Oracle 1Z0-961 Online Practice Questions and Exam Preparation

Oracle 1Z0-961 Online Questions & Answers

• Question 51:

  Which component is not included in the security architecture for credit card data and bank account data encryption?

  A. Payments master encryption key
  B. Oracle Wallet
  C. Payments subkeys
  D. Sensitive data encryption and storage
  E. Supplier master encryption key
  E. Supplier master encryption key

• Question 52:

  You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?

  A. Imported
  B. Never Validated
  C. Validated
  D. Needs Revalidation
  E. Not Required
  B. Never Validated

• Question 53:

  When submitting the Payables to General Ledger Reconciliation report, the extract did not select any data. What should you check?

  A. Make sure you assign an Account parameter when running the extract to include liability account.
  B. Make sure you assigned a Financial Category of Accounts Payable to all your liability natural accountvalues.
  C. Make sure you enabled the Reconciliation flag to all of your liability natural account values.
  D. Make sure you specified a Business Unit in the parameters when running the extract.
  A. Make sure you assign an Account parameter when running the extract to include liability account.

• Question 54:

  What is the result of voiding a payment?

  A. The payment is reconciled to the bank statement.
  B. The payment is no longer valid for payment.
  C. A stop payment request has been initiated to thebank.
  D. A bills payable payment was created but is not yet matured.
  B. The payment is no longer valid for payment.

• Question 55:

  Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?

  A. The purchase order payment term cannot be overridden.
  B. The user needs to manually change the payment term on the invoice to match the purchase order payment term.
  C. The user needs to specify which payment term to use.
  D. The payment termof the invoice overrides the purchase order payment term.
  E. The payment term of the purchase order overrides the invoice payment term.
  B. The user needs to manually change the payment term on the invoice to match the purchase order payment term.

• Question 56:

  Select three reasons why you cannot close your Payables period.

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

• Question 57:

  During your business trip to the UK, you took a taxi ride and paid for it by using your personal Visa credit card. While entering your expenses, you get a warning that a different conversion rate was applied to the taxi expense by Visa than the one used by your company.

  How do you handle this situation?

  A. Do not enter the taxi expense and call your Finance Department so that they can make changes in theconversation rate settings and you do not violate the allowable limit.
  B. Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a different conversion rate.
  C. Use the corporate-defines conversion rate even if itmeans you will not be reimbursed fully.
  D. Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then, wait to get a revised statement.
  A. Do not enter the taxi expense and call your Finance Department so that they can make changes in theconversation rate settings and you do not violate the allowable limit.

• Question 58:

  You have 10 ledgers and 30 business units and want to leverage Reference: Data Sets. What is the function of Reference: Data Sets?

  A. allow you to secure data by business unit
  B. allow you to assign multiple business units to users in a shared service center
  C. allow you to maintain sets of related data in a Data Dictionary
  D. allow you to share Reference: data, such as payment terms, across multiple business units to avoid redundant setup
  D. allow you to share Reference: data, such as payment terms, across multiple business units to avoid redundant setup

• Question 59:

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

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

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  Reference: http://docs.oracle.com/cd/E28271_01/fusionapps.1111/e20375/F569961AN5B6A 3.htm

• Question 60:

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

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