1z0-517 sample questions

Question 1

Identify three considerations for implementing internal controls for payment processing. (Choose three.)

Accepted Answer

fewer payment runs

Accepted Answer

proper segregation of duties

Accepted Answer

credentials of the payment processing staff

Answer

physical security

Answer

amend payment methods

Question 2

During the entry or update of expense reports in the Payables Expense Report window, holds can be applied on an expense report. These holds are carried forward to the invoice created from the expense report in Payables.

Which statement is true?

Accepted Answer

Only one user-defined hold and no system hold can be applied on one expense report in the Payables Expense Report window.

Answer

Any number of user-defined holds and only one system hold can be applied on one expense report in the Payables Expense Report window.

Answer

Only one user-defined hold and any number of system holds can be applied on one expense report in the Payables Expense Report window.

Answer

Any number of user-defined holds and any number of system holds can be applied on one expense report in the Payables Expense Report window.

Question 3

You are at a client site that has thousands of suppliers in their current legacy system that will end up in the Oracle Production system. Before conversion, you must perform a supplier cleanup on these numerous names and sites.

Which three naming conventions would you use for “Best Practices” during the supplier cleanup? (Choose three.)

Accepted Answer

Use Last Name, First Name to identify employees as suppliers.

Accepted Answer

Remove all punctuation masrks (commas, periods, and so on) from the supplier name.

Accepted Answer

Use the exact spelling of a supplier name as it appears on the invoice for the naming convention.

Answer

Create some supplier names in uppercase and others in mixed case.

Answer

Use abbreviations in the supplier name even it is not abbreviated on the invoice.

Question 4

Identify the item that requires approval through the workflow process.

Accepted Answer

Invoices not matched to a purchase order.

Answer

Invoices that existed before you enabled the feature

Answer

expense reports imported through the Payables Expense Report Import Program

Answer

recurring invoices if the recurring invoice template did not have the Approval Workflow Required option enabled

Question 5

If you are using the multiple-organization support feature, select three items that you cannot enter at the supplier level, but only at the supplier-site level. (Choose three.)

Accepted Answer

distribution set

Accepted Answer

liability account

Accepted Answer

prepayment account

Answer

receipt routing

Answer

match approval level

Question 6

You can hold the payment of an entire invoice or part of an invoice. This hold prevents a validated invoice from being selected in a Payment Batch, and paid.

Identify the Payables window where you can select the Hold check box to place the invoice on a Payment Hold.

Accepted Answer

Scheduled Payments

Answer

Enter Payments

Answer

Invoice Overview

Answer

Invoice Distributions

Question 7

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.)

Accepted Answer

Invoice amount $500, withholding tax $100 (20% of $500)

Accepted Answer

Invoice amount $500, prepayment invoice for $250, withholding tax $50 (20% of $500 - $250)

Accepted Answer

Invoice amount $600, prepayment invoice for $100, withholding tax $100 (20% of $600 - $100)

Answer

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

Answer

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

Question 8

Identify three true statements about the invoice approval workflow. (Choose three.)

Accepted Answer

If an approver rejects the invoice, the Workflow program ends.

Accepted Answer

If an approver does not respond within the time you specify, the Workflow requests approval from that person’s manager.

Accepted Answer

If an approver approves the invoice, the invoice goes to the next person in the approver list until all required people approve the invoice.

Answer

If an approver does not respond within the time you specify, Workflow routes the invoice back to the originator.

Answer

If the invoice amount is chanaged after the invoice is already submitted to the approval process or after the process is complete, the system does not automatically resubmit the invoice for approval.

Question 9

Identify three open interfaces used to import data into Payables from other applications or third- party solutions. (Choose three.)

Accepted Answer

Payables PCard Open Interface

Accepted Answer

Payables Supplier Open Interface

Accepted Answer

Payables Credit Card Open Interface

Answer

Payables Lease Open Interface

Answer

Payables iSupplier Open Interface

Answer

Payables Payments Open Interface

Question 10

Payable lists four seeded payment methods. They are check, outsourced check, electronic, and wire. Choose the correct description for wire.

Accepted Answer

a funds transfer initiated by contracting the bank and requesting wire payment to the bank of a supplier.

Answer

a paper check to print and send to a supplier

Answer

an EFT, EDI, or XML to the bank of a supplier

Answer

transmission of payment information to an external party, such as your bank, that prints checks on your behalf.

Oracle EBS R12.1 Payables Essentials Free Sample Questions

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