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Oracle 1z0-507 Exam Syllabus Topics:

SectionObjectives
Topic 1: Accounting and Period Close- Period end close processes
- AP accounting entries
Topic 2: Reporting and Controls- Audit and compliance controls
- AP reporting tools and analysis
Topic 3: Accounts Payable Overview- AP setup and configuration
- AP business processes overview
Topic 4: Supplier and Invoice Management- Supplier setup and maintenance
- Invoice creation and validation
- Invoice matching and approvals
Topic 5: Payments Processing- Payment processing and reconciliation
- Payment methods and formats

Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:

Question #1

What activity is performed by an Accounts Payable Manager with the duty role of Subledger Accounting Transaction Analysis Duty?

  • A. Executes all subledger accounting reports and reviews journal entries
  • B. Analyses subledger accounting transactional information
  • C. Maintains transaction object diagnostics, imports and updates subledger balances
  • D. Reviews subledger journal entries and entry lines
  • E. Creates accounting for all types of transactions
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #2

Which two Payment Controls can be overridden by creating a manual Single Payment Request?

  • A. Supplier, with the Hold All Payments option enabled
  • B. All payment methods
  • C. Allow Pre-Date
  • D. Enable Charge Deduction from Payment
  • E. Multiple Pay Alone Invoices
Reveal Solution  Discussion  0

Correct Answer: B,E  🗳️

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Question #3

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 payment batches using a wire payment method for those multiple suppliers and then delete the resulting electron file.
  • B. Create batches using a clearing payment method for those multiple suppliers because the payment method does not generate a file.
  • C. Create payment batches using bills payable functionality for those multiple suppliers and then delete the resulting electronic file.
  • D. Create Payment batches using a check payment method for those multiple suppliers and destroy those checks.
  • E. 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.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #4

What is the validation status of an invoice after it is loaded using the Launch Import Invoice program?

  • A. Validated
  • B. Revalidated
  • C. Needs revalidation
  • D. Never validated
  • E. Not required
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Question #5

Which are three key features of Expense Report Entry?

  • A. consolidated Information-Driven Work Area
  • B. approval of expense reports through Oracle Fusion Approvals Management
  • C. association of receipt image for expedited processing
  • D. scheduled processes to create card issuer and employee payment requests
  • E. contextual search and expense tracking for easy retrieval
Reveal Solution  Discussion  0

Correct Answer: A,B,C  🗳️

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