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Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:

1. The Apply Missing Conversion Rates program can only be executed for a ___________.

A) Business Unit
B) Ledger Set
C) Business Group
D) Ledger
E) Legal Entity


2. An employee traveled to a different city on a business trip. During the course of travel, the employee used the corporate card provided by his company for both business and personal expenses.
Upon his return, the employee created an expense report. The company is processing the expense report as Both Pay Corporate Card Transactions.
What will the result be?

A) Only business expenses incurred using the corporate card will be reimbursed to the card Issuer.
B) Both business and personal expenses will be reimbursed to the employee.
C) Reimbursement will be made to the employee and the corporate card Issuer.
D) Reimbursements will be made to the employee instead of the corporate card issuer.
E) All expenses incurred using a corporate card will be paid to the card Issuer.


3. An invoice for $1,000 and a credit memo for $1,100 are due for payment.
Which two outcomes will result if the Apply Credits up to Zero Amount Payment option is enabled in the Payment and Processing options of the Payment Process Request?

A) Both the invoice and credit memo are paid fully.
B) The invoice is paid fully but the credit memo is paid partially when a credit of $100 still remaining.
C) Only the invoice is paid fully but the credit memo will have a balance of $1,100.
D) Both the invoice and credit memo are included in the payment process request
E) Neither the invoice nor the credit memo is included in the payment process request.


4. What are the two Online Accounting options available in Oracle Fusion Payables?

A) Account and Post to Ledger
B) Account in Final
C) Account in Draft and Transfer to Ledger
D) Account in Final and Transfer to Ledger
E) Account in Draft


5. An installment for $1000 is due for payment on January 10, 2012. The installment has two discounts: the first discount date is December 5, 2011 for $150 and the second discount date us December 20, 2011 for $100. The Pay Date Basis on the supplier site is Discount.
You submit a payment process request:
-Payment Date = December 5, 2011 -Pay Through Date = December 25, 2011 -Date Basis = Pay date -Always Take Discount option = Enabled
What will be the resulting status of the installment and discount?

A) The installment is selected and a discount of $150 is available because the always Take Discount option is enabled.
B) The installment is NOT selected but discount of $150 is availed because the Always Take Discount option is enabled
C) The installment is NOT selected because the first discount date NOT BEFORE the Pay Through Date.
D) The installment is selected and a discount of $100 is availed because only the latest discount date is committed.
E) The installment is selected and a discount of $0 is available because the payment date is after the discount dates.


Solutions:

Question # 1
Answer: D
Question # 2
Answer: A
Question # 3
Answer: C,D
Question # 4
Answer: B,E
Question # 5
Answer: A

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