Oracle EBS R12: General Ledger and Payables Fundamentals

QUESTION NO: 1
Select three activities that must be performed to complete the setup of the key accounting flexfield. (Choose three.)

A. Define valid segment values. B. Define an account structure. C. Define security rules. D. Create aliases. E. Define a value set. F. Create account combinations.

Correct Answer: A,B,E

QUESTION NO: 2
Identify three key accounts to be considered during the implementation of Payables that impacts the reconciliation of the accounts payable liability accounts. (Choose three.)

A. accrued Payables account B. accrual charge account C. receiving inventory account D. receiving accrual account E. expense AP accrual account F. inventory AP accrual account G. AP liability account

Correct Answer: E,F,G

QUESTION NO: 3
Identify two implementation considerations that impact Payables during the closing process. (Choose two.)

A. Choose the detail option to transfer details to General Ledger during the Create Accounting process. B. Determine the number of clearing accounts to use for Projects, Assets, and Cash Management. C. Determine how often you will run the Transfer Journal Entries to GL process. D. Review the scheduling of the Create Accounting process to ensure that this is processed before processing pay runs. E. Review the scheduling of the Mass Additions Create process to ensure that this is processed before the Create Accounting process.

Correct Answer: B,C

QUESTION NO: 4
Which two are true about elimination? (Choose two.)

A. You must specify an elimination company in the Elimination Sets window. B. Currency is an optional component when defining an elimination set. C. You can define an elimination set to contain one elimination entry. D. You can define balancing options for eliminating entries.

Correct Answer: C,D

QUESTION NO: 5
Select four options that can be set at the supplier site level. (Choose four.)

A. tax details B. accounting C. bank details D. business classification E. surveys

Correct Answer: A,B,C,E

QUESTION NO: 6
Identify three statements that are true about bank and supplier payment. (Choose three.)

A. If bank accounts for a supplier site are entered, Payables defaults the supplier's active bank accounts. B. Credit and debit memos are examples of payment documents. C. Supplier's payment requires a bank account with at least one payment document. D. Primary bank account can be only at the supplier site. E. Use the Banking Details page to create bank accounts for making payments to suppliers.

Correct Answer: A,C,E

QUESTION NO: 7
When summary account templates are associated with the check-level advisory of budgetary control funds, what two actions must you perform? (Choose two.)

A. The currency must be identified. B. The formula must be identified. C. The amount type must be identified. D. A debit or credit balance type must be assigned.

Correct Answer: C,D

QUESTION NO: 8
Identify the setup options that would allow the accounts payable supervisor to default an active expense report template.

A. System Options B. Financial Options C. Code Set Options D. Expense Report Payables Options E. Payables Options

Correct Answer: D

QUESTION NO: 9
Expense reports for Company A are entered in Payables using the Expense Report form. The accounting flexfield has a three-segment structure:
Company - Cost Center - Account
The employee GL account on the expense report is populated from the employee record. The company and the cost center for the expense lines are derived from the GL account. The account segment value could vary for every line on the expense report. Identify the approach you recommend to Company A for fast and accurate entry of expense reports.

A. Create expense report templates. Enter the account segment value for each line on the template. Leave the other segment values empty. Use the template lines when entering the expense report. B. Enter the expense report header. Enter lines. Enter all segment values for each expense report line. C. Enter the expense report header. Enter lines. Override the account segment value for each line as required.

Correct Answer: A

QUESTION NO: 10
Purchasing has numerous activities that are performed as a key part of the Procure-to-Pay process. Select three activities that are performed in the Purchasing module that will integrate into Payables. (Choose three.)

A. creating purchase order detailed accounting information B. creating purchase orders C. canceling invoices D. performing receiving E. scheduling payments

Correct Answer: A,B,D

QUESTION NO: 11
You have the following information:
The Accounting flexfield structure is "company, department, product, account." Product has two rollup groups: domestic and international. Department has one rollup group: manufacturing. All accounting flexfield segment values can use alphanumeric characters.
Which summary account template would Oracle General Ledger fail to create? (D: Detail)(T: Total)

A. T-D-D-D B. D-T-domestic-D C. D-D-D-D D. T-manufacturing-international-D E. T-T-T-T F. D-manufacturing-D-T

Correct Answer: C

QUESTION NO: 12
Which two statements are true about defining payment documents? (Choose two.)

A. Credit and debit memos and checks are examples of payment documents. B. You can create only one payment document for each internal bank account. C. Use the Payment Documents window to define payment documents for internal, customer, and supplier bank accounts. D. Checks and electronic payments are examples of payment documents. E. You must create at least one payment document before you can use a bank account to create invoice payments.

Correct Answer: D,E

QUESTION NO: 13
To achieve the maximum summary account functionality for total (T), how must the value sets for each segment of the accounting key flexfield be set?

A. The maximum size of each segment of the accounting keyflexfield must be five characters. B. The list type must be set to long list of values. C. The format type must be set to character, and the additional option of numbers only must not be selected. D. Precision must be set to one.

Correct Answer: C

QUESTION NO: 14
Payment process request templates are created on the Templates tabbed page of the Payments Manager to simplify pay run processing. All statements in the list below represent steps to create a payment process request template. Which one is the first step?

A. Specify invoice payment selection criteria. B. Specify the degree of pay run automation. C. Specify template header information. D. Specify how the system handles validation failure on the document and payment levels. E. Specify payment attributes.

Correct Answer: C

QUESTION NO: 15
ABC Corp. requires that all invoices are matched to both a purchase order and a receipt. Invoice tolerances are set to zero. A standard purchase order is entered for consulting services. An invoice is entered and matched against a purchase order. The total invoice amount matches the distribution amount. When the steps to prepare the invoice for payment are completed, the invoice is placed on hold. The company's business policy states that all holds cannot be manually released. To pay the supplier, identify the step to be completed to remove the hold and be eligible for payment.

A. The service must be received in Purchasing because three-way matching is required. B. Inspection is required because it is a three-way match. C. The service must be received in Accounts Payable because it is a purchase order for a service and not a commodity or item. D. Change the invoice tolerances in the Payables Options form to be greater than zero, so that the invoice does not go on hold again. E. Manually release the hold because it is not a system hold.

Correct Answer: A

Oracle EBS R12: General Ledger and Payables Fundamentals - 1Z0-215 Exam Questions