1Z0-961 Online Practice Questions and Answers

A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?

A. Manage Payable Options and Manage Invoice Options

B. Manage Payable Options and Manage common options for Payables andProcurement

C. Manage Invoice Options and Manage common options for Payables and Procurement

D. Manage common options for Payables and Procurement and Manage Procurement agents

E. Manage Invoice Options and Manage Procurement agents

What is the result of voiding a payment?

A. The payment is reconciled to the bank statement.

B. The payment is no longer valid for payment.

C. A stop payment request has been initiated to thebank.

D. A bills payable payment was created but is not yet matured.

An invoice for $200 USD and a credit memo for $225 USD are due for payment and the "Apply credits up

to zero amount" option is enabled for the payment process request.

Which statement is correct?

A. The payment process request applies $200 USD of the credit memo to the invoice, leaving a remaining credit of $25 USD, and creates apayment for $0 USD.

B. The payment process request doesn't select the invoice or credit memo for payment because the credit reduces the payment to - $25 USD, which is below zero.

C. The payment process request creates a refund for $225 USD and leaves the invoice unpaid.

D. The payment process request pays only $200 USD alone.

You have 10 ledgers and 30 business units and want to leverage Reference Data Sets. What is the function of Reference Data Sets?

A. allow you to secure data by business unit

B. allow you to assign multiple business units to users in a shared service center

C. allow you to maintain sets of related data in a Data Dictionary

D. allow you to share reference data, such as payment terms, across multiple business units to avoid redundant setup

The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct?

A. Voiding the payment automatically places an invoice on hold.

B. Any previous accounting and payment records for an invoice are reversed.

C. Any realized gain or loss previously calculated isreversed.

D. All related withholding tax invoices are automatically voided.

E. All related interest invoices are reversed if previously created.

What job roles are required to access information within Functional Setup Manager?

A. Application Implementation Manager

B. Functional Setup Manager Superuser

C. Application Implementation Consultant

D. Any Functional User

E. IT Security Manager

Which invoice types can be included in the Create Payment flow?

A. Standard, Credit Memo and Debit Memo

B. Standard, Credit Memo, and Invoice Request

C. Standard, Credit Memo and Customer Refund

D. Standard, Debit Memo and Customer Refund

Which two statements are true about processing corporate card expenses?

A. Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses.

B. You can process payment for credit card using Electronic funds transfer, check, or wire.

C. Usage policy for expense category tolerances does not apply to credit card expenses.

D. Conversion rate defaults apply only to cash expenses, not to corporate card expenses.

E. Card transactions will be paid directly from Expenses Cloud.

You have two business units, Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?

A. Assign the Expense Auditor job roles to each auditor.

B. Assign the Expense Auditor as the owner of each business unit.

C. Assign the Expense Auditor Vision Operations and Expense AuditorVision Services data roles to each Expense Auditor.

D. Use segment value security rules to secure access to business units.

You have a high volume of invoices to enter that have similar lines and do not require extensive validation. What must you do if you want to group multiple invoices in a batch during spreadsheet entry?

A. Make sure all the invoice dates are the same.

B. Assign the same Invoice Header Identifier to multiple invoices you want to group.

C. Enable the invoice option Require Invoice Grouping, andthe system automatically groups invoices entered in the same spreadsheet.

D. Enter a value in the Invoice Group field to group similar invoices into a batch.

E. Make sure the Invoice Number is the same.

If you accidentally paid an invoice using Create Payment flow, can you undo the operation?

A. Cancel the invoice and create a new one.

B. yes, bycreating a credit memo to offset the payment

C. yes, by canceling the payment process from the process monitor

D. no

E. yes, by voiding the payment created

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.

What happens if a company runs the Payables Unaccounted Transactions Sweep program for February 2016 if the invoices with a Hold status have an invoice date of January 20, 2016?

A. The accounting dates of all unaccounted invoices will change to February 28, 2016, the last day of the nextperiod.

B. The accounting dates of all unaccounted invoices will remain unchanged at January 20, 2016.

C. The accounting dates of all unaccounted invoices will be changed to February 1, 2016, the first day of the next period.

D. The accounting dates of all unaccounted invoices will be changed to February 20, 2016, the same day of the next period.