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Oracle 1z0-507 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Payables Setup and Configuration20%- Configure tax and accounting rules
- Set up supplier and supplier sites
- Configure Payables system options
- Define payment terms and payment methods
Topic 2: Overview of Oracle Fusion Payables10%- Payables concepts and architecture
- Payables dashboard and work areas
Topic 3: Expense Reports Management10%- Expense report approval workflow
- Enter and submit expense reports
- Audit and process expense reports
Topic 4: Accounting, Period Close and Reporting15%- Create accounting entries
- Transfer to General Ledger
- Run Payables reports and analytics
- Manage accounting periods
Topic 5: Invoice Processing25%- Prepayments and credit memos
- Invoice matching and holds resolution
- iSupplier Portal invoice entry
- Enter and validate invoices
Topic 6: Payments Processing20%- Create and manage payment process requests
- Stop and void payments
- Single payments and batch payments
- Payment formats and bank integration

Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:

Question #1

Identify three correct statements about Invoice Approval.

  • A. You can NOT define different approval rules for purchase order matched and unmatched invoice.
  • B. Invoice approval uses Oracle Approval Management to determine who approves invoices and how they will be routed to different approval levels.
  • C. You can define different approval rules for purchase order matched and unmatched Invoices.
  • D. Approval rules can be set up at position, job, and supervisory hierarchy levels depending on approval needs.
  • E. Invoice approval is required for customer refund payment requests.
Reveal Solution  Discussion  0

Correct Answer: A,B,E  πŸ—³οΈ

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Question #2

What is the validation status of an invoice after it is loaded using the Launch Import Invoice program?

  • A. Never validated
  • B. Revalidated
  • C. Needs revalidation
  • D. Validated
  • E. Not required
Reveal Solution  Discussion  0

Correct Answer: A  πŸ—³οΈ

Question #3

Which three options are used to sort the Unaccounted Transaction Report?

  • A. Transaction Type
  • B. Transaction Date
  • C. Transaction Source
  • D. Transaction Number
  • E. Transaction Currency
Reveal Solution  Discussion  0

Correct Answer: A,D,E  πŸ—³οΈ

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Question #4

Which hold type prevents accounting of a foreign currency invoice if the conversion rate is missing?

  • A. Distribution Variance hold
  • B. Unmatched Invoices hold
  • C. Incorrect Conversion Rate hold
  • D. Invoice Amount Limit hold
  • E. No Rate hold
Reveal Solution  Discussion  0

Correct Answer: E  πŸ—³οΈ

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Question #5

Which two receipts modifications are displayed in the Payables Matched and Modified Receipts Report?

  • A. Substitution Products
  • B. Product Returned to Supplier
  • C. Damage made during Receiving Inspection and Transfer to Stores
  • D. Product rejected during Quality Check
  • E. Quantity received was incorrectly recorded
Reveal Solution  Discussion  0

Correct Answer: C,E  πŸ—³οΈ

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