Oracle Financials Cloud: Payables 2017 Implementation Essentials - 1z0-961 FREE EXAM DUMPS QUESTIONS & ANSWERS]

Question 1

A Payment Process Request was submitted and errors were found in the payment file. The payment file and process were terminated.
Which two statements are true? (Choose two.)

A. The status of each payment in the payment file is Cancelled and the related documents are available for future selection. B. The status of the payment file is Cancelled. C. The invoices are placed on payment hold. D. The status of each payment in the payment file is Terminated. E. The status of the payment file is Terminated.

Discussion 0

Correct Answer: D,E Vote an answer

Question 2

Select three reasons why you cannot close your Payables period. (Choose three.)

A. bills payable requiring maturity B. open intercompany transactions C. unapplied prepayments D. unaccounted invoices and payments E. suppliers on payment holds

Discussion 0

Correct Answer: A,D,E Vote an answer

Question 3

You have three procurement business units, four requisition business units and five sold-to business units. For which will the supplier registration flows be deployed?

A. twelve business units per supplier B. five sold-to business units C. four requisition business units D. three procurement business units E. one business unit per supplier

Discussion 0

Correct Answer: E Vote an answer

Question 4

What are the output formats supported for Electronic and Check format programs?

A. Electronic output format of PDF, Check output format of PDF B. Electronic output format of etext, Check output format of rtf C. Electronic output format of Text, Check output format of Text D. Electronic output format of DATA (csv), Check output format of Zipped PDFs E. Electronic output format of XML, Check output format of rtf

Discussion 0

Correct Answer: E Vote an answer

Question 5

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? (Choose two.)

A. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report. B. An expense report may require original, imaged, or both types or receipts. C. Receipts are not required if the expense item falls within Per Diem Rates. D. Expenses do not create payment requests for expense reports that have missing or overdue receipts.

Discussion 0

Correct Answer: B,D Vote an answer

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Question 6

When reviewing installments, what setup is required to override the supplier site on an invoice?

A. Allow the remit-to supplier override for third-party payments at Manage Payment options. B. Allow the remit-to supplier address override for third-party payments at Manage Invoice options. C. Allow payee to override for third-party payments while Manage Invoice options. D. Allow the remit-to supplier override for third-party payments at Manage Invoice options.

Discussion 0

Correct Answer: D Vote an answer

Question 7

You have an invoice for a three-month lease and wish to recognize the expense monthly for the duration of the lease.
What must be entered on the invoice in order to do this?

A. You must provide a start date and the accrual account for the prepaid expenses in the invoice lines or distributions. B. You must provide a start date and an end date for the prepaid expenses in the invoice lines or distributions. C. You must provide the accrual account for the prepaid expenses in the invoice lines or distributions. D. You must provide a start date, an end date, and the accrual account for the prepaid expenses in the invoice lines or distributions.

Discussion 0

Correct Answer: C Vote an answer

Question 8

A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?

A. Manage Payable Options and Manage common options for Payables and Procurement B. Manage Payable Options and Manage Invoice Options C. Manage common options for Payables and Procurement and Manage Procurement agents D. Manage Invoice Options and Manage common options for Payables and Procurement E. Manage Invoice Options and Manage Procurement agents

Discussion 0

Correct Answer: A Vote an answer

Question 9

You are using the Payable's 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?

A. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000 B. On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000 C. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000and thenOn Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On Feb 28th, Debit Rental Expense for
4,000 and Credit Prepaid Expense for 4,000On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000 D. On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On Jan 10th, Debit Prepaid Expense for 12,000 and Credit Liability for 12,000

Discussion 0

Correct Answer: C Vote an answer