1Z0-961 Online Practice Questions and Answers

You have 10 ledgers and 30 business units and want to leverage Reference Data Sets. What is the function of Reference Data Sets?

A. allow you to secure data by business unit

B. allow you to assign multiple business units to users in a shared service center

C. allow you to maintain sets of related data in a Data Dictionary

D. allow you to share reference data, such as payment terms, across multiple business units to avoid redundant setup

Identify two ways the invoice imaging solution works in the Cloud.

A. Customers scan the invoice on-premise and emailthe images.

B. Customers cannot use invoice imaging in the Cloud.

C. Customers scan and store the invoice images on-premise and attach them during invoice entry.

D. Customers ask their suppliers to scan and email the invoice.

E. Customers ask suppliers tosend electronic invoices.

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?

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

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

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

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

Identify what Oracle considers two best practices when setting up Payables and Receivables account access for bank reconciliation.

A. Only business units who use the same ledger as the bank accounts owning legal entity can be assigned access.

B. Business units must be granted access to the bank account.

C. Assign a few general ledger cash accountsto multiple bank accounts to facilitate book- to-bank reconciliation.

D. Allow bank accounts to be accessed by all roles and users because the default valued to secure a bank account by users and roles is No.

E. Do not assign bank accounts to business units.

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.

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

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 are resolving payment validation errors during the payment build process. Which two actions can you perform to resolve these errors?

A. Run the create accounting program.

B. Run the invoice validation program.

C. Remove the documents or payments causing the error and resume thepayment process.

D. Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.

E. Terminate the payment process request.

If you accidentally paid an invoice using Create Payment flow, can you undo the operation?

A. Cancel the invoice and create a new one.

B. yes, bycreating a credit memo to offset the payment

C. yes, by canceling the payment process from the process monitor

D. no

E. yes, by voiding the payment created

Which statement is true about selecting a bank account on the Create Payment page?

A. Bank account must match thesupplier's bank account.

B. There is not relationship between the business unit, bank, and LE. Users can pick any bank account that is setup in their system.

C. LE on the bank account should be different from the LE on the invoice.

D. LE on the bank account should be equal to LE on the invoice.

E. Users can pick any bank account as long as the bank account is tied to the business unit.