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Oracle Financials Cloud 1Z0-961 Free Online Test

Cloud-exams real Oracle Financials Cloud 1Z0-961 test questions share Oracle Cloud Certification 1Z0-961 free online test. Currently, Oracle Certification 1Z0-961 exam online test only provide 20 questions. Answer one question correctly, you can get 5 points. The content of these questions are the latest 1Z0-961 exam questions. Please feel free to test your skill level.

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Now, begin to test:

1. An installment meets all of the selection criteria of a Payment Process Request but it still did not get selected for payment processing. Identify two reasons for this.

 
 
 
 
 

2. You are using the Payable’s Deferred Expense feature (also known as Multiperiod Accounting). You have entered an invoice for a three-month lease that is entered on Jan 10th. The total expense is $12,000 and it covers the rental period from Jan 1st to mar 31st.
Assuming that the rental expenses are split evenly per month and a monthly accounting calendar is used, what would the accounting entry be?

 
 
 
 

3. Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?

 
 
 
 
 

4. Which two setups are required to ensure the same tax is applied on both intercompany payable and receivable invoice?

 
 
 
 
 

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

 
 
 
 

6. The payment build program has completed but with errors.
When submitting the payment process request, which processing option is used to review the error messages from the Manage Payment Process Request Inquiry?

 
 
 
 

7. You want to have an invoice line automatically distributed across multiple cost centers. For example, you want your monthly utility bill allocated across multiple cost centers based on a percentage.
Select two methods to achieve this.

 
 
 
 

8. Which two statements are true when you are using the Intercompany Reconciliation Process?

 
 
 
 
 

9. What happens if a company runs the Payables Unaccounted Transactions Sweep program for February 2016 if the invoices with a Hold status have an invoice date of January 20, 2016?

 
 
 
 

10. Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run?

 
 
 
 
 
 

11. If you accidentally paid an invoice using Create Payment flow, can you undo the operation?

 
 
 
 
 

12. After you submitted a Payment Process Request, you noticed errors. You want to void the payments.
Identify two statements that indicate when it is not possible to void a payment.

 
 
 
 
 

13. Which component is not included in the security architecture for credit card data and bank account data encryption?

 
 
 
 
 

14. An installment for $2,000 USD is due for payment on July 31, 2016. The installment has two discounts: the first discount date is June 15, 2016 for $150 USD and the second discount date is June 30, 2016 for $50 USD.
You submit a Payment Process Request with the following criteria:
– Payment Date = June 20, 2016
– Pay Through Date = July 30, 2016
– Date Basis = Due Date
What will be the resulting status of the installment and discount?

 
 
 
 
 

15. While entering an expense report for your corporate card transactions, you notice that the conversion rate defined in the Manage Conversion Rates and Policies page is not used.
What is the reason?

 
 
 
 

16. A Payment Process Request was submitted and errors were found in the payment file. The payment file and process were terminated.
Which two statements are true?

 
 
 
 
 

17. You have successfully processed the expense reports for reimbursement and have transferred the information to Payables. What is the next step before you can pay them?

 
 
 
 

18. Identify two ways the invoice imaging solution works in the Cloud.

 
 
 
 
 

19. What is the result of voiding a payment?

 
 
 
 

20. Select three statements about the submission of invoices by suppliers using Supplier Portal.

 
 
 
 
 

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