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Oracle 1z0-507 Exam Syllabus Topics:

SectionObjectives
Topic 1: Invoice Management- Invoice creation and processing
  • 1. Invoice validation and approval workflow
    • 2. Standard and recurring invoices
      - Invoice adjustments
      • 1. Invoice holds and resolutions
        • 2. Credit memos and cancellations
          Topic 2: Reporting and Controls- Payables reporting
          • 1. Standard financial reports
            • 2. Invoice and payment reporting
              - Internal controls
              • 1. Audit trails and compliance checks
                • 2. Approval rules and segregation of duties
                  Topic 3: Payments Processing- Payment execution
                  • 1. Payment reconciliation
                    • 2. Payment batches and scheduling
                      - Payment methods and formats
                      • 1. Check and wire payment processing
                        • 2. Electronic funds transfer (EFT)
                          Topic 4: 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 5: 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

                                          Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:

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

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

                                          Correct Answer: A,B,D  🗳️

                                          Explanation: Only visible for ITPassLeader 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. Initiated
                                          • C. Held from Approval
                                          • D. Resubmit for Approval
                                          • E. Rejected
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A  🗳️

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

                                          A company needs to implement corporate cards with Company Pay or Both Pay Payments liability.
                                          Select three correct statements regarding corporate card implementation.

                                          • A. One clearing account can be set up for all card programs.
                                          • B. Setting up of expense clearing account is required only for Company Pay and Both Pay payment liability.
                                          • C. Specific expense clearing account can be set up per card program.
                                          • D. Payables uses the clearing account to record only the debits.
                                          Reveal Solution  Discussion  0

                                          Correct Answer: B,C,D  🗳️

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

                                          What are the three payment types?

                                          • A. Refund
                                          • B. Quick
                                          • C. Manual
                                          • D. Wire
                                          • E. Check
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A,B,C  🗳️

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

                                          Identify the search method that allows a search across expense items and expense reports using any information captured in the expense item or expense report.

                                          • A. Advanced Search
                                          • B. Tag Search
                                          • C. Secured Enterprise Search
                                          • D. Contextual Search
                                          • E. Compact Search
                                          Reveal Solution  Discussion  0

                                          Correct Answer: E  🗳️

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