1z0-517 sample questions

Question 1

You can hold the payment of an entire invoice or part of an invoice. This hold prevents a validated invoice from being selected in a Payment Batch, and paid.

Identify the Payables window where you can select the Hold check box to place the invoice on a Payment Hold.

Accepted Answer

Scheduled Payments

Answer

Enter Payments

Answer

Invoice Overview

Answer

Invoice Distributions

Question 2

Assume that the withholding tax is calculated at the invoice payment time and the withholding tax rate is 20%. Identify three statements with the correct withholding tax calculations. (Choose three.)

Accepted Answer

Invoice amount $500, withholding tax $100 (20% of $500)

Accepted Answer

Invoice amount $500, prepayment invoice for $250, withholding tax $50 (20% of $500 - $250)

Accepted Answer

Invoice amount $600, prepayment invoice for $100, withholding tax $100 (20% of $600 - $100)

Answer

Invoice amount $400, prepayment invoice for $200, withholding tax $4 (20% of $200)

Answer

Iinvoice amount $600, prepayment invoice for $100, withholding tax $12 (20% of $600)

Question 3

Identify three true statements about the invoice approval workflow. (Choose three.)

Accepted Answer

If an approver rejects the invoice, the Workflow program ends.

Accepted Answer

If an approver does not respond within the time you specify, the Workflow requests approval from that person’s manager.

Accepted Answer

If an approver approves the invoice, the invoice goes to the next person in the approver list until all required people approve the invoice.

Answer

If an approver does not respond within the time you specify, Workflow routes the invoice back to the originator.

Answer

If the invoice amount is chanaged after the invoice is already submitted to the approval process or after the process is complete, the system does not automatically resubmit the invoice for approval.

Question 4

Identify three open interfaces used to import data into Payables from other applications or third- party solutions. (Choose three.)

Accepted Answer

Payables PCard Open Interface

Accepted Answer

Payables Supplier Open Interface

Accepted Answer

Payables Credit Card Open Interface

Answer

Payables Lease Open Interface

Answer

Payables iSupplier Open Interface

Answer

Payables Payments Open Interface

Question 5

Payable lists four seeded payment methods. They are check, outsourced check, electronic, and wire. Choose the correct description for wire.

Accepted Answer

a funds transfer initiated by contracting the bank and requesting wire payment to the bank of a supplier.

Answer

a paper check to print and send to a supplier

Answer

an EFT, EDI, or XML to the bank of a supplier

Answer

transmission of payment information to an external party, such as your bank, that prints checks on your behalf.

Question 6

Subledger Accounting is a rule-based accounting engine that centralizes accounting for Oracle E- Business Suite Release 12 products.

Select the Oracle application that is NOT a Subledger Accounting module.

Accepted Answer

General Ledger

Answer

Assets

Answer

Payables

Answer

Purchasing

Answer

Receivables

Question 7

Here are four examples of Payments. Three are temporary prepayments. Select the permanent prepayment.

Accepted Answer

A supplier sends you an expense report.

Answer

Another supplier is paid for a lease deposit for which you do not expect to be invoiced.

Answer

Another supplier sends you an invoice referencing a prepayment, so that the hotel catering bill may be paid.

Answer

Another supplier sends an invoice that references a prepayment. The supplier further reduces the amount of the invoice by the amount of the prepayment and tax.

Question 8

At your client site, Cash Management is installed along with Oracle Payables. The Payables option for payment accounting is set to account for a payment both on issue and clearing. The cash clearing accounts and cash accounts are different.

What accounting happens when a payment is issued?

Accepted Answer

debit AP liability, credit cash clearing

Answer

debit AP liability, credit cash

Answer

debit cash clearing, credit cash

Answer

debit cash, credit cash clearing

Question 9

You are creating new suppliers for XYZ Corp. Identify four regions that are entered only at the supplier level. (Choose four.)

Accepted Answer

tax details

Accepted Answer

organization

Accepted Answer

address book

Accepted Answer

contact directory

Answer

surveys

Answer

invoice management

Answer

products and services

Question 10

Identify three processes that you must run before closing your Payables period. (Choose three.)

Accepted Answer

Expense Report Export

Accepted Answer

Period Close Exceptions Report

Accepted Answer

The Transfer Journal Entries to GL program

Answer

Payables Open Interface Import

1z0-517 Sample Questions & Answers

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1z0-517 Sample Questions & Answers

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