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Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:

1. What are the three prerequisites for applying a prepayment to an invoice?

A) The prepayment has the same requester as the invoice.
B) The prepayment has the same payment term as the invoice.
C) The prepayment has the same invoice currency as the invoice.
D) The prepayment has the same supplier number as the invoice.
E) The prepayment has the same payment currency as the invoice.


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

A) Held from Approval
B) Initiated
C) Rejected
D) Required
E) Resubmit for Approval


3. A supplier is using a payment term where the total amount is due on the 10th day of the month; two months ahead with cut off day of 20. The invoice date terms for this specific Supplier.
The supplier has raised an invoice for goods received on April 18 with invoice date of April 24. The invoice was received on April 28. Determine the due date of the invoice.

A) 10-Jun
B) 10-May
C) 24-Jul
D) 24-Jun
E) 10-Jul


4. Identity three events across the life cycle of an expense report?

A) There in seamless desktop integration through Excel for offline expense entry.
B) An invoice is created in Accounts Payable.
C) Line managers can approve the expense report submitted by the user for approval.
D) The expense items and expense reports will be tagged and can be located through the Tag Center.
E) The expenses incurred by a user while transacting business are entered in an expense report.


5. A company has a business requirement to pay small suppliers outside of the system, but it does NOT want to manually record each such transaction.
Which solution should be implemented?

A) Create batches using a clearing payment method for those multiple suppliers because the payment method does not generate a file.
B) Create payment batches using a wire payment method for those multiple suppliers and then delete the resulting electron file.
C) Create Payment batches using a check payment method for those multiple suppliers and destroy those checks.
D) Create payment batches using an electronic Funds Transfer (EFT) for those multiple suppliers and then do not send the resulting electronic file to the bank.
E) Create payment batches using bills payable functionality for those multiple suppliers and then delete the resulting electronic file.


Solutions:

Question # 1
Answer: C,D,E
Question # 2
Answer: D
Question # 3
Answer: E
Question # 4
Answer: B,C,E
Question # 5
Answer: C

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