Oracle EBS R12.1 Payables Essentials (1Z1-517) Free Practice Test

Question 1

Identify the conditions that must exist before you can apply an advance against an expense report.

A. The prepayment type is permanent, has been validated, and not canceled.

B. The prepayment type is temporary and has not been fully applied.

C. The prepayment type is temporary and has been fully applied.

D. The prepayment type is permanent and no active holds exist for the prepayment.

Correct Answer: B

Question 2

View the Exhibit.

While entering a journal in the Journals form, you enter a code combination of 29.402.4519.2103.240 in the five-segment Accounting Flexfield. However, you are unable to proceed after entering this account combination.
What could be the problem in the structure definition of the Accounting Flexfield?

A. The "Allow Dynamic Inserts" check box is deselected.

B. The "Freeze Rollup Groups" check box is selected.

C. The "Freeze Flexfield Definition" check box is selected.

D. The "Cross-Validate Segments" check box is selected.

Correct Answer: A

Question 3

Which three restrictions apply when you are paying invoices with a (quick) payment type? (Choose three.)

A. If you want to pay multiple invoices, none can be of an invoice type of prepayment.

B. You can select only those invoices that are due.

C. You can pay only as many invoices as you defined for the remittance advice of the payment document.

D. If you want to pay multiple invoices, none can be a pay alone invoice.

E. You can select only those invoices that have the same supplier site as te payment supplier site you enter.

Correct Answer: C,D,E

Question 4

ABC Inc. added a new Operating Unit to its existing Multi-Org Access-enabled responsibility. When users logged in using their existing responsibility, they could not see the new Operating Unit in the list of values.
What could be the cause?

A. The Set MO: Security profile was not defined for the responsibility.

B. Security List Maintenance was not run.

C. The Set MO: Default Operating Unit profile was not defined.

D. The Set MO: Operating Unit profile was not defined.

E. The Set Multi-Org Preferences profile was not defined.

Correct Answer: B

Question 5

Subledger Accounting is a rule-based accounting engine that centralizes accounting for Oracle E-Business Suite Release 12 products.
Select the Oracle application that is NOT a Subledger Accounting module.

A. Payables

B. Receivables

C. Purchasing

D. General Ledger

E. Assets

Correct Answer: D

Question 6

Payable lists four seeded payment methods. They are check, outsourced check, electronic, and wire.
Choose the correct description for wire.

A. transmission of payment information to an external party, such as your bank, that prints checks on your behalf.

B. a funds transfer initiated by contracting the bank and requesting wire payment to the bank of a supplier.

C. an EFT, EDI, or XML to the bank of a supplier

D. a paper check to print and send to a supplier

Correct Answer: B

Question 7

Identify the statement that reflects the functionality of the Create Accounting Process.

A. You can use the Create Accounting Process to create subledger accounting entries and validate the invoices.

B. The Create Accounting Process is used to create subledger accounting entries, and transfer and post the transactions to General Ledger.

C. The Create Accounting Process creates subledger accounting entries.

D. The Create Accounting Process is used to create subledger accounting entries and transfer the transactions to General Ledger.

Correct Answer: C

Question 8

Select the most common level of security for the MO: Security Profile.

A. Application

B. Site

C. User

D. Responsibility

Correct Answer: D

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Oracle EBS R12.1 Payables Essentials (1Z1-517) Free Practice Test