Free 1Z0-1005 Exam Dumps PDF Preview

Question 1

Single choice

Which attributes on the payables invoice can be used during approval rule creation?

A
company segment, cost center segment, supplier, and Attribute 1 on the invoice line
B
company and cost center segment only
C
supplier only
D
cost center segment and supplier only

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Correct answerA

Question 2

Single choice

A company makes the payment in a currency different from the invoice and ledger currency.

What setup options are required to make the cross currency rate type the default?

A
Manage Invoice Options and Manage common options for Payables and Procurement
B
Manage Payable Options and Manage Invoice Options
C
Manage Invoice Options and Manage Procurement agents
D
Manage common options for Payables and Procurement and Manage Procurement agents
E
Manage Payment Options and Manage common options for Payables and Procurement

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Correct answerE

Question 3

Single choice

An installment for $1,000 USD is due for payment on January 10, 2019. The installment has two discounts: the first discount date is December 5, 2018 for $150 USD and the second discount date is December 20, 2018 for $50 USD. The Pay Date Basis on the supplier site is Discount.

You submit a Payment Process Request with the following criteria: Payment Date = December 5, 2018
Pay Through Date = December 25, 2018
Date Basis = Pay Date
Always Take Discount option is enabled

What will be the resulting status of the installment and discount?

A
The installment is selected and a discount of $50 USD (the second discount) is applied.
B
The installment is selected and a discount of $200 USD ($150 + $50) is applied.
C
The installment is selected and a discount of $150 USD is applied because the Always Take Discount option was enabled.
D
The installment is selected but no discount is applied because the payment date is after the discount dates.
E
The installment is not selected because the first discount date is before the Pay Through Date.

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Correct answerC

Question 4

Single choice

Which invoice types can be included in the Create Payment flow?

A
Standard, Credit Memo and Debit Memo
B
Standard, Credit Memo and Customer Refund
C
Standard, Credit Memo, and Invoice Request
D
Standard, Debit Memo and Customer Refund

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Correct answerA

Question 5

Multiple choice

You need to create a payment for a supplier before the next payment run. The invoice you wish to pay is not available for selection in the Create Payment page.

Which two are possible reasons for this? (Choose two.)

A
The payment supplier site is different to the supplier site on the invoice.
B
The invoice is not yet due.
C
The invoice is not validated.
D
The payment method for the invoice is Electronic.
E
The invoice is not accounted.

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Correct answersB, D

Explanation

References:
https://docs.oracle.com/en/cloud/saas/financials/18b/fappp/payments.html#FAPPP441015_2

Question 6

Single choice

An installment for $2,000 USD is due for payment on July 31, 2018. The installment has two discounts: the first discount date is June 15, 2018 for $150 USD and the second discount date is June 30, 2018 for $50
USD.

You submit a Payment Process Request with the following criteria: Payment Date = June 20, 2018
Pay Through Date = July 30, 2018
Date Basis = Due Date

What will be the resulting status of the installment and discount?

A
The installment is not selected because the discount dates are before the Pay Through Date.
B
The installment is selected and no discount is applied.
C
The installment is not selected because the due date is after the Pay Through Date.
D
The installment is selected and a discount of $50 USD is applied.
E
The installment is selected and a discount of $150 USD is applied.

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Correct answerC

Question 7

Multiple choice

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? (Choose two.)

A
For the Legal Jurisdiction, Legal function: "Generate intercompany invoice" should be assigned.
B
Schedule create accounting for the intercompany process.
C
Supplier site primary pay flag and customer account bill to primary flag should be enabled.
D
Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.
E
Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables.
F
Manual Approvals should be allowed for the transaction type.

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Correct answersC, E

Question 8

Single choice

Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?

A
Payables to Ledger Reconciliation report
B
Payables Aging reports with the General Ledger Trial Balance report
C
General Ledger Financial Statements and the Accounts Payable and Invoice Registers
D
Payables Trial Balance and General Ledger Trial Balance reports

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Correct answerA

Question 9

Single choice

You want 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
InvoiceApproversFYIParticipantInParallelMode
B
InvoiceApproversSingleParticipantInParallelMode
C
InvoiceApproversParallelParticipantInParallelMode
D
Invoice Approvers

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Correct answerB

Question 10

Multiple choice

The expense auditor has chosen to Request More Information for an expense report. Select two ways the system processes this action. (Choose two.)

A
The expense report status remains Pending Payables Approval.
B
The expense report is routed back to the approvers.
C
The audit can be completed before the requested information is received from the employee.
D
The employee must resubmit the expense report.

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Correct answersA, D

Question 11

Single choice

You need to enter a last-minute invoice during the close process.

What is the quickest way to enter and post the invoice to general ledger?

A
Enter the invoice via a spreadsheet. Then, from the Manage Invoices page, query the invoice, validate it, create accounting, and then open general ledger's Manage Journals page and post the associated invoice journal entry.
B
Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.
C
Enter and post a manual journal entry directly into the general ledger.
D
Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.

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Correct answerA

Question 12

Single choice

What is the recommendation when setting up Reconciliation Rule Sets?

A
One to One rules should be sequenced below rules of other types.
B
Many to Many rules should always be used last in the sequence.
C
One to One rules should be sequenced above rules of other types.
D
Many to Many rules should always be used first in the sequence.

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Correct answerC

Explanation

References:
https://docs.oracle.com/en/cloud/saas/financials/18b/fairp/define-cash-management-and-banking-configuration.html#FAIRP237686

Question 13

Multiple choice

Identify what Oracle considers two best practices when setting up Payables and Receivables account access for bank reconciliation. (Choose two.)

A
Do not assign bank accounts to business units.
B
Assign a few general ledger cash accounts to multiple bank accounts to facilitate book-tobank reconciliation.
C
Business units must be granted access to the bank account.
D
Only business units who use the same ledger as the bank accounts owning legal entity can be assigned access.
E
Allow bank accounts to be accessed by all roles and users because the default value to secure a bank account by users and roles is No.

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Correct answersC, D

Question 14

Multiple choice

Select three reasons why you cannot close your Payables period. (Choose three.)

A
open intercompany transactions
B
unapplied prepayments
C
suppliers on payment holds
D
bills payable requiring maturity
E
unaccounted invoices and payments

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Correct answersA, D, E

Question 15

Single choice

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 creating accounting in draft mode
B
by changing the tax status to test and then entering a payables invoice
C
by creating a payable invoice, and by validating and reviewing the tax application
D
Oracle Transactional Business Intelligence (OTBI)
E
by using Tax Simulator to test

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Correct answerE

Free 1Z0-1005 Exam Dumps Preview

Oracle Financials Cloud: Payables 2018 Implementation Essentials

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