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Oracle EBS R12.1 General Ledger Essentials

Question No: 341 – (Topic 4)

Identify the setup options that would allow the accounts payable supervisor to default an

active expense report template.

  1. System Options

  2. Financial Options

  3. Code Set Options

  4. Payables Options

  5. Expense Report Payables Options

Answer: E

Question No: 342 – (Topic 4)

Identify three statements that are true for electronic or wire payment. (Choose three.)

  1. A wire payment validates the supplier#39;s bank details.

  2. More bank accounts for a supplier or supplier site can be added.

  3. Supplier banks must be assigned to the supplier for electronic payment.

  4. Payables does not require supplier bank account information for a wire payment.

  5. Electronic payment instructs the bank to make payment to a supplier bank account.

Answer: C,D,E

Question No: 343 – (Topic 4)

Identify two implementation considerations that impact Payables during the closing process. (Choose two.)

  1. Determine how often you will run the Transfer Journal Entries to GL process.

  2. Determine the number of clearing accounts to use for Projects, Assets, and Cash Management.

  3. Choose the detail option to transfer details to General Ledger during the Create Accounting process.

  4. Review the scheduling of the Create Accounting process to ensure that this is processed before processing pay runs.

  5. Review the scheduling of the Mass Additions Create process to ensure that this is processed before the Create Accounting process.

Answer: A,B

Question No: 344 – (Topic 4)

Assume that the withholding tax is calculated at the invoice payment time and the withholding tax rate is 20%. Identify three statements with the correct withholding tax calculations. (Choose three.)

  1. invoice amount $500, withholding tax $100 (20% of $500)

  2. invoice amount $400, prepayment invoice for $200, withholding tax $4 (20% of $200)

  3. invoice amount $600, prepayment invoice for $100, withholding tax $12 (20% of $600)

  4. invoice amount $500, prepayment invoice for $250, withholding tax $50 (20% of $500 –

    $250)

  5. invoice amount $600, prepayment invoice for $100, withholding tax $100 (20% of $600 –

$100)

Answer: A,D,E

Question No: 345 – (Topic 4)

Identify three statements that are true about processing automatic withholding tax invoices and payments. (Choose three.)

  1. Withholding distributions for a paid invoice can be reversed.

  2. If an invoice is paid or partially paid, withholding distribution cannot be reversed.

  3. Payables uses the supplier number as an invoice number for the tax authority#39;s invoice.

  4. Withholding tax distributions are automatically created during invoice validation or payment processing.

  5. Payables automatically creates a withholding type distribution when a withholding tax group is entered in the Invoices window.

Answer: B,D,E

Question No: 346 – (Topic 4)

Identify three statements that are true for supplier#39;s bank details. (Choose three.)

  1. Suppliers maintain their bank details.

  2. Bank details are required only for manual check payments.

  3. Bank accounts can be added at any time for a supplier or supplier site.

  4. Payables uses bank account information to generate an electronic payment for a

    supplier.

  5. Updating bank accounts for a supplier will not affect bank accounts for existing supplier sites.

Answer: C,D,E

Question No: 347 – (Topic 4)

Identify four options for Quick Payments. (Choose four.)

  1. Create a check, save it, and print it later.

  2. Select an invoice that has not been validated.

  3. Select an invoice that has one or more holds.

  4. Create a quick payment, and select an invoice regardless of the due date.

  5. Create a quick payment, and select an invoice regardless of the payments terms.

  6. Create and print a computer-generated payment to pay a supplier for one or more invoices.

Answer: A,D,E,F

Question No: 348 – (Topic 4)

Creating multiple scheduled payments allows you to issue partial payment of an invoice or to pay an invoice over multiple dates. Identify the one invoice field that is NOT used on the Scheduled Payments tabbed page.

  1. due date

  2. bank account

  3. gross amount

  4. trading partner

  5. payment method

  6. system hold reason

Answer: D

Question No: 349 – (Topic 4)

Identify three options for preventing prepayments. (Choose three.)

  1. Release the scheduled payment.

  2. Apply one or more holds to the prepayment.

  3. Apply the holds as you would for any other invoice.

  4. Release the holds from a prepayment just as you would for any other invoice.

Answer: B,C,D

Question No: 350 – (Topic 4)

Company A has implemented Oracle Payables and Oracle General Ledger. It has a third- party (non-Oracle) application that it uses to enter employee expense reports. The company wants to interface the expense reports created in the third-party application to Oracle Payables as invoices, and pay these invoices out of Oracle Payables. Identify the Oracle Payables interface that accomplishes this.

  1. Projects Import Interface

  2. Payables Open Interface

  3. Credit Card Import Interface

  4. Expense Report Import Interface

Answer: B

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