Oracle Oracle Certifications 1Z0-1005 Questions & Answers

• Question 31:

  Before you can configure payment approval rules, your company must define a payment approval policy. Which three are done by the payment approval policy? (Choose three.)

  A. It allows approvers to review payments and decide whether or not to approve a payment.

  B. It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.

  C. It defines a list of approvers who review payments and make final payment decisions.

  D. It defines when to initiate the payment approval process.

  E. It determines which payments must go through the payment approval process.

  Correct Answer: BCD

• Question 32:

  You created a payment and before it is cashed by the supplier you mistakenly submitted a request to stop payment. Later you canceled the request to stop payment. What is the resulting payment status?

  A. Voided

  B. Negotiable

  C. Stop initiated

  D. Available

  E. Canceled

  F. Cleared

  Correct Answer: B

• Question 33:

  You have modified your tax setup and want to test the changes on actual Payables transactions. How do you validate before enabling for transaction?

  A. by creating accounting in draft mode

  B. by changing the tax status to test and then entering a payables invoice

  C. by creating a payable invoice, and by validating and reviewing the tax application

  D. Oracle Transactional Business Intelligence (OTBI)

  E. by using Tax Simulator to test

  Correct Answer: E

• Question 34:

  Your customer matches their invoices to a purchase order and have noticed that the payment terms are defaulting from the order. For some suppliers, they would like to use the payment terms from the supplier site.

  How can the customer achieve this?

  A. Enter the payment terms in the Manage Payment Options page so they default onto the invoice.

  B. Enter the payment terms at the Supplier level so they default onto the invoice.

  C. Enter the payment terms at the supplier site level so they default onto the invoice.

  D. Manually override the payment terms that have defaulted from the purchase order for those suppliers.

  E. Enter the payment terms in the Manage Invoice Options page so they default onto the invoice.

  Correct Answer: D

• Question 35:

  You need to have an invoice line automatically distributed across multiple cost centers. For example, you

  want your monthly utility bill allocated across multiple cost centers based on a percentage.

  Select two methods to achieve this. (Choose two.)

  A. Configure Subledger Accounting rules to allocate costs.

  B. Define a distribution set and assign it manually to the invoice.

  C. Choose the `All Lines' option from the Allocate menu in the invoice line area.

  D. Define a distribution set and assign it to the supplier.

  Correct Answer: AB

• Question 36:

  You have created an approval rule as follows:

  Rule 1: If the invoice amount > $1000, route it to User 1. Rule 2: If the invoice amount < $1000, auto approve it.

  Now, the user creates an invoice for $1000 and routes it for approval. What will happen?

  A. Invoice will not be processed.

  B. The system will issue an error message after the approval has been initiated.

  C. Invoice will be sent to User 1 for approval.

  D. Invoice will be auto-approved.

  Correct Answer: A

• Question 37:

  An invoice for $200 USD and a credit memo for $225 USD are due for payment and the "Apply credits up to zero amount" option is enabled for the payment process request. Which statement is correct?

  A. The payment process request pays only $200 USD alone.

  B. The payment process request applies $200 USD of the credit memo to the invoice, leaving a remaining credit of $25 USD, and creates a payment for $0 USD.

  C. The payment process request creates a refund for $225 USD and leaves the invoice unpaid.

  D. The payment process request doesn't select the invoice or credit memo for payment because the credit reduces the payment to - $25 USD, which is below zero.

  Correct Answer: B

• Question 38:

  While processing an expense report, the system placed a payment hold on the expense report. What are two ways to release payment holds? (Choose two.)

  A. The employee can manually release the hold.

  B. Payables Manager can release payment holds in Payables.

  C. The employee's supervisor can manually release the hold.

  D. The expense auditor can manually release the payment hold at his discretion.

  E. Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived.

  Correct Answer: DE

• Question 39:

  Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?

  A. Payables to Ledger Reconciliation report

  B. Payables Aging reports with the General Ledger Trial Balance report

  C. General Ledger Financial Statements and the Accounts Payable and Invoice Registers

  D. Payables Trial Balance and General Ledger Trial Balance reports

  Correct Answer: A

• Question 40:

  Your company policy requires that receipts be attached to expense report items before reimbursement can

  be made.

  Which two statements are true about the association of a receipt to an expense report? (Choose two.)

  A. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.

  B. Receipts are not required if the expense item falls within Per Diem Rates.

  C. Expenses do not create payment requests for expense reports that have missing or overdue receipts.

  D. An expense report may require original, imaged, or both types of receipts.

  Correct Answer: CD