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Oracle 1z0-507 Exam Syllabus Topics:

SectionObjectives
Topic 1: Accounting and Period Close- Payables accounting entries
  • 1. Subledger accounting integration
    • 2. Invoice and payment accounting events
      - Period close activities
      • 1. Reconciliation and reporting
        • 2. Payables period close process
          Topic 2: Accounts Payable Setup and Configuration- Supplier setup and management
          • 1. Supplier and supplier site configuration
            • 2. Supplier classification and payment terms
              - Payables system configuration
              • 1. Payables options and controls
                • 2. Financial options setup
                  Topic 3: Invoice Management- Invoice creation and processing
                  • 1. Invoice validation and approval workflow
                    • 2. Standard and recurring invoices
                      - Invoice adjustments
                      • 1. Credit memos and cancellations
                        • 2. Invoice holds and resolutions
                          Topic 4: Reporting and Controls- Payables reporting
                          • 1. Invoice and payment reporting
                            • 2. Standard financial reports
                              - Internal controls
                              • 1. Audit trails and compliance checks
                                • 2. Approval rules and segregation of duties
                                  Topic 5: Payments Processing- Payment execution
                                  • 1. Payment batches and scheduling
                                    • 2. Payment reconciliation
                                      - Payment methods and formats
                                      • 1. Check and wire payment processing
                                        • 2. Electronic funds transfer (EFT)

                                          Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:

                                          Select three true statements about the Invoice Validation process.

                                          • A. updates Supplier Balance
                                          • B. creates withholding invoices
                                          • C. validates project information
                                          • D. creates tax lines and distributions
                                          • E. creates Accounting Entries
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A,B,D  🗳️

                                          Explanation: Only visible for ActualTestsIT members. You can sign-up / login (it's free).

                                          Which are three key features of Expense Report Entry?

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

                                          Correct Answer: C,D,E  🗳️

                                          Explanation: Only visible for ActualTestsIT members. You can sign-up / login (it's free).

                                          Which three attributes can be viewed for a Quick Payment from the Manage Payments page?

                                          • A. Supplier Number
                                          • B. Interest
                                          • C. Error Message
                                          • D. Ledger
                                          • E. Business Unit
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A,D,E  🗳️

                                          Explanation: Only visible for ActualTestsIT members. You can sign-up / login (it's free).

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

                                          • A. Required
                                          • B. Resubmit for Approval
                                          • C. Initiated
                                          • D. Rejected
                                          • E. Held from Approval
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A  🗳️

                                          Explanation: Only visible for ActualTestsIT members. You can sign-up / login (it's free).

                                          Which embedded analytics provides Information on expense reports without receipts?

                                          • A. Corporate Card Required Violation
                                          • B. Recurring Violations
                                          • C. Recent Similar Analytics
                                          • D. Recent Returned Reports
                                          Reveal Solution  Discussion  0

                                          Correct Answer: B  🗳️

                                          Explanation: Only visible for ActualTestsIT members. You can sign-up / login (it's free).

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