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Oracle 1z1-507 Exam Overview:

Oracle 1z1-507 Exam Syllabus Topics:

Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:

Question 1

An employee traveled to a different city on a business trip. During the course of travel, the employee used the corporate card provided by his company for both business and personal expenses.
Upon his return, the employee created an expense report. The company is processing the expense report as Both Pay Corporate Card Transactions.
What will the result be?

A. Only business expenses incurred using the corporate card will be reimbursed to the card Issuer.
B. All expenses incurred using a corporate card will be paid to the card Issuer.
C. Reimbursements will be made to the employee instead of the corporate card issuer.
D. Reimbursement will be made to the employee and the corporate card Issuer.
E. Both business and personal expenses will be reimbursed to the employee.

Question 2

During the invoice Import process, the implication assigns the accounting date from the first 5 finds.
Which three sources will the application check for the accounting date?

A. Invoice Line record
B. Invoice Distribution record
C. Invoice Header record
D. Purchase Order Header
E. Accounting Date parameter from the import submission

Question 3

A company has a requirement to default the disbursement bank account during the payment process request.
Which two actions will accomplish this?

A. Define the Disbursement Bank Account in the Payment Process Profile; the payment process derives the disbursement bank accounts based on the Payment Process Profile.
B. Define the Disbursement Bank Account at the Business Unit level; the payment process derives the disbursement hank accounts based on the business unit.
C. Define the Disbursement Bank Account in the Payment Method; the payment process derives the disbursement bonk accounts based on the Payment Method.
D. Create a payment Process Request template with the disbursement bank account so that it becomes the default.
E. Define the Disbursement Bank Account at the user level; the payment process derives the disbursement hank account associated with the user.

Question 4

Identify two stages in the Payment Process Request that require manual actions to complete.

A. Failed document validation
B. Retry payment creation
C. Pending Proposed Payment review
D. Pending
E. Pending installments review

Question 5

How are prepayments for invoices configured?

A. Create the prepayment terms and associate it with the prepayment Invoice.
B. Enable the Profile Option for Prepayment in the Manage Payable profile options page.
C. Enable Allow Prepayments in Define General Payables Options.
D. No additional configuration is required. Users must select the payment type as prepayment when the payment is created.
E. No additional configuration is required. Users must select the invoice type as prepayment when the invoice is created.

Solutions: