would like to identify any validation failures as early in the process as possible. Where would you suggest the validations are set?S
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Validations are rules that ensure that transactions are valid before they are printed or submitted electronically to payment systems. You use validations to ensure that disbursement transactions, such as invoices, payments, and payment files meet specific conditions before they can be paid. You can assign validations to payment methods and payment formats. A validation can be executed at the document payable, payment, or payment file level. https://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20375/F569970AN69A91.htm
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Validations are rules that ensure that transactions are valid before they are printed or submitted electronically to payment systems. You use validations to ensure that disbursement transactions, such as invoices, payments, and payment files meet specific conditions before they can be paid. You can assign validations to payment methods and payment formats. A validation can be executed at the document payable, payment, or payment file level. https://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20375/F569970AN69A91.htm
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Validations are rules that ensure that transactions are valid before they are printed or submitted electronically to payment systems. You use validations to ensure that disbursement transactions, such as invoices, payments, and payment files meet specific conditions before they can be paid. You can assign validations to payment methods and payment formats. A validation can be executed at the document payable, payment, or payment file level. https://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20375/F569970AN69A91.htm
Question 48 of 60
48. Question
You have enabled Payment Approval for your payment process requests (PPR). At what stage of the PPR is the payment approval process automatically triggered?
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How Payment Approval Is Processed When Payment approval is enabled, all payment process requests go through the payment approval process. When a payment process request is submitted, payment approval is automatically triggered after it reaches the Review Proposed Payments stage. The status of the payment process request is then set to Payments Approval Initiated. Payment approvers then receive payment approval e-mail notifications, as well as payment approval BPM Worklist notifications. As the following table shows, approvers can perform different payment approval actions depending on the payment approval mechanism used, whether from the Review Proposed Payments page, from email notifications, or from BPM Worklist notifications. https://docs.oracle.com/en/cloud/saas/financials/21b/fappp/payments.html#FAPPP2161450
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How Payment Approval Is Processed When Payment approval is enabled, all payment process requests go through the payment approval process. When a payment process request is submitted, payment approval is automatically triggered after it reaches the Review Proposed Payments stage. The status of the payment process request is then set to Payments Approval Initiated. Payment approvers then receive payment approval e-mail notifications, as well as payment approval BPM Worklist notifications. As the following table shows, approvers can perform different payment approval actions depending on the payment approval mechanism used, whether from the Review Proposed Payments page, from email notifications, or from BPM Worklist notifications. https://docs.oracle.com/en/cloud/saas/financials/21b/fappp/payments.html#FAPPP2161450
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How Payment Approval Is Processed When Payment approval is enabled, all payment process requests go through the payment approval process. When a payment process request is submitted, payment approval is automatically triggered after it reaches the Review Proposed Payments stage. The status of the payment process request is then set to Payments Approval Initiated. Payment approvers then receive payment approval e-mail notifications, as well as payment approval BPM Worklist notifications. As the following table shows, approvers can perform different payment approval actions depending on the payment approval mechanism used, whether from the Review Proposed Payments page, from email notifications, or from BPM Worklist notifications. https://docs.oracle.com/en/cloud/saas/financials/21b/fappp/payments.html#FAPPP2161450
Question 49 of 60
49. Question
Which three are attributes that are recognized by Invoice Imaging? (Choose three.)
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Question 50 of 60
50. Question
What data can you find in an Oracle Transactional Business Intelligence subject area attribute column?
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Question 51 of 60
51. Question
Identify the search method that allows a search across expense items and expense reports using any information captured in the expense item or expense report?
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Question 52 of 60
52. Question
Your client company has two business units and requires the Payables Specialist to process invoice transactions for both business units What setup is required to achieve this?
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Question 53 of 60
53. Question
An Office supplies company requires an advance payment of $8000 for the office supplies you wish to order. You enter and pay a prepayment type invoice for $8000. You enter the standard invoice to book the expense which totals $10000 and you apply the prepayment to the standard invoice. What are the accounting entries for that standard invoice with the prepayment application?
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Question 54 of 60
54. Question
You are voiding a payment and have selected Cancel as the Invoice Action. After performing the void, you notice the invoice is not cancelled but has an Invoice Cancel hold on it. What is reason for this?
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Question 55 of 60
55. Question
An invoice for $1,000 USD and a credit memo for ($1,100) USD are due for payment. What are the two outcomes if you chose the Apply Credits Up to Zero Amount option when submitting a Payment Process Request? (Choose two.)
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Credit Amount Greater Than Invoice Amount invoice for 1000 USD and a credit memo for 1100 USD are due for payment. If the Apply credits up to zero amount payment option is: Enabled: The payment process request applies 1000 USD of the credit memo to the invoice, leaving a remaining credit of 100 USD and creates a payment for 0 USD. – Disabled: The payment process request does not select the invoice or credit memo for payment because the credit reduces the payment to – 100 USD, which is below zero.
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Credit Amount Greater Than Invoice Amount invoice for 1000 USD and a credit memo for 1100 USD are due for payment. If the Apply credits up to zero amount payment option is: Enabled: The payment process request applies 1000 USD of the credit memo to the invoice, leaving a remaining credit of 100 USD and creates a payment for 0 USD. – Disabled: The payment process request does not select the invoice or credit memo for payment because the credit reduces the payment to – 100 USD, which is below zero.
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Credit Amount Greater Than Invoice Amount invoice for 1000 USD and a credit memo for 1100 USD are due for payment. If the Apply credits up to zero amount payment option is: Enabled: The payment process request applies 1000 USD of the credit memo to the invoice, leaving a remaining credit of 100 USD and creates a payment for 0 USD. – Disabled: The payment process request does not select the invoice or credit memo for payment because the credit reduces the payment to – 100 USD, which is below zero.
Question 56 of 60
56. Question
What does the Place of Supply rule value “Bill to Party imply in an Oracle Payables Invoice?
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We have doubt in this answer but as per our best knowledge we place it reasoning but if any one consider its wrong or required to update with valid reasoning plz ping us The following table describes the direct tax rule defaults and examples: Direct Tax Rule DefaultUsageExample Place of Supply Indicates the specific tax jurisdiction where the supply of goods or services is deemed to have taken place. In Canada, the place of supply for Goods and Services Tax (GST) is typically the ship-to location. To handle the majority of GST transactions, select Ship to as your default place of supply. Note: The corresponding place of supply differs based on the type of transaction. For example, a place of supply of Ship to corresponds to the location of your first-party legal entity for Payables transactions. For Receivables transactions, Ship to corresponds to the location of your customer site. https://docs.oracle.com/en/cloud/saas/financials/20b/faitx/tax-configuration.html#FAITX223758
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We have doubt in this answer but as per our best knowledge we place it reasoning but if any one consider its wrong or required to update with valid reasoning plz ping us The following table describes the direct tax rule defaults and examples: Direct Tax Rule DefaultUsageExample Place of Supply Indicates the specific tax jurisdiction where the supply of goods or services is deemed to have taken place. In Canada, the place of supply for Goods and Services Tax (GST) is typically the ship-to location. To handle the majority of GST transactions, select Ship to as your default place of supply. Note: The corresponding place of supply differs based on the type of transaction. For example, a place of supply of Ship to corresponds to the location of your first-party legal entity for Payables transactions. For Receivables transactions, Ship to corresponds to the location of your customer site. https://docs.oracle.com/en/cloud/saas/financials/20b/faitx/tax-configuration.html#FAITX223758
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We have doubt in this answer but as per our best knowledge we place it reasoning but if any one consider its wrong or required to update with valid reasoning plz ping us The following table describes the direct tax rule defaults and examples: Direct Tax Rule DefaultUsageExample Place of Supply Indicates the specific tax jurisdiction where the supply of goods or services is deemed to have taken place. In Canada, the place of supply for Goods and Services Tax (GST) is typically the ship-to location. To handle the majority of GST transactions, select Ship to as your default place of supply. Note: The corresponding place of supply differs based on the type of transaction. For example, a place of supply of Ship to corresponds to the location of your first-party legal entity for Payables transactions. For Receivables transactions, Ship to corresponds to the location of your customer site. https://docs.oracle.com/en/cloud/saas/financials/20b/faitx/tax-configuration.html#FAITX223758
Question 57 of 60
57. Question
While processing an expense report, the system placed a payment hold on the expense report. What are two ways to release payment holds?
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The Process Expense Report Reimbursement process also checks whether expense report payment holds can be released. Payment holds are released when: The expense auditor manually releases the payment hold on the Audit Expense Report page by selecting the Release Hold option on the Actions menu. Based on receipt status, Expenses detects that receipts are received or waived and automatically releases the payment hold.
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The Process Expense Report Reimbursement process also checks whether expense report payment holds can be released. Payment holds are released when: The expense auditor manually releases the payment hold on the Audit Expense Report page by selecting the Release Hold option on the Actions menu. Based on receipt status, Expenses detects that receipts are received or waived and automatically releases the payment hold.
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The Process Expense Report Reimbursement process also checks whether expense report payment holds can be released. Payment holds are released when: The expense auditor manually releases the payment hold on the Audit Expense Report page by selecting the Release Hold option on the Actions menu. Based on receipt status, Expenses detects that receipts are received or waived and automatically releases the payment hold.
Question 58 of 60
58. Question
Identify three predefined accounting event classes used by subledger Accounting?
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Payables predefines accounting event classes and accounting event types that are used by Subledger Accounting. You can modify the accounting setup to create accounting for some events and not for others. This table describes the event classes and types that Payables predefines for invoices and payments. Event classes include (among others): Bills Payable Third Party Merge Refunds References:
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Payables predefines accounting event classes and accounting event types that are used by Subledger Accounting. You can modify the accounting setup to create accounting for some events and not for others. This table describes the event classes and types that Payables predefines for invoices and payments. Event classes include (among others): Bills Payable Third Party Merge Refunds References:
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Payables predefines accounting event classes and accounting event types that are used by Subledger Accounting. You can modify the accounting setup to create accounting for some events and not for others. This table describes the event classes and types that Payables predefines for invoices and payments. Event classes include (among others): Bills Payable Third Party Merge Refunds References:
Question 59 of 60
59. Question
Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?
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Question 60 of 60
60. Question
You need to create a payment for a supplier before the next payment run. The invoice you wish to pay is not available for selection in the Create Payment page. Which two are possible reasons for this? (Choose two.)
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