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1Z0-961 Online Practice Questions and Answers

Questions 4

Which is the Payables tool based on real-time data?

A. Essbase Cube

B. Oracle Financial Reporting (FR)

C. Oracle Transactional Business Intelligence (OTBI)

D. Smart View

E. Oracle Business Intelligence Applications (OBIA)

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Questions 5

Which component is not included in the security architecture for credit card data and bank account data encryption?

A. Payments master encryption key

B. Oracle Wallet

C. Payments subkeys

D. Sensitive data encryption and storage

E. Supplier master encryption key

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Questions 6

What is the invoice type of an unapproved, unmatched invoice that was created in Fusion Supplier Portal?

A. iSupplier Invoice

B. Credit Memo

C. Standard Invoice

D. Standard invoice request

E. Supplier payment request

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Questions 7

Select three reasons why you cannot close your Payables period.

A. suppliers on payment holds

B. bills payable requiring maturity

C. unapplied prepayments

D. open intercompany transactions

E. unaccounted invoices and payments

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Questions 8

A company has a requirement to default the disbursement bank account when submitting a Payment Process Request.

Which two actions will accomplish this?

A. Define the Disbursement Bank Account to every supplier.

B. Define the Disbursement Bank Account to the Payment Method in payment default rules.

C. Assign the Disbursement Bank Account to users to have the payment process default the bank account.

D. Create a Payment Process Request template that includes the Disbursement Bank Account.

E. Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account.

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Questions 9

Which invoice types can be included in the Create Payment flow?

A. Standard, Credit Memo and Debit Memo

B. Standard, Credit Memo, and Invoice Request

C. Standard, Credit Memo and Customer Refund

D. Standard, Debit Memo and Customer Refund

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Questions 10

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 invoice's liability amount across the same balancing segments on the invoice distributions?

A. Suspense Accounts

B. Subledger Accounting's Account Rules

C. Intercompany Balancing

D. Payables' Automatic OffsetE, Payables' Allow Reconciliation Accounting

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Questions 11

Which dashboard or workarea displays the Scanned Invoices region for invoices processed through the Payables Integrated Imaging solution?

A. Invoices Workarea only

B. Payables Dashboard and Invoices Workarea

C. Payables Dashboard only

D. Manage Invoices page

E. C-Level executives

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Questions 12

Which attributes on the payables invoice can be used during approval rule creation?

A. company and cost center segment only

B. cost center segment and supplier only

C. supplier only

D. company segment, cost center segment, supplier, and Attribute 1 on the invoice line

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Questions 13

You have two business units, Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?

A. Assign the Expense Auditor job roles to each auditor.

B. Assign the Expense Auditor as the owner of each business unit.

C. Assign the Expense Auditor Vision Operations and Expense AuditorVision Services data roles to each Expense Auditor.

D. Use segment value security rules to secure access to business units.

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Questions 14

Which two statements are true when you are using the Intercompany Reconciliation Process?

A. Transaction Summary Report will show only transactions with status received.

B. The reconciliation period summary report will show the intercompany receivable and the intercompany payablelines generated by the intercompany balancing feature.

C. Ledger balancing lines are generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.

D. You must runthe Extract Intercompany Reconciliation Data job.

E. The reconciliation period summary report will not show the intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction.

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Questions 15

You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?

A. Imported

B. Never Validated

C. Validated

D. Needs Revalidation

E. Not Required

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Questions 16

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 12,000and thenOn Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On Feb 28st, 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

B. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000

C. On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On Feb 28st, 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 12,000 and Credit Liability for 12,000

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Questions 17

If you accidentally paid an invoice using Create Payment flow, can you undo the operation?

A. Cancel the invoice and create a new one.

B. yes, bycreating a credit memo to offset the payment

C. yes, by canceling the payment process from the process monitor

D. no

E. yes, by voiding the payment created

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Questions 18

Your company wants to generate intercompany transactions in USD but only if the amount involved is $3,000 USD or more. Which two intercompany system options are valid?

A. Approval rules need to set the allow of the intercompany transactions to be routed to the receiver or provider.

B. Set the intercompany system option minimum transaction amount of $3,000 USD.

C. Intercompany invoices will be generated for the minimum accountable amount set at the payable invoice options and receivable system options.

D. You cannot update the minimum transaction currency when intercompany currency is entered.

E. Set the intercompany system option minimum transaction amount to $2,999.99 USD.

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Exam Code: 1Z0-961
Exam Name: Oracle Financials Cloud: Payables 2017 Implementation Essentials
Last Update: Mar 21, 2024
Questions: 79 Q&As

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