PeopleSoft Payables 9.1 Essentials (1z0-573) Free Practice Test

Question 1

What are the two required fields to create a personalized search on Matching Workbench?

A. Business Unit

B. Origin

C. Match Status

D. Match Due Date

E. Voucher ID

Correct Answer: A,C

Question 2

PeopleSoft Payables enables you to use alternate bankaccounts to replace the original bank accounts defined for a pay cycle according to bank replacement rules. All are bank replacement options except ______.

A. Replace All Bank Accounts: Replace the original bank accounts for all payments in a pay cycle with multiple alternate bank accounts.

B. Replace Bank with Another Bank: Replace a particular original bank account or payment method with an alternate bank account or payment method.

C. Replace by Currency: Assign an alternate bank account, payment method, and currency to all payments scheduled to be made with a particular original currency.

D. Replace by Bank Maximum Limit:Assign an alternate bank account to any payments that remain after the monetary total of accumulated payments from a single bank account exceeds a defined monetary limit for that bank account.

E. Replace by Individual Payment Limit: Assign an alternate bank account to any individual payment that exceeds a monetary amount limit that is predefined for the original bank account.

Correct Answer: E

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Question 3

Which four dates are used in conjunction with the voucher payment terms to calculate the net due date, discount due date (if applicable), and the scheduled due date?

A. Recpt Date (receipt date)

B. Inv Date (invoice date)

C. Doc Date (document date-date voucher is entered)

D. User Date (user-specified date)

E. Rec Date (reconciliation date)

Correct Answer: A,B,C,D

Question 4

Identify four credit processing options.

A. Process Credit Vouchers

B. Process When DRs >= CRs

C. Process When CRs Exceed DRs

D. Process When DRs Exceed CRs

E. DoNot Process Credit Vouchers

Correct Answer: A,B,C,D

Question 5

Which three are supported by the Peoplesoft payment interface?

A. Peoplesoft Expenses expense sheet

B. Peoplesoft purchasing rebate claim process

C. Peoplesoft Treasury settlement payments

D. Peoplesoft Payroll payments

E. PeoplesoftExpenses cash advance payments

Correct Answer: A,B,D

Question 6

As you define vendors in PeopleSoft, you can specify various types of control information, such as duplicate invoice checking and voucher approval processing, which either appears by default from the hierarchy or can be overridden and changed for a specific vendor.Select the correct PeopleSoft control defaulting hierarchy.

A. Control Group > Business Unit > Origin > Transaction > Transaction Detail

B. Vendor > Business Unit > Origin > Control Group > Transaction > Transaction Detail

C. Vendor > Business Unit > Origin > Transaction > Transaction Detail

D. Control Group > Business Unit > Origin > Vendor > Transaction > Transaction Detail

E. Business Unit > Origin > Control Group > Vendor > Transaction > Transaction Detail

Correct Answer: D

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Question 7

Consider a completely unpaid regular voucher that is posted, the accounting entries of which are posted to general ledger. These journals are in valid status but not yet posted to ledger. The AP user decided to close the voucher, navigated to the voucher close page, and marked this voucher for closure. What would be the next appropriate action to close the voucher completely and to maintain the account balances in sync?

A. Create reversal journal entries in general ledger in order to balance the original journal entries created

B. Run voucher posting and then the journal generator to push the closure entries to general ledger

C. Run journal generation directly. Marking the voucher for closure will generate closure entries automatically.

D. No further action is necessary. Marking the voucher for closure will automatically generate reversal entries at both the voucher accounting level and the journal level.

Correct Answer: D

Question 8

What are two Office of Foreign Asset Control (OFAC) Vendor Compliance requirements?

A. Vendors financial history is accessible from anywhere

B. Importable SDN List

C. Compliance from all US-based persons and businesses

D. Canadian vendors are unable to collect tax breaks in the US

Correct Answer: B,D

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Oracle PeopleSoft Payables 9.1 Essentials (1z0-573) Free Practice Test