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 28st, 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 28st, 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 12,000 and Credit Liability for 12,000
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
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
Select three statements about the submission of invoices by suppliers using Supplier Portal.
A. A supplier can submit a single invoice against multiple purchase orders across different currencies and organizations.
B. A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed.
C. A supplier can validate the invoice after submitting it.
D. A suppliercan submit a single invoice against multiple purchase orders, provided the currency and organization for all the invoice items are the same as those on the purchase orders.
E. A supplier cannotmake changes to the invoice after submitting it.
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. The system will issue an error message after the approval has been initiated.
B. Invoice will not be processed.
C. Invoice will be sent to User 1 for approval.
D. Invoice will be auto-approved.
During your business trip to the UK, you took a taxi ride and paid for it by using your personal Visa credit card. While entering your expenses, you get a warning that a different conversion rate was applied to the taxi expense by Visa than the one used by your company.
How do you handle this situation?
A. Do not enter the taxi expense and call your Finance Department so that they can make changes in theconversation rate settings and you do not violate the allowable limit.
B. Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a different conversion rate.
C. Use the corporate-defines conversion rate even if itmeans you will not be reimbursed fully.
D. Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then, wait to get a revised statement.
What are the output formats supported for Electronic and Check format programs?
A. Electronic output format of etext,Check output format of rtf
B. Electronic output format of Text, Check output format of Text
C. Electronic output format of DATA (csv), Check output format of Zipped PDFs
D. Electronic output format of PDF, Check output format of PDF
E. Electronic output format of XML, Check output format of rtf
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. Youcan export and import the approval rules from the approval management engine.
E. You can export and import the allocation rules from the allocation manager.
When creating a check payment, from where is the payment document defaulted?
A. Legal Entity
B. Back Account
C. Bank
D. Business Unit
E. Supplier
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.
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