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Oracle 1z1-507 Exam Syllabus Topics:

SectionObjectives
Reporting and Controls- AP reporting tools and analysis
- Audit and compliance controls
Supplier and Invoice Management- Supplier setup and maintenance
- Invoice creation and validation
- Invoice matching and approvals
Payments Processing- Payment methods and formats
- Payment processing and reconciliation
Accounts Payable Overview- AP business processes overview
- AP setup and configuration
Accounting and Period Close- Period end close processes
- AP accounting entries

Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:

Identify two privileges granted to the job role Accounts Payable Supervisor.

  • A. preparing French DAS2 Contractor Letters
  • B. managing Accounting Period Status
  • C. managing Payables Activities
  • D. running Payables Data Extraction Program
  • E. initiating Payables Invoice Approval Task Flow
Reveal Solution  Discussion  0

Correct Answer: B,C  🗳️

Explanation: Only visible for ActualVCE members. You can sign-up / login (it's free).

Which are three key features of Expense Report Entry?

  • A. association of receipt image for expedited processing
  • B. scheduled processes to create card issuer and employee payment requests
  • C. approval of expense reports through Oracle Fusion Approvals Management
  • D. consolidated Information-Driven Work Area
  • E. contextual search and expense tracking for easy retrieval
Reveal Solution  Discussion  0

Correct Answer: A,C,D  🗳️

Explanation: Only visible for ActualVCE members. You can sign-up / login (it's free).

In which two scenarios is the invoice line type Prepayment automatically generated?

  • A. a prepayment is unapplied to the invoice
  • B. a manually created invoice line with type as Prepayment
  • C. a prepayment applied to the invoice
  • D. at the time of validating a Prepayment Invoice
  • E. a prepayment created with invoice type as Prepayment
Reveal Solution  Discussion  0

Correct Answer: A,C  🗳️

Explanation: Only visible for ActualVCE members. You can sign-up / login (it's free).

Where is the Expense Clearing Account and Payment Option set up in Expenses?

  • A. Expense Report template
  • B. Business Unit System Options
  • C. Edit Expenses Systems Options
  • D. Payables System Options
  • E. Create or Edit Company Account pop-up menu
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Explanation: Only visible for ActualVCE members. You can sign-up / login (it's free).

A company has implemented the Supplier Portal. Select three correct statements regarding registration of a supplier in the Supplier Portal.

  • A. The buying company can NOT register users directly and can only initiate the process of adding new suppliers by inviting supplier users.
  • B. The User Administrator, after getting registered as a supplier, can NOT create new user accounts directly for his or her company's users.
  • C. The buyer company sends an invitation to the Supplier requesting a registration with the system, which in turn, sends a notification to the supplier.
  • D. The buying company initiates the process of adding new suppliers by inviting supplier users to register or by registering supplier users directly.
  • E. The buyer verifies the supplier information and sends an update on the registration request.
Reveal Solution  Discussion  0

Correct Answer: C,D,E  🗳️

Explanation: Only visible for ActualVCE members. You can sign-up / login (it's free).

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