1Z0-961 Online Practice Questions and Answers

A. Void the payment, which debits cash and credits the liability, and then issue a credit memo, which debits the liability and credits the expense.

B. Issue a credit memo, which will debit the liability and credit the expense.

C. Cancel the invoice, 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.

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

Your customer has implemented English as base language and French as a local language. The customer's bank needs the payment file to be sent to them in French. What is the relevant step to do this for preparing the payment template?

A. Create your template in English language. then upload it to Business Intelligence (BI) under thecustom/ payment folder, under the templates region. Use English locale and generate the XLIFF file. Then upload the file back under the translated region.

B. Create your template in the local language. then upload it to Business Intelligence (BI) under thecustom/payment folder, under the templates region. Use English locale and generate the XLIFF file. Then upload the file back under the translated region.

C. Create your template in English language. then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with country locale.

D. Create your template in local language. then upload it to Business Intelligence (BI) under the custom/ payment folder under the templates region with country locale.

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.

The payment build program has completed but with errors.

When submitting the payment process request, which processing option is used to review the error messages from the Manage Payment Process Request Inquiry?

A. Set the validation failure handling for documents to "show errors".

B. Set the validation failure handling for payments to "show errors".

C. Enable debug for the payment format program.

D. Set the validation failure handling for payments to "stop process for review".

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.

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.

Which two statements are true about processing corporate card expenses?

A. Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses.

B. You can process payment for credit card using Electronic funds transfer, check, or wire.

C. Usage policy for expense category tolerances does not apply to credit card expenses.

D. Conversion rate defaults apply only to cash expenses, not to corporate card expenses.

E. Card transactions will be paid directly from Expenses Cloud.

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.

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