PeopleSoft Payables 9.1 Essentials - 1z1-573 Exam Practice Test

Question 1

A company has an agreement with its vendor not to pay the disputed items. In order to debit the liability accounts for the unpaid portion of these vouchers, the company decides to close the vouchers. Before proceeding, the company should ensure that the vouchers are ______.

A. Posted

B. Not selected for payments

C. Fully Matched

D. Not fully paid

E. Approved

Correct Answer: E

Question 2

PeopleSoft Payables enables you to use alternate bankaccounts to replace the original bank accounts defined for a pay cycle according to bank replacement rules. All are bank replacement options except ______.

A. Replace by Individual Payment Limit: Assign an alternate bank account to any individual payment that exceeds a monetary amount limit that is predefined for the original bank account.

B. Replace Bank with Another Bank: Replace a particular original bank account or payment method with an alternate bank account or payment method.

C. Replace by Currency: Assign an alternate bank account, payment method, and currency to all payments scheduled to be made with a particular original currency.

D. Replace All Bank Accounts: Replace the original bank accounts for all payments in a pay cycle with multiple alternate bank accounts.

E. Replace by Bank Maximum Limit:Assign an alternate bank account to any payments that remain after the monetary total of accumulated payments from a single bank account exceeds a defined monetary limit for that bank account.

Correct Answer: A

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Question 3

Which three Document Association groups are delivered by PeopleSoft?

A. Req-PO-Voucher (RPV)

B. Voucher-PO (VP)

C. Voucher-PO-Receiver (VPR)

D. Voucher-Receiver (VR)

E. PO-Receiver (PR)

Correct Answer: B,C,E

Question 4

The business calendar is used throughout PeopleSoft applications to define nonworking days and holidays for transaction processing. What are four Business Day Validations?

A. Use Leap Year Calendar

B. Use Secondary Holiday Calendar

C. Use Holiday Calendar

D. Validate Payment Dates

E. Use Standard Week

F. No Validation

G. Validate Custom Calendar

Correct Answer: A,B,C,E

Question 5

What step is mandatory when creating pay cycles using the Payment Selection Criteria component?

A. Set up netting reference codes and exclusion parameters.

B. Set up banks and bank accounts.

C. Tailor your pay cycle definition.

D. Set up vendor pay groups.

E. Define bank replacement rules.

Correct Answer: A

Question 6

Vendors can have multiple addresses and multiple locations. Addresses are the physical addresses of the vendor; a location corresponds to a unique way of doing business. Identify the four correct statements regarding locations.

A. Specifies matching options if matching is used to approve vouchers for payment

B. Defines payment terms and banking information for the vendor

C. Defines a number of payment parameters that are used during payment processing

D. Defines the primary physical address where business is conducted

E. Generates separate checks for each voucher at the location level

Correct Answer: A,B,D,E

Question 7

Which three statements are true about voucher payments?

A. Payments cancelled with the "Void" option get reconciled automatically.

B. Manual payments cannot be cancelled.

C. The reference ID for a voucher payment is derived from "Last Ref Number" defined at the bank account - payment method level.

D. Payment for a prepaid voucher cannot be recorded manually.

E. Payment cancellation can be undone as long as the payment posting is not run.

Correct Answer: B,C,D

Question 8

If the vendor has an initial financial sanctions status of Cleared, and the system performs financial sanctions validation and finds that there is a match, the system automatically changes the vendor's financial sanctions status to ______.

A. Reject

B. Hold

C. Valid

D. Review

Correct Answer: B

Oracle PeopleSoft Payables 9.1 Essentials - 1z1-573 Exam Practice Test

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