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| Section | Weight | Objectives |
|---|---|---|
| Invoices | 25% | - Process invoice approvals - Create and validate invoices - Enter imported invoices - Define matching options - Create one-time suppliers - Create and manage invoices |
| Payments | 20% | - Process manual and automatic payments - Define payment terms and payment formats - Set up payment documents - Process payment files and reports |
| Payables Options and Security | 15% | - Define Payables Options - Define validation and tax controls - Implement security |
| Accounting and Reporting | 25% | - Configure accounting and chart of accounts - Create accounting for invoices and payments - Generate Payables reports - Review journal entries and account analysis |
| Suppliers and Supplier Sites | 15% | - Create and manage supplier sites - Define supplier classifications - Create and maintain suppliers |
1. An Office supplies company requires an advance payment of $8000 for the office supplies you wish to order. You enter and pay a prepayment type invoice for $8000. You enter the standard invoice to book the expense which totals $10000 and you apply the prepayment to the standard invoice.
What are the accounting entries for that standard invoice with the prepayment application?
A) Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability 8000 Cr Prepayment Account 8000.
B) Invoice accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.The prepayment application has no impact on the Invoice.
C) Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability Account 2000 Cr Prepayment Account 2000.
D) Invoice Accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr Expense Account 8000 Cr Prepayment Account 8000.
2. You have an invoice with a payment term that has the following settings:
* Day of Month = 15
* Cut off Day = 11
* Months Ahead = 0
* Terms Date on Invoice = January 12th
What will the resulting due date for the invoice installment be?
A) April 15th
B) January 15th
C) March 15th
D) February 15th
3. A company has three legal entities each with a corresponding business unit all within the same country. All organizations buy and sell the same products. You are configuring the tax setup.
What is the minimum number of Tax Regimes you need to configure for this company?
A) 1
B) 2
C) 3
D) 6
4. You purchased a computer from Company A for 2000 USD. Company B ships you the computer with freight charges of 100 USD. You would like the cost of the computer to include those freight charges.
How can you achieve this?
A) Choose to Match to Receipt Charges.
B) Enter the Invoice manually and add the freight line.
C) Choose Match to Receipt.
D) Choose to Match to Invoice Lines.
E) Choose to Match in full to the Purchase Order.
5. Which is the Payables tool based on real-time data?
A) Essbase Cube
B) Smart View
C) Oracle Transactional Business Intelligence (OTBI)
D) Oracle Business Intelligence Applications (OBIA)
E) Oracle Financial Reporting (FR)
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: D |
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