Oracle Accounts Payable (AP) Dumps

 

Oracle Financials Cloud: Payables 2021 Implementation Essentials

Oracle-1z0-1055 Oracle Fusion Cloud Payables  2021 Implementation Essentials055-21

Total Questions: 55

https://dumpsarena.com

sales@dumpsarena.com

QUESTION NO: 1

There are four key reports in Cash Management.

What is the correct match for each report and its description?

Report

1. Cash to General Ledger Reconciliation Report

2. Bank Statement Report

3. Cash in Transit Report

4. Bank Statement Analysis Report

Description

E. Lists all transactions for a specific bank account, that have been remitted to the bank but have not been cleared. F. Displays the bank statements that are used to analyze balances and transaction details. G. Displays balance and transaction information for specific bank statements.

H. Lists bank statement transactions that are accounted in GL but are not reconciled in Cash Management. A. 1 = H, 2 = G, 3 = E, 4 = F

B. 1 = E, 2 = G, 3 = H, 4 = F

C. 1 = H, 2 = F, 3 = E, 4 = G

D. 1 = H, 2 = E, 3 = G, 4 = F

E. Lists all transactions for a specific bank account, that have been remitted to the bank but have not been cleared. F. Displays the bank statements that are used to analyze balances and transaction details. G. Displays balance and transaction information for specific bank statements.

H. Lists bank statement transactions that are accounted in GL but are not reconciled in Cash Management.

ANSWER: C

Explanation:

Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/ocuar/oracle-fusion-cash-management reports.html#OCUAR1440972

QUESTION NO: 2

 Page 2 of 26

Which two are classified as Self-Billed invoices? (Choose two.)

A. Customer Refunds initiated from Receivables

B. Evaluated Receipt Settlement (ERS) Invoices

C. Invoices created using Integrated Imaging

D. Expense Reports transferred from Expenses

E. Debit Memos created by the Return to Supplier feature

F. Invoices entered through the Supplier Portal

ANSWER: B F

Explanation:

Select ERS and Use in the Transaction source parameter when running the Pay on Receipt Auto-invoice concurrent program.

You enable paying your supplier by selecting a method on the Purchasing tab of the Supplier Sites window in Oracle Payables. Reference: https://docs.oracle.com/cd/E26401_01/doc.122/e48822/T260819T260826.htm

QUESTION NO: 3

Which two invoice types can have a status of Incomplete? (Choose two.)

A. Supplier Portal Invoices which are rejected and resubmitted for approval

B. Scanned Invoices with incomplete or missing information

C. Scanned Invoices which are rejected during import

D. Prepayment Invoices which are fully paid but not applied against any invoice

E. Supplier Portal Invoices which are saved but not yet submitted

ANSWER: A B

Explanation:

As a Supplier user, you can now edit and resubmit invoices that are rejected from the approval users during the invoice request approval process. An incomplete invoice is an invoice created from an image that has invalid or missing information.

Reference: https://docs.oracle.com/en/cloud/saas/financials/21c/fappp/invoices.html#FAPPP114315QUESTION NO: 4

 Page 3 of 26

You are evaluating the predefined expense report approval rules within your test environment to see if they meet current business requirements.

Which three rule sets are part of the predefined setup? (Choose three.)

A. Approval by Cost Centre owners in parallel or serial mode

B. Approval by supervisor based on expenses type amount

C. Approval by Project Manages in parallel or serial mode

D. Approval by supervisor based on report amount

E. Approval by a Group based on report amount in parallel or serial mode

ANSWER: A C D

Explanation:

Approval by cost center owners in parallel mode

Approval by cost center owners in serial mode

Approval by project managers in parallel mode

Approval by project managers in serial mode

Approval by supervisor based on report amount

Reference: https://docs.oracle.com/cd/E15586_01/fusionapps.1111/e20375/F569964AN58859.htm

QUESTION NO: 5

In which two ways does the invoice imaging solution work in the cloud? (Choose two.)

A. Customers ask suppliers to send electronic invoices.

B. Customers ask their suppliers to scan and email the invoice.

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

E. Customers cannot use invoice imaging in the Cloud.

ANSWER: B D

QUESTION NO: 6

 Page 4 of 26

You are testing the Payables to General Ledger Reconciliation report at the ledger level for your UK Ledger, you have run and selected the extract for the report but the request returned the message no data to display.

What is the reason for this?

A. You did not specify the range of liability accounts to include in the extract.

B. The reconciliation flag has not been enabled for your liability accounts.

C. The financial category of Accounts Payable is not assigned to the liability accounts.

D. You did not select the business units associated to the UK Ledger.

ANSWER: C

QUESTION NO: 7

A company is centralizing their payment processing using the service provider model.

Which reporting level has to be used to run the Prepare Payables to General Ledger Reconciliation report? A. Run the Prepare Payables to General Ledger Reconciliation report at Ledger level.

B. Run the Prepare Payables to General Ledger Reconciliation report at Business Unit level.

C. Running the Prepare Payables to General Ledger Reconciliation report is NOT available when there is a centralized payment processing.

D. Run the Prepare Payables to General Ledger Reconciliation report for combination of Ledger and Balancing Segment Value.

ANSWER: B

Explanation:

Business unit if you implemented centralized payment processing using the service provider model. Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/fappp/accounts-payable-balances.html#FAPPP444518

QUESTION NO: 8

A Payables supervisor wants to apply a prepayment to an invoice.

Which combination of invoice and payment currencies allow the application of a prepayment to an invoice?

A. Standard Invoice: Invoice Currency USD, Payment Currency GBP Prepayment: Invoice Currency USD, Payment Currency AUD

B. Standard Invoice: Invoice Currency USD, Payment Currency USD Prepayment: Invoice Currency CAD, Payment Currency CAD

 Page 5 of 26

C. Standard Invoice: Invoice Currency CAD, Payment Currency GBP Prepayment: Invoice Currency USD, Payment Currency AUD

D. Standard Invoice: Invoice Currency USD, Payment Currency CAD Prepayment: Invoice Currency CAD, Payment Currency CAD

ANSWER: A

Explanation:

You can pay a prepayment in a currency that's different from the invoice currency. To apply that prepayment to an invoice, the invoice must have the same invoice currency as the invoice currency of the prepayment.

Reference: https://docs.oracle.com/en/cloud/saas/financials/21a/fappp/invoices.html#FAPPP421516

QUESTION NO: 9

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 the reasons for this? (Choose two.)

A. The payment method for the invoice is Electronic.

B. The invoice is not yet due.

C. The invoice is not validated.

D. The payment supplier site is different to the supplier site on the invoice.

E. The invoice is not accounted.

ANSWER: B C

QUESTION NO: 10

Which component is not included in the security architecture for credit card data and bank account data encryption? A. Payments master encryption key

B. Payments subkeys

C. Supplier master encryption key

D. Sensitive data encryption and storage

E. Oracle Wallet

ANSWER: C

 Page 6 of 26

QUESTION NO: 11

You have evaluated the use of Oracle Maps Cloud service with Expenses for mileage calculation. The decision is to use this feature.

How do you enable the feature?

A. Set the profile option ORA_EXM_ORACLE_MAPS to yes at the site level.

B. Set Enable Oracle Maps to yes in the expense mileage policies.

C. Set Enable Oracle Maps to yes in the expense report template.

D. Set Enable Oracle Maps to yes in the expenses system options.

ANSWER: B

Explanation:

Create a mileage policy, optionally include a commute deduction rule, and then assign the mileage policy to an expense type to activate the policy.

Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faiex/implementing-expenses.pdf

QUESTION NO: 12

Which three options are available to filter data when you submit the Prepare Payables to Ledger Reconciliation report? (Choose three.)

A. Ledger Set

B. Supplier

C. Balancing Segment Value

D. Business Unit

E. Natural Account

F. Legal Entity

ANSWER: A C D

Explanation:

Typically General Ledger users are secured by data access sets. Data access sets use primary balancing segment values to secure access to ledgers, ledger sets, and portions of ledgers. Payables users are secured by business units.

For the Payables to General Ledger Reconciliation report:

 Page 7 of 26

General Ledger users can see general ledger data for the balancing segment values in their data access set. General Ledger users can also see the Payables or Oracle Fusion Subledger Accounting data for all business units linked to the ledger.

Payables users can see the Payables and Subledger Accounting data for business units in their security definition. Payables users can also see general ledger data for all balancing segment values in the ledger.

Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/ocuar/oracle-fusion-payables-reports.html#OCUAR444681

QUESTION NO: 13

Which two tools can you use to build layouts for BI Publisher reports? (Choose two.)

A. Report Developer

B. BI Composer

C. Template Builder for Word

D. Layout Editor

E. BI Answers

ANSWER: A D

Explanation:

Oracle BI Publisher report development requires specialist developer resources to build / modify the XML layout designs. layout editor – Helps you to easily create report layouts directly in a web browser or with familiar desktop tools, such as Microsoft Word, Microsoft Excel, or Adobe Acrobat.

Reference: https://www.enginatics.com/blog/how-to-quickly-create-or-modify-oracle-e-business-suite-bi-publisher-based reports/ https://dataterrain.com/advantages-of-oracle-bi-publisher/

QUESTION NO: 14

Your client wants to retrieve values for the account code based on the invoice line description. For example, Invoice Line Description = Laptop then Account Code = 5670.

Which Subledger Accounting option would you use to achieve this?

A. Mapping Set

B. Description Rule

C. Supporting References

D. Event Class Settings

E. Transaction References

 Page 8 of 26

ANSWER: B

Explanation:

If you're matching to a purchase order and don't enter a value, the import process uses the item description from the purchase order line.

Reference: https://docs.oracle.com/en/cloud/saas/financials/21a/fappp/invoices.html#FAPPP592120

QUESTION NO: 15

You use corporate cards with expenses and have implemented the Company Pay payment option. An employee incurred the following expenses.

What is the resulting payment amount made to the employee for these expenses?

Payment Method	Amount
Cash Business Expenses	500
Corporate Card Business Expenses	650
Corporate Card Personal Expenses	299

 

 

A. 1449

B. 201

C. 949

D. 500

ANSWER: C

Explanation:

Company Pay: Your company pays the corporate card issuer for all transactions.

Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faiex/credit-card-data.html#FAIEX166577

QUESTION NO: 16

Certain suppliers that your customer regularly deals with are exempt from tax.

How should 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.

 Page 9 of 26

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.

ANSWER: D

QUESTION NO: 17

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

A. Expenses automatically releases holds when receipts are received or waived.

B. The employee can manually release the hold from the notification.

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

D. The employee's supervisor can manually release the hold from the notification.

E. Payables Manager can release payment holds in Payables.

ANSWER: A C

QUESTION NO: 18

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' Automatic Offset

B. Payables' Allow Reconciliation Accounting

C. Subledger Accounting's Account Rules

D. Intercompany Balancing

E. Suspense Accounts

ANSWER: A

 Page 10 of 26

QUESTION NO: 19

An installment for $2,000 USD is due for payment on July 31, 2019. The installment has two discounts: the first discount date is June 15, 2019 for $150 USD and the second discount date is June 30, 2019 for $50 USD.

You submit a Payment Process Request with the following criteria:

• Payment Date = June 20, 2019

• Pay Through Date = July 30, 2019

• Date Basis = Due Date

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

A. The installment is selected and a discount of $50 USD is applied.

B. The installment is not selected because the discount dates are before the Pay Through Date. C. The installment is selected and a discount of $150 USD is applied.

D. The installment is selected and no discount is applied.

E. The installment is not selected because the due date is after the Pay Through Date.

ANSWER: E

QUESTION NO: 20

A company has a requirement to default the disbursement bank account when submitting a Payment Process Request. Which two actions will accomplish this? (Choose two.)

A. Define the Disbursement Bank Account in the Payment tab at the supplier site level.

B. Create a Payment Process Request template that includes the Disbursement Bank Account. C. Assign the Disbursement Bank Account to users to have the payment process default the bank account. D. Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account. E. Define the Disbursement Bank Account to the Payment Method in payment default rules.

ANSWER: B D

QUESTION NO: 21

You need to route invoices to three different approvers at the same time, and only one approver needs to approve the invoice.

 Page 11 of 26

Which approval ruleset should you use?

A. SingleTypeParticipantInParallelModeRuleSet

B. FyiTypeParticipantInParallelModeRuleSet

C. InvoiceApprovalRuleSet

D. ParallelTypeParticipantInParallelModeRuleSet

ANSWER: D

QUESTION NO: 22

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

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

B. any order

C. Supplier, Supplier Address, Supplier Site, Supplier Site Assignments

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

ANSWER: C

QUESTION NO: 23

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 be auto-approved.

B. The workflow will fail once approval is initiated.

C. The initiate option is greyed out for the invoice.

D. Invoice will be sent to User 1 for approval.

ANSWER: B

 Page 12 of 26

QUESTION NO: 24

The Government has introduced a new reduced tax recovery rate for certain services. You need to amend the configuration for your current tax regime to reflect this change.

Which three setups will you need to complete? (Choose three.)

A. Setup a new tax

B. Setup a new tax rate

C. Setup a new recovery rate

D. Setup a new tax rule

E. Setup Determining Factor and Condition Sets

F. Setup a new status

ANSWER: B D F

Explanation:

Set up details for the taxes of a tax regime. Each separate tax in a tax regime includes records that are used to calculate and report on the tax, including: Tax statuses

Tax rates

Tax rules

Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faitx/tax-configuration.html#FAITX1843284

QUESTION NO: 25

You have enabled Payment Approval for your payment process requests (PPR).

At what stage of the PPR is the payment approval process automatically triggered?

A. Review Proposed Payments

B. Review Installments

C. Create Payment Files

D. Build Payments

ANSWER: C

Explanation:

Reference: https://support.oracle.com/knowledge/Oracle%20Cloud/2614860_1.html

 Page 13 of 26

QUESTION NO: 26

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. Create a payment process request in Payments.

B. Create Accounting for the invoice in Payables.

C. Validate the invoice in Payables.

D. Transfer the data to General Ledger.

ANSWER: C

QUESTION NO: 27

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

A. Oracle Business Intelligence Publisher

B. Smart View

C. Oracle Transactional Business Intelligence (OTBI)

D. Oracle Financial Reporting Web Studio

E. Essbase Cube

ANSWER: C

QUESTION NO: 28

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

A. Supplier payments

B. Customer refunds

C. Ad hoc payments

D. Employee advances

E. Reimbursement of employee expense reports

ANSWER: B C D

 Page 14 of 26

QUESTION NO: 29

In the Business Intelligence Publisher (BIP) report layout properties page, when you click Extract Translation, the BIP publisher extracts the translatable strings from the BIP report template and exports them into which format?

A. .doc (Word file)

B. .pdf (Acrobat reader file)

C. .xls (Excel file)

D. .xlf (XLIFF file)

ANSWER: D

Explanation:

BI Publisher extracts the translatable strings from the template and exports them to an XLIFF (.xlf file). Reference: https://docs.oracle.com/cd/E29542_01/bi.1111/e22255/translations.htm#BIPAD377

QUESTION NO: 30

A Payables user creates a manual invoice and a Withholding Tax Classification Code defaults on the invoice line when the invoice is saved.

Where does this Withholding Tax Classification Code default from?

A. From the Party Tax Profile of the Third Party Site

B. From the Manage Tax Reporting and Withholding Tax Options

C. From the Income Tax region of the Supplier

D. From the Site Assignments of the Supplier Site

ANSWER: B

Explanation:

Set withholding tax options on the Manage Tax Reporting and Withholding Tax Options page and on the supplier setup. Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faipp/payables-tax-and-withholding.html#FAIPP206035

QUESTION NO: 31

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

• Day of Month = 15

 Page 15 of 26

• 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. February 15th

B. March 15th

C. January 15th

D. April 15th

ANSWER: A

QUESTION NO: 32

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 and then validate, account, and post the invoice from the spreadsheet.

B. 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.

C. Enter an Invoice in the Create Invoice page. Then from the actions drop-down list, first choose the validate option and then the post to ledger option (create accounting).

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

ANSWER: B

QUESTION NO: 33

How will system evaluate the tolerances for expense reports?

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

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 use absolute amount tolerance setup to do validations.

 Page 16 of 26

ANSWER: B

QUESTION NO: 34

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. five sold-to business units

C. three procurement business units

D. twelve business units per supplier

E. four requisition business units

ANSWER: C

QUESTION NO: 35

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

B. XLS

C. JPG

D. PNG

E. TIFF

ANSWER: C D E

QUESTION NO: 36

What does the Place of Supply rule value "Bill to Party" imply in an Oracle Payables Invoice? A. Location assigned to the Supplier Party Site for the transactions

B. Location assigned to the Legal Entity for the transactions

C. Location assigned to the Legal Entity Reporting Unit for the transactions

D. Location assigned to the Business Unit for the transactions

 Page 17 of 26

ANSWER: C

Explanation:

The corresponding place of supply differs based on the type of transaction. For example, a place of supply of Ship to corresponds to the location of your first-party legal entity for Payables transactions. For Receivables transactions, Ship to corresponds to the location of your customer site.

Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faitx/tax-configuration.html#FAITX223758

QUESTION NO: 37

During an expense audit the auditor marks an expense item that is missing a receipt to be Short Paid. They choose to complete the audit and warn the user.

Given that the Expense Report Audit Approval is set to After Manager Approval, what two are valid results of the auditor action? (Choose two.)

A. New expense report containing disallowed expense items is immediately created.

B. Approved part of the expense report is not eligible for expense reimbursement.

C. The approved part of the expense report is eligible for expense reimbursement.

D. New expense report containing disallowed expense items is not created until manager approves the short payment.

ANSWER: A B

Explanation:

New expense report containing disallowed expense items is immediately created. Expense report isn't eligible for expense reimbursement.

Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/fawde/expense-report-audit.html#FAWDE1119039

QUESTION NO: 38

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

B. Business Unit Name

C. Statistical Amount

D. Pay Group Lookup Code

E. Accounting Date

ANSWER: B D E

 Page 18 of 26

QUESTION NO: 39

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? (Choose two.)

A. The status of the payment file is Cancelled.

B. The status of each payment in the payment file is Cancelled and the related documents are available for future selection. C. The status of the payment file is Terminated.

D. The invoices are placed on payment hold.

E. The status of each payment in the payment file is Terminated.

ANSWER: B C

QUESTION NO: 40

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 reasons for this? (Choose two.)

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

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

C. The invoice needs re-validation.

D. The invoice requires approval.

E. The invoice has not been accounted.

ANSWER: C D

QUESTION NO: 41

Which three are valid reasons why you cannot close your Payables period? (Choose three.)

A. Bills payable requiring maturity

B. Unapplied prepayments

C. Incomplete payment files

D. Suppliers on payment holds

E. Unaccounted invoices and payments

 Page 19 of 26

ANSWER: A C E

QUESTION NO: 42

In the implementation project, there is a requirement to add new transactional attributes to the Expense Approver Report workflow notification.

Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.) A. The original Source

B. The Output types

C. The layout-template

D. The Data Model

E. The Style-Template

ANSWER: C E

Explanation:

Style Template: Provides styles such as the type of lines and fonts to use in tables, or the font type, size, and color to use for headings Report: Contains a layout template that determines:

- Which attributes appear in the notification, from the data model used for the report

- What the notification looks like, leveraging components from the subtemplate and styles from the style template used for the report

Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faiex/expenses-configuration.html#FAIEX2657210

QUESTION NO: 43

Which method can you use to route payment approval rules?

A. Parallel

B. Approval Groups

C. Sequential

D. Serial and FYI (For Your Information)

E. Both Parallel and Sequential

ANSWER: C

 Page 20 of 26

QUESTION NO: 44

Which two are true for Payables Payment Terms? (Choose two.)

A. When entering an Invoice, you will see Payment Terms assigned to the reference data set associated with the Business unit on the invoice plus those associated with the common set.

B. You must assign the predefined payment term Immediate to the reference data set that is assigned to the business unit before you can define common options for Payables and Procurement.

C. When entering an Invoice, you will see Payment Terms assigned to the reference data set associated with the Business unit on the invoice but not those associated with the common set.

D. Each payment term can only be assigned to one reference data set.

ANSWER: A B

Explanation:

Assigning a reference data set to a business unit: When you define a business unit, assign the business unit a reference data set for the Payables Payment Terms reference group.

Before you define common options for Payables and Procurement, you must assign the Immediate payment term to the reference data set for the business unit.

Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faipp/payables-configuration.html#FAIPP772430

QUESTION NO: 45

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 Common Options for Payables and Procurement page for the business unit.

B. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Payment Options page for the business unit.

C. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Invoice 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.

ANSWER: C

 Page 21 of 26

QUESTION NO: 46

Which data is visible to a Payables user in the Payables to General Ledger Reconciliation report? A. Data for all business units and one balancing segment in the ledger

B. Data for authorized business units only; no GL data is visible

C. Data for all business units and all balancing segments in the ledger

D. Data for authorized business units and GL data for all balancing segments in the ledger (unless restricted)

ANSWER: A

Explanation:

Payables users can also see general ledger data for all balancing segment values in the ledger. Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/ocuar/oracle-fusion-payables-reports.html#OCUAR444681

QUESTION NO: 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 than 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. ANSWER: C

QUESTION NO: 48

When working with reference data sets in Payables, what reference data sharing method can you use for Payables Payment Terms?

A. Assignment to one set only; no common values allowed

B. Assignment to one set only with common values

 Page 22 of 26

C. Assignment to multiple sets with common values allowed D. Assignment to multiple sets; no common values allowed

ANSWER: D

Explanation:

Assignment to multiple sets, no common values allowed. The method of sharing reference data that allows a reference data object instance to be assigned to multiple sets. For instance, Payables Payment Terms use this method.

Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faigl/reference-data-sharing.html#FAIGL462453

QUESTION NO: 49

What is the recommendation when setting up Reconciliation Rule Sets?

A. Many to Many rule should always be used first in the sequence.

B. One to One rule should be sequenced below rules of other types.

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

D. Many to Many rule should always be used last in the sequence.

ANSWER: C

QUESTION NO: 50

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

What is the reason for this?

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

B. The audit selection rule has not been assigned to the legal entity

C. Auditing has not been enabled in the system options page

D. An expenses template and type rule has not been setup

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

ANSWER: E

Explanation:

 Page 23 of 26

Assign audit rules to business units.

Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faiex/expense-policies-and-rules.html#FAIEX654018

QUESTION NO: 51

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 the reason for this?

A. The invoice is already on hold.

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

C. The invoice date is not in the current open period.

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

ANSWER: B

QUESTION NO: 52

A company has three legal entities each with a corresponding business unit all within the same country. All organizations buy and sell the same products. You are configuring the tax setup.

What is the minimum number of Tax Regimes you need to configure for this company?

A. 2

B. 6

C. 1

D. 3

ANSWER: D

Explanation:

You must set up a separate tax registration to represent each distinct registration requirement for a first party legal reporting unit.

Reference: https://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20375/F527690AN1AA76.htm

QUESTION NO: 53

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

 Page 24 of 26

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

A. Weekly

B. Monthly

C. Biweekly

D. Annually

E. Bimonthly

ANSWER: A B C

QUESTION NO: 54

You need to have your 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. Which two are valid methods to achieve this? (Choose two.)

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

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

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

D. Define a payment term and assign it to the invoice.

ANSWER: C D

QUESTION NO: 55

Your client wants the subledger journal entry description to be transferred to general ledger. Which two could be used to enable this? (Choose two.)

A. Set the General Ledger Journal Entry Summarization option to Summarize by general ledger period B. Set the General Ledger Journal Entry Summarization option to Group by general ledger period C. Set the General Ledger Journal Entry Summarization option to Group by general ledger date D. Set the General Ledger Journal Entry Summarization option to Summarize by general ledger date

ANSWER: A D

Explanation:

 Page 25 of 26

Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faisl/subledger-accounting-setup.html#FAISL1025380  Page 26 of 26