Oracle Financials Cloud: Payables 2018 Implementation Essentials (1Z1-1005) Free Practice Test

Question 1

During your business trip to the UK, you took a taxi ride and paid for it by using your personal Visa credit card. While entering your expenses, you get a warning that a different conversion rate was applied to the taxi expense by Visa that the one used by your company.
How do you handle this situation?

A. Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then, wait to get a revised statement.

B. Do not enter the taxi expense and call your Finance Department so that they can make changes in the conversion rate settings and you do not violate the allowable limit.

C. Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a different conversion rate.

D. Use the corporate-defined conversion rate even if it means you will not be reimbursed fully.

Correct Answer: B

Question 2

Which three are attributes that are recognized by Invoice Imaging? (Choose three.)

A. Invoice Date

B. PO Number

C. Invoice Number

D. Payment Method

E. Terms Date

Correct Answer: A,B,C

Question 3

Identify what Oracle considers two best practices when setting up Payables and Receivables account access for bank reconciliation. (Choose two.)

A. Do not assign bank accounts to business units.

B. Only business units who use the same ledger as the bank accounts owning legal entity can be assigned access.

C. Allow bank accounts to be accessed by all roles and users because the default value to secure a bank account by users and roles is No.

D. Assign a few general ledger cash accounts to multiple bank accounts to facilitate book-tobank reconciliation.

E. Business units must be granted access to the bank account.

Correct Answer: B,E

Question 4

Before you can configure payment approval rules, your company must define a payment approval policy.
Which three are done by the payment approval policy? (Choose three.)

A. It defines a list of approvers who review payments and make final payment decisions.

B. It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.

C. It determines which payments must go through the payment approval process.

D. It allows approvers to review payments and decide whether or not to approve a payment.

E. It defines when to initiate the payment approval process.

Correct Answer: A,B,E

Question 5

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. Payables' Allow Reconciliation Accounting

B. Suspense Accounts

C. Subledger Accounting's Account Rules

D. Intercompany Balancing

E. Payable's Automatic Offset

Correct Answer: E

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 Invoice options.

B. Allow the remit-to supplier address override for third-party payments at Manage Invoice options.

C. Allow the remit-to supplier override for third-party payments at Manage Payment options.

D. Allow payee to override for third-party payments while Manage Invoice options.

Correct Answer: B

Question 7

Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run? (Choose two.)

A. Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables.

B. Manual Approvals should be allowed for the transaction type.

C. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.

D. Supplier site primary pay flag and customer account bill to primary flag should be enabled.

E. Schedule create accounting for the intercompany process.

F. For the Legal Jurisdiction, Legal function: "Generate intercompany invoice" should be assigned.

Correct Answer: A,D

Question 8

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.)

A. Define a distribution set and assign it manually to the invoice.

B. Choose the 'All Lines' option from the Allocate menu in the invoice line area.

C. Configure Subledger Accounting rules to allocate costs.

D. Define a distribution set and assign it to the supplier.

Correct Answer: A,C

Question 9

Which two statements are true related to configuration package? (Choose two.)

A. You can export and import the allocation rules from the allocation manager.

B. You can export and import the custom roles from Oracle Identity Manager.

C. You can export and import selected business object services.

D. You can export and import selected business units.

E. You can export and import the approval rules from the approval management engine.

Correct Answer: B,C

Question 10

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

A. Payables Dashboard only

B. Invoices Workarea only

C. Manage Invoices page

D. C-level executives

E. Payables Dashboard and Invoices Workarea

Correct Answer: B

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Oracle Financials Cloud: Payables 2018 Implementation Essentials (1Z1-1005) Free Practice Test