Oracle Financials Cloud: Payables 2021 Implementation Essentials

Question 1

You need to route invoices to three different approvers at the same time, and only one approver needs to approve the invoice.
Which approval ruleset should you use?

A. ParallelTypeParticipantInParallelModeRuleSet

B. InvoiceApprovalRuleSet

C. FyiTypeParticipantInParallelModeRuleSet

D. SingleTypeParticipantInParallelModeRuleSet

Correct Answer: A

Question 2

A Bill Payable document was paid but has not yet matured.
What is the status of the payment?

A. Issued

B. Cleared

C. In Transit

D. Negotiable

Correct Answer: A

Question 3

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?

A. You did not specify a default expense template.

B. You did not define conversion rates for your business unit.

C. You did not define conversion rates in the General Ledger Cloud.

D. Only cash transactions use those settings.

Correct Answer: D

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Question 4

Which two statements are true about processing corporate card expenses? (Choose two.)

A. Conversion rate defaults apply only to cash expenses, not to corporate card expenses.

B. Card transactions will be paid directly from Expenses Cloud.

C. Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses.

D. You can process payment for credit card using Electronic funds transfer, check, or wire.

E. Usage policy for expense category tolerances does not apply to credit card expenses.

Correct Answer: A,E

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Question 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. by using Tax Simulator to test

B. by changing the tax status to test and then entering a payables invoice

C. by creating accounting in draft mode

D. Oracle Transactional Business Intelligence (OTBI)

E. by creating a payable invoice, and by validating and reviewing the tax application

Correct Answer: A

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Question 6

The payment build program has completed but with errors.
When submitting the payment process request, which processing option is used to review the error messages from the Manage Payment Process Request Inquiry?

A. Set the validation failure handling for payments to "stop process for review."

B. Set the validation failure handling for payments to "show errors."

C. Enable debug for the payment format program.

D. Set the validation failure handling for documents to "show errors."

Correct Answer: A

Question 7

You have a high volume of invoices to enter that have similar lines and do not require extensive validation.
What must you do if you want to group multiple invoices in a batch during spreadsheet entry?

A. Enter a value in the Invoice Group field to group similar invoices into a batch.

B. Enable the invoice option Require Invoice Grouping, and the system automatically groups invoices entered in the same spreadsheet.

C. Make sure the Invoice Number is the same.

D. Make sure all the invoice dates are the same.

E. Assign the same Invoice Header Identifier to multiple invoices you want to group.

Correct Answer: B

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Question 8

Your client company wants to ensure that the payments they are sending to their financial institution are valid and formatted correctly. They would like to identify any validation failures as early in the process as possible.
Where would you suggest the validations are set?

A. Payment Format

B. Supplier Site

C. Disbursement Bank Account

D. Payment Terms

E. Payment Method

Correct Answer: E

Question 9

Which data is visible to a Payables user in the Payables to General Ledger Reconciliation report?

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

B. Data for all business units and one balancing segment in the ledger

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)

Correct Answer: B

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Question 10

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. Validate the invoice in Payables.

B. Transfer the data to General Ledger.

C. Create Accounting for the invoice in Payables.

D. Create a payment process request in Payments.

Correct Answer: A

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Oracle Financials Cloud: Payables 2021 Implementation Essentials - 1Z0-1055-21 Exam Practice Test

Latest Update

Useful Links

Contact Us