1Z0-516 Oracle EBS R12 General Ledger Essentials Exam Set 5

In the Payment Process Requests, which action(s) can you perform on invoices that are selected
for a pay run?
1. Review unselected invoices.
2. Change the invoice amount or the discount taken.
3. Add selected invoices to the payment process request.
4. Remove selected invoices from the payment process request.
5. Recalculate interest, payment withholding, or exchange rates.

Options are :
  • 1, 2 and 5 only.
  • 1, 2, 3 and 4 only.
  • All actions 1-5.
  • 1, 3 and 4 only. (Correct)

Answer : 1, 3 and 4 only.

Which three restrictions apply when you are paying invoices with a "quick" payment type?
(Choose three.)
A. You can select only those invoices that are due.
B. If you want to pay multiple invoices, none can be a pay-alone invoice.
C. If you want to pay multiple invoices, none can be of an invoice type of prepayment.
D. You can pay only as many invoices as you defined for the remittance advice of the payment
document.
E. You can select only those invoices that have the same supplier site as the payment supplier
site you enter.

Options are :
  • A,B,C
  • B,D,E (Correct)
  • B,C,D
  • A,C,D

Answer : B,D,E

Identify three features of Payment Manager. (Choose three.)
A. updates a supplier's bank details
B. provides calculation of the interest amount
C. uses templates to select invoices to pay that meet the payment criteria
D. creates payment process request templates by specifying invoice selection criteria
E. automatically submits invoices via payment process requests to Oracle Payments for
processing and payment

Options are :
  • A,D,E
  • B,D,E
  • A,B,D
  • C,D,E (Correct)

Answer : C,D,E

To transmit an electronic payment instruction manually, perform these four steps.
1. In the Payments Manager, select the Payment Instruction tab.
2. In the Status field of the Search region, select Formatted - Ready for Transmission and click the
Go button.
3. For the applicable payment instruction, click the Take Action icon. The Transmit Payment
Instruction: <number> page is displayed.
4. From the Actions drop-down list, select Transmit and click the Go button. Arrange the steps in
the proper sequence they would be performed.

Options are :
  • 1, 2, 3, 4 (Correct)
  • 2, 3, 4, 1
  • 1, 3, 4, 2
  • 1, 3, 2, 4

Answer : 1, 2, 3, 4

Company A wants to use Oracle Internet Expenses with expense report templates.
Identify three true statements for the setup of expense report templates. (Choose three.)
A. The tax code assigned to an expense item must be Web enabled.
B. Each expense item must have an expense category assigned to it.
C. The expense report template must be enabled for Internet Expenses.
D. The GL account assigned to an expense item must have all accounting flexfield segment
values entered.

Options are :
  • A,B,C (Correct)
  • A,B,D
  • B,C,D
  • A,C,D

Answer : A,B,C

Identify three Payables system setup options. (Choose three.)
A. bill-to location
B. always take discount
C. allow void and reissue
D. create interest invoice
E. application accounting definitions

Options are :
  • C,D,E
  • A,B,C
  • B,C,D (Correct)
  • A,C,D

Answer : B,C,D

Identify the default value for the term date that would extend the time to pay an invoice, if the
payment term is net 30 days.


Options are :

  • goods received date
  • system date (Correct)
  • invoice received date
  • invoice date
  • invoice entered date

Answer : system date

Identify four options for Quick Payments. (Choose four.)
A. Create a check, save it, and print it later.
B. Select an invoice that has not been validated.
C. Select an invoice that has one or more holds.
D. Create a quick payment, and select an invoice regardless of the due date.
E. Create a quick payment, and select an invoice regardless of the payments terms.
F. Create and print a computer-generated payment to pay a supplier for one or more invoices.

Options are :
  • A,B,C,D
  • A,C,D,E
  • A,D,E,F (Correct)
  • B,D,E,F

Answer : A,D,E,F

Here is a description of a report, file, or register. Use this to review payments created for each
bank account that you use during a time period you specify. The report lists each payment, as well
as total payment amount and cleared amount of all payments. Identify the name of this standard
report.


Options are :

  • Positive Pay File
  • Payment Exceptions Report
  • Payment Process Request Status Report
  • Payment Register (Correct)

Answer : Payment Register

Which three are true about internal bank accounts? (Choose three.)
A. They are defined to disburse funds to suppliers.
B. They are defined for receiving payment from customers.
C. They are defined to disburse electronic payments from your customers.
D. They are defined for receiving electronic payments made to your suppliers.
E. Internal accounts define bank accounts for which you are the account holder.

Options are :
  • B,C,D
  • A,B,E (Correct)
  • A,B,C
  • C,D,E

Answer : A,B,E

To review All of Todays selected invoices from the payment process request in the Payment
Manager, perform these actions:
1. Navigate to the Payment Process Request component.
2. Navigate to the (B) Views window.

3. Select All of Todays from the drop-down list.
4. Click the Go button.
5. The payment process request for today is displayed.
Select the actions, arranged in their proper sequence.


Options are :

  • 1, 2, 3, 4, 5 (Correct)
  • 5, 2, 3, 4
  • 5, 2, 3, 4, 5
  • 2, 3, 4, 5

Answer : 1, 2, 3, 4, 5

When reconciling Payables and Cash Management, you may encounter clearing restrictions. Here
are three clearing restrictions for Cash Management.
1. Oracle Cash Management cannot clear bills payable that have a status of _____.
2. Oracle Cash Management clears bills payable only if the payment status is _____.
3. On or after the maturity date of the payment, you can update the status to _____.
Identify the one status for the second clearing restriction.


Options are :

  • issued
  • negotiable (Correct)
  • reconciled

Answer : negotiable

Identify the setup options that would allow the accounts payable supervisor to default an active
expense report template.


Options are :

  • System Options
  • Financial Options
  • Expense Report Payables Options (Correct)
  • Payables Options
  • Code Set Options

Answer : Expense Report Payables Options

XYZ Corp. must complete the subledger account process and perform other period-end closing
activities. Payables must validate and account for the remaining invoices that have system holds.
Select the period-end processing order to be followed assuming that there are no error
transactions.


Options are :

  • journal import, journal posting, invoice validation, create accounting, transfer journal entries to General Ledger
  • invoice validation, create accounting, transfer journal entries to General Ledger, journal import, journal posting (Correct)
  • create accounting, invoice validation, transfer journal entries to General Ledger, journal import, journal posting
  • transfer journal entries to General Ledger, submit journal import, create accounting, invoice validation, journal posting

Answer : invoice validation, create accounting, transfer journal entries to General Ledger, journal import, journal posting

Identify three options available to manage cash requirements. (Choose three.)
A. Include Only Due.
B. Change Pay Groups.
C. Select Payment Terms.
D. Select additional Pay Through Days.
E. Narrow the selection of invoices in pay run.

Options are :
  • A,C,D
  • A,B,D
  • B,D,E
  • A,D,E (Correct)

Answer : A,D,E

Identify three statements that describe Payment Terms. (Choose three.)
A. default from the supplier site
B. cannot be specified in import tables
C. can be used for electronic payments
D. can be used to schedule payments for an invoice
E. automatically calculate due dates, discount dates, and discount amounts for each invoice

Options are :
  • B,C,D
  • A,C,D
  • A,D,E (Correct)
  • C,D,E

Answer : A,D,E

The manual payment method is best described as the method of ____
 

Options are :
  • manually writing a check outside of Payables
  • paying multiple checks in a pay run
  • recording a payment made outside of Payables (Correct)
  • paying a single check within Payables

Answer : recording a payment made outside of Payables

Identify three features that speed up data entry. (Choose three.)
A. data loader
B. scan invoices
C. account aliases
D. customized folders
E. account distribution sets

Options are :
  • B,D,E
  • A,B,C
  • A,C,D
  • C,D,E (Correct)

Answer : C,D,E

Identify three statements that are true about bank and supplier payment. (Choose three.)
A. Primary bank account can be only at the supplier site.
B. Credit and debit memos are examples of payment documents.
C. Supplier's payment requires a bank account with at least one payment document.
D. Use the Banking Details page to create bank accounts for making payments to suppliers.
E. If bank accounts for a supplier site are entered, Payables defaults the supplier's active bank
accounts.

Options are :
  • A,D,E
  • B,C,D
  • A,B,C
  • C,D,E (Correct)

Answer : C,D,E

Your company accrues expense items at period end. Identify the report that must be generated
before you run your receipts' accrual period-end process.


Options are :

  • Accounts Payable Trial Balance
  • Mass Additions Create
  • Accrual Write-Off
  • Uninvoiced Receipts (Correct)

Answer : Uninvoiced Receipts

A client wants to configure Oracle AP to perform prepayments for matched invoices.
You have been hired as the implementation consultant and have been given the assignment. To
complete this assignment, choose the option that applies.


Options are :

  • No additional configuration is required. Users must set up the prepayment when the payment is created.
  • Set up the prepayment terms.
  • No additional configuration is required. Users must set up the prepayment when the invoice is created. (Correct)
  • Enable the Oracle Payables Enable Prepayments profile option.
  • Enable "Allow prepayments" in the Financial Options form.

Answer : No additional configuration is required. Users must set up the prepayment when the invoice is created.

Identify the conditions that must exist before you can apply an advance against an expense report.

Options are :
  • The prepayment type is permanent, has been validated, and not canceled.
  • The prepayment type is temporary and has been fully applied.
  • The prepayment type is temporary and has not been fully applied. (Correct)
  • The prepayment type is permanent and no active holds exist for the prepayment.

Answer : The prepayment type is temporary and has not been fully applied.

Select three processes that must be performed before closing the purchasing period. (Choose
three.)
A. Process period-end receipt accruals.
B. Run the Purchasing Account Analysis Report.
C. Process the remaining inventory transactions.
D. Run and review the Uninvoiced Receipts Report.
E. Run Transfer Journal Entries to the GL program from Receiving.

Options are :
  • B,C,D
  • C,D,E
  • B,D,E
  • A,D,E (Correct)

Answer : A,D,E

Select the four activities that are NOT part of the Payables closing process. (Choose four.)
A. confirm payment batches
B. close the Payables period
C. close the General Ledger period
D. process period-end receipt accruals
E. review the Uninvoiced Receipts Report
F. process the remaining Inventory transactions

Options are :
  • A,B,C,D
  • B,D,E,F
  • A,C,D,F
  • C,D,E,F (Correct)

Answer : C,D,E,F

Choose the process that can be performed after a pay run has been formatted.


Options are :

  • Add an invoice that Payables did not originally select.
  • Prevent payment to a supplier.
  • Print checks from the output file. (Correct)
  • Change an invoice amount.
  • Prevent payment of a particular invoice.

Answer : Print checks from the output file.

Which four selection criteria can be used when creating a pay run? (Choose four.)
A. supplier
B. due date
C. customer
D. pay group
E. invoice batch
F. payment priority

Options are :
  • B,C,D,F
  • B,C,D,E
  • A,B,C,D
  • A,D,E,F (Correct)

Answer : A,D,E,F

Company A has implemented Oracle Payables and Oracle General Ledger. It has a third-party
(non-Oracle) application that it uses to enter employee expense reports. The company wants to
interface the expense reports created in the third-party application to Oracle Payables as invoices,
and pay these invoices out of Oracle Payables. Identify the Oracle Payables interface that
accomplishes this.


Options are :

  • Projects Import Interface
  • Credit Card Import Interface
  • Expense Report Import Interface
  • Payables Open Interface (Correct)

Answer : Payables Open Interface

Identify the table used to load procurement card transactions.


Options are :

  • AP_Invoice_Lines_Interface
  • AP_Card_Codes
  • AP_Expense_Feed_Lines_All (Correct)
  • AP_Invoices_Interface

Answer : AP_Expense_Feed_Lines_All

The Quick Payment method is best described as the method of _____.


Options are :

  • creating a payment without an invoice
  • creating and printing a computer-generated payment to pay a supplier for one or more invoices (Correct)
  • recording a payment made outside of Payables
  • manually writing a check outside of Payables

Answer : creating and printing a computer-generated payment to pay a supplier for one or more invoices

Identify three statements that are true about bank account information. (Choose three.)
A. Bank accounts are used to calculate the supplier's discount.
B. Disbursement bank accounts cannot be used for payment.
C. Payables, Receivables, and/or Treasury uses bank accounts.
D. Payables uses an internal bank account to disburse funds to suppliers.

E. Receivables uses a bank account to receive payments from customers.


Options are :

  • A,C,D
  • B,D,E
  • A,B,D
  • C,D,E (Correct)

Answer : C,D,E

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