Oracle EBS R12.1 Payables Essentials - 1Z0-517 FREE EXAM DUMPS QUESTIONS & ANSWERS]

Question 1

Control options at the site level default from ______.

A. system options B. the supplier C. payables options D. financial options

Discussion 0

Correct Answer: B Vote an answer

Question 2

Select two restrictions that apply to consolidating budget balances. (Choose two.)

A. If the source and target budgets do not share the same calendar, you must consolidate a specific period to a specific period. B. If the source and target budgets share the same calendar, you must consolidate a specific period to a specific period. C. If the source and target budgets do not share the same start period, you must consolidate a specific period to a specific period. D. If the source and target budgets do not share the same ledger, you must consolidate a specific period to a specific period. E. If the source and target budgets share the same start period, you must consolidate a specific period to a specific period.

Discussion 0

Correct Answer: A,C Vote an answer

Question 3

ABC Corp. requires that all invoices are matched to both a purchase order and a receipt. Invoice tolerances are set to zero.
A standard purchase order is entered for consulting services. An invoice is entered and matched against a purchase order. The total invoice amount matches the distribution amount.
When the steps to prepare the invoice for payment are completed, the invoice is placed on hold. The company's business policy states that all holds cannot be manually released.
To pay the supplier, identify the step to be completed to remove the hold and be eligible for payment.

A. The service must be received in Accounts Payable because it is a purchase order for a service and not a commodity or item. B. The service must be received in Purchasing because three-way matching is required. C. Manually release the hold because it is not a system hold. D. Inspection is required because it is a three-way match. E. Change the invoice tolerances in the Payables Options form to be greater than zero, so that the invoice does not go on hold again.

Discussion 0

Correct Answer: B Vote an answer

Question 4

Identify three statements that are true for creating withholding tax for standard, recurring, and prepayment invoices. (Choose three.)

A. The Withholding Tax Report is prepared by suppliers. B. The Withholding Tax Group default in from the supplier or supplier site. C. You can set up a special calendar to define periods that Payables uses for automatic withholding tax. D. The Withholding Tax Invoice Description field does NOT include the invoice that the withholding tax invoice is associated with. E. There can be multiple withholding tax codes with multiple tax authorities assigned to a group.

Discussion 0

Correct Answer: B,C,E Vote an answer

Question 5

You are in the Tax Lines Summary window and you update the calculated tax amount of one of the taxable distributions. You must also adjust ________.

A. the self assessed taxes in the Tax Details window B. the number of invoice lines C. the amount of another distribution D. the total header invoice amount

Discussion 0

Correct Answer: C Vote an answer

Question 6

Identify the four resources that Oracle Technology Network (OTN) provides. (Choose four.)

A. Applications Electronic Technical Reference Manuals (eTRM) B. technical articles C. product downloads D. Bug Database E. product documentation F. sample codes

Discussion 0

Correct Answer: B,C,E,F Vote an answer

Question 7

Which two statements are true regarding ownership of shared entities? (Choose two.)

A. Customers is owned by Oracle Human Resources, whereas Locations is owned by Oracle Receivables. B. Ledger is owned by Oracle General Ledger, whereas Locations is owned by Oracle Human Resources. C. Items is owned by Oracle Purchasing, whereas Locations is owned by Oracle Receivables. D. Suppliers is owned by Oracle Purchasing, whereas Units of Measure is owned by Oracle Inventory. E. Sales Force is owned by Oracle Order Management, whereas Employees is owned by Oracle Human Resources.

Discussion 0

Correct Answer: B,D Vote an answer

Question 8

Identify four purposes for which the Special Calendar is used. (Choose four.)

A. opening and closing payables periods B. automatic tax withholding C. controlling the number of future periods D. Key Indicators Report E. payment terms F. recurring invoices

Discussion 0

Correct Answer: B,D,E,F Vote an answer

Question 9

Identify two events that take place when an invoice is matched to a purchase order. (Choose two.)

A. The quantity billed is updated. B. The purchase order accounting information is copied to the invoice. C. Tolerances are enforced. D. The quantity received is updated.

Discussion 0

Correct Answer: A,B Vote an answer

Question 10

Identify the three levels that a Pay Group may be assigned. (Choose three.)

A. supplier B. payment type C. supplier's site D. invoice E. purchase order

Discussion 0

Correct Answer: A,C,D Vote an answer