Oracle Oracle Certifications 1Z0-517 Questions & Answers

• Question 251:

  Before you can pay or create accounting entries for an invoice, the Invoice Validation process must validate the invoice. After this process is run, there is data that cannot be updated, modified, or changed. Choose three data fields that cannot be updated, modified, or changed after the Invoice Validation process has run and this invoice has a prepayment applied to it. (Choose three.)

  A. invoice date

  B. supplier site

  C. trading partner

  D. supplier number

  E. invoice description

  Correct Answer: ACD

• Question 252:

  A client has a requirement for their Payables application:

  1) AP must automatically create balancing accounting entries for invoice and payment transactions by using the expense GL Account.

  2) Stop the application of a prepayment amount to an invoice or expense report amount that is charged to a different balancing segment.

  Which two steps would satisfy both these requirements? (Choose two.)

  A. Set the Automatic Offset Method to Accrual.

  B. Set the Automatic Offset Method to Account.

  C. Set the Automatic Offset Method to Balancing.

  D. Enable the Prevent Prepayment Application Across Offset Segments option.

  E. Enable the Prevent Prepayment Application Across Account Segments option.

  F. Enable the Prevent Prepayment Application Across Balancing Segments option.

  Correct Answer: BF

• Question 253:

  Identify four functions of the Invoice Validation process. (Choose four.)

  A. applying any required holds

  B. releasing any qualifying holds

  C. applying all prepayments and discounts

  D. validating the General Ledger accounting information

  E. validating and creating accounting entries for the invoice

  F. ensuring that the total amount of all distributions equals the invoice total

  G. creating an additional distribution for any difference between the total amount of all distributions and the invoice total

  Correct Answer: ABDF

• Question 254:

  Client L has implemented Oracle Payables. They have been able to enter invoices and have them validated, but have been unable to create accounting entries. You have been asked to review the situation. Identify what could be causing this problem.

  A. The base currency has not been defined.

  B. Automatic offsets have been set to balancing.

  C. The primary accounting method has not been defined.

  D. The Payables Accounting Process was not submitted.

  E. The account for gain or loss attribute has not been enabled.

  Correct Answer: D

• Question 255:

  Which three are true regarding purchase order-matched invoices? (Choose three.)

  A. You can set up controls in your system to require you to purchase order-match each invoice.

  B. You can set up controls in your system to require you to invoice-match credit /debit memos that have been matched to a purchase order.

  C. You can set an option on a purchase order shipment that controls whether invoices must match that shipment directly or through a receipt.

  D. You set tolerances to specify the range of variance you will allow if the amounts or quantities on the invoice are less than the amounts or quantities on the purchase order or receipt.

  E. You set tolerances to specify the range of variance you will allow if the amounts or quantities on the invoice are greater than the amounts or quantities on the purchase order or receipt.

  Correct Answer: ACE

• Question 256:

  Which two statements are true if you select the QuickMatch invoice type? (Choose two.)

  A. You can use QuickMatch to match individual distribution lines.

  B. You can use QuickMatch to match individual purchase order shipments.

  C. Payables automatically completes the match to all available shipments on the purchase order.

  D. Payables automatically creates invoice distributions on the basis of the purchase order distributions.

  Correct Answer: CD

• Question 257:

  ABC Corp. requires that all invoices are matched to both a purchase order and a receipt. Invoice tolerances are set to zero. A standard purchase order is entered for consulting services. An invoice is entered and matched against a purchase order. The total invoice amount matches the distribution amount. When the steps to prepare the invoice for payment are completed, the invoice is placed on hold. The company's business policy states that all holds cannot be manually released. To pay the supplier, identify the step to be completed to remove the hold and be eligible for payment.

  A. Inspection is required because it is a three-way match.

  B. Manually release the hold because it is not a system hold.

  C. The service must be received in Purchasing because three-way matching is required.

  D. The service must be received in Accounts Payable because it is a purchase order for a service and not a commodity or item.

  E. Change the invoice tolerances in the Payables Options form to be greater than zero, so that the invoice does not go on hold again.

  Correct Answer: C

• Question 258:

  Company XYZ has received an invoice that includes freight charges. They want to distribute the freight charges proportionately to the same accounts that were charged for the items. Identify the steps they need to follow to create the freight distributions.

  A. Manually enter freight-type distributions for each account that was charged.

  B. Enable Automatically Create Freight Distribution in the invoice region in the Payables Options window.

  C. Create a freight distribution by selecting the Create Freight Distribution check box in the Invoices window.

  D. In the Distributions window, click the Allocate button, identify the distribution type as Freight, select Prorate, and select the distributions to which freight charges would be allocated.

  Correct Answer: D

• Question 259:

  Select three invoice types that can be entered ONLY in the Invoice Workbench, and CANNOT be entered

  via the Invoice Gateway. (Choose three.)

  A. debit memos

  B. credit memos

  C. prepayments

  D. PO default invoice

  E. PO standard invoice

  Correct Answer: ACD

• Question 260:

  Identify the two methods that are NOT used to enter invoice distributions. (Choose two.)

  A. using a distribution set

  B. creating through allocations

  C. matching the invoice to a shipment

  D. using the Distributions Open Interface

  E. manually entering in the distributions window

  Correct Answer: CD