Passed 1Z0-961 with 1Z0-961 Oracle Financials Cloud: Payables 2017 Implementation Essentials

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Share some Software as a Service – Oracle Enterprise Resource Planning Cloud 1Z0-961 exam questions and answers below.
You want your expense auditors to audit only expenses reports for specific business units. How do you do this?
A. Create a custom duty role and assign the data roles to each auditor.
B. Assign the auditors specific data roles for the corresponding business units.
C. Create your own audit extension rules that correspond to the business unit.
D. Make auditors the managers of the corresponding business unit to route expense reports properly.
Answer: B

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?
A. The accounting dates of all unaccounted invoices will change to February 28, 2016, the last day of the nextperiod.
B. The accounting dates of all unaccounted invoices will remain unchanged at January 20, 2016.
C. The accounting dates of all unaccounted invoices will be changed to February 1, 2016, the first day of the next period.
D. The accounting dates of all unaccounted invoices will be changed to February 20, 2016, the same day of the next period.
Answer: A

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?
A. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000and thenOn Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On Feb 28st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000
B. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000
C. On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On Feb 28st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000
D. On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000
Answer: A

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.
A. The installment was manually removed.
B. The invoice has not been accounted.
C. The pay-through date is in a future period.
D. The pay-through date is in a closedPayables period.
E. The invoices need revalidation.
Answer: A,E

Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?
A. The purchase order payment term cannot be overridden.
B. The user needs to manually change the payment term on the invoice to match the purchase order payment term.
C. The user needs to specify which payment term to use.
D. The payment termof the invoice overrides the purchase order payment term.
E. The payment term of the purchase order overrides the invoice payment term.
Answer: B

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