1Z0-517 | Latest Oracle 1Z0-517 exam
Q121. Identify two events that take place when an invoice is matched to a purchase order. (Choose two.)
A. Tolerances are enforced.
B. The quantity billed is updated.
C. The quantity received is updated.
D. The purchase order accounting information is copied to the invoice.
Answer: BD
Q122. With Oracle Cash Management, you can reconcile payments created in Payables to your bank statements. When you reconcile payments using Oracle Cash Management, Cash Management updates the status of payments. Select the new status.
A. issued
B. updated
C. negotiable
D. reconciled
Answer: D
Q123. At the ABC.com site, Cash Management is installed along with Oracle Payables. The payables option for payment accounting is set to account for a payment both on issue and clearing. The cash clearing accounts and cash accounts are different. What accounting happens when a payment is issued?
A. Debit AP Liability, Credit Cash Clearing
B. Debit AP Liability, Credit Cash
C. Debit Cash Clearing, Credit Cash
D. Debit Cash, Credit Cash Clearing
Answer: A
Q124. Company K has identified these business requirements for their Payables operations:
1. All invoices must be part of a batch.
2. Discounts must be taken in all situations.
3. Invoices must be numbered by the system.
4. Accounting entries must be created for all invoice types.
5. All credit memos above a certain dollar amount must be approved before entry.
6. Four-way matching is enforced.
Select the profile option to be configured that will satisfy the above requirements.
A. AP: Invoice Match
B. AP: Use Invoice Batch Controls
C. AP: Enable Invoice Autonumbering
D. AP: AP Discounts Interface Start Date
E. AP: Use Invoice Accounting For Credit Memos
Answer: B
Q125. You can hold the payment of an entire invoice or part of an invoice. This hold prevents a validated invoice from being selected in a Payment Batch, and paid. Identify the Payables window where you can select the Hold check box to place the invoice on a Payment Hold.
A. Enter Payments
B. Invoice Overview
C. Invoice Distributions
D. Scheduled Payments
Answer: D
Q126. Select three types of Payables open interfaces that will import data into Payables from other applications or third-party solutions. (Choose three.)
A. PCard Open Interface
B. Supplier Open Interface
C. Matching Open Interface
D. Receiving Open Interface
E. Payments Open Interface
Answer: ABC
Q127. Identify three prerequisites for the Payables period-close process. (Choose three.)
A. resolving holds
B. reconciling bank statements
C. updating matured bills payable
D. completing all receipt processing
E. confirming or canceling all pay runs
F. making adjustments to supplier invoices interfaced to Projects
Answer: ACD
Q128. Which type of transaction uses the expenses clearing account defined in Financial Options?
A. Expense Reports
B. Credit Card Transactions
C. Miscellaneous Expenses
D. Expense-Related AP Invoices
Answer: B
Q129. Identify four purposes for which the Special Calendar is used. (Choose four.)
A. payment terms
B. recurring invoices
C. Key Indicators Report
D. automatic tax withholding
E. opening and closing payables periods
F. controlling the number of future periods
Answer: ABCD
Q130. You are working on an implementation for Accounts Payable. Many payments for small suppliers will be made outside of the system, but your client does not want to manually record them because that would be too time consuming. What would be the best solution?
A. Create Electronic Payment batches using a check payment method for those multiple suppliers and destroy those checks
B. Create electronic payment batches using an electronic payment method, such as Electronic
Funds Transfer (EFT), for those multiple suppliers and then do not send the resulting electronic file to the bank
C. Create electronic payment batches using a clearing payment method for those multiple suppliers, because this payment method does not generate a file
D. Create electronic payment batches using a wire payment method for those multiple suppliers and then delete the resulting electronic file
Answer: D