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NEW QUESTION 1
You are using the Payable’s 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 12,000and thenOn Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On 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 4,000On Feb 28th, 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 4,000On Jan 10th, Debit Prepaid Expense for 12,000 and Credit Liability for 12,000
NEW QUESTION 2
Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?
- A. General Ledger Financial Statements and the Accounts Payable and Invoice Registers
- B. Payables to Ledger Reconciliation report
- C. Payables Aging reports with the General Ledger Trial Balance report
- D. Payables Trial Balance and General Ledger Trial Balance reports
NEW QUESTION 3
Which invoice types can be included in the Create Payment flow?
- A. Standard, Credit Memo and Debit Memo
- B. Standard, Credit Memo, and Invoice Request
- C. Standard, Credit Memo and Customer Refund
- D. Standard, Debit Memo and Customer Refund
NEW QUESTION 4
Which two statements are true related to configuration package?
- A. You can export and import the custom roles from Oracle Identity Manager.
- B. You can export and import selected business object services.
- C. You can export and import selected business units.
- D. You can export and import the approval rules from the approval management engine.
- E. You can export and import the allocation rules from the allocation manage
NEW QUESTION 5
You have two business units: Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?
- A. Assign the Expense Auditor job role to each auditor and use segment value security rules to secure access to the business units.
- B. Assign the Expense Auditor job role to each auditor and associate the business unit to the role by using the Manage Data Access for Users page.
- C. Assign the Expense Auditor job role to each auditor and use a data access set to associate the business unit to the role.
- D. Assign the Expense Auditor as the owner of each business unit on the Manage Business Unit Set Assignments page.
NEW QUESTION 6
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
NEW QUESTION 7
Your company wants to generate intercompany transactions in USD but only if the amount involved is $3,000 USD or more. Which two intercompany system options are valid?
- A. Approval rules need to set the allow of the intercompany transactions to be routed to the receiver or provider.
- B. Set the intercompany system option minimum transaction amount of $3,000 USD.
- C. Intercompany invoices will be generated for the minimum accountable amount set at the payable invoice options and receivable system options.
- D. You cannot update the minimum transaction currency when intercompany currency is entered.
- E. Set the intercompany system option minimum transaction amount to $2,999.99 US
NEW QUESTION 8
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 is routed back to the approvers.
- B. The employee must reply to the notification before the reimbursement process can continue.
- C. The employee must resubmit the expense report.
- D. The expense report status remains Pending Payables Approva
NEW QUESTION 9
What happens if a company runs the Payables Unaccounted Transactions Sweep program for February 2016 if the invoices with a Hold status have an invoice date of January 20, 2016?
- A. The accounting dates of all unaccounted invoices will change to February 28, 2016, the last day of the next period.
- B. The accounting dates of all unaccounted invoices will remain unchanged at January 20, 2016.
- C. The accounting dates of all unaccounted invoices will be changed to February 1, 2016, the first day of the next period.
- D. The accounting dates of all unaccounted invoices will be changed to February 20, 2016, the same day of the next period.
NEW QUESTION 10
If you accidentally paid an invoice using Create Payment flow, can you undo the operation?
- A. Cancel the invoice and create a new one.
- B. yes, by creating a credit memo to offset the payment
- C. yes, by canceling the payment process from the process monitor
- D. no
- E. yes, by voiding the payment created
NEW QUESTION 11
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 re-validatio
NEW QUESTION 12
Which two statements are true about the Invoice Validation process?
- A. updates supplier balances
- B. validates project information
- C. creates tax lines and distributions
- D. creates withholding tax invoices, if withholding tax is enabled to create withholding tax at payment, so that you can make payment on this invoice
- E. creates accounting entries in draft
NEW QUESTION 13
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 Dat
NEW QUESTION 14
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 accounts.
- 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 extrac
NEW QUESTION 15
Which three attributes are captured during the scanning of invoice images?
- A. Invoice Date
- B. Invoice Number
- C. Terms Date
- D. PO Number
- E. Payment Method
NEW QUESTION 16
You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?
- A. Enter the invoice via a spreadshee
- B. Then, from the Manage Invoices page, query the invoice, validate it, create accounting, and then open general ledger’s Manage Journals page and post the associated invoice journal entry.
- C. Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.
- D. Enter and post a manual journal entry directly into the general ledger.
- E. Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.
NEW QUESTION 17
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 the accrual account for the prepaid expenses in the invoice lines or distributions.
- B. You must provide the accrual account for the prepaid expenses in the invoice lines or distributions.
- C. You must provide a start date and an end date for the prepaid expenses in the invoice lines or distributions.
- D. You must provide a start date, an end date, and the accrual account for the prepaid expenses in the invoice lines or distributions.
NEW QUESTION 18
You entered an invoice of 12,000 and paid it for Office Supplies. The payment was never received by the supplier, and you decide to return the entire order. What should you do?
- 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.
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