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Oracle 1z0-507 Exam Syllabus Topics:

SectionObjectives
Payments Processing- Payment methods and formats
- Payment processing and reconciliation
Accounting and Period Close- Period end close processes
- AP accounting entries
Reporting and Controls- AP reporting tools and analysis
- Audit and compliance controls
Supplier and Invoice Management- Invoice creation and validation
- Supplier setup and maintenance
- Invoice matching and approvals
Accounts Payable Overview- AP business processes overview
- AP setup and configuration

Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:

Question #1

What are the two parameters for the Payables Trial Balance Report?

  • A. Supplier Name
  • B. Party Name
  • C. Legal Entity
  • D. Ledger
  • E. Supplier Number
Reveal Solution  Discussion  0

Correct Answer: A,E  🗳️

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Question #2

Which three business rules prevent a distribution from being reversed?

  • A. If it is PO/RCV matched
  • B. If it represents a variance (IPV or ERV)
  • C. If it is already posted to a subledger
  • D. If it represents an interest invoice line
  • E. If it represents a prepayment application/unapplication
Reveal Solution  Discussion  0

Correct Answer: A,B,D  🗳️

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Question #3

Which three fields appears in the Invoice Summary area when creating an invoice using the spreadsheet options?

  • A. Difference
  • B. Freight
  • C. Status
  • D. Invoice Number
  • E. Miscellaneous
Reveal Solution  Discussion  0

Correct Answer: B,C,D  🗳️

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Question #4

Identify three tax types calculated and displayed in the totals area of the invoice page.

  • A. Withheld Tax
  • B. Non Recoverable tax
  • C. Self Assessed Tax
  • D. Recoverable Tax
  • E. Inclusive Tax
Reveal Solution  Discussion  0

Correct Answer: A,B,D  🗳️

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Question #5

Which three options are used to sort the Unaccounted Transaction Report?

  • A. Transaction Source
  • B. Transaction Date
  • C. Transaction Currency
  • D. Transaction Type
  • E. Transaction Number
Reveal Solution  Discussion  0

Correct Answer: C,D,E  🗳️

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