1Z0-961 Online Practice Questions and Answers

A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?

A. Manage Payable Options and Manage Invoice Options

B. Manage Payable Options and Manage common options for Payables andProcurement

C. Manage Invoice Options and Manage common options for Payables and Procurement

D. Manage common options for Payables and Procurement and Manage Procurement agents

E. Manage Invoice Options and Manage Procurement agents

You have 10 ledgers and 30 business units and want to leverage Reference Data Sets. What is the function of Reference Data Sets?

A. allow you to secure data by business unit

B. allow you to assign multiple business units to users in a shared service center

C. allow you to maintain sets of related data in a Data Dictionary

D. allow you to share reference data, such as payment terms, across multiple business units to avoid redundant setup

What is the difference between subject areas that append the word "Real Time" and those that do not?

A. The "Real Time" subject areas are based on subledger transactions and the ones that are not are based on general ledger balances.

B. The "RealTime" subject areas are based on real-time transactions in the applications, and those that are not, are based on data stored in the Oracle Business Intelligence Applications data warehouse.

C. The "Real Time" subject areas are based on real-time transactions and those that are not, are based on historical data.

D. There is no difference.

The expense auditor has chosen to Request More Information for an expense report. Select two ways the system processes this action.

A. The expense report is routed back to the approvers.

B. The employee must reply to the notification before the reimbursement process can continue.

C. The employee must resubmit the expense report.

D. Theexpense report status remains Pending Payables Approval.

You need to submit a 1099 report; your State format has changed slightly since last year. How should you submit your 1099s for the State in the current year?

A. Run and submit your 1099s because it will automatically reflect any changes.

B. Edit the 1099 template to reflect the changes, and then run and submit the 1099 report.

C. Generate a 1096 form and submit it instead.

D. Manually enter the 1099s forthe State and submit.

You have two business units, Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?

A. Assign the Expense Auditor job roles to each auditor.

B. Assign the Expense Auditor as the owner of each business unit.

C. Assign the Expense Auditor Vision Operations and Expense AuditorVision Services data roles to each Expense Auditor.

D. Use segment value security rules to secure access to business units.

You have a high volume of invoices to enter that have similar lines and do not require extensive validation. What must you do if you want to group multiple invoices in a batch during spreadsheet entry?

A. Make sure all the invoice dates are the same.

B. Assign the same Invoice Header Identifier to multiple invoices you want to group.

C. Enable the invoice option Require Invoice Grouping, andthe system automatically groups invoices entered in the same spreadsheet.

D. Enter a value in the Invoice Group field to group similar invoices into a batch.

E. Make sure the Invoice Number is the same.

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?

A. Run the process Transfer Intercompany transactions to Receivables and Transfer Intercompany transaction to Payables.

B. For the Legal Jurisdiction, Legal function "Generate intercompany invoice" should be assigned.

C. Supplier site primary pay flag and customer account bill to primary flag should be enabled.

D. Manual Approvals should be allowed for the transaction type.

E. Schedule create accounting for the intercompany process.

F. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.

What are the output formats supported for Electronic and Check format programs?

A. Electronic output format of etext,Check output format of rtf

B. Electronic output format of Text, Check output format of Text

C. Electronic output format of DATA (csv), Check output format of Zipped PDFs

D. Electronic output format of PDF, Check output format of PDF

E. Electronic output format of XML, Check output format of rtf

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