Download Oracle Financials Cloud: Payables 2017 Implementation Essentials.1z0-961.Prep4Sure.2018-09-29.43q.vcex
| Vendor: | Oracle |
| Exam Code: | 1z0-961 |
| Exam Name: | Oracle Financials Cloud: Payables 2017 Implementation Essentials |
| Date: | Sep 29, 2018 |
| File Size: | 28 KB |
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Demo Questions
Question 1
You want 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.
- Customize the Subledger Accounting rules to allocate costs.
- Define a distribution set and assign it manually to the invoice.
- Enter the invoice in Payables and then use general ledger’s Calculation Manager to allocate the costs.
- Define a distribution set and assign it to the supplier.
Correct answer: AB
Question 2
Which two statements are true when you are using the Intercompany Reconciliation Process?
- Transaction Summary Report will show only transactions with status received.
- The reconciliation period summary report will show the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
- 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.
- You must run the Extract Intercompany Reconciliation Data job.
- 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.
Correct answer: BD
Question 3
What happens if a company runs the Payables Unaccounted Transactions Sweep program for February 2016 if the invoices with a Hold status have an invoice date of January 20, 2016?
- The accounting dates of all unaccounted invoices will change to February 28, 2016, the last day of the next period.
- The accounting dates of all unaccounted invoices will remain unchanged at January 20, 2016.
- The accounting dates of all unaccounted invoices will be changed to February 1, 2016, the first day of the next period.
- The accounting dates of all unaccounted invoices will be changed to February 20, 2016, the same day of the next period.
Correct answer: A
Question 4
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?
- Run the process Transfer Intercompany transactions to Receivables and Transfer Intercompany transaction to Payables.
- For the Legal Jurisdiction, Legal function “Generate intercompany invoice” should be assigned.
- Supplier site primary pay flag and customer account bill to primary flag should be enabled.
- Manual Approvals should be allowed for the transaction type.
- Schedule create accounting for the intercompany process.
- Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.
Correct answer: A
Explanation:
Reference https://docs.oracle.com/cloud/latest/financialscs_gs/FAUGL/FAUGL1476872.htm Reference https://docs.oracle.com/cloud/latest/financialscs_gs/FAUGL/FAUGL1476872.htm
Question 5
If you accidentally paid an invoice using Create Payment flow, can you undo the operation?
- Cancel the invoice and create a new one.
- yes, by creating a credit memo to offset the payment
- yes, by canceling the payment process from the process monitor
- no
- yes, by voiding the payment created
Correct answer: E
Question 6
After you submitted a Payment Process Request, you noticed errors. You want to void the payments.
Identify two statements that indicate when it is not possible to void a payment.
- A payment with the status of Issued.
- A payment that has already cleared the bank.
- A payment for an invoice with an associated Withholding Tax invoice.
- A payment that has been accounted and posted to General Ledger.
- A payment that pays a prepayment that has been applied to an invoice.
Correct answer: BE
Question 7
Which component is not included in the security architecture for credit card data and bank account data encryption?
- Payments master encryption key
- Oracle Wallet
- Payments subkeys
- Sensitive data encryption and storage
- Supplier master encryption key
Correct answer: E
Question 8
While entering an expense report for your corporate card transactions, you notice that the conversion rate defined in the Manage Conversion Rates and Policies page is not used.
What is the reason?
- You did not define conversion rates in the General Ledger Cloud.
- Only cash transactions use those settings.
- You did not define conversion rates for your business unit.
- You did not specify a default expense template.
Correct answer: B
Question 9
A Payment Process Request was submitted and errors were found in the payment file. The payment file and process were terminated.
Which two statements are true?
- The invoices are placed on payment hold.
- The status of each payment in the payment file is Cancelled and the related documents are available for future selection.
- The status of the payment file is Cancelled.
- The status of the payment file is Terminated.
- The status of each payment in the payment file is Terminated.
Correct answer: DE
Question 10
You have successfully processed the expense reports for reimbursement and have transferred the information to Payables. What is the next step before you can pay them?
- Transfer the data to General Ledger.
- Create Accounting for the invoice in Payables.
- Validate the invoice in Payables.
- Create a payment process request in Payments.
Correct answer: D
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