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Q41. What are the three sections in the Payables Key Indicators Report? 

A. Recent Activity 

B. Current Activity 

C. Invoice Activity 

D. Payment Activity 

E. State of the Application 

Answer: B,C,D 

Explanation: * When you submit the.Key Indicators Report, Payables prints two reports that allow you to review Payables transaction activity, and review the current number of suppliers, invoices, payments and matching holds in your Payables system: *Use the Key Indicators Report to review your accounts payable department's productivity. The Key Indicators Report provides current activity indicators that compare current period activity with prior period activity in three major areas: suppliers, invoices, and payments. Payables further breaks down each category into basic items, exception items, and updates. The report provides the number of transactions for each indicator (such as number of automatic payments printed during a period) and amount values where applicable to the Key Indicator (such as total value of automatic payments written during a period). 


Q42. What are the two Online Accounting options available in Oracle Fusion Payables? 

A. Account in Final 

B. Account in Draft 

C. Account in Final and Transfer to Ledger 

D. Account in Draft and Transfer to Ledger 

E. Account and Post to Ledger 

Answer: A,B 

Explanation: Final will create journal entries, which can be transferred to GL. 

Draft will create journal entries, which are not final, which means they are not ready to be transferred to GL. 


Q43. What activity is performed by an Accounts Payable 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 

Answer: C 

Explanation: The Subledger Accounting Transaction Analysis Duty analyzes Subledger Accounting transactional information 

Reference: Oracle Fusion Accounting Hub Security Reference Manual 


Q44. A company has implemented the Supplier Portal 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 Process 

D. In Progress 

E. Invalid 

Answer: D 

Explanation: 

Note: 

* You can use the invoice approval workflow to automate your invoice approval process. 

The workflow determines if an invoice requires approval, and if so, automatically routes the invoice to the applicable approvers who then approve or reject the invoice. 

* Standard invoice request: 

An invoice submitted without a purchase order by a supplier through Oracle Fusion 

Supplier Portal that is pending review and approval by the appropriate persons within the deploying company. 


Q45. What invoice approval status is required to apply the invoice approval action Hold from Approval? 

A. Initiated 

B. Required 

C. Rejected 

D. Held from Approval 

E. Resubmit for Approval 

Answer: B 

Explanation: To delay the approval process for an invoice, select the Hold from approval action. You can select this action when the Approval Status on an invoice is Required. The Approval Status on the invoice is updated to Held from approval. The invoice still requires approval before it can be paid and you must initiate approval for the invoice at a later time. 

Reference; Oracle Fusion Applications Procurement, Payables, Payments, and Cash Guide, Hold from Approval 


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Q46. Identify the search method that allows a search across 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 

Answer: C 


Q47. Choose two actions that can be performed from the Invoices to Pay region of a Single Payment Request. 

A. Change Due Date 

B. Assign Conversion Rate 

C. Export toExcel 

D. Search Invoices: Available for Payment 

E. Select and Add:Invoices to Pay 

Answer: A,D 

Explanation: 

Note: Payment Process Request. A payment request that contains identifying information, optional payment instructions, the list of invoices to pay, and the amounts that should be paid on each invoice. 


Q48. 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 

Answer: A,C,D 

Explanation: 

Note: 

* A Payables Manager typically has to run multiple reports (A) or queries to identify invoice hold and approval issues and access multiple screens to resolve problems. Oracle Fusion Payables provides a Payables Manager Dashboard that pushes exceptions that occurred from automated invoice and payment processing, such as missing exchange rates on a foreign currency invoice or issues with the payment information. It also tracks the status of supplier invoices, such as invoices requiring approval, invoices on hold, suppliers on hold, and more—all from a consolidated page. The Payables Manager can then take action directly from the dashboard to resolve issues. 

*The Payables Manager Dashboard alerts you to exceptions, like missing exchange rates that occur during automated invoice and payment processing. It also tracks the status of supplier invoices and identifies which invoices require approval, as well as which invoices and payments are on hold and more 

Reference: Oracle Fusion Financials: Next Generation Financial Management Solution, Oracle White Paper, Role-Based Dashboards Deliver Work to You 


Q49. Which three statements are true when a prepayment is applied to an invoice by selecting the option Include on Invoice? 

A. The prepayment amount available for application is reduced. 

B. The unpaid invoice amount is reduced by the amount of the prepayment application. 

C. The unpaid invoice amount is not affected by the prepayment application. 

D. The invoice is updated to reflect the amount paid by prepayment in the Installments tab. 

E. The prepayment amount paid is NOT updated In the Installment tab of invoice. 

Answer: A,B,E 

Explanation: B:When a prepayment is applied to an invoice, Payables automatically creates a negative distribution and a negative scheduled payment for the prepayment in the amount of the application. A:Payables also reduces the Amount Available for prepayment by the amount applied. You can see the original amount of the prepayment in the Amount field of the Invoice Overview. Payables updates the status of an invoice paid by a prepayment to reflect the invoice as being paid by the prepayment application. 


Q50. How are prepayments for invoices configured? 

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. 

Answer: D 

Explanation: In payables there are 11 types of Invoices: 

That is 

1. Standard Invoice 

2. Debit memo 

3. Credit memo 

4. Expencess report 

5. Mixed Invoice 

6. Prepayment 

7. PO defualt 

8. With holding tax 

9. Reccuring Invoice 10.Interest Invoice 11.Quick match prepayment : advance payment you make to a suppliers or employee. If you enter Temporary for the Prepayment type field, then you can later apply prepayment to an invoice. 

Two types of prepayments are there, namely, temporary and permanent. In case of earlier one. it is treated as advance to the supplier and will be adjusted against any invoice on or after the settlement date but in case of later one, it is treated as deposit with the supplier.