1z0-507 by Oracle Actual Free Exam Q&As

Question 1

During its first month end close, a company has an Invoice with a Hold status dated 15-Jan-2012.
Its accounting practice permits the transfer of unaccounted transactions from one period to another. What will happen if it runs the Payables Unaccounted transactions Sweep program?

A. The accounting date of the invoice will NOT change but the user can close the existing period B. The accounting date of the invoice will change to the same day of the new period specified. C. The accounting date of the Invoice will change to the same day of next period. D. The accounting date- of the Invoice will change to the first day of next period. E. The accounting date of the invoice will change to the first day of the new period specified.

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Correct Answer: E Vote an answer

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Question 2

Identify two items that are defined in the Common Options in the Payables and Procurement window?

A. Apply Withholding Tax B. Conversion Rate Type C. Discount Allocation Method D. Automatic Offset E. Payment Terms

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Correct Answer: B,C Vote an answer

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Question 3

How are prepayments for invoices configured?

A. Enable the Profile Option for Prepayment in the Manage Payable profile options page. B. No additional configuration is required. Users must select the invoice type as prepayment when the invoice is created. C. Create the prepayment terms and associate it with the prepayment Invoice. D. Enable Allow Prepayments in Define General Payables Options. E. No additional configuration is required. Users must select the payment type as prepayment when the payment is created.

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Correct Answer: B Vote an answer

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Question 4

Identify two privileges granted to the job role Accounts Payable Supervisor.

A. managing Accounting Period Status B. managing Payables Activities C. preparing French DAS2 Contractor Letters D. running Payables Data Extraction Program E. initiating Payables Invoice Approval Task Flow

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Correct Answer: A,B Vote an answer

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Question 5

What invoice approval status is required to apply the invoice approval action Hold from Approval?

A. Held from Approval B. Rejected C. Required D. Initiated E. Resubmit for Approval

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Correct Answer: C Vote an answer

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Question 6

What activity is performed by an Accounts Payable Manager with the duty role of Subledger Accounting Transaction Analysis Duty?

A. Creates accounting for all types of transactions B. Analyses subledger accounting transactional information C. Maintains transaction object diagnostics, imports and updates subledger balances D. Reviews subledger journal entries and entry lines E. Executes all subledger accounting reports and reviews journal entries

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Correct Answer: B Vote an answer

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Question 7

Which three activities are performed in the Corporate Cards Work Area?

A. managing outstanding transactions B. managing historical transactions C. managing corporate card programs D. managing usage policies E. managing corporate card issuers F. creating payment requests

Discussion 0

Correct Answer: A,C,F Vote an answer

Question 8

In which two ways will an invoice be impacted when an inclusive prepayment is unapplied from it?

A. The invoice paid status changes from Partially Paid to Unpaid. B. The invoice accounting status changes to Partially Accounted. C. The invoice validation status changes to Needs Revalidation. D. The unpaid invoice amount is increased by the amount of the prepayment. E. An installment is created for the prepayment amount.

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Correct Answer: A,D Vote an answer

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Oracle Fusion Financials 11g Accounts Payable Essentials - 1z0-507 Exam Practice Test