File Info
| Exam | Oracle Financials Cloud: Payables 2017 Implementation Essentials |
| Number | 1z0-961 |
| File Name | Oracle.1z0-961.Pass4Sure.2018-07-03.48q.vcex |
| Size | 31 KB |
| Posted | Jul 03, 2018 |
| Download | Oracle.1z0-961.Pass4Sure.2018-07-03.48q.vcex |
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Demo Questions
Question 1
Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run?
- Run the process Transfer Intercompany transactions to Receivables and Transfer Intercompany transaction to Payables.
- For the Legal Jurisdiction, Legal function “Generate intercompany invoice” should be assigned.
- Supplier site primary pay flag and customer account bill to primary flag should be enabled.
- Manual Approvals should be allowed for the transaction type.
- Schedule create accounting for the intercompany process.
- Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.
Correct answer: A
Explanation:
Reference https://docs.oracle.com/cloud/latest/financialscs_gs/FAUGL/FAUGL1476872.htm Reference https://docs.oracle.com/cloud/latest/financialscs_gs/FAUGL/FAUGL1476872.htm
Question 2
If you accidentally paid an invoice using Create Payment flow, can you undo the operation?
- Cancel the invoice and create a new one.
- yes, by creating a credit memo to offset the payment
- yes, by canceling the payment process from the process monitor
- no
- yes, by voiding the payment created
Correct answer: E
Question 3
After you submitted a Payment Process Request, you noticed errors. You want to void the payments.
Identify two statements that indicate when it is not possible to void a payment.
- A payment with the status of Issued.
- A payment that has already cleared the bank.
- A payment for an invoice with an associated Withholding Tax invoice.
- A payment that has been accounted and posted to General Ledger.
- A payment that pays a prepayment that has been applied to an invoice.
Correct answer: BE
Question 4
Which component is not included in the security architecture for credit card data and bank account data encryption?
- Payments master encryption key
- Oracle Wallet
- Payments subkeys
- Sensitive data encryption and storage
- Supplier master encryption key
Correct answer: E
Question 5
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?
- The installment is selected and a discount of $150 USD is applied.
- The installment is selected and a discount of $50 USD is applied.
- The installment is not selected because the due date is after the Pay Through Date.
- The installment is selected and no discount is applied.
- The installment is not selected because the discount dates are before the Pay Through Date.
Correct answer: D
Question 6
While entering an expense report for your corporate card transactions, you notice that the conversion rate defined in the Manage Conversion Rates and Policies page is not used.
What is the reason?
- You did not define conversion rates in the General Ledger Cloud.
- Only cash transactions use those settings.
- You did not define conversion rates for your business unit.
- You did not specify a default expense template.
Correct answer: B
Question 7
A Payment Process Request was submitted and errors were found in the payment file. The payment file and process were terminated.
Which two statements are true?
- The invoices are placed on payment hold.
- The status of each payment in the payment file is Cancelled and the related documents are available for future selection.
- The status of the payment file is Cancelled.
- The status of the payment file is Terminated.
- The status of each payment in the payment file is Terminated.
Correct answer: DE
Question 8
You have successfully processed the expense reports for reimbursement and have transferred the information to Payables. What is the next step before you can pay them?
- Transfer the data to General Ledger.
- Create Accounting for the invoice in Payables.
- Validate the invoice in Payables.
- Create a payment process request in Payments.
Correct answer: D
Question 9
Identify two ways the invoice imaging solution works in the Cloud.
- Customers scan the invoice on-premise and email the images.
- Customers cannot use invoice imaging in the Cloud.
- Customers scan and store the invoice images on-premise and attach them during invoice entry.
- Customers ask their suppliers to scan and email the invoice.
- Customers ask suppliers to send electronic invoices.
Correct answer: AD
Question 10
What is the result of voiding a payment?
- The payment is reconciled to the bank statement.
- The payment is no longer valid for payment.
- A stop payment request has been initiated to the bank.
- A bills payable payment was created but is not yet matured.
Correct answer: B
