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Oracle Financials Cloud: Payables 2023 Implementation Professional Sample Questions:

1. A Payment Process Request was submitted and errors were found in the payment file. The payment file and process were terminated.
Which two statements are true?

A) The status of the payment file is Cancelled.
B) The invoices are placed on payment hold.
C) The status of each payment in the payment file is Cancelled and the related documents are available for future selection.
D) The status of the payment file is Terminated.
E) The status of each payment in the payment file is Terminated.

2. Which is the Payables tool based on real-time data?

A) Smart View
B) Essbase Cube
C) Oracle Financial Reporting (FR)
D) Oracle Transactional Business Intelligence (OTBI)
E) Oracle Business Intelligence Applications (OBIA)

3. A Bill Payable document was paid but has not yet matured.
What is the status of the payment?

A) Cleared
B) In Transit
C) Negotiable
D) Issued

4. Identify two ways the invoice imaging solution works in the Cloud.

A) Customers scan the invoice on-premise and email the images.
B) Customers ask their suppliers to scan and email the invoice.
C) Customers cannot use invoice imaging in the Cloud.
D) Customers ask suppliers to send electronic invoices.
E) Customers scan and store the invoice images on-premise and attach them during invoice entry.

5. You are using the Payable's Deferred Expense feature (also known as Multiperiod Accounting). You have entered an invoice for a three-month lease that is entered on Jan 10th. The total expense is $12,000 and it covers the rental period from Jan 1st to Mar 31st.
Assuming that the rental expenses are split evenly per month and a monthly accounting calendar is used, what would the accounting entry be?

A) On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000
B) On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Jan 10th, Debit Rental Expense for 12,000 and Credit Cash for 12,000
C) On Jan 10th, Debit Prepaid Expense for 12,000 and Credit Liability 12,000
D) On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000 and thenOn Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000

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