Oracle Payables Cloud Exam UPDATED
QUESTIONS AND CORRECT ANSWERS
Before you can configure
payment approval rules, your
company must define a
payment approval policy.
Which three are done by the
payment approval policy?
(Choose three.)
A. It allows approvers to review payments and decide whether or not to approve a payment.
B. It defines criteria for triggering the payment approval process, such as payment amount, bank
account, or pay group
C. It defines a list of approvers who review payments and make final payment decisions.
D. It defines when to initiate the payment approval process.
E. It determines which payments must go through the payment approval process. - CORRECT
ANSWER B. It defines criteria for
triggering the payment
approval process, such as
payment amount, bank
account, or pay group.
C. It defines a list of
approvers who review
payments and make final
payment decisions.
D. It defines when to
initiate the payment
approval process.
A Bill Payable document was
,paid but has not yet matured.
What is the status of the
payment? - CORRECT ANSWER Issued
Certain suppliers that your customer regularly deals with
are exempt from tax. How would you configure tax
for this?
A. Enable the relevant suppliers for offset tax and create an offset tax to remove the calculated tax line
from these suppliers
B. Define a tax status and rate for exempt, define a party fiscal classification of exempt, assign it to
the relevant suppliers, and write a rule to incorporate the exempt party fiscal classification.
C. Create a new tax regime for the exempt tax and subscribe the exempt suppliers to the tax regime on
the configuration options tab.
D. 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 -
CORRECT ANSWER A. Enable the relevant suppliers for offset tax and create an offset tax to
remove the calculated tax line from these suppliers
OR B OR D???
A company has a requirement
to default the disbursement
bank account when submitting
a Payment Process Request.
Which actions will accomplish
this? (Choose two.)
A. Define the disbursement bank account at the business unit level to have the payment process derive
the bank account
B. Define the disbursement bank account to the payment method in payment default rules
C. Define the disbursement bank account to every supplier
D. Create a payment process request template that includes the disbursement bank account
,E. Assign the disbursement bank account to users to have the payment process default the bank
account - CORRECT ANSWER D. Create a payment process request template that includes the
disbursement bank account
E. Assign the disbursement bank account to users to have the payment process default the bank
account
During your business trip to the UK,
you took a taxi ride and paid for it
by using your personal Visa credit
card. While entering your expenses,
you get a warning that a different
conversion rate was applied to the
taxi expense by Visa than the one
used by your company.
A. Do not enter the taxi expense and call your finance department so that they can make changes in
the conversion rate settings and you do not violate the allowable limit
B. Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then,
wait to get a revised statement
C. Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a
different conversion rate
D. Use the corporate-defined conversion rate even if it means you will not be reimbursed fully -
CORRECT ANSWER C. Overwrite the conversion rate with the one Visa provided and enter a
justification that Visa used a different conversion rate
The expense auditor has chosen to
Request More Information for an
expense report. Select two ways the
system processes this action.
(Choose two.)
A. The expense report status remains pending payables approval.
B. The expense report is routed back to the approvers.
, C. The audit can be completed before the requested information is received from the employee.
D. The employee must resubmit the expense report - CORRECT ANSWER A. The expense
report
status remains
Pending Payables
Approval.
C. The audit can be
completed before
the requested
information is
received from the
employee.
Identify three scenarios where you
are not allowed to cancel an
invoice. (Choose three.)
1. Prepayments were applied to the invoice
2. An Accounting entry has been created for the invoice
3. The invoice is validated
4. The invoice is fully or partially paid
5. The invoice was adjusted by a credit or debit memo - CORRECT ANSWER 1. Prepayments
were
applied to the
invoice
4. The invoice is fully
or partially paid
5. The invoice was
adjusted by a credit
or debit memo
QUESTIONS AND CORRECT ANSWERS
Before you can configure
payment approval rules, your
company must define a
payment approval policy.
Which three are done by the
payment approval policy?
(Choose three.)
A. It allows approvers to review payments and decide whether or not to approve a payment.
B. It defines criteria for triggering the payment approval process, such as payment amount, bank
account, or pay group
C. It defines a list of approvers who review payments and make final payment decisions.
D. It defines when to initiate the payment approval process.
E. It determines which payments must go through the payment approval process. - CORRECT
ANSWER B. It defines criteria for
triggering the payment
approval process, such as
payment amount, bank
account, or pay group.
C. It defines a list of
approvers who review
payments and make final
payment decisions.
D. It defines when to
initiate the payment
approval process.
A Bill Payable document was
,paid but has not yet matured.
What is the status of the
payment? - CORRECT ANSWER Issued
Certain suppliers that your customer regularly deals with
are exempt from tax. How would you configure tax
for this?
A. Enable the relevant suppliers for offset tax and create an offset tax to remove the calculated tax line
from these suppliers
B. Define a tax status and rate for exempt, define a party fiscal classification of exempt, assign it to
the relevant suppliers, and write a rule to incorporate the exempt party fiscal classification.
C. Create a new tax regime for the exempt tax and subscribe the exempt suppliers to the tax regime on
the configuration options tab.
D. 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 -
CORRECT ANSWER A. Enable the relevant suppliers for offset tax and create an offset tax to
remove the calculated tax line from these suppliers
OR B OR D???
A company has a requirement
to default the disbursement
bank account when submitting
a Payment Process Request.
Which actions will accomplish
this? (Choose two.)
A. Define the disbursement bank account at the business unit level to have the payment process derive
the bank account
B. Define the disbursement bank account to the payment method in payment default rules
C. Define the disbursement bank account to every supplier
D. Create a payment process request template that includes the disbursement bank account
,E. Assign the disbursement bank account to users to have the payment process default the bank
account - CORRECT ANSWER D. Create a payment process request template that includes the
disbursement bank account
E. Assign the disbursement bank account to users to have the payment process default the bank
account
During your business trip to the UK,
you took a taxi ride and paid for it
by using your personal Visa credit
card. While entering your expenses,
you get a warning that a different
conversion rate was applied to the
taxi expense by Visa than the one
used by your company.
A. Do not enter the taxi expense and call your finance department so that they can make changes in
the conversion rate settings and you do not violate the allowable limit
B. Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then,
wait to get a revised statement
C. Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a
different conversion rate
D. Use the corporate-defined conversion rate even if it means you will not be reimbursed fully -
CORRECT ANSWER C. Overwrite the conversion rate with the one Visa provided and enter a
justification that Visa used a different conversion rate
The expense auditor has chosen to
Request More Information for an
expense report. Select two ways the
system processes this action.
(Choose two.)
A. The expense report status remains pending payables approval.
B. The expense report is routed back to the approvers.
, C. The audit can be completed before the requested information is received from the employee.
D. The employee must resubmit the expense report - CORRECT ANSWER A. The expense
report
status remains
Pending Payables
Approval.
C. The audit can be
completed before
the requested
information is
received from the
employee.
Identify three scenarios where you
are not allowed to cancel an
invoice. (Choose three.)
1. Prepayments were applied to the invoice
2. An Accounting entry has been created for the invoice
3. The invoice is validated
4. The invoice is fully or partially paid
5. The invoice was adjusted by a credit or debit memo - CORRECT ANSWER 1. Prepayments
were
applied to the
invoice
4. The invoice is fully
or partially paid
5. The invoice was
adjusted by a credit
or debit memo
