Oracle Oracle Certifications 1Z0-961 Questions & Answers

• Question 21:

  Which two statements are true when you are using the Intercompany Reconciliation Process?

  A. Transaction Summary Report will show only transactions with status received.

  B. The reconciliation period summary report will show the intercompany receivable and the intercompany payablelines generated by the intercompany balancing feature.

  C. Ledger balancing lines are generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.

  D. You must runthe Extract Intercompany Reconciliation Data job.

  E. The reconciliation period summary report will not show the intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction.

  Correct Answer: CE

• Question 22:

  You have a high volume of invoices to enter that have similar lines and do not require extensive validation. What must you do if you want to group multiple invoices in a batch during spreadsheet entry?

  A. Make sure all the invoice dates are the same.

  B. Assign the same Invoice Header Identifier to multiple invoices you want to group.

  C. Enable the invoice option Require Invoice Grouping, andthe system automatically groups invoices entered in the same spreadsheet.

  D. Enter a value in the Invoice Group field to group similar invoices into a batch.

  E. Make sure the Invoice Number is the same.

  Correct Answer: B

• Question 23:

  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 roles to each auditor.

  B. Assign the Expense Auditor as the owner of each business unit.

  C. Assign the Expense Auditor Vision Operations and Expense AuditorVision Services data roles to each Expense Auditor.

  D. Use segment value security rules to secure access to business units.

  Correct Answer: C

• Question 24:

  Which two statements are true about processing corporate card expenses?

  A. Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses.

  B. You can process payment for credit card using Electronic funds transfer, check, or wire.

  C. Usage policy for expense category tolerances does not apply to credit card expenses.

  D. Conversion rate defaults apply only to cash expenses, not to corporate card expenses.

  E. Card transactions will be paid directly from Expenses Cloud.

  Correct Answer: CD

• Question 25:

  After you submitted a Payment Process Request, you noticed errors. You want to void the payments.

  Identify two statements that indicate when it is not possible to void a payment.

  A. A payment with the status of Issued.

  B. A payment that has already cleared the bank.

  C. A payment for an invoice with an associated Withholding Tax invoice.

  D. A payment that has been accounted and posted to General Ledger.

  E. A payment that pays a prepayment that has been applied to an invoice.

  Correct Answer: BE

• Question 26:

  Identify three scenarios where you are not allowed to cancel an invoice.

  A. An accounting entry has been created for the invoice.

  B. Prepayments were applied to the invoice.

  C. The invoice was adjusted by a credit or a debit memo.

  D. The invoice is validated.

  E. The invoice is fully or partially paid.

  Correct Answer: BCE

• Question 27:

  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 account.

  B. Make sure you assigned a Financial Category of Accounts Payable to all your liability natural accountvalues.

  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 extract.

  Correct Answer: A

• Question 28:

  How will system evaluate the tolerances for expense reports?

  A. System will use absolute amount tolerance setup to do validations.

  B. System will calculate error tolerance as (|Policy Rate * (1+Error Tolerance/100|) currency precision.

  C. System will calculate error tolerance as Policy Rate * (1 + Warning Tolerance + Error Tolerance/100).

  D. System will calculate warning tolerance as Policy Rate * (1 + Warning Tolerance/100)* currency precision.

  E. System will calculate warning tolerance as Policy Rate * (1+ Warning Tolerance/100).

  Correct Answer: C

• Question 29:

  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 closedPayables period.

  E. The invoices need revalidation.

  Correct Answer: AE

• Question 30:

  An invoice for $1,000 USD and a credit memo for ($1,100) USD are due for payment. What are the two outcomes if you choose the "Apply Credits Up to Zero Amount" option when submitting a Payment Process Request?

  A. Only the invoice is paid fully but the credit memo is partially paid with a credit of ($100) USD remaining.

  B. Both the invoice and the credit memo are fully paid.

  C. Neither the invoice nor the credit memo is included in the Payment Process Request.

  D. Both the invoice and the credit memo are included in the Payment Process Request.

  Correct Answer: B