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Oracle 1z0-507 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Accounting, Period Close and Reporting | 15% | - Run Payables reports and analytics - Transfer to General Ledger - Manage accounting periods - Create accounting entries |
| Topic 2: Overview of Oracle Fusion Payables | 10% | - Payables concepts and architecture - Payables dashboard and work areas |
| Topic 3: Payments Processing | 20% | - Single payments and batch payments - Stop and void payments - Payment formats and bank integration - Create and manage payment process requests |
| Topic 4: Expense Reports Management | 10% | - Enter and submit expense reports - Audit and process expense reports - Expense report approval workflow |
| Topic 5: Payables Setup and Configuration | 20% | - Configure tax and accounting rules - Define payment terms and payment methods - Set up supplier and supplier sites - Configure Payables system options |
| Topic 6: Invoice Processing | 25% | - Enter and validate invoices - iSupplier Portal invoice entry - Prepayments and credit memos - Invoice matching and holds resolution |
Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:
Which two receipts modifications are displayed in the Payables Matched and Modified Receipts Report?
- A. Quantity received was incorrectly recorded
- B. Substitution Products
- C. Damage made during Receiving Inspection and Transfer to Stores
- D. Product Returned to Supplier
- E. Product rejected during Quality Check
Correct Answer: A,C 🗳️
Explanation: Only visible for RealVCE members. You can sign-up / login (it's free).
Identify three scenarios where you are NOT allowed to cancel an invoice.
- A. Prepayments were applied to the invoice.
- B. The invoice is fully or partially paid.
- C. The invoice was adjusted by a credit or debit memo.
- D. The invoice is validated.
- E. An accounting entry has been created for the invoice.
Correct Answer: A,B,C 🗳️
Explanation: Only visible for RealVCE members. You can sign-up / login (it's free).
The Payment Process Request section of the Accounts Payables dashboard has a tab called Recently Completed. This tab displays all the payment process requests completed in the last_________.
- A. 15 days
- B. 10 days
- C. 21 days
- D. 7 days
- E. 30 days
Correct Answer: D 🗳️
While extracting an invoice batch, RTS fails to extract and validate an invoice in a batch. What action is needed to complete the process?
- A. Review incomplete batches using Oracle Document Capture and resubmit them after correcting the exceptions.
- B. Review incomplete batches using Oracle Forms Recognition Runtime Service and resubmit them after correcting the exceptions.
- C. Review incomplete batches using Enterprise Content management and submit them after correcting the exceptions.
- D. Review incomplete batches using Oracle Imaging and Process Management and resubmit them after correcting the exception.
- E. Review incomplete batches using Oracle Forms Recognition verifier and submit then after correcting the exceptions.
Correct Answer: E 🗳️
Explanation: Only visible for RealVCE members. You can sign-up / login (it's free).
Which three statements are true when a prepayment is applied to an invoice by selecting the option Include on Invoice?
- A. The prepayment amount available for application is reduced.
- B. The unpaid invoice amount is reduced by the amount of the prepayment application.
- C. The unpaid invoice amount is not affected by the prepayment application.
- D. The invoice is updated to reflect the amount paid by prepayment in the Installments tab.
- E. The prepayment amount paid is NOT updated In the Installment tab of invoice.
Correct Answer: A,B,E 🗳️
Explanation: Only visible for RealVCE members. You can sign-up / login (it's free).
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