Oracle Oracle Certifications 1Z0-961 Questions & Answers

• Question 61:

  While entering an expense report for your corporate card transactions, you notice that the conversion rate

  defined in the Manage Conversion Rates and Policies page is not used.

  What is the reason?

  A. You did not define conversion rates in the General Ledger Cloud.

  B. Only cash transactions use those settings.

  C. You did not define conversion rates for your business unit.

  D. You did not specify a default expense template.

  Correct Answer: B

• Question 62:

  You have successfully processed the expense reports for reimbursement and have transferred the information to Payables. What is the next step before you can pay them?

  A. Transfer the data to General Ledger.

  B. Create Accounting for theinvoice in Payables.

  C. Validate the invoice in Payables.

  D. Create a payment process request in Payments.

  Correct Answer: D

• Question 63:

  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 applies $200 USD of the credit memo to the invoice, leaving a remaining credit of $25 USD, and creates apayment for $0 USD.

  B. 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.

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

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

  Correct Answer: D

• Question 64:

  Select three reasons why you cannot close your Payables period.

  A. suppliers on payment holds

  B. bills payable requiring maturity

  C. unapplied prepayments

  D. open intercompany transactions

  E. unaccounted invoices and payments

  Correct Answer: ABE

• Question 65:

  What is the invoice type of an unapproved, unmatched invoice that was created in Fusion Supplier Portal?

  A. iSupplier Invoice

  B. Credit Memo

  C. Standard Invoice

  D. Standard invoice request

  E. Supplier payment request

  Correct Answer: D

• Question 66:

  You are using both Procurement and Financials. You want the system to automatically accrue uninvoiced receipts. Select two true statements.

  A. For period end accruals, accounting is created at material receipt or at delivery to a final destination.

  B. For period end accruals, the invoice accounting debits the expenseaccount and credits the liability account.

  C. For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account.

  D. For period end accruals, the invoice accounting for inventory items debits receipt inventory and credits the uninvoiced receipts.

  Correct Answer: BC

• Question 67:

  Which component is not included in the security architecture for credit card data and bank account data encryption?

  A. Payments master encryption key

  B. Oracle Wallet

  C. Payments subkeys

  D. Sensitive data encryption and storage

  E. Supplier master encryption key

  Correct Answer: E

• Question 68:

  A. Void the payment, which debits cash and credits the liability, and then issue a credit memo, which debits the liability and credits the expense.

  B. Issue a credit memo, which will debit the liability and credit the expense.

  C. Cancel the invoice, which debits the liability and credits the expense.

  D. Void the payment, which debits cash and credits the liability, and then cancel the invoice, which debits the liability and credits the expense.

  Correct Answer: D

• Question 69:

  You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?

  A. Enter the invoice via a spreadsheet. Then, from the Manage Invoices page, query the invoice, validate it, create accounting, and then open general ledger's Manage Journals page and post the associated invoice journal entry.

  B. Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.

  C. Enter and post a manual journal entry directly into the general ledger.

  D. Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the

  spreadsheet.

  Correct Answer: D

• Question 70:

  What are the two advantages of using a spreadsheet for correcting invoice import errors?

  A. identification of errors with clear error messages at the invoice header and line levels

  B. identification of errors with clear error messages at the invoice header level only

  C. ability to correct errors and re-import invoices directly from aspreadsheet

  D. ability to correct errors within the spreadsheet and send invoice corrections for approval

  E. ability to enter a high volume of invoices via a spreadsheet

  Correct Answer: AC