Oracle Fusion Financials Accounts Payables (AP) Dumps - ap_rev_test

 1.       XYZ Supplier has third party relationships defined with ABC Supplier and ACME Corporation. However, when reviewing the invoice installments for XYZ Supplier the payables specialist is unable to override the remit-to supplier name and address on the Invoice installments. What is the reason for this?

·       A. The option ‘Allow remit-to supplier override for third-party payments’ is not checked in the Invoice Options page for the business unit.

·       B. The option ‘Allow remit-to supplier override for third-party payments’ is not checked in the Common Options for Payables and Procurement page for the business unit.

·       C. The option ‘Allow remit-to supplier override for third-party payments’ is not checked in the Payment Options page for the business unit.

·       D. The option ‘Allow remit-to supplier override for third-party payments’ is not checked in the Disbursement System Options page for the business unit.

 

2.       Select two statements about the submission of invoices by suppliers using Supplier Portal.

·       A. A supplier can submit a single invoice against multiple purchase orders across different currencies and organizations.

·       B. A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed.

·       C. A supplier can validate the invoice after submitting it.

·       D. A supplier can submit a single invoice against multiple purchase orders, provided the currency and organization for all the invoice items are the same as those on the purchase orders.

·       E. A supplier can make changes to the invoice after submitting it.

 

3.       What are the two advantages of using a spreadsheet for correcting invoice import errors?

·       A. identification of errors with clear error messages at the invoice header and line levels

·       B. identification of errors with clear error messages at the invoice header level only

·       C. ability to correct errors and re-import invoices directly from a spreadsheet

·       D. ability to correct errors within the spreadsheet and send invoice corrections for approval

·       E. ability to enter a high volume of invoices via a spreadsheet

 

4.       A company has a requirement to default the disbursement bank account when submitting a Payment Process Request.

Which action will accomplish this?

·       A. Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account.

·       B. Define the Disbursement Bank Account to the Payment Method in payment default rules.

·       C. Define the Disbursement Bank Account to every supplier.

·       D. Create a Payment Process Request template that includes the Disbursement Bank Account.

·       E. Assign the Disbursement Bank Account to users to have the payment process default the bank account.

 

5.       Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?

·       A. Payables to Ledger Reconciliation report

·       B. Payables Aging reports with the General Ledger Trial Balance report

·       C. General Ledger Financial Statements and the Accounts Payable and Invoice Registers

·       D. Payables Trial Balance and General Ledger Trial Balance reports

 

6.       Select three reasons why you cannot close your Payables period.

·       A. Bills payable requiring maturity

·       B. Unaccounted invoices and payments

·       C. Suppliers on payment holds

·       D. Unapplied prepayments

·       E. Incomplete payment files

 

7.       You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid?

·       A. Both the invoice and the credit memo are selected and the Payment Process Request requires attention.

·       B. Both the invoice and the credit memo are paid and a refund of $25 USD is created.

·       C. Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero.

·       D. Both the invoice and credit memo are included in the payment process request for a payment amount of $0 USD. The credit memo is partially paid with a remaining credit of $25 USD.

 

8.       Which three are supported image formats for the Integrated Imaging solution? (Choose three.)

·       A. RTF

·       B. JPEG

·       C. TIFF

·       D. XLS

·       E. PNG

 

9.       Identify three scenarios where you are not allowed to cancel an invoice.

·       A. An accounting entry has been created for the invoice.

·       B. Prepayments were applied to the invoice.

·       C. The invoice was adjusted by a credit or a debit memo.

·       D. The invoice is validated.

·       E. The invoice is fully or partially paid.

 

10.   In what order should the import process be run when importing suppliers?

·       A. Supplier, Supplier Site Contacts, Supplier Site, Supplier Site Assignment

·       B. Supplier, Supplier Address, Supplier Site, Supplier Site Assignments

·       C. Supplier, Supplier Site Assignment, Supplier Site, Supplier Contacts

·       D. any order

 

11.   You have an invoice for a three-month lease and wish to recognize the expense monthly for the duration of the lease.

What must be entered on the invoice in order to do this?

·       A. You must provide a start date and an end date for the prepaid expenses in the invoice lines or distributions.

·       B. You must provide a start date, an end date, and the accrual account for the prepaid expenses in the invoice lines or distributions.

·       C. You must provide a start date and the accrual account for the prepaid expenses in the invoice lines or distributions.

·       D. You must provide the accrual account for the prepaid expenses in the invoice lines or distributions.

 

12.   You created a payment and before it is cashed by the supplier you mistakenly submitted a request to stop payment. Later you canceled the request to stop payment. What is the resulting payment status?

·       A. Canceled

·       B. Stop initiated

·       C. Negotiable

·       D. Available

·       E. Voided

·       F. Cleared

 

 

 

13.   You are using the Payables Deferred Expense feature (also known as Multiperiod Accounting). You have entered an invoice for a three-month lease that is entered on Jan 10th. The total expense is $12,000 and it covers the rental period from Jan 1st to mar 31st.

Assuming that the rental expenses are split evenly per month and a monthly accounting calendar is used, what would the accounting entry be?

·       A. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000 and then On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000 On Feb 28st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000 On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000

·       B. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000

·       C. On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000 On Feb 28st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000

·       D. On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000 On Jan 10^th, Debit Rental Expense for 12,000 and Credit Cash for 12,000

 

14.   Which three reports are generated by the export setup data process? (Choose three.)

·       A. Exported Business Object Report

·       B. Process Results Report

·       C. Process Results Summary Report

·       D. Process Results Detail Listing Report

·       E. Setup Data Report

 

15.   You want your expense auditors to audit only expense reports for specific business units. How do you do this?

·       A. Create a custom duty role and assign the data roles to each audior.

·       B. Create your own audit extension rules that correspond to the business unit.

·       C. Make auditors the managers of the corresponding business unit to route expense reports properly.

·       D. Assign the expense auditors job role and business unit security context and value to the user.

 

16.   Your company policy requires that receipts be attached to expense report items before reimbursement can be made.

Which two statements are true about the association of a receipt to an expense report?

·       A. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.

·       B. An expense report may require original, imaged, or both types of receipts.

·       C. Expenses do not create payment requests for expense reports that have missing or overdue receipts.

·       D. Receipts are not required if the expense item falls within Per Diem Rates.

17.   You have a high volume of invoices to enter that have similar lines and do not require extensive validation. What must you do if you want to group multiple invoices in a batch during spreadsheet entry?

·       A. Make sure the Invoice Number is the same.

·       B. Make sure all the invoice dates are the same.

·       C. Assign the same Invoice Header Identifier to multiple invoices you want to group.

·       D. Enable the invoice option Require Invoice Grouping, and the system automatically groups invoices entered in the same spreadsheet.

·       E. Enter a value in the Invoice Group field to group similar invoices into a batch.

 

18.   You are voiding a payment and have selected Cancel as the Invoice Action. After performing the void, you notice the invoice is not cancelled but has an Invoice Cancel hold on it. What is reason for this?

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

·       B. The invoice date is not in the current open period.

·       C. The invoice is already on hold.

·       D. The invoice accounting date is not in the current open period.

 

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

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

·       B. Business units must be granted access to the bank account.

·       C. Assign a few general ledger cash accounts to multiple bank accounts to facilitate book-to-bank reconciliation.

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

·       E. Do not assign bank accounts to business units.

 

20.   Which two statements are true related to configuration package?

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

·       B. You can export and import selected business object services.

·       C. You can export and import selected business units.

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

·       E. You can export and import the allocation rules from the allocation manager.

 

21.   What is the recommendation when setting up Reconciliation Rule Sets?

·       A. One to One rules should be sequenced below rules of other types.

·       B. Many to Many rules should always be used last in the sequence.

·       C. One to One rules should be sequenced above rules of other types.

·       D. Many to Many rules should always be used first in the sequence.

 

22.   You are using both Procurement and Financials. You want the system to automatically accrue uninvoiced receipts. Select two true statements.

·       A. For period end accruals, accounting is created at material receipt or at delivery to a final destination.

·       B. For period end accruals, the invoice accounting debits the expense account and credits the liability account.

·       C. For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account.

·       D. For period end accruals, the invoice accounting for inventory items debits receipt inventory and credits the uninvoiced receipts.

 

23.   You want to route invoices to three different approvers at the same time and only one approver needs to approve the invoice. Which approval ruleset should you use?

·       A. InvoiceApproversSingleParticipantlnParallelMode

·       B. InvoiceApprovers

·       C. InvoiceApproversParallelParticipantlnParallelMode

·       D. InvoiceApproversFYIParticipantlnParallelMode

 

24.   The expense auditor has chosen to Request More Information for an expense report. Select two ways the system processes this action.

·       A. The expense report is routed back to the approvers.

·       B. The audit can be completed before the requested information is received from the employee.

·       C. The employee must resubmit the expense report.

·       D. The expense report status remains Pending Payables Approval.

 

25.   What job roles are required to access information within Functional Setup Manager?

·       A. Application Implementation Manager

·       B. Functional Setup Manager Superuser

·       C. Application Implementation Consultant

·       D. Any Functional User

·       E. IT Security Manager

 

26.   You have modified your tax setup and want to test the changes on actual Payables transactions. How do you validate before enabling for transaction?

·       A. by creating accounting in draft mode

·       B. by changing the tax status to test and then entering a payables invoice

·       C. by creating a payable invoice, and by validating and reviewing the tax application

·       D. Oracle Transactional Business Intelligence (OTBI)

·       E. by using Tax Simulator to test

 

27.   You have an invoice with a payment term that has the following settings:

• Day of Month = 15

• Cut off Day = 11

• Months Ahead = 0

• Terms Date on Invoice = January 12th

What will the resulting due date for the invoice installment be?

·       A. March 15th

·       B. January 15th

·       C. April 15th

·       D. February 15^th

 

28.   What is the difference between subject areas that append the word "Real Time" and those that do not?

·       A. The "Real Time" subject areas are based on subledger transactions and the ones that are not are based on general ledger balances.

·       B. The "Real Time" subject areas are based on real-time transactions in the applications, and those that are not, are based on data stored in the Oracle Business Intelligence Applications data warehouse.

·       C. The "Real Time" subject areas are based on real-time transactions and those that are not, are based on historical data.

·       D. There is no difference.

 

29.   Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?

·       A. Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers.

·       B. Define a Tax Status and Rate for Exempt, define a Party Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Party Fiscal Classification.

·       C. Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab.

·       D. Define a Tax Status and Rate for Exempt, define a Supplier Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification.

30.   Which component is not included in the security architecture for credit card data and bank account data encryption?

·       A. Payments master encryption key

·       B. Oracle Wallet

·       C. Payments subkeys

·       D. Sensitive data encryption and storage

·       E. Supplier master encryption key

 

31.   When creating a check payment, from where is the payment document defaulted?

·       A. Legal Entity

·       B. Back Account

·       C. Bank

·       D. Business Unit

·       E. Supplier

 

32.   The Accounts Payable Manager voided a Payment Request issued for a foreign currency invoice due to insufficient funds.

Which three statements are correct?

·       A. The process places the invoice on hold automatically.

·       B. Accounting and payment records for the invoices that were paid automatically are reversed.

·       C. Any realized gain or loss on foreign currency invoices is recorded as paid by the payment when reversed.

·       D. All related withholding tax invoices are automatically reversed.

·       E. All related interest invoices are reversed if already created.

 

33.   If you accidentally paid an invoice using Create Payment flow, can you undo the operation?

·       A. Cancel the invoice and create a new one.

·       B. yes, by creating a credit memo to offset the payment

·       C. yes, by canceling the payment process from the process monitor

·       D. no

·       E. yes, by voiding the payment created

 

34.   Identify two ways the invoice imaging solution works in the Cloud.

·       A. Customers scan the invoice on-premise and email the images.

·       B. Customers cannot use invoice imaging in the Cloud.

·       C. Customers scan and store the invoice images on-premise and attach them during invoice entry.

·       D. Customers ask their suppliers to scan and email the invoice.

·       E. Customers ask suppliers to send electronic invoices.

 

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

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

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

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

·       D. It defines when to initiate the payment approval process.

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

 

36.   Your Client is concerned that all expense reports are getting automatically approved by the expenses system despite the setup of an Audit Selection Rule.

Why is this?

·       A. The audit selection rule has not been assigned to the business unit

·       B. The audit selection rule has not been assigned in the system options page

·       C. The audit selection rule has not been assigned to the Legal Entity

·       D. Auditing has not been enabled in the system options page

·       E. An expenses template and type rule has not been setup

 

37.   The payment build program has completed but with errors.

When submitting the payment process request, which processing option is used to review the error messages from the Manage Payment Process Request Inquiry?

·       A. Set the validation failure handling for documents to "show errors".

·       B. Set the validation failure handling for payments to "show errors".

·       C. Enable debug for the payment format program.

·       D. Set the validation failure handling for payments to “stop process for review”.

 

38.   While processing an expense report, the system placed a payment hold on the expense report. What are two ways to release payment holds?

·       A. The employee can manually release the hold.

·       B. The employee’s supervisor can manually release the hold.

·       C. Payables Manager can release payment holds in Payables.

·       D. The expense auditor can manually release the payment hold at his discretion.

·       E. Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived

 

39.   You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?

·       A. Enter the invoice via a spreadsheet. Then, from the Manage Invoices page, query the invoice, validate it, create accounting, and then open general ledger’s Manage Journals page and post the associated invoice journal entry.

·       B. Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.

·       C. Enter and post a manual journal entry directly into the general ledger.

·       D. Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.

 

40.   You need to create a payment for a supplier before the next payment run. The invoice you wish to pay is not available for selection in the Create Payment page.

Which two are possible reasons for this? (Choose two.)

·       A. The payment supplier site is different to the supplier site on the invoice.

·       B. The invoice is not yet due.

·       C. The invoice is not validated.

·       D. The payment method for the invoice is Electronic.

·       E. The invoice is not accounted.

 

41.   An invoice for $1,000 USD and a credit memo for ($1,100) USD are due for payment. What are the two outcomes if you choose the "Apply Credits Up to Zero Amount" option when submitting a Payment Process Request?

·       A. Only the invoice is paid fully but the credit memo is partially paid with a credit of ($100) USD remaining.

·       B. Both the invoice and the credit memo are fully paid.

·       C. Neither the invoice nor the credit memo is included in the Payment Process Request.

·       D. Both the invoice and the credit memo are included in the Payment Process Request.

 

42.   Your client company wants to ensure that the payments they are sending to their financial institution are valid and formatted correctly. They would like to identify any validation failures as early in the process as possible. Where would you suggest the validations are set?

·       A. Supplier Site

·       B. Payment Method

·       C. Payment Format

·       D. Payment Terms

·       E. Disbursement Bank Account

 

 

43.   An installment meets all the selection criteria of a Payment Process Request, but it still does not get selected for payment processing.

What are the two possible reasons for this?

·       A. The pay-through date is in a closed Payables period.

·       B. The invoice has not been accounted.

·       C. The invoice requires approval.

·       D. The pay-through date is in a future period.

·       E. The invoice needs re-validation.

 

44.   How will system evaluate the tolerances for expense reports?

·       A. System will use absolute amount tolerance setup to do validations.

·       B. System will calculate error tolerance as (|Policy Rate * (1+Error Tolerance/100|) currency precision.

·       C. System will calculate error tolerance as Policy Rate * (1 + Warning Tolerance + Error Tolerance/100).

·       D. System will calculate warning tolerance as Policy Rate * (1 + Warning Tolerance/100)* currency precision.

·       E. System will calculate warning tolerance as Policy Rate * (1+ Warning Tolerance/100).

 

45.   Which three are subject area subfolders that report Payables reconciliation differences to General Ledger? (Choose three.)

·       A. Reconciliation Payment Details

·       B. Reconciliation Prepayment Application Details

·       C. Reconciliation Invoice Details

·       D. Reconciliation Invoice Hold Details

·       E. Reconciliation Invoice Request Details

 

46.   Which two statements are true about processing corporate card expenses?

·       A. Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses.

·       B. You can process payment for credit card using Electronic funds transfer, check, or wire.

·       C. Usage policy for expense category tolerances does not apply to credit card expenses.

·       D. Conversion rate defaults apply only to cash expenses, not to corporate card expenses.

·       E. Card transactions will be paid directly from Expenses Cloud.

 

47.   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. 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.

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

·       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.

 

48.   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 invoices liability amount across the same balancing segments on the invoice distributions?

·       A. Suspense Accounts

·       B. Subledger Accounting’s Account Rules

·       C. Intercompany Balancing

·       D. Payables’ Automatic Offset

·       E. Payables’ Allow Reconciliation Accounting

 

49.   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?

·       A. Run the process Transfer Intercompany transactions to Receivables and Transfer Intercompany transaction to Payables.

·       B. For the Legal Jurisdiction, Legal function "Generate intercompany invoice" should be assigned.

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

·       D. Manual Approvals should be allowed for the transaction type.

·       E. Schedule create accounting for the intercompany process.

·       F. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.

 

50.   A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?

·       A. Manage Invoice Options and Manage common options for Payables and Procurement

·       B. Manage Payable Options and Manage Invoice Options

·       C. Manage Invoice Options and Manage Procurement agents

·       D. Manage common options for Payables and Procurement and Manage Procurement agents

·       E. Manage Payment Options and Manage common options for Payables and Procurement

 

51.   You need to create a recurring expense for one of your regular expenses.

Which three are frequencies that you can choose for these types of expenses? (Choose three.)

·       A. Weekly

·       B. Monthly

·       C. Bimonthly

·       D. Biweekly

·       E. Annually

 

52.   An Office supplies company requires an advance payment of $8000 for the office supplies you wish to order. You enter and pay a prepayment type invoice for $8000. You enter the standard invoice to book the expense which totals $10000 and you apply the prepayment to the standard invoice.

What are the accounting entries for that standard invoice with the prepayment application?

·       A. Invoice accounting – Dr Prepayment Account 10000 Cr AP Liability Account 10000.The prepayment application has no impact on the Invoice.

·       B. Invoice accounting – Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application – Dr AP Liability 8000 Cr Prepayment Account 8000.

·       C. Invoice Accounting – Dr Prepayment Account 10000 Cr AP Liability Account 10000.Prepayment application – Dr Expense Account 8000 Cr Prepayment Account 8000.

·       D. Invoice accounting – Dr Expense Account 10000 Cr AP Liability Account 10000.

 

53.   You entered an invoice of 12,000 and paid it for Office Suppliers. The payment was never received by the supplier, and you decide to return the entire order. What should you do?

·       A. Cancel the invoice, which debits the liability and credits the expense.

·       B. Issue a credit memo, which will debit the liability and credit the expense.

·       C. Void the payment, which debits cash and credits the liability, and then issue a credit memo, which debits the liability and credits the expense.

·       D. Void the payment, which debits cash and credits the liability, and then cancel the invoice, which debits the liability and credits the expense.

 

54.   An installment for $1,000 USD is due for payment on January 10, 2019. The installment has two discounts: the first discount date is December 5, 2018 for $150 USD and the second discount date is December 20, 2018 for $50 USD. The Pay Date Basis on the supplier site is Discount.

You submit a Payment Process Request with the following criteria:

Payment Date = December 5, 2018

Pay Through Date = December 25, 2018

Date Basis = Pay Date

Always Take Discount option is enabled

What will be the resulting status of the installment and discount?

·       A. The installment is selected and a discount of $50 USD (the second discount) is applied.

·       B. The installment is selected and a discount of $200 USD ($150 + $50) is applied.

·       C. The installment is selected and a discount of $150 USD is applied because the Always Take Discount option was enabled.

·       D. The installment is selected but no discount is applied because the payment date is after the discount dates.

·       E. The installment is not selected because the first discount date is before the Pay Through Date.

 

55.   Which two statements are true when you are using the Intercompany Reconciliation Reports?

·       A. You must run the prepare Intercompany Reconciliation Reporting Information process.

·       B. 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.

·       C. The reports will show the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.

·       D. The reports will include Ledger balancing lines 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.

·       E. You can drill down on the links in the Period Summary report to view the balances by Intercompany Organization.

 

56.   Your client company has two business units and requires the Payables Specialist to process invoice transactions for both business units. What setup is required to achieve this?

·       A. a Self-Service Service Provider Model

·       B. a Dedicated Service Provider model

·       C. Business Unit Security

·       D. a Dedicated and Self-Service Service Provider Model

 

57.   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?

·       A. The accounting dates of all unaccounted invoices will change to February 28, 2016, the last day of the next period.

·       B. The accounting dates of all unaccounted invoices will remain unchanged at January 20,2016.

·       C. The accounting dates of all unaccounted invoices will be changed to February 1,2016, the first day of the next period.

·       D. The accounting dates of all unaccounted invoices will be changed to February 20,2016, the same day of the next period.

 

58.   You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?

·       A. Needs Revalidation

·       B. Not Validated

·       C. Not Required

·       D. Imported

·       E. Validated

 

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

·       A. Manage Invoices page

·       B. C-level executives

·       C. Invoices Workarea only

·       D. Payables Dashboard only

·       E. Payables Dashboard and Invoices Workarea

 

60.   Which attributes on the payables invoice can be used during approval rule creation?

·       A. company and cost center segment only

·       B. cost center segment and supplier only

·       C. supplier only

·       D. company segment, cost center segment, supplier, and Attribute 1 on the invoice line

 

61.   Which method can you use to route payment approval rules?

·       A. Approval Groups

·       B. Sequential

·       C. Both Parallel and Sequential

·       D. Parallel

·       E. Serial and FYI (For Your Information)

 

62.   You have two business units: Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?

·       A. Assign the Expense Auditor as the owner of each business unit on the Manage Business Unit Set Assignments page.

·       B. Assign the Expense Auditor job role to each auditor and associate the business unit to the role by using the Manage Data Access for Users page.

·       C. Assign the Expense Auditor job role to each auditor and use segment value security rules to secure access to the business units.

·       D. Assign the Expense Auditor job role to each auditor and use a data access set to associate the business unit to the role.

 

63.   Select three reasons why you cannot close your Payables period.

·       A. suppliers on payment holds

·       B. bills payable requiring maturity

·       C. unapplied prepayments

·       D. open intercompany transactions

·       E. unaccounted invoices and payments

 

64.   An installment for $2,000 USD is due for payment on July 31, 2016. The installment has two discounts: the first discount date is June 15, 2016 for $150 USD and the second discount date is June 30, 2016 for $50 USD.

You submit a Payment Process Request with the following criteria:

– Payment Date = June 20, 2016

– Pay Through Date = July 30, 2016

– Date Basis = Due Date

What will be the resulting status of the installment and discount?

·       A. The installment is selected and a discount of $150 is availed.

·       B. The installment is, selected and a discount of $100 is availed.

·       C. The installment is NOT selected because the due date is later than the Pay Through Date.

·       D. The installment is selected and no discount is availed.

·       E. The installment is NOT selected because the discount dates are before the Pay Through Date.

 

65.   Your customer has implemented English as base language and French as a local language. The customer's bank needs the payment file to be sent to them in French. What is the relevant step to do this for preparing the payment template?

·       A. Create your template in English language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with country locale.

·       B. Create your template in the local language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with English locale.

·       C. Create your template in the local language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region. Use English locale and generate the XLIFF file. Then upload the file back under the translated region.

·       D. Create your template in English language, then upload it to Business Intelligence (BI) under the custom/payment folder, under the templates region. Use English locale and generate the XLIFF file. Then upload the file back under the translated region.

 

66.   Which statement is true about selecting a bank account on the Create Payment page?

·       A. Bank account must match the supplier’s bank account.

·       B. There is not relationship between the business unit, bank, and LE. Users can pick any bank account that is setup in their system

·       C. LE on the bank account should be different from the LE on the invoice.

·       D. LE on the bank account should be equal to LE on the invoice.

·       E. Users can pick any bank account as long as the bank account is tied to the business unit.

 

67.   When submitting the Payables to General Ledger Reconciliation report, the extract did not select any data. What should you check?

·       A. Make sure you assign an Account parameter when running the extract to include liability account.

·       B. Make sure you assigned a Financial Category of Accounts Payable to all your liability natural account values.

·       C. Make sure you enabled the Reconciliation flag to all of your liability natural account values.

·       D. Make sure you specified a Business Unit in the parameters when running the extract.

 

68.   You have three procurement business units, four requisition business units and five sold-to business units. For which will the supplier registration flows be deployed?

·       A. one business unit per supplier

·       B. four requisition business units

·       C. three procurement business units

·       D. five sold-to business units

·       E. twelve business units per supplier

 

69.   Your company policy requires imaged receipts for expense reports.

Which two statements are true about the association of a receipt to an expense report?

·       A. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.

·       B. Receipts are not required if the expense item falls within Per Diem Rates.

·       C. Employees are not reimbursed for expense report expenditures until missing or overdue imaged receipts are submitted.

·       D. An expense report may require original, imaged, or both types of receipts.

 

70.   You have created an approval rule as follows:

Rule 1: If the invoice amount > $1000, route it to User 1.

Rule 2: If the invoice amount < $1000, auto approve it.

Now, the user creates an invoice for $1000 and routes it for approval. What will happen?

·       A. Invoice will not be processed.

·       B. The system will issue an error message after the approval has been initiated.

·       C. Invoice will be sent to User 1 for approval.

·       D. Invoice will be auto-approved.

 

71.   Which three are attributes that are recognized by Invoice Imaging?

·       A. Terms Date

·       B. Payment Method

·       C. Invoice Date

·       D. PO Number

·       E. Invoice Number

 

72.   You purchased a computer from Company A for 2000 USD. Company B ships you the computer with freight charges of 100 USD. You would like the cost of the computer to include those freight charges. How can you achieve this?

·       A. Choose Match to Receipt.

·       B. Enter the Invoice manually and add the freight line.

·       C. Choose to Match to Receipt Charges.

·       D. Choose to Match to Invoice Lines.

·       E. Choose to Match in full to the Purchase Order.

 

73.   A Bill Payable document was paid but has not yet matured.

What is the status of the payment?

·       A. In Transit

·       B. Cleared

·       C. Negotiable

·       D. Issued

 

74.   Which three types of payments can you make if you have access to Disbursement Process Management Duty?

·       A. Supplier payments

·       B. Ad hoc payments

·       C. Employee advances

·       D. Customer refunds

·       E. Reimbursement of employee expense reports

 

75.   Your Company Plans to system generate interest invoices whenever they pay invoices to suppliers, late. What two actions must you perform to set up this feature?

·       A. Enable create interest invoices in payables and for selected suppliers

·       B. Nothing. By default, interest invoices are created for all overdue invoices when paid late

·       C. Enable create interest invoices and specify a minimum interest amount. If the calculated interest is more than this amount, then an interest invoice is created

·       D. Enable create interest invoices for the supplier and assign an interest expense & liability account used for invoices by the supplier.

 

76.   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?

·       A. Transfer the data to General Ledger.

·       B. Create Accounting for the invoice in Payables.

·       C. Validate the invoice in Payables.

·       D. Create a payment process request in Payments.

 

77.   What is the invoice type of an unapproved, unmatched invoice that was created in Fusion Supplier Portal?

·       A. iSupplier Invoice

·       B. Credit Memo

·       C. Standard Invoice

·       D. Standard invoice request

·       E. Supplier payment request

 

78.   Which three are Invoice Header attributes that can be used during invoice approval rule creation? (Choose three.)

·       A. Business Unit Name

·       B. Pay Group Lookup Code

·       C. Statistical Amount

·       D. Requester Name

·       E. Accounting Date

 

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

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

 

80.   You want to customize the Payables Invoice Register template to only display invoices when the Supplier name is Company A. Supplier name is a group that repeats on every page.

Which is the correct way to customize the template?

·       A. Insert the syntax <?if:’COMPANY A’?> before the Supplier field and then enter the closing tag </<?if: COMPANY A?> after the invoices table.

·       B. Insert the syntax <?if:VENDOR_NAME=’COMPANY A’?> before the Supplier field on the template. Then, enter the <?end if?> tag after the invoices table.

·       C. Hard code Supplier Name "Company A" in the report template and only invoices for that supplier will be displayed.

·       D. Insert the syntax <?if: condition?> before the Supplier field and then enter the closing tag </<? if: condition?>.

 

81.   Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?

·       A. The purchase order payment term cannot be overridden.

·       B. The user needs to manually change the payment term on the invoice to match the purchase order payment term.

·       C. The user needs to specify which payment term to use.

·       D. The payment term of the invoice overrides the purchase order payment term.

·       E. The payment term of the purchase order overrides the invoice payment term.

 

82.   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. A payment with the status of Issued.

·       B. A payment that has already cleared the bank.

·       C. A payment for an invoice with an associated Withholding Tax invoice.

·       D. A payment that has been accounted and posted to General Ledger.

·       E. A payment that pays a prepayment that has been applied to an invoice.

 

83.   What is the result of voiding a payment?

·       A. The payment is reconciled to the bank statement.

·       B. The payment is no longer valid for payment.

·       C. A stop payment request has been initiated to the bank.

·       D. A bills payable payment was created but is not yet matured

 

84.   You need to submit a 1099 report; your State format has changed slightly since last year. How should you submit your 1099s for the State in the current year?

·       A. Run and submit your 1099s because it will automatically reflect any changes.

·       B. Edit the 1099 template to reflect the changes, and then run and submit the 1099 report.

·       C. Generate a 1096 form and submit it instead.

·       D. Manually enter the 1099s for the State and submit.

 

85.   Which reporting tool is used to report on real-time data?

·       A. Essbase Cube

·       B. Smart View

·       C. Oracle Business Intelligence Publisher

·       D. Oracle Financial Reporting Studio

·       E. Oracle Transactional Business Intelligence (OTBI)

 

86.   What data can you find in an Oracle Transactional Business Intelligence subject area attribute column?

·       A. values that are organized into parent-child relationships

·       B. data that is metric and can be added up or aggregated

·       C. information about a business object with values that are dates, Ids or text

·       D. data that provides a measure of something

 

87.   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. Configure Subledger Accounting rules to allocate costs.

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

·       C. Choose the ‘All Lines’ option from the Allocate menu in the invoice line area.

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

 

88.   Which three are invoice types that can be entered using the Supplier Portal? (Choose three.)

·       A. Invoices that are automatically created when the supplier creates an ASN for drop shipments

·       B. B2B XML invoices

·       C. Non purchase order matched invoices

·       D. Invoices that are created from the Evaluated Receipt Settlement (ERS) process

·       E. Purchase order matched invoices

 

89.   Which invoice types can be included in the Create Payment flow?

·       A. Standard, Credit Memo and Debit Memo

·       B. Standard, Credit Memo, and Invoice Request

·       C. Standard, Credit Memo and Customer Refund

·       D. Standard, Debit Memo and Customer Refund

 

90.   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?

·       A. The invoices are placed on payment hold.

·       B. The status of each payment in the payment file is Terminated.

·       C. The status of the payment file is Terminated.

·       D. The status of each payment in the payment file is Cancelled and the related documents are available for future selection.

·       E. The status of the payment file is Cancelled.

 

91.   Which two statements are true about the Invoice Validation process? (Choose two.)

·       A. opens the relevant accounting period

·       B. validates project information

·       C. updates supplier balances

·       D. creates tax lines and distributions

·       E. creates accounting entries in draft

 

92.   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?

·       A. You did not define conversion rates for your business unit.

·       B. You did not specify a default expense template.

·       C. Only cash transactions use those settings.

·       D. You did not define conversion rates in the General Ledger Cloud.

 

93.   Which job role has full access to perform all Functional Setup Manager related activities?

·       A. Application System Administrator

·       B. Any Functional User

·       C. Functional Setup Manager Superuser

·       D. IT Security Manager

·       E. Application Implementation Consultant

 

94.   Your customer matches their invoices to a purchase order and have noticed that the payment terms are defaulting from the order. For some suppliers, they would like to use the payment terms from the supplier site. How can the customer achieve this?

·       A. Enter the payment terms in the Manage Payment Options page so they default onto the invoice.

·       B. Enter the payment terms at the Supplier level so they default onto the invoice.

·       C. Enter the payment terms at the supplier site level so they default onto the invoice.

·       D. Manually override the payment terms that have defaulted from the purchase order for those suppliers.

·       E. Enter the payment terms in the Manage Invoice Options page so they default onto the invoice.

 

 

 

 

95. Which two setups are required to ensure the same tax is applied on both intercompany payable and receivable invoice?
A. Payable options are receivable system options should have same tax application options.
B. Tax for intercompany is to be loaded using Create Taxable Transactions in Spreadsheet.
C. First enter Payable transaction to calculate tax and then for Receivable Transaction.
D. You should check if any specific rules defined should cover both Sales_transaction and purchase_transaction business category.
E. Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.

Answer:

 

D E

References:

While copying the Receivable transaction information to the Payables interface tables, the transaction business category of SALES_TRANSACTION available on the Receivables transaction is replaced with PURCHASE_TRANSACTION. If there are any specific tax rules driven based on the transaction business category, you must configure them for both Receivables and Payables transactions.

To apply the same tax on the Payables transaction that is calculated on the Receivables transaction, ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.

 

96.Select three statements about the submission of invoices by suppliers using Supplier Portal.

Select three statements about the submission of invoices by suppliers using Supplier Portal.
A. A supplier can submit a single invoice against multiple purchase orders across different currencies and organizations.
B. A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed.
C. A supplier can validate the invoice after submitting it.
D. A supplier can submit a single invoice against multiple purchase orders, provided the currency and organization for all the invoice items are the same as those on the purchase orders.
E. A supplier cannot make changes to the invoice after submitting it.

 

97.You are resolving payment validation errors during the payment build process. Which two actions can you perform to resolve these errors?

A. Run the create accounting program.

B. Run the invoice validation program.

C. Remove the documents or payments causing the error and resume the payment process.

D. Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.

E. Terminate the payment process request.

 

Answer: D & E

In the Resolve Payment Validation Errors page, you can perform the following actions to resolve payment validation errors:
- Remove payments from the payment process request.
- Remove documents payable from the payment process request.
- Terminate the payment process request.
- Change the setup of remittance bank accounts, third party payees, payment methods, or payment formats

 

 

98. In what order should the import process be run when importing suppliers?

A. any order

B. Supplier, Supplier Site, Supplier Site Contacts, Supplier Site Assignments

C. Supplier, Supplier Site Contacts, Supplier Site, Supplier Site Assignment

D. Supplier, Supplier Site Assignment, Supplier Site, Supplier Contacts

 

Answer: B

 

99. Your company wants to generate intercompany transactions in USD but only if the amount involved is
$3,000 USD or more. Which two intercompany system options are valid?

A. You cannot update the minimum transaction currency when intercompany currency is entered.B. Set the intercompany system option minimum transaction amount of $3,000 USD.

C. Intercompany invoices will be generated for the minimum accountable amount set at the payable invoice options and receivable system options.

D. Approval rules need to set the allow of the intercompany transactions to be routed to the receiver or provider.

E. Set the intercompany system option minimum transaction amount to $2,999.99 USD.

 

Answer: A and B

 

Exp: If you select an Intercompany currency, that currency is defaulted into the Minimum Transaction Currency field. It overwrites any other currency in that field and the field cannot be updated.

 

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

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

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

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

·       D. It defines when to initiate the payment approval process.

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

 

 

 

1.Which two setups are required to ensure the same tax is applied on both intercompany payable and receivable invoice?

 

A.  Payable options are receivable system options should have same tax application options.

B.  Tax for inter-company is to be loaded using Create Taxable Transactions in Spreadsheet.

C.  First enter Payable transaction to calculate tax and then for Receivable Transaction.

D.  You should check if any specific rules defined should cover both Sales_transaction and purchase_transaction business category.

E.   Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.

 

 

2.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.

 

A.  Customize the Subledger Accounting rules to allocate costs.

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

C.  Enter the invoice in Payables and then use general ledger’s Calculation Manager to allocate the costs.

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

 

 

 

The expense auditor has chosen to Request More Information for an expense report.

Select two ways the system processes this action.

A. The expense report is routed back to the approvers.

B. The employee must reply to the notification before the reimbursement process can continue.

C. The employee must resubmit the expense report.

D. Theexpense report status remains Pending Payables Approval.