Exam Code: 1Z0-507
Exam Name: Oracle Fusion Financials 11g Accounts Payable Essentials Exam
What are the three benefits derived by a Payables Manager when implementing Oracle fusion Payables?
A. Simplified and expeditious reporting
B. Fulfilling of demands for local compliance
C. Streamlining reconciliation to the general lodger
D. Improvement in processing speed and manageability
E. Streamlining accounting policy changes
What are the three advantages of using the Spreadsheet for Import Error Correction feature?
A. Identification of errors with clear messages at the invoice header and line level that failed to import
B. Identification of errors with clear messages at invoice header only that failed to import
C. Correction of errors and reimporting invoices directly from spreadsheet
D. Correction of errors in the spreadsheet and loading but reimporting cannot be done from spreadsheet
E. Viewing invoice header and lines in the same view
A company has a business requirement that all invoices go through an approval process flow. Identify three features of the Invoice Approval workflow that meets their requirement.
A. allows automatic resubmission of an invoice if rejection occurs
B. has predefined criteria to identify which invoices require approval
C. provides automatic routing of invoices upon approval to another designated approver
D. allows for corrections to invoices to be made while still in the approval routing process
E. provides Lime limits as to how long an invoice can remain unapproved before being automatically
rerouted to the next approver
Identify three scenarios where you are NOT allowed to cancel an invoice.
A. The invoice is fully or partially paid.
B. The invoice is validated.
C. The invoice was adjusted by a credit or debit memo.
D. Prepayments were applied to the invoice.
E. An accounting entry has been created for the invoice.
Which three accounting event types are predefined for the Accounting Event Class Prepayment Applications?
A. Prepayment Application Adjusted
B. Prepayment Applied
C. Prepayment Adjusted
D. Prepayment Validated
E. Prepayment Unapplied
How do you classify a prepayment as permanent?
A. Create the prepayment invoice with the prepayment type as Permanent.
B. Leave the Apply after date field blank in the Invoice Header.
C. Deselect the Allow Prepayment Application option in the Invoice Header page.
D. Permanent prepayments are not allowed.
E. Deselect the Allow Prepayment Application option In the Invoice Line.
A user issued a Payment Process Request and subsequently realized an error in the request. Which two options show instances where the payment can NOT be voided?
A. A payment that pays a prepayment that has been applied to an invoice
B. A payment for an invoice that is already posted to General Ledger
C. A payment for an invoice which is a Withholding Tax Invoice
D. A payment that the bank has already cleared
E. A payment that has a status of Issued
Identify three statuses that appear in the Processed Tab in the Expense Report region.
B. Ready for Payment
D. Pending Your Resolution
E. Partially paid
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