Oracle Fusion Financials 11g Accounts Payable Essentials (1z1-507) Free Practice Test

Question 1

There is a business requirement to cancel all related invoices when voiding a payment.
In which two scenarios the invoices can NOT be canceled?

A. The invoice has been partially paid by another payment.

B. The invoice is fully matched to a Purchase Order which is fully received.

C. The invoice has an associated withholding tax invoice.

D. The Invoice has been partially paid by a Prepayment.

E. The invoice is already accounted.

Correct Answer: A,D

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Question 2

What invoice approval status is required to apply the invoice approval action Hold from Approval?

A. Initiated

B. Held from Approval

C. Required

D. Rejected

E. Resubmit for Approval

Correct Answer: C

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Question 3

What are the three modes available to enter expense reports?

A. Spreadsheet Integration

B. Oracle Fusion Payments

C. Oracle Fusion Projects

D. Oracle Fusion Payables

E. Oracle Fusion Expenses

Correct Answer: C,D,E

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Question 4

Which section of the Payment Dashboard lists all the processes submitted within the last 72 hours?

A. Supplier Sites on Payment Hold

B. Stop Payment Requests

C. Process Monitor

D. Schedule Requests

E. Payment Process requests

Correct Answer: E

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Question 5

An installment meets all the selection criteria of a payment process request but still did NOT get selected for payment.
Identify two reasons for this.

A. The invoice has NOT been accounted.

B. The pay-through date is in the future period.

C. The pay-through date is in the closed period.

D. The installment was manually removed.

E. The invoice needs revalidation.

Correct Answer: C,E

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Question 6

The Apply Missing Conversion Rates program can only be executed for a ___________.

A. Business Unit

B. Ledger Set

C. Business Group

D. Legal Entity

E. Ledger

Correct Answer: E

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Question 7

Identify three statuses that appear in the Processed Tab in the Expense Report region.

A. Ready for Payment

B. Pending Your Resolution

C. Rejected

D. Saved

E. Partially paid

F. Paid

Correct Answer: A,B,F

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Oracle Fusion Financials 11g Accounts Payable Essentials (1z1-507) Free Practice Test