Oracle 1Z0-961 Online Practice Questions and Exam Preparation

Oracle 1Z0-961 Online Questions & Answers

• Question 11:

  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. Transfer the data to General Ledger.
  B. Create Accounting for theinvoice in Payables.
  C. Validate the invoice in Payables.
  D. Create a payment process request in Payments.
  D. Create a payment process request in Payments.

• Question 12:

  An invoice for $200 USD and a credit memo for $225 USD are due for payment and the "Apply credits up to zero amount" option is enabled for the payment process request. Which statement is correct?

  A. The payment process request applies $200 USD of the credit memo to the invoice, leaving a remaining credit of $25 USD, and creates apayment for $0 USD.
  B. The payment process request doesn't select the invoice or credit memo for payment because the credit reduces the payment to - $25 USD, which is below zero.
  C. The payment process request creates a refund for $225 USD and leaves the invoice unpaid.
  D. The payment process request pays only $200 USD alone.
  D. The payment process request pays only $200 USD alone.

• Question 13:

  You have created an approval rule as follows:

  Rule 1: If the invoice amount > $1000, route it to User 1.

  Rule 2: If the invoice amount < $1000, auto approve it.

  Now, the user creates an invoice for $1000 and routes it for approval. What will happen?

  A. The system will issue an error message after the approval has been initiated.
  B. Invoice will not be processed.
  C. Invoice will be sent to User 1 for approval.
  D. Invoice will be auto-approved.
  B. Invoice will not be processed.

• Question 14:

  Which statement is true about selecting a bank account on the Create Payment page?

  A. Bank account must match thesupplier's bank account.
  B. There is not relationship between the business unit, bank, and LE. Users can pick any bank account that is setup in their system.
  C. LE on the bank account should be different from the LE on the invoice.
  D. LE on the bank account should be equal to LE on the invoice.
  E. Users can pick any bank account as long as the bank account is tied to the business unit.
  D. LE on the bank account should be equal to LE on the invoice.

• Question 15:

  The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct?

  A. Voiding the payment automatically places an invoice on hold.
  B. Any previous accounting and payment records for an invoice are reversed.
  C. Any realized gain or loss previously calculated isreversed.
  D. All related withholding tax invoices are automatically voided.
  E. All related interest invoices are reversed if previously created.
  B. Any previous accounting and payment records for an invoice are reversed.
  D. All related withholding tax invoices are automatically voided.
  E. All related interest invoices are reversed if previously created.

• Question 16:

  While processing an expense report, the system placed a payment hold on the expense report. What are two ways to release payment holds?

  A. The employee can manually release the hold.
  B. The employee's supervisor can manually release the hold.
  C. Payables Manager can release payment holds in Payables.
  D. The expense auditor can manually release the payment hold at his discretion.
  E. Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived.
  D. The expense auditor can manually release the payment hold at his discretion.
  E. Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived.

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  Explanation: Reference: s:

• Question 17:

  You are resolving payment validation errors during the payment build process. Which two actions can you perform to resolve these errors?

  A. Run the create accounting program.
  B. Run the invoice validation program.
  C. Remove the documents or payments causing the error and resume thepayment process.
  D. Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.
  E. Terminate the payment process request.
  D. Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.
  E. Terminate the payment process request.

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  Reference: https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm

• Question 18:

  Select three statements about the submission of invoices by suppliers using Supplier Portal.

  A. A supplier can submit a single invoice against multiple purchase orders across different currencies and organizations.
  B. A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed.
  C. A supplier can validate the invoice after submitting it.
  D. A suppliercan submit a single invoice against multiple purchase orders, provided the currency and organization for all the invoice items are the same as those on the purchase orders.
  E. A supplier cannotmake changes to the invoice after submitting it.
  B. A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed.
  D. A suppliercan submit a single invoice against multiple purchase orders, provided the currency and organization for all the invoice items are the same as those on the purchase orders.
  E. A supplier cannotmake changes to the invoice after submitting it.

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  Reference: https://docs.oracle.com/cd/E18727_01/doc.121/e13414/T463223T463232.htm

• Question 19:

  You want your expense auditors to audit only expenses reports for specific business units. How do you do this?

  A. Create a custom duty role and assign the data roles to each auditor.
  B. Assign the auditors specific data roles for the corresponding business units.
  C. Create your own audit extension rules that correspond to the business unit.
  D. Make auditors the managers of the corresponding business unit to route expense reports properly.
  B. Assign the auditors specific data roles for the corresponding business units.

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  Reference: http://docs.oracle.com/cd/E29597_01/fusionapps.1111/e20375/F569964AN64F1 E.htm

• Question 20:

  You have modified your tax setup and want to test the changes on actual Payables transaction. How do you validate before enabling for transaction?

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