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Oracle 1z1-507 Exam Syllabus Topics:

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

Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:

Question #1

Identify three scenarios where you are NOT allowed to cancel an invoice.

  • A. The invoice is fully or partially paid.
  • B. The invoice was adjusted by a credit or debit memo.
  • C. Prepayments were applied to the invoice.
  • D. The invoice is validated.
  • E. An accounting entry has been created for the invoice.
Reveal Solution  Discussion  0

Correct Answer: A,B,C  🗳️

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Question #2

Identify two stages in the Payment Process Request that require manual actions to complete.

  • A. Retry payment creation
  • B. Pending installments review
  • C. Pending Proposed Payment review
  • D. Pending
  • E. Failed document validation
Reveal Solution  Discussion  0

Correct Answer: C,E  🗳️

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Question #3

What are the three sections in the Payables Key Indicators Report?

  • A. Current Activity
  • B. Recent Activity
  • C. State of the Application
  • D. Invoice Activity
  • E. Payment Activity
Reveal Solution  Discussion  0

Correct Answer: A,C,D  🗳️

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Question #4

There is a business requirement to cancel all related invoices when voiding a payment.
In which two scenarios the invoices can NOT be canceled?

  • A. The invoice is fully matched to a Purchase Order which is fully received.
  • B. The Invoice has been partially paid by a Prepayment.
  • C. The invoice has an associated withholding tax invoice.
  • D. The invoice has been partially paid by another payment.
  • E. The invoice is already accounted.
Reveal Solution  Discussion  0

Correct Answer: B,D  🗳️

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Question #5

Select three valid invoice line types.

  • A. Freight
  • B. Charges
  • C. Interest
  • D. Tax
  • E. Miscellaneous
Reveal Solution  Discussion  0

Correct Answer: A,D,E  🗳️

Explanation: Only visible for Prep4King members. You can sign-up / login (it's free).

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