1Z0-961 Online Practice Questions and Answers

What are the two advantages of using a spreadsheet for correcting invoice import errors?

A. identification of errors with clear error messages at the invoice header and line levels

B. identification of errors with clear error messages at the invoice header level only

C. ability to correct errors and re-import invoices directly from aspreadsheet

D. ability to correct errors within the spreadsheet and send invoice corrections for approval

E. ability to enter a high volume of invoices via a spreadsheet

You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?

A. Enter the invoice via a spreadsheet. Then, from the Manage Invoices page, query the invoice, validate it, create accounting, and then open general ledger's Manage Journals page and post the associated invoice journal entry.

B. Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.

C. Enter and post a manual journal entry directly into the general ledger.

D. Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the

spreadsheet.

Select three reasons why you cannot close your Payables period.

A. suppliers on payment holds

B. bills payable requiring maturity

C. unapplied prepayments

D. open intercompany transactions

E. unaccounted invoices and payments

What is the difference between subject areas that append the word "Real Time" and those that do not?

A. The "Real Time" subject areas are based on subledger transactions and the ones that are not are based on general ledger balances.

B. The "RealTime" subject areas are based on real-time transactions in the applications, and those that are not, are based on data stored in the Oracle Business Intelligence Applications data warehouse.

C. The "Real Time" subject areas are based on real-time transactions and those that are not, are based on historical data.

D. There is no difference.

You need to submit a 1099 report; your State format has changed slightly since last year. How should you submit your 1099s for the State in the current year?

A. Run and submit your 1099s because it will automatically reflect any changes.

B. Edit the 1099 template to reflect the changes, and then run and submit the 1099 report.

C. Generate a 1096 form and submit it instead.

D. Manually enter the 1099s forthe State and submit.

Which method can you use to route payment approval rules?

A. Serial and FYI (For Your Information)

B. Approval Groups

C. Both Parallel and Sequential

D. Sequential

E. Parallel

Which two statements are true about the Invoice Validation process?

A. updates supplier balances

B. validates project information

C. creates tax lines and distributions

D. creates withholding tax invoices, if withholding tax is enabled to create withholding tax at payment, so that you can make payment on this invoice

E. creates accounting entries in draft

An installment for $1,000 USD is due for payment on January 10, 2016. The installment has two discounts: the first discount date is December 5, 2015 for $150 USD and the second discount date is December 20, 2015 for $50 USD. The Pay Date Basis on the supplier site is Discount.

You submit a Payment Process Request with the following criteria; -Payment Date = December 5, 2015

-Pay Through Date = December 25, 2015

-Date Basis = Pay Date

-Always Take Discount option is enabled

What will be the resulting status of the installment and discount?

A. The installment is not selected because thefirst discount date is before the Pay Through Date.

B. The installment is selected and a discount of $150 USD is applied because the Always Take Discount option was enabled.

C. The installment is selected but no discount is applied because the payment dateis after the discount dates.

D. The installment is selected and a discount of $50 USD (the second discount) is applied.

E. The installment is selected and a discount of $200 USD ($150 + $50) is applied.

Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?

A. The purchase order payment term cannot be overridden.

B. The user needs to manually change the payment term on the invoice to match the purchase order payment term.

C. The user needs to specify which payment term to use.

D. The payment termof the invoice overrides the purchase order payment term.

E. The payment term of the purchase order overrides the invoice payment term.

Your company wants to generate intercompany transactions in USD but only if the amount involved is $3,000 USD or more. Which two intercompany system options are valid?

A. Approval rules need to set the allow of the intercompany transactions to be routed to the receiver or provider.

B. Set the intercompany system option minimum transaction amount of $3,000 USD.

C. Intercompany invoices will be generated for the minimum accountable amount set at the payable invoice options and receivable system options.

D. You cannot update the minimum transaction currency when intercompany currency is entered.

E. Set the intercompany system option minimum transaction amount to $2,999.99 USD.