16.At your client site, Cash Management is installed along with Oracle Payables. The Payables option for payment accounting is set to account for a payment both on issue and clearing. The cash clearing accounts and cash accounts are different. What accounting happens when a payment is issued?
A.Debit AP Liability, Credit Cash Clearing
B.Debit AP Liability, Credit Cash
C.Debit Cash Clearing, Credit Cash
D.Debit Cash, Credit Cash Clearing
Correct:A
17.Identify the two invoice types processed by the Payables Open Interface process. (Choose two.)
A.credit memos
B.mixed invoices
C.standard invoices
D.prepayment invoices
Correct:A C
18.What are the three options available for the parameter 'Transfer to GL Interface' when running the request 'Payables Transfer to General Ledger'? (Choose three.)
A.In Detail
B.Summarize by Invoice Date
C.Summarize by Payment Date
D.Summarize by Accounting Date
E.Summarize by Accounting Period
Correct:A D E
19.A client has two requirements for its AP application: 1) AP should automatically create balancing accounting entries for invoice and payment transactions using the expense GL Account. 2) Stop the application of a prepayment amount to an invoice or expense report amount that is charged to a different balancing segment. Which two steps would satisfy both these requirements? (Choose two.)
A.Set the Automatic Offset Method to Accrual
B.Set the Automatic Offset Method to Account
C.Set the Automatic Offset Method to Balancing
D.Enable the Prevent Prepayment Application Across Offset Segments option
E.Enable the Prevent Prepayment Application Across Account Segments option
F.Enable the Prevent Prepayment Application Across Balancing Segments option
Correct:B F
20.You are working on an implementation for Accounts Payable. Many payments for small suppliers will be made outside of the system, but your client does not want to manually record them because that would be too time consuming. What would be the best solution?
A.Create electronic payment batches using a check payment method for those multiple suppliers, and destroy those checks.
B.Create electronic payment batches using an electronic payment method, such as Electronic Funds Transfer (EFT), for those multiple suppliers, and then do not send the resulting electronic file to the bank.
C.Create electronic payment batches using a clearing payment method for those multiple suppliers, because this payment method does not generate a file.
D.Create electronic payment batches using a wire payment method for those multiple suppliers, and then delete the resulting electronic file.
Correct:D
21.XYZ Inc. has these due dates for its invoices: 1. Invoice -1 - 01-APR-06 2. Invoice -2 - 06-APR-06 3. Invoice -3 - 08-APR-06 The company has defined Additional Pay Through Days as 5. It is running a payment batch on 02-APR-06. Which invoices would be selected for payment?
A.2 only
B.1 only
C.1 and 2
D.1 and 3
E.1, 2 and 3
Correct:C
22.Where is the Expense AP Accrual Account used in the Period End Accrual process default from?
A.Purchasing Options
B.Payables Options
C.Financial Options
D.Receiving Options
Correct:A
23.Which types of items would prevent period close in Payables? (Choose all that apply.)
A.unpaid invoices
B.unaccounted invoices
C.unpaid expense reports
D.pending payment batches
Correct:B D
24.In the accrual process for Period End Accruals, which two events generate accounting entries that can be transferred to General Ledger? (Choose two.)
A.processing a receipt
B.entering Purchase Order
C.entering invoices and matching them in Payables
D.running the Period End Accrual program
Correct:C D
25.ABC Corporation has closed its APR-XX accounting period. The APR-XX period started on 27-MAR-20XX and ended on 26-APR-20XX. It has run the Posted Invoice Register, the Posted Payments Register, and two Accounts Payable Trial Balance reports (as of 30-MAR-20XX and 30-APR-20XX). Unfortunately, the accounts do not balance. Which two actions should be taken? (Choose two.)
A.Check to make sure that all invoices for the period are paid.
B.Check the dates on the Accounts Payable Trial Balance reports.
C.Check to ensure that invoice and payment journals are posted in General Ledger.
D.Check to make sure that there are no unaccounted transactions in APR-XX by using the Unaccounted Transactions report.
Correct:B C
26.Which three statements are true regarding purchase order matched invoices? (Choose three.)
A.You can set up controls in your system to require you to purchase order match each invoice.
B.You can set an option on a purchase order shipment that controls whether invoices should match to that shipment directly or to a receipt.
C.You can set up controls in your system to require you to invoice match credit memos or debit memos that have been matched to a purchase order.
D.You set tolerances to specify the range of variance you will allow if the amounts or quantities on the invoice are less than the amounts or quantities on the purchase order or receipt.
E.You set tolerances to specify the range of variance you will allow if the amounts or quantities on the invoice are greater than the amounts or quantities on the purchase order or receipt.
Correct:A B E