Oracle Financials Cloud: Payables 2020 Implementation Essentials

QUESTION NO: 1
The expense auditor has chosen to Request More Information for an expense report. Select two ways the system processes this action. (Choose two.)

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 expense report status remains Pending Payables Approval. D. The employee must resubmit the expense report.

Correct Answer: A,C

QUESTION NO: 2
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. Biweekly B. Bimonthly C. Annually D. Weekly E. Monthly

Correct Answer: B,D,E

QUESTION NO: 3
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 accounting date is not in the current open period. B. The invoice is already on hold. C. The invoice has been partially paid by another payment. D. The invoice date is not in the current open period.

Correct Answer: C

QUESTION NO: 4
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 invoice is not yet due. B. The payment supplier site is different to the supplier site on the invoice. C. The invoice is not accounted. D. The invoice is not validated. E. The payment method for the invoice is Electronic.

Correct Answer: A,E

QUESTION NO: 5
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. Oracle Transactional Business Intelligence (OTBI) B. by changing the tax status to test and then entering a payables invoice C. by using Tax Simulator to test D. by creating a payable invoice, and by validating and reviewing the tax application E. by creating accounting in draft mode

Correct Answer: C

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QUESTION NO: 6
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 chose the "Apply Credits Up to Zero Amount" option when submitting a Payment Process Request? (Choose two.)

A. Both the invoice and the credit memo are included in the Payment Process Request. 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. Only the invoice is paid fully but the credit memo is partially paid with a credit of ($100) USD remaining.

Correct Answer: A,D

Explanation: Only visible for Pass4Test members. You can sign-up / login (it's free).

QUESTION NO: 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 paid and a refund of $25 USD is created. B. Both the invoice and the credit memo are selected and the Payment Process Request requires attention. C. 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. D. Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero.

Correct Answer: C

Explanation: Only visible for Pass4Test members. You can sign-up / login (it's free).

QUESTION NO: 8
Which three are Invoice Header attributes that can be used during invoice approval rule creation? (Choose three.)

A. Accounting Date B. Pay Group Lookup Code C. Requester Name D. Business Unit Name E. Statistical Amount

Correct Answer: A,B,D

QUESTION NO: 9
Which three are subject area subfolders that report Payables reconciliation differences to General Ledger?
(Choose three.)

A. Reconciliation Invoice Details B. Reconciliation Invoice Hold Details C. Reconciliation Payment Details D. Reconciliation Prepayment Application Details E. Reconciliation Invoice Request Details

Correct Answer: A,C,D

QUESTION NO: 10
You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?

A. Validated B. Not Required C. Imported D. Needs Revalidation E. Not Validated

Correct Answer: C

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Oracle Financials Cloud: Payables 2020 Implementation Essentials - 1z0-1055-20 Exam Questions