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Oracle Financials Cloud: Payables 2023 Implementation Professional Sample Questions:
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 Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability Account 2000 Cr Prepayment Account 2000.
C) Invoice Accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr Expense Account 8000 Cr Prepayment Account 8000.
D) Invoice accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.The prepayment application has no impact on the Invoice.
2. You use corporate cards with expenses and have implemented the Company Pay payment option. An employee incurred the following expenses.
What is the resulting payment amount made to the employee for these expenses?
A) 949
B) 500
C) 201
D) 1449
3. You are testing the Payables to General Ledger Reconciliation report at the ledger level for your UK Ledger, you have run and selected the extract for the report but the request returned the message no data to display.
What is the reason for this?
A) The financial category of Accounts Payable is not assigned to the liability accounts.
B) You did not specify the range of liability accounts to include in the extract.
C) The reconciliation flag has not been enabled for your liability accounts.
D) You did not select the business units associated to the UK Ledger.
4. 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 "Real Time" subject areas are based on real-time transactions and those that are not, are based on historical data.
C) The "Real Time" 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.
D) There is no difference.
5. Which three reports are generated by the export setup data process? (Choose three.)
A) Setup Data Report
B) Process Results Summary Report
C) Exported Business Object Report
D) Process Results Report
E) Process Results Detail Listing Report
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: B,D,E |



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