Oracle Financials Cloud: Payables 2018 Implementation Essentials v1.0 (1z0-1005)

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Total 77 questions

An installment for $1,000 USD is due for payment on January 10, 2016. The installment has two discounts: the first discount date is December 5, 2015 for $150
USD and the second discount date is December 20, 2015 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, 2015
-> Pay Through date = December 25, 2015
-> 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.


Answer : C

An installment for $2,000 USD is due for payment on July 31, 2016. The installment has two discounts: the first discount date is June 15, 2016 for $150 USD and the second discount date is June 30, 2016 for $50 USD.
You submit a Payment Process Request with the following criteria:
-> Payment Date = June 20, 2016
-> Pay Through Date = July 30, 2016
-> 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.


Answer : C

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

  • A. LE on the bank account should be different from the LE on the invoice.
  • B. Bank account must match the supplier"™s bank account.
  • C. Users can pick any bank account as long as the bank account is tried to the business unit.
  • D. There is no relationship between the business unit, bank, and LE. Users can pick any bank account that is setup in their system.
  • E. LE on the bank account should be equal to LE on the invoice.


Answer : E

You entered an invoice of 12,000 and paid it for Office Suppliers. The payment was never received by the supplier, and you decide to return the entire order. What should you do?

  • A. Cancel the invoice, which debits the liability and credits the expense.
  • B. Issue a credit memo, which will debit the liability and credit the expense.
  • C. Void the payment, which debits cash and credits the liability, and then issue a credit memo, which debits the liability and credits the expense.
  • D. Void the payment, which debits cash and credits the liability, and then cancel the invoice, which debits the liability and credits the expense.


Answer : D

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

  • A. The expense report status remains Pending Payables Approval.
  • B. The expense report is routed back to the approvers.
  • C. The employee must reply to the notification before the reimbursement process can continue.
  • D. The employee must resubmit the expense report.


Answer : AD

What is the difference between subject areas that append the word "Real Time" and those that do not?

  • A. The "Real Time" subject areas are based on real-time transactions and those that are not, are based on historical data.
  • B. The "Real Time" subject areas are based on real-time transactions in the applications, and those that are not, are based on data stored in the Oracle Business Intelligence Applications data warehouse.
  • C. There is no difference.
  • D. The "Real Time" subject areas are based on subledger transactions and the ones that are not are based on general ledger balances.


Answer : B

An invoice for $1,000 USD and a credit memo for ($1,100) USD are due for payment. What are the two outcomes if you chose the "Apply Credits Up to Zero
Amount" option when submitting a Payment Process Request?

  • A. Both the invoice and the credit memo are included in the Payment Process Request.
  • B. Neither the invoice nor the credit memo is included in the Payment Process Request.
  • C. Both the invoice and the credit memo are fully paid.
  • D. Only the invoice is paid fully but the credit memo is partially paid with a credit of ($100) USD remaining.


Answer : AD

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

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


Answer : ABD

You have an invoice for a three-month lease and wish to recognize the expense monthly for the duration of the lease.
What must be entered on the invoice in order to do this?

  • A. You must provide a start date and an end date for the prepaid expenses in the invoice lines or distributions.
  • B. You must provide a start date, an end date, and the accrual account for the prepaid expenses in the invoice lines or distributions.
  • C. You must provide a start date and the accrual account for the prepaid expenses in the ivoice lines or distributions.
  • D. You must provide the accrual account for the prepaid expenses in the invoice lines or distributions.


Answer : D

Your company policy requires that receipts be attached to expense report items before reimbursement can be made.
Which two statements are true about the association of a receipt to an expense report?

  • A. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.
  • B. Receipts are not required if the expense item falls within Per Diem Rates.
  • C. Expenses do not create payment requests for expense reports that have missing or overdue receipts.
  • D. An expense report may require original, imaged, or both types of receipts.


Answer : CD

You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid?

  • A. Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero.
  • B. Both the invoice and the credit memo are paid and a refund of $25 USD is created.
  • C. Both the invoice and credit memo are included in the payment process request for a payment amount of $0 USD. The credit memo is partially paid with a remaining credit of $25 USD.
  • D. Both the invoice and the credit memo are selected and the Payment Process Request requires attention.


Answer : C

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. Payables Manager can release payment holds in Payables.
  • C. The employee"™s supervisor can manually release the hold.
  • 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.


Answer : DE

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


Answer : A

You want to have an invoice line automatically distributed across multiple cost centers. For example, you want your monthly utility bill allocated across multiple cost centers based on a percentage.
Select two methods to achieve this.

  • A. Customize the Subledger Accounting rules to allocate costs.
  • B. Define a distribution set and assign it manually to the invoice.
  • C. Enter the invoice in Payables and then use general ledger"™s Calculation Manager to allocate the costs.
  • D. Define a distribution set and assign it to the supplier.


Answer : AB

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


Answer : A

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Total 77 questions