Oracle AP Cloud Test Total points 45/70

Oracle AP Cloud Internal Assessment

Email address *

shbabu@deloitte.com

Name

Shivas Babu

Instructions

This evaluation consists of 70 questions to be completed in 90 minutes. You are required to

complete all questions. Each page contains 10 questions, click on next to go on next page.

Questions 1 to 10

*Complete all the questions before clicking next.

1) An invoice for $1,000 and a credit memo for $1,100 are due 1/1
for payment.Which two outcomes will result if the Apply
Credits up to Zero Amount Payment option is enabled in the
Payment and Processing options of the Payment Process
Request? *
A. Both the invoice and credit memo are included in the payment process
request

B. Neither the invoice nor the credit memo is included in the payment
process request.

C. Both the invoice and credit memo are paid fully.

D. Only the invoice is paid fully but the credit memo will have a balance of
$1,100.

E. The invoice is paid fully but the credit memo is paid partially when a
credit of $100 still remaining.

2) Identify three attributes of a Single Payment Request. * 1/1

A. one-time

B. Recurring

C. Non recurring

D. Batch Processing

3) Identify three predefined accounting event classes used by 0/1

subledger Accounting? *
A. Third Party Merger

B. Refunds

C. Payment Process Request

D. Bills Payables

E. Expense Report

4) What is matched when using 4-way matching? * 1/1

A. Purchase Order, Receipts, Inspection, Invoice

B. Purchase Order, Receipts, Time Card, Paycheck.

C. Purchase Order, Receipts, Services, Goods.

D. Purchase Order, Receipts, Invoice

5) A Payment Process Request was submitted. Subsequently, 1/1
the user realized that there are someerrors in the payment
file.The payment process was terminated by terminating the
payment file.Which three statements are true? *
A. The application sets the status of the payment file to terminated.

B. The application sets the status of the payment file to Canceled.

C. The application sets the status of each payment in the payment file to
Canceled.

D. The application sets the status of each payment in the payment file to
terminated.

E. The application informs the source product of the terminated

documents payable, unlocks the documents, and resets their status so that
the documents are available for future selection.

6) Payment runs can be streamlined by scheduling batch 1/1

payment process run with Payment Process Requests. When

can these batch processes be run? *
A. At night

B. Daily

C. After the accounting period is closed

D. As soon as possible, on a specific date and time, periodically or only

once

7) Identify the search method that allows a search across 1/1

expense items and expense reports using any information

captured in the expense item or expense report. *
A. Secured Enterprise Search

B. Tag Search

C. Compact Search

D. Contextual Search

E. Advanced Search

8) What is a payment file? * 0/1

A. A transaction that is selected for payment.

B. A transfer of funds to a supplier, customer (for refunds), or employee

(for expense reimbursements).

C. A grouping of payments to be paid the same way, along with aggregate

payment information.

D. A grouping of documents payable selected for payment processing.

9) What is the Printable Expense Report Template ? * 1/1

A. An editable dashboard template that stores the format for the expense
report printable page. You can modify the Printable Expense Report
Template to meet your company's needs by adding, modifying, or deleting
fields or columns.

B. An editable Oracle Business Intelligence Publisher Enterprise RTF

template that stores the format for the expense report printable page. You
can modify the Printable Expense Report Template to meet your
company's needs by adding, modifying, or deleting fields or columns.

C. An editable Oracle Business Intelligence Publisher Enterprise RTF

template that stores the format for the expense report printable page.
Custom coding is required to make changes to the template.

D. An editable Oracle Business Intelligence Publisher Enterprise RTF

template that stores the format for the expense report printable page. You
can modify the Printable Expense Report Template to meet your
company's needs by adding, modifying, or deleting fields or columns.

10) Which three activities are performed by the Expense 1/1

Auditor in the Auditing Work Area? *

A. Initiating and monitoring reimbursement processing

B. Managing daily upload of credit card data

C. Reviewing and reprocessing expense reports

D. Viewing payment requests created for employees and corporate card

issuers

E. Managing corporate expense policies and rules

Questions 11 to 20

*Complete all the questions before clicking next.

11) For invoices generated through the iSupplier portal and 1/1

NOT matched to purchase orders the system automatically

initiates _____. *
A. the payment.

B. the rejection.

C. the payment notification to the supplier.

D. the invoice approval workflow to approve self-service request.

12) What types of invoices are created through the iSupplier 1/1

portal? *
A. Self Service

B. Manual

C. Automated

D. Recurring

13) Which statement is true? * 1/1

A. Accounting entries can be generated in Draft or Post to Ledger modes.

After accounting in Draft mode, invoice distributions cannot be updated or
deleted, but only reversed. After accounting in Post to Ledger mode,
invoice distributions can be updated or deleted.

B. Accounting entries can be generated in Draft or Post to Ledger modes.

After accounting in Draft mode, invoice distributions are available for
further updates. After accounting in Post to Ledger mode, invoice
distribution cannot be updated or deleted, but only reversed.

C. Accounting entries can be generated Post to Ledger modes. Draft mode

is not an option.

D. Accounting entries can be generated in Draft or Post to Ledger modes.

After accounting in Draft mode, invoice distributions are available for
further updates. After accounting in Post to Ledger mode, invoice
distributions cannot be reversed.

14) Which statement is true? * 1/1

A. Each subledger transaction requiring accounting is represented by the

credit side of the subledger journal entry. The debit side of the subledger
journal entry is created through a separate process.

B. Each subledger transaction requiring accounting is represented by the

debit side of the subledger journal entry. The credit side of the subledger
journal entry is created through a separate process.

C. Each subledger transaction requiring accounting is represented by a

complete and balanced subledger journal entry.

D. Each subledger transaction requiring must be created manually.

15) Which three accounting event types are predefined for the 1/1
Accounting Event Class Prepayment Applications? *
A. Prepayment Application Adjusted

B. Prepayment Applied

C. PrepaymentAdjusted

D. Prepayment Validated

E. Prepayment Unapplied
16) Identify two items that are defined in the Common 0/1

Options in the Payables and Procurement window? *

A. Discount Allocation Method

B. Automatic Offset

C. Payment Terms

D. Apply Withholding Tax

E. Conversion Rate Type

17) Identify three invoice options that can be configured on 0/1

the Manage Invoice Options page for Self-Service Invoices. *

A. Limit the invoice to single purchase order.

B. Require validation before approval.

C. Allow invoice backdating.

D. Allow unit price change for quantity based matches.

E. Requireinvoice grouping.

18) Analyze Accounts Payables Balances enables you to 1/1

review information on _____. *

A. cash requirements, discounts, payment exceptions, or payments per
bank account.

B. cash requirements, discounts, payment exceptions, or payments per

business unit.

C. cash requirements, discounts, payment exceptions, or payments per

account number.

D. cash requirements, discounts, payment exceptions, or payments per

subledger.

19) Which two receipts modifications are displayed in the 1/1

Payables Matched and Modified Receipts Report? *

A. Quantity received was incorrectly recorded

B. Product rejected during Quality Check

C. Damage made during Receiving Inspection and Transfer to Stores.

D. Product Returned to Supplier Substitution Products

20) A company has a business requirement that all invoices 1/1

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

Questions 21 to 30

*Complete all the questions before clicking next.

21) What invoice approval status is required to apply the 0/1

invoice approval action Hold from Approval? *

A. Initiated

B. Rejected

C. Required

D.Held from Approval

E. Resubmit for Approval

22) A company has implemented the Supplier Portal 0/1

WITHOUT the invoice approval workflow. When a supplier

enters an invoice WITHOUT a purchase order match, what is
the status of the invoice request? *
A. Incomplete

B. Complete

C. In Progress

D. In Process

E. Invalid
23) Which options allow the user to automatically create 1/1

distributions for an invoice?(choose three) *

A. Matching an invoice to a purchase order or receipt

B. Distribution Sets

C. Payment Process Profile

D. Allocation of freight and miscellaneous lines

E. The Manage Distributions page

24) How are prepayments for invoices configured? * 0/1

A. Create the prepayment terms and associate it with the prepayment

Invoice.

B. Enable Allow Prepayments in Define General Payables Options.

C. Enable the Profile Option for Prepayment in the Manage Payable profile
options page.

D. No additional configuration is required. Users must select the invoice

type as prepayment when the invoice is created.

E. No additional configuration is required. Users must select the payment

type as prepayment when the payment is created.

25) How do you classify a prepayment as permanent? * 0/1

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.

26) What are the four methods of invoice entry? * 1/1

A. Electronic, Manual, Automated, Self-Service

B. Electronic, Manual, Punchcard, DVD

C. Electronic, Manual, Automated, Service

D. Electronic, Manual, Automated

27) What are the options for creating a single payment? * 1/1

A. Manual, Quick, Refund

B. Manual, Speed, Reply

C. Manual, Quick, Reply

D. Manual, Speed, Refund

28) Which section of the Payment Dashboard lists all the 0/1

processes submitted within the last 72 hours? *

A. Payment Process requests

B. Stop Payment Requests

C. Schedule Requests

D. Process Monitor

E. Supplier Sites on Payment Hold

29) What task is used to define a new Pay Group? * 0/1

A. Manage Common Options for Payables and Procurement.

B. Manage Invoice Options.

C. Manage Payment Options.

D. Manage Payables Lookups

30) Which payment type/payment status can NOT be voided? 1/1

*
A. Quick /Negotiable

B. Payment process request/Stop initiated

C. Manual/Reconciled unaccounted

D. Refund/Negotiable

E. Quick/Issued

Questions 31 to 40

*Complete all the questions before clicking next.

Untitled Section
31) Choose three features of Oracle Fusion Expenses that 1/1

facilitate streamlined expense item *

A. smart defaulting

B. classification of expenses

C. imaged receipts attachment

D. tagging and Tag Search

E. efficient approval mechanism

32) You are assigned a duty role of Supplier Profile 1/1

Management. Which three tasks tan you perform? *

A. Maintain suppliers

B. Maintain supplier payments

C. Maintain supplier Tax Identifiers PII data

D. Import and merge suppliers

E. Maintain supplier Income Tax information

33) Identify three correct statements about creating and 0/1

maintaining supplier profile entities. *

A. Tax Registrations can be created and maintained only at the supplier
level.

B. Bank Accounts can be created and maintained at supplier and supplier

site level.

C. Multiple sites can NOT be created for the same address.

D. One supplier address can be associated with one or more supplier

contacts and one contact

E. Transaction Controls are maintained at supplier site level.

34) You would like to deploy Oracle Fusion Expenses as a 0/1

stand-alone application. Which other products require

minimum setup in all cases to accomplish this? (choose
three) *
A. Oracle Fusion Tax

B. Oracle Fusion Payables

C. Oracle Fusion Payments

D. Oracle Fusion Accounts Payable

E. Oracle Fusion Subledger Accounting

35) If an approver is setup to receive email approval requests, 0/1
the approver can perform which actions from email? (choose
two) *
A. Request more information about the expense report.

B. Approve the expense report.

C. Transfer approval ownership of the expense report to another person.

D. Reject the expense report.

E. Delegate approval of the expense report.

F. Delete the expense report.

36) Identify two points to be considered when setting up the 1/1

Accounts Payable to General LedgerReconciliation. *

A. Configuring Data Security

B. Configuring User Security

C. Payables System Setup

D. Assigning a Payables Category

E. Assigning a Financial Category

37) Identify three duty roles that are granted to both the 0/1

Accounts Payable Supervisor and the Accounts Payable

Manager. *
A. Payables Business Intelligence Management Duty

B. Accounts Payable Period Status Review Duty

C. Payables Balance Analysis Duty

D. Business Intelligence Authoring Duty

E. Disbursement Process Management Duty

F. Accounts Payable Period Status Management Duty

38) What are the three benefits derived by a Payables 1/1

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

39) What activity is performed by an Accounts Payable 1/1

Manager with the duty role of Subledger Accounting

Transaction Analysis Duty? *
A. Creates accounting for all types of transactions

B. Maintains transaction object diagnostics, imports and updates

subledger balances

C. Analyses subledger accounting transactional information

D. Executes all subledger accounting reports and reviews journal entries

E. Reviews subledger journal entries and entry lines

40) Identify three fields that will be extracted from an invoice 1/1

when using the Integrated imaging solution. *

A. Purchase Order number

B. Item number

C. item price

D. Invoice amount

E. Supplier name

Questions 41 to 50

*Complete all the questions before clicking next.

41) A user, while entering an invoice for an asset for 1/1

capitalization, has entered the GL Distribution charge

Account. Identify the asset related account to which this
invoice should match in order for it to be automatically
converted into an asset in Fusion Assets *
A. Asset Cost Account

B. Asset Amortization Account

C. Depreciation Account

D. Accumulated Depreciation Account

Asset Clearing Account

42) The Payment Process Request section of the Accounts 1/1
Payables dashboard has a tab called Recently Completed.
This tab displays all the payment process requests completed
in the last_________. *
A. 21 days

B. 30 days

C. 15 days

D. 7 days

E. 10 days

43) "An installment for $1000 is due for payment on January 1/1

10, 2012. The installment has two discounts: the first

discount date is December 5, 2011 for $150 and the second
discount date us December 20, 2011 for $100. The Pay Date
Basis on the supplier site is Discount. You submit a payment
process request: Payment Date =December 5, 2011 Pay
ThroughDate =December 25, 2011 Date Basis =Pay date.
What will be the resulting status of the installment and
discount? Always Take Discount option = Enabled" *
A. The installment is NOT selected because the first discount date NOT
BEFORE the Pay Through Date.

B. The installment is selected and a discount of $150 is available because

the always Take Discount option is enabled.

C. The installment is selected and a discount of $0 is available because the

payment date is after the discount dates.

D. The installment is selected and a discount of $100 is availed because

only the latest discount date is committed.

E. The installment is NOT selected but discount of $150 is availed because

the Always Take Discount option is enabled

44) You have run the Payables to Ledger Reconciliation 1/1

Report and there is a variance reported in the ‘Accounting

Amount’ column. Which option should NOT be used to
identify the source of the variance? *
A. Posted Invoice Register

B. Beginning Payables Trial Balance Report

C. Posted Payment Register

D. Payables Invoice Aging Report

45) Which report can be run from Reports and Analytics? * 0/1

A. Payables Payment Register

B. Payables Posted Payments Register

C. Payables Invoice Aging Report

D. Payables Key Indicators Report

46) During the invoice Import process, the implication assigns 1/1
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

47) Identify two scenarios where you are NOT allowed to 0/1

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.

48) A user issued a Payment Process Request and 1/1

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

49) Which two options in a Quick Payment do NOT impede 1/1

the selection of documents? *

A. Payment Terms

B. Currency

C. Business Unit

D. Payment Method

E. Due Date
50) Your business has a requirement to balance Payables 0/1

transactions by both balancing segment and cost center

segment. How can the Payables application be configured to
meet this requirement? *
A. Enable Payables option: Automatic Offsets, All segments.

B. Enable Payables option: Automatic Offsets, balancing segment.

C. Configure an SLA journal line rule using the business flow method of
linking journal lines.

D. Configure an SLA journal line rule using the business flow method of
copying from corresponding line.

E. This is not possible in Fusion Payables.

Question 51 to 60

*Complete all the questions before clicking next.

51) A Payment Process profile is a mandatory step in Oracle 1/1

Fusion payment process that defines which of the following?

(Choose Three) *
A. Customer Information

B. Documents Payable

C. Accounting Information

D. Payment Information

E. Payment Files

52) Which of the following are supported formats in Oracle 0/1

Fusion Financials? (Choose three) *

A. IBAN

B. ISO20020

C. EDIFACT

D. IFSC

E.NACHA
53) In Oracle Fusion Payables, default distributions for 1/1

payables invoices can be defined at multiple places. Which of

the following statements is true about which source of default
distributions takes precedence, when creating an invoice? *
A. Default distributions defined at business unit level take precedence over
others.

B. Default distributions defined at " Common Options for Payables and

Procurement " level take precedence over others.

C. Default distributions at supplier level take precedence over others.

D. Default distributions at supplier Site level take precedence over others.

54) In Oracle Fusion Financials, the disbursement payment 1/1

file format is created in *

A. Notepad

B. Bank account definition

C. Email

D. BI Publisher template

55) In Oracle Fusion, Payment Method can default onto a 1/1

transaction document based on which of the following?

(Choose Two) *
A. Transaction Type

B. Supplier Site

C. Business Unit

D. Ledger

56) In Oracle Fusion Financials, the three components of 0/1

payments are: (Choose three) *

A. Choosing the payment terms

B. Disbursement Payment type format

C. Transmission format

D. Payment systems

E. Choosing the payment vendor

57) Which is the appropriate level to define reporting and 0/1

collecting tax authority, and share tax content among legal

entities and business units? *
A. Tax Regime

B. Tax Jurisdiction

C. Party Tax Profile

D. Tax Configurator Owner

58) Journal Line Rules can be used with subledger Entry Rules 0/1
Sets, which have the same: *
A. Chart Of accounts

B. Event Type

C. Event Class

D. Status

59) In Oracle Fusion Tax, organizations that provide services 1/1

that are exempt from VAT should set tax recovery rate as: *
A. 1

B. 0%

C. 0.5%

D. Depends On Jurisdiction

60) Which of the following is a mandatory task when 1/1

configuration Fusion Tax? *

A. Running Tax Reporting

B. Defining Tax Rates

C Running Tax Simulation

D. Defining Tax Rules

Questions 61 to 70

*Complete all the questions before clicking next.

61) The Accounts Payable Manager voided a Payment 0/1

Request issued for a foreign currency invoice due to

insufficient funds.Which three statements are correct? *
A. The process places the invoice on hold automatically.

B. Accounting and payment records for the invoices that were paid
automatically are reversed.

C. Any realized gain or loss on foreign currency invoices is recorded as

paid by the payment when reversed.

D. All related withholding tax invoices are automatically reversed.

E. All related interest invoices are reversed if already created.

62) A company implements Withholding Tax Setup. A user 0/1

selects the applicable tax rates, completes the invoices and

validates it. The Withholding tax is applied and a
corresponding Withholding tax invoice created.What is
required to get this result? *
A. Apply Withholding Tax at Invoice Validation and Never Create
Withholding Invoice

B. Apply Withholding Tax at Payment and Create Withholding Invoice at

Invoice Validation

C.Apply Withholding Tax at Invoice Validation and Create Withholding

Invoice at Payment

D. Apply Withholding Tax at Invoice Validation and Create Withholding

Invoice at Invoice validation

E. Apply Withholding Tax at Payment and Create Withholding Invoice at

Payment

63) An installment meets all the selection criteria of a 1/1

payment process request but still did NOT get selected for
payment.Identify two reasons for this. *
A. The pay-through date is in the closed period.

B. The pay-through date is in the future period.

C. The invoice needs revalidation.

D. The invoice has NOT been accounted.

E. The installment was manually removed.

64) In Oracle Fusion Cloud, an Invoice is made of the 1/1

following components: (Choose Four) *

A. Header Information

B. Line Information

C. Customer Information

D. Receipt Information

E. Accounting Distribution Information

F. Installment Information

65) In Oracle Fusion Cloud, every supplier should have: * 1/1

A. Classification category

B. Site Information

C. Accounting Information

D. Bank information for Payments

66) In Oracle fusion Cloud, Invoice Validation performs which 0/1

of the below task? (Choose Four) *

A. Sends the invoice for approval

B. Apply holds

C. Calculates taxes

D. Calculates withholding taxes

E. Checks for advances paid to the supplier

F. Checks for all mandatory Invoice requirements

67) During its first month end close, a company has an 0/1

Invoice with a Hold status dated 15-Jan-2012.Its accounting

practice permits the transfer of unaccounted transactions
from one period to another. What will happen if it runs the
Payables Unaccounted transactions Sweep program? *
A. The accounting date of the Invoice will change to the same day of next
period.

B. The accounting date- of the Invoice will change to the first day of next
period.

C. The accounting date of the invoice will change to the same day of the
new period specified

D. The accounting date of the invoice will change to the first day of the new
period specified.

E. The accounting date of the invoice will NOT change but the user can
close the existing period

68) In Oracle Cloud Financials, Payables Unaccounted 1/1

Transactions and sweep report should run: *

A. Before opening a new period

B. Before opening a future period

C. Before closing the current period

D. Once a year during annual closing process

69) Which of the following reports can be used for reconciling 1/1
Payables activity in a particular period? (Choose Five) *
A. Supplier Outstanding Report

B. Payables Trial Balance Report

C. Payables Posted Payment Register

D. Payables Posted Invoice Register

E. Payables to Gereral Ledger Reconciliation Report

F. Create Accounting Process

G. Payables Open Item Revaluation Report

70) In Oracle Fusion Payables, the create Accounting process 1/1
can be run in which of the following modes? (Choose Three) *
A. Intermediate

B. Final

C. Initial

D. Draft

E. Final/Post

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