1z0-334.exam. Oracle. 1z Oracle Financials Cloud: Payables 2016 Implementation Essentials. Version 1.

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1 1z0-334.exam Number: 1z0-334 Passing Score: 800 Time Limit: 120 min File Version: Oracle 1z0-334 Oracle Financials Cloud: Payables 2016 Implementation Essentials Version 1.0

2 Exam A QUESTION 1 You need to enter a high volume of users into the system. What is Oracle s recommendation to do this? A. Use the Enter a Supplier user interface and enter each user manually. B. Use the Hire an Employee user interface and enter each user manually. C. Use the spreadsheet templates available in Oracle Enterprise Repository (OER) and then import users into Cloud Applications. D. use the spreadsheet of Oracle Identity Manager (OIM) to import users. Correct Answer: C If you have batch of users that have to be created, the Oracle team can bulk load the users into the OIM Application. References: QUESTION 2 Identify three scenarios where you are not allowed to cancel an invoice. A. An accounting entry has been created for the invoice. B. The invoice was adjusted by a credit or a debit memo. C. The invoice is validated. D. The invoice is fully or partially paid. E. Prepayments were applied to the invoice. Correct Answer: BDE

3 Why can't I cancel an invoice? The invoice is: Corrected by a credit or debit memo Fully or partially paid On hold Selected for payment Matched to a purchase order with a status of Finally closed Already canceled Additional reasons that you can't cancel an invoice are as follows: You applied a prepayment to the invoice. Canceling the invoice reduces the billed quantity on the purchase order below zero. You can cancel any unapproved invoice, or an approved invoice that does not have any effective payments or posting holds. References: QUESTION 3 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 pay-through date is in a closed Payables period. B. The pay-through date is in a future period. C. The invoices need revalidation. D. The invoice has not been accounted. E. The installment was manually removed. Correct Answer: AC An installment can meet the selection criteria of a payment process request, yet not get selected for payment for one or more reasons. You can review installments that were not selected for payment, along with the reasons they were not selected, on the Not Selected tab of the Review Installments page. The reasons are as follows: Payment date in closed period Invoice needs revalidation Rejected by approver

4 Withholding tax calculation error Credit reduces payment amount below zero Invoice requires approval Invoice never validated Payment date before system date not allowed Installment on hold Supplier site on payment hold Installment manually removed Zero amount installments excluded References: QUESTION 4 You have 10 ledgers and 30 business units and want to leverage Preference 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 Correct Answer: D Reference Data Sets You begin this part of your implementation by creating and assigning reference data to sets. Make changes carefully as changes to a particular set affect all business units or application components using that set. You can assign a separate set to each business unit for the type of object that is being shared. For example, assign separate sets for payment terms, transaction types, and sales methods to your business units. Your enterprise can determine that certain aspects of your corporate policy can affect all business units. The remaining aspects are at the discretion of the business unit manager to implement. This allows your enterprise to balance autonomy and control for each business unit. For example, your enterprise holds business unit managers accountable for their profit and loss, but manages working capital requirements at a corporate level. In such a case, you can let managers define their own sales methods, but define payment terms centrally. In this example: Each business unit has its own reference data set for sales methods. One central reference data set for payment terms is assigned to all business units. References: QUESTION 5

5 Which dashboard or workarea displays the Scanned Invoices region for invoices processed through the Payables Integrated Imaging solution? A. C-level executives B. Manage Invoices page C. Payables Dashboard only D. Invoices Workarea only E. Payables Dashboard and Invoices Workarea Correct Answer: D Accounts payable specialists can view the list of scanned images for invoice entry, along with the additional routing attributes, in the Scanned Invoices region of the Invoices work area. References: QUESTION 6 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 be sent to User 1 for approval. B. Invoice will be auto-approved. C. Invoice will not be processed. D. The system will issue an error message after the approval has been initiated. Correct Answer: C QUESTION 7

6 Which two statements are true about processing corporate card expenses? A. Card transactions will be paid directly from Expenses Cloud. B. Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses. C. Conversion rate defaults apply only to cash expenses, not to corporate card expenses. D. You can process payment for credit card using Electronic funds transfer, check, or wire. E. Usage policy for expense category tolerances does not apply to credit card expenses. Correct Answer: CD Conversion rate behavior applies only to cash expenses, not to corporate card expenses. To enable your company to pay a corporate card issuer, you enter a default payment method, whether check, EFT (Electronic funds transfer), or wire, in the Address Payment Information region of the Edit Corporate Card Issuer page, as well as bank account information. References: QUESTION 8 When creating a check payment, from where is the payment document defaulted? A. Supplier B. Legal Entity C. Business Unit D. Bank E. Bank Account Correct Answer: E

7 Create Check This step shows how to create a check to pay the customer for the claim. The customer will be paid with the designated amount in Oracle Payables. Navigation: Actions > Pay in Full. Notes: Bank Account: Select BofA. Document: Select Check. References: QUESTION 9 You have created your first implementation project. You have assigned the Application Implementation Consultant role to your user. However, you are unable to create and add roles to users in Oracle Identity Management (OIM). This issue is caused because you did not assign the. A. Superuser role to your user B. IT Security Manager role to your user C. Application Implementation Manager role to your user D. Line Manager role to your user Correct Answer: C For an implementation to begin, at least one user must be provisioned with the Application Implementation Manager role, and another or the same user must be provisioned with the Application Implementation Consultant role. The Application Implementation Consultant has broad access to set up all enterprise structures. Incorrect Answers: A: The super user is not provisioned to manage users and roles. References: QUESTION 10 While entering an expense report for your corporate card transactions, you notice that the conversion rate defined in the Manage Conversion Rates and Policies

8 page is not used. What is the reason? A. Only cash transactions use those settings. B. You did not define conversion rates for your business unit. C. You did not define conversion rates in the General Ledger Cloud. D. You did not specify a default expense template. Correct Answer: A Conversion rate behavior applies only to cash expenses, not to corporate card expenses. References: QUESTION 11 Select three statements about the submission of invoices by suppliers using isupplier Portal. A. A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed. B. A supplier can validate the invoice after submitting it. C. A supplier can 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. D. A supplier can submit a single invoice against multiple purchase orders across different currencies and organizations. E. A supplier can make changes to the invoice after submitting it. Correct Answer: ABD D: (not C): You can enter a credit memo against a fully billed purchase order (use negative quantity amounts to enter a credit memo), as well as invoice against multiple purchase orders. However, the currency and organization of all items on an invoice must be the same. The organization is the entity within the buyer's company that you are invoicing. Incorrect Answers: E: After you submit an invoice, you cannot change the invoice.

9 References: QUESTION 12 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 and then validate, account, and post the invoice from the spreadsheet. B. Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option. C. 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. D. Enter and post a manual journal entry directly into the general ledger. Correct Answer: B QUESTION 13 Which statement is true about selecting a bank account on the Create Payment page? A. Users can pick any bank account as long as the bank account is tied to the business unit. B. LE on the bank account should be equal to LE on the invoice. C. LE on the bank account should be different from the LE on the invoice. D. There is no relationship between the business unit, bank, and LE. Users can pick any bank account that is setup in their system. E. Bank account must match the supplier s bank account. Correct Answer: B Note: LE = legal entity QUESTION 14 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?

10 A. Make sure the Invoice Number is the same. B. Enter a value in the Invoice Group field to group similar invoices into a batch. C. Enable the invoice option Require Invoice Grouping, and the system automatically groups invoices entered in the same spreadsheet. D. Assign the same Invoice Header Identifier to multiple invoices you want to group. E. Make sure all the invoice dates are the same. Correct Answer: C What's an invoice group? A collection of invoices that is used as a parameter for the Validate Payables Invoice process, a selection criteria for submitting a payment process request, and a parameter in some reports. If you enable the invoice option Require invoice grouping, you must associate each invoice with an invoice group. References: QUESTION 15 A Payment Process Request was submitted and errors were found in the payment file. The payment file and process were terminated. Which two statements are true? A. The status of each payment in the payment file is Terminated. B. The status of the payment file is Cancelled. C. The status of the payment file is Terminated. D. The status of each payment in the payment file is Cancelled and the related documents are available for future selection. E. The invoices are placed on payment hold. Correct Answer: CD If the payment file has been terminated and the documents payable have been returned to the source product, then the status of the Printed Payment File is Terminated. Oracle Fusion Payments informs the source product of the terminated documents payable. Then for each payment in the payment file, Payments sets the status to Canceled.

11 References: QUESTION 16 What are the two advantages of using a spreadsheet for correcting invoice import errors? A. ability to correct errors and re-import invoices directly from a spreadsheet B. identification of errors with clear error messages at the invoice header and line levels C. identification of errors with clear error messages at the invoice header level only 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: AE A: You can fix the interface table data using the Correct Import Errors spreadsheet and resubmits the import process. E: Consider using the spreadsheet to: Expedite high volume invoice entry for simple invoices that don't require extensive validation. Create invoices with similar lines. Maximize the use of spreadsheet features, such as copy and paste, or hide and unhide. References: QUESTION 17 You are using both Procurement and Financials. You want the system to automatically accrue uninvoiced receipts. Select two true statements. A. For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account. B. For period end accruals, the invoice accounting debits the expense account and credits the liability account. C. For period end accruals, the invoice accounting for inventory items debits receipt inventory and credits the uninvoiced receipts. D. For period end accruals, accounting is created at material receipt or at delivery to a final destination. Correct Answer: AB

12 A: For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account. B: Period end accrual applies only to expense items, as inventory items are always accrued on receipt. Incorrect Answers: D: For period end accrual, no accounting is created at either material receipt or at delivery to a final destination. References: QUESTION 18 You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid? A. Both the invoice and credit memo are included in the payment process request for a payment amount of $0 USD. The credit memo is partially paid with a remaining credit of $25 USD. B. Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero. C. Both the invoice and the credit memo are paid and a refund of $25 USD is created. D. Both the invoice and the credit memo are selected and the Payment Process Request requires attention. Correct Answer: A When you submit a "payment process request", you can enable the Apply credits up to zero amount payment option. Enabling the option causes the payment process to apply credits when the credits reduce the payment amount below zero. The following scenario illustrate the impact of this option. Credit Amount Greater Than Invoice Amount An invoice for 200 USD and a credit memo for 225 USD are due for payment. The following table describes the payment processing that occurs based on the setting for the Apply credits up to zero amount payment option. Assume that the Apply Credits Up to Zero Amount option is enabled. Payment processing applies 200 USD of the credit memo to the invoice and creates a payment for 0 USD. The remaining credit is 25 USD. References:

13 QUESTION 19 Which attributes on the payables invoice can be used during approval rule creation? A. company and cost center segment only B. cost center segment and supplier only C. supplier only D. company segment, cost center segment, supplier, and Attribute 1 on the invoice line Correct Answer: D QUESTION 20 The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct? A. All related interest invoices are reversed if previously created. B. All related withholding tax invoices are automatically voided. C. Any realized gain or loss previously calculated is reversed. D. Any previous accounting and payment records for an invoice are reversed. E. Voiding the payment automatically places an invoice on hold. Correct Answer: ACD D: When you void a payment, Payables automatically reverses the accounting and payment records so your general ledger will have the correct information, and so the status of the paid invoices is reset to Unpaid. Payables also reverses any realized gains or losses on foreign currency invoices recorded as paid by the payment. B: If you withhold taxes at payment time and you void a payment that paid an invoice with an associated withholding tax invoice, then Payables automatically creates a negative (reversing) invoice for the tax authority supplier to offset the amount of the tax withholding invoice. You determine when you withhold taxes by selecting the Apply Withholding Tax option in the Payables Options page. References: Oracle Payables User s Guide, Voiding Payments Using the Payments Window QUESTION 21

14 A company has a requirement to default the disbursement bank account when submitting a Payment Process Request. Which two actions will accomplish this? A. Define the Disbursement Bank Account to every supplier. B. Define the Disbursement Bank Account to the Payment Method in payment default rules. C. Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account. D. Create a Payment Process Request template that includes the Disbursement Bank Account. E. Assign the Disbursement Bank Account to users to have the payment process default the bank account. Correct Answer: DE D: You can assign the disbursement bank account and the payment process profile to all documents payable in the payment process request during the Submit Payment Process Request process. If you use a payment process request template, a disbursement bank account and a payment process profile default from the template. DE: The following options affect payment processing: (D) Create Payment Process Request Template page, Payment Attributes region: - Disbursement bank account choice list - Payment Process Profile choice list Submit Payment Process Request page, Payment Attributes region: - Disbursement bank account choice list - Payment Process Profile choice list (E) Create and Edit Payment Process Profiles pages, Usage Rules tab: - Payment Methods radio buttons - Disbursement Bank Account radio buttons - Business Units radio buttons - Currencies radio buttons References: QUESTION 22 Identify three statements that indicate the purpose of Functional Setup Manager. A. It allows you to centrally manage the close processes across subledgers and ledgers. B. it allows you to assign setup tasks to individuals with due dates where users must manually update their completion status. C. It automatically marks the completion status of tasks as Completed once they have been completed.

15 D. It automatically generates lists of setup tasks in the correct sequence with dependencies highlighted. E. It provides a central place to access and perform all of the setup steps across the applications. Correct Answer: CDE With Oracle Fusion Functional Setup Manager you can: Enter setup data through easy-to-use user interfaces available directly from the task lists. Implement all Oracle Fusion applications through a standard and consistent process. Learn about and analyze implementation requirements. Configure Oracle Fusion applications to match your business needs. Achieve complete visibility to setup requirements through guided, sequential task lists downloadable into Excel for project planning. Export and import data from one instance to another for rapid setup. Validate setup by reviewing setup data reports. References: QUESTION 23 Which three attributes are captured during the scanning of invoice images? A. Invoice Date B. Invoice Number C. Terms Date D. PO Number E. Payment Method Correct Answer: ABD For Payables invoice processing, PO number, supplier, invoice number, invoice amount, invoice date, customer taxpayer ID, and business unit are extracted as part of the predefined configurations. This figure shows the Scanned information tile on the Invoices landing page.

16 References: QUESTION 24 The expense auditor has chosen to Request More Information for an expense report. Select two ways the system processes this action. A. The expense report is routed back to the approvers. B. The expense report status remains Pending Payables Approval. C. The employee must resubmit the expense report. D. The employee must reply to the notification before the reimbursement process can continue. Correct Answer: AB

17 To request more information for an expense report, select the Request More Information option from the Actions menu in the header of the Audit Expense Report page. The employee receives a notification that includes the reason for the request, specific instructions, and any additional instructions from you. Selecting the Request More Information action results in the following: The employee doesn't need to resubmit the returned expense report. He can optionally reply to the notification. The expense report status remains Pending Payables Approval. You can complete the audit before the requested information is received from the employee. References: QUESTION 25 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. Receipts are not required if the expense item falls within Per Diem Rates. B. Expenses do not create payment requests for expense reports that have missing or overdue receipts. C. An expense report may require original, imaged, or both types of receipts. D. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report. Correct Answer: BC Your company periodically schedules and runs the Generate Overdue and Missing Receipts Notification process that generates overdue receipt notifications. If receipts are overdue and setup requires that the individual be notified, then Expenses automatically sends a notification to the individual to inform him that receipts are overdue. An expense report may require original, imaged, or both types of receipts. References: QUESTION 26 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 processes Create Intercompany transactions to Receivable and Create Intercompany transactions to Payables. B. Schedule create accounting for the intercompany process. C. Manual Approvals should be allowed for the transaction type. D. For the Legal Jurisdiction, Legal function Generate intercompany invoice should be assigned.

18 E. Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables. F. Supplier site primary pay flag and customer account bill to primary flag should be enabled. Correct Answer: E References: QUESTION 27 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. Create a payment process request in Payments. B. Validate the invoice in Payables. C. Create Accounting for the invoice in Payables. D. Transfer the data to General Ledger. Correct Answer: A Oracle Fusion Expenses provides reimbursement functionality that ensures corporate card issuers and employees are reimbursed for business expenses. Expenses uses Oracle Fusion Payables to process expense reports for reimbursement. To reimburse card issuers and employees, the expense auditor runs the Process Expense Reimbursement process and the corporate card administrator runs the process, Create Corporate Card Issuer Payment Requests. After payment requests are created in Payables, corporate card issuers and employees are paid by Oracle Fusion Payments. This figure shows the flow of data when the expense auditor runs the Process Expense Reimbursement program.

19 References: QUESTION 28 What two delivered roles can access the full functionality of Functional Setup Manager? A. Application Implementation Consultant B. Application Implementation Manager C. Functional Setup Manager Superuser D. Any Functional User E. IT Security Manager Correct Answer: AB Provision the implementation user with the Application Implementation Manager job role or the Application Implementation Consultant job role by using the Security Console Users tab. References: QUESTION 29 When submitting the Payables to General Ledger Reconciliation report, the extract did not select any data. What should you check?

20 A. Make sure you specified a Business Unit in the parameters when running the extract. B. Make sure you enabled the Reconciliation flag to all of your liability natural account values. C. Make sure you assigned a Financial Category of Accounts Payable to all your liability natural account values. D. Make sure you assign an Account parameter when running the extract to include liability accounts. Correct Answer: C You must assign a Financial Category of Accounts payable to all your liability natural account values. This is a required setup step for Payables to General Ledger reconciliation. References: QUESTION 30 When reviewing installments, what setup is required to override the supplier site on an invoice? A. Allow payee to override for third-party payments while Manage Invoice options. B. Allow the remit-to supplier override for third-party payments at Manage Invoice options. C. Allow the remit-to supplier override for third-party payments at Manage Payment options. D. Allow the remit-to supplier address override for third-party payments at Manage Invoice options. Correct Answer: B (Optional) Setting the Remit-to Supplier Override Option 1. In the Setup and Maintenance work area, search for the Define General Payables Options task list. 2. Set the scope for the Manage Invoice Options task. 3. Click Go to Task. 4. Select the Allow remit-to supplier override for third-party payments option to allow override of the remit-to supplier on the invoice. References: QUESTION 31 Your company wants to generate intercompany transactions in USD but only if the amount involved is $3,000 USD or more. Which two intercompany system options are valid?

21 A. You cannot update the minimum transaction currency when intercompany currency is entered. B. Intercompany invoices will be generated for the minimum accountable amount set at the payable invoice options and receivable system options. C. Set the intercompany system option minimum transaction amount to $ 3,000 USD. D. Approval rules need to set the allow of the intercompany transactions to be routed to the receiver or provider. E. Set the intercompany system option minimum transaction amount to $2, USD. Correct Answer: BC Define intercompany system options to set up intercompany processing rules at the enterprise level, based on your specific business needs. Minimum Transaction Amount The minimum transaction amount represents a minimum threshold intercompany transaction amount, and prevents the submission of immaterial transactions for small amounts, which are non-value added. In order to implement this rule, you must select a minimum transaction currency for processing intercompany transactions. These two system options must be related to ensure that when comparing a transaction amount to the minimum transaction amount, the two numbers are entered in the same currency, allowing for an accurate comparison. References: QUESTION 32 Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly? A. Payables Trial Balance and General Ledger Trial Balance reports B. Payables Aging reports with the General Ledger Trial Balance report C. Payables to Ledger Reconciliation report D. General Ledger Financial Statements and the Accounts Payable and Invoice Registers Correct Answer: A Payables Trial Balance Report lists and subtotals by supplier and liability account all unpaid and partially paid invoices that Payables transferred to the general ledger. Accounts Payable Trial Balance Report helps to verify that total accounts payable liabilities in Payables equal to those in the Fusion General Ledger. References:

22 trial-balance-report QUESTION 33 In what order should the import process be run when importing suppliers? A. Supplier, Supplier Site Contacts, Supplier Site, Supplier Site Assignment B. Supplier, Supplier Site Assignment, Supplier Site, Supplier Contacts C. Supplier, Supplier Site, Supplier Site Contacts, Supplier Site Assignments D. any order Correct Answer: C The following programs are used to import supplier information: 1. Import Suppliers 2. Import Supplier Sites 3. Import Supplier Site Contacts 4. Import Supplier Site Assignments When importing supplier records containing data in each table, then Suppliers must be run first, followed by the Supplier Sites import process. Once the data is inserted, the following concurrent processes must be run to create the information in Oracle Fusion Suppliers. Suppliers Import Process Supplier Sites Import Process Supplier Site Contacts Import Process Supplier Site Assignments Process References: QUESTION 34 Select three reasons why you cannot close your Payables period. A. unaccounted invoices and payments

23 B. open intercompany transactions C. unapplied prepayments D. bills payable requiring maturity E. suppliers on payment holds Correct Answer: ABD The types of exceptions reported are: Unaccounted invoices Unaccounted payment activity Open intercompany transactions Bills payable requiring maturity event and accounting Incomplete payment process requests Other exceptions References: QUESTION 35 Your customer has an electronic payment format program in use and wants all the documents to use the pay group Domestic. What should you do to achieve this? A. Define a user validation at the format program to include: Field Document pay group, condition Equal to String, value Domestic, and Field Document pay group, condition Required and value not applicable. B. Define a user validation at the format program to include: Field Document pay group, condition Equal to String, and value Domestic. C. Modify your template to hard code the value Domestic for the pay group position. D. Define a user validation at the format program to include: Field Document pay group, condition Equal to String, value Domestic, and Field Format Program Code, condition Equal to String and value as desired. Correct Answer: B

24 User-Defined Validation That Checks a Specific Condition and Value 1. Navigate as follows: Setup and Maintenance work area > All Tasks tab > Search field: Task Lists and Tasks > Name field: Payments > Search button > Define Invoicing and Payments Configuration folder > Define Disbursements folder > Manage Payment Methods task > Go to Task icon > Create icon > Create Payment Method page. 2. On the Create Payment Method page in the User-Defined Validations region, complete the fields as shown in this table for Validation 1. If you save the invoice without entering any value in the Document pay group field, Validation 1 alone, won't keep the invoice on hold. References: QUESTION 36 Identify what Oracle considers two best practices when setting up Payables and Receivables account access for bank reconciliation. A. Do not assign bank accounts to business units. B. Allow bank accounts to be accessed by all roles and users because the default value to secure a bank account by users and roles is No. C. Assign a few general ledger cash accounts to multiple bank accounts to facilitate book-to-bank reconciliation. D. Only business units who use the same ledger as the bank accounts owning legal entity can be assigned access. E. Business units must be granted access to the bank account. Correct Answer: DE

25 Account Access Payables and Receivables account access is secured by business unit. In addition to selecting the appropriate application use or uses, one or more business units must be granted access before the bank account can be used by Payables and Receivables. Only business units that use the same ledger as the bank accounts owning legal entity can be assigned access. Incorrect Answers: A, B: User and Role Security You have the option to further secure the bank account so that it can only be used by certain users and roles. The default value for secure bank account by users and roles is No. In Payables and Receivables even if the secure bank account by users and roles is No, you must have the proper business unit assigned to access a bank account. If the secure bank account by users and roles is set to Yes, you must be named or carry a role assigned to the bank account to use it. References: QUESTION 37 What is the result of voiding a payment? A. A stop payment request has been initiated to the bank. B. The payment is reconciled to the bank statement. C. The payment is no longer valid for payment. D. A bills payable payment was created but is not yet matured. Correct Answer: C A payment that was voided is no longer valid for payment. References: QUESTION 38 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 that pays a prepayment that has been applied to an invoice. B. A payment that has been accounted and posted to General Ledger.

26 C. A payment for an invoice with an associated Withholding Tax invoice. D. A payment that has already cleared the bank. E. A payment with the status of Issued. Correct Answer: AD A: You can't: Void a payment for a prepayment that's applied. You must first unapply the prepayment, then void the payment. D: If the payment is cleared in cash management then it has to be uncleared first before you can void the payment. References: QUESTION 39 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 a payable invoice, and by validating and reviewing the tax application B. Oracle Transactional Business Intelligence (OTBI) C. by changing the tax status to test and then entering a payables invoice D. by using Tax Simulator to test E. by creating accounting in draft mode Correct Answer: D Run taxes from all applicable tax regimes against a sample transaction to verify that your tax configuration and tax rules were created and applied according to your requirements. You can either create a sample transaction within Tax Simulator or copy an existing transaction. The simulated tax calculations do not affect live data. Note: The Tax Simulator is a tool for simulating the tax determination process in your tax setup. The Tax Simulator lets you preview the workings of your tax configuration before you perform tax calculations on live transactions in a subledger application. The Tax Simulator also allows you to test new tax configuration in conjunction with existing tax configuration to preview the resulting tax calculation. The Tax Simulator is a useful tool to identify the root cause when tax calculation is not what is expected on live data. References:

27 QUESTION 40 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 expenses by Visa than the one used by your company. How do you handle this situation? A. Use the corporate-defined conversion rate even if it means you will not be reimbursed fully. B. Do not enter the taxi expense and call your Finance Department so that they can make changes in the conversion rate settings and you do not violate the allowable limit. C. Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a different conversion rate. D. Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then, wait to get a revised statement. Correct Answer: C Payables uses five types of exchange rates. Payables uses exchange rates to convert invoice and payment amounts into your ledger currency. * User. Used to manually enter your own exchange rate during invoice entry or at payment time. If you use the User exchange rate type, if the Payables option Calculate User Exchange Rate is enabled, and if you are using the Invoices window or the open interface table, then Payables calculates the invoice exchange rate if you provide the Ledger Currency amount. Etc. References: