Oracle Financials Cloud: Payables 2018 Implementation Essentials

Here you have the best Oracle 1z0-1005 practice exam questions

  • You have 71 total questions to study from
  • Each page has 5 questions, making a total of 15 pages
  • You can navigate through the pages using the buttons at the bottom
  • This questions were last updated on November 4, 2024
Question 1 of 71

What is the invoice type of an unapproved, unmatched invoice that was created in the Supplier Portal?

    Correct Answer: B

    An unapproved, unmatched invoice created in the Supplier Portal is termed as a Standard invoice request. This denotes that the invoice is pending approval and has not yet met matching criteria with a purchase order or receipt, fitting the description provided in the question.

Question 2 of 71

You want your expense auditors to audit only expense reports for specific business units. How do you do this?

    Correct Answer: D

    To restrict expense auditors to specific business units, you must assign the expense auditors job role and also set the business unit security context and value to the individual user. This ensures that their auditing scope is limited only to the designated business units, adhering to the intended restrictions and controls.

Question 3 of 71

Which invoice types can be included in the Create Payment flow?

    Correct Answer: A

    The correct answer is Standard, Credit Memo, and Debit Memo because these are the types of invoices that can typically be processed together in a payment creation flow. A Standard invoice represents a regular billing statement. A Credit Memo is issued when there is a correction needed or a discount applied to a previously issued invoice, and a Debit Memo is the opposite, where additional charges need to be added to a previously issued invoice.

Question 4 of 71

A company has a requirement to default the disbursement bank account when submitting a Payment Process Request.

Which action will accomplish this?

    Correct Answer: B, D

    To default the disbursement bank account when submitting a Payment Process Request, there are two effective actions. First, defining the Disbursement Bank Account to the Payment Method in payment default rules ensures that the bank account is automatically selected based on the payment method being used. Second, creating a Payment Process Request template that includes the Disbursement Bank Account allows the system to use this template and automatically fill in the banking details, streamlining the payment process.

Question 5 of 71

Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?

    Correct Answer: D

    The proper way to configure tax for suppliers that are exempt from tax is to define a Tax Status and Rate for Exempt, define a Supplier Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification. This method ensures that all suppliers classified as exempt are treated accordingly without the need for manual intervention, and it correctly leverages fiscal classifications in the tax setup.