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Question 1
An installment meets all of the selection criteria of a Payment Process Request but it still did not get selected for payment processing. Identify two reasons for this.
- A: The installment was manually removed.
- B: The invoice has not been accounted.
- C: The pay-through date is in a future period.
- D: The pay-through date is in a closed Payables period.
- E: The invoices need revalidation.
Question 2
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?
- A: Run the process Transfer Intercompany transactions to Receivables and Transfer Intercompany transaction to Payables.
- B: For the Legal Jurisdiction, Legal function "Generate intercompany invoice" should be assigned.
- C: Supplier site primary pay flag and customer account bill to primary flag should be enabled.
- D: Manual Approvals should be allowed for the transaction type.
- E: Schedule create accounting for the intercompany process.
- F: Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.
Question 3
After you submitted a Payment Process Request, you noticed errors. You want to void the payments.
Identify two statements that indicate when it is not possible to void a payment.
- A: A payment with the status of Issued.
- B: A payment that has already cleared the bank.
- C: A payment for an invoice with an associated Withholding Tax invoice.
- D: A payment that has been accounted and posted to General Ledger.
- E: A payment that pays a prepayment that has been applied to an invoice.
Question 4
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
Question 5
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 selected and a discount of $150 USD is applied.
- B: The installment is selected and a discount of $50 USD is applied.
- C: The installment is not selected because the due date is after the Pay Through Date.
- D: The installment is selected and no discount is applied.
- E: The installment is not selected because the discount dates are before the Pay Through Date.
Question 6
While entering an expense report for your corporate card transactions, you notice that the conversion rate defined in the Manage Conversion Rates and Policies page is not used.
What is the reason?
- A: You did not define conversion rates in the General Ledger Cloud.
- B: Only cash transactions use those settings.
- C: You did not define conversion rates for your business unit.
- D: You did not specify a default expense template.
Question 7
A Payment Process Request was submitted and errors were found in the payment file. The payment file and process were terminated.
Which two statements are true?
- A: The invoices are placed on payment hold.
- B: The status of each payment in the payment file is Cancelled and the related documents are available for future selection.
- C: The status of the payment file is Cancelled.
- D: The status of the payment file is Terminated.
- E: The status of each payment in the payment file is Terminated.
Question 8
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 the invoice in Payables.
- C: Validate the invoice in Payables.
- D: Create a payment process request in Payments.
Question 9
Identify two ways the invoice imaging solution works in the Cloud.
- A: Customers scan the invoice on-premise and email the images.
- B: Customers cannot use invoice imaging in the Cloud.
- C: Customers scan and store the invoice images on-premise and attach them during invoice entry.
- D: Customers ask their suppliers to scan and email the invoice.
- E: Customers ask suppliers to send electronic invoices.
Question 10
You are using the Payables Deferred Expense feature (also known as Multiperiod Accounting). You have entered an invoice for a three-month lease that is entered on Jan 10th. The total expense is $12,000 and it covers the rental period from Jan 1st to mar 31st.
Assuming that the rental expenses are split evenly per month and a monthly accounting calendar is used, what would the accounting entry be?
- A: On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000 and then On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000 On Feb 28st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000 On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000
- B: On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000
- C: On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000 On Feb 28st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000
- D: On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000
Question 11
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 supplier can 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 can not make changes to the invoice after submitting it.
Question 12
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 is reversed.
- D: All related withholding tax invoices are automatically voided.
- E: All related interest invoices are reversed if previously created.
Question 13
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 account values.
- 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.
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