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Oracle 1z1-507

1z1-507

Exam Code: 1z1-507

Exam Name: Oracle Fusion Financials 11g Accounts Payable Essentials

Updated: Sep 30, 2026

Q & A: 119 Questions and Answers

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Oracle 1z1-507 Exam Syllabus Topics:

SectionObjectives
Invoice Management- Invoice creation and processing
  • 1. Standard and recurring invoices
    • 2. Invoice validation and approval workflow
      - Invoice adjustments
      • 1. Invoice holds and resolutions
        • 2. Credit memos and cancellations
          Reporting and Controls- Payables reporting
          • 1. Invoice and payment reporting
            • 2. Standard financial reports
              - Internal controls
              • 1. Approval rules and segregation of duties
                • 2. Audit trails and compliance checks
                  Accounting and Period Close- Payables accounting entries
                  • 1. Subledger accounting integration
                    • 2. Invoice and payment accounting events
                      - Period close activities
                      • 1. Payables period close process
                        • 2. Reconciliation and reporting
                          Payments Processing- Payment methods and formats
                          • 1. Electronic funds transfer (EFT)
                            • 2. Check and wire payment processing
                              - Payment execution
                              • 1. Payment reconciliation
                                • 2. Payment batches and scheduling
                                  Accounts Payable Setup and Configuration- Supplier setup and management
                                  • 1. Supplier classification and payment terms
                                    • 2. Supplier and supplier site configuration
                                      - Payables system configuration
                                      • 1. Payables options and controls
                                        • 2. Financial options setup

                                          Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:

                                          Question #1
                                          Which three fields are required in the Invoice Header when creating an invoice using the spreadsheet options?

                                          A. Invoice Amount
                                          B. Supplier Site
                                          C. Invoice Group
                                          D. Invoice Number
                                          E. Payment Term


                                          Question #2
                                          What are the three modes available to enter expense reports?

                                          A. Spreadsheet Integration
                                          B. Oracle Fusion Payments
                                          C. Oracle Fusion Payables
                                          D. Oracle Fusion Projects
                                          E. Oracle Fusion Expenses


                                          Question #3
                                          The Payment Process Request section of the Accounts Payables dashboard has a tab called Recently Completed. This tab displays all the payment process requests completed in the last_________.

                                          A. 30 days
                                          B. 15 days
                                          C. 21 days
                                          D. 7 days
                                          E. 10 days


                                          Question #4
                                          The Accounts Payable Manager voided a Payment Request issued for a foreign currency invoice due to insufficient funds.
                                          Which three statements are correct?

                                          A. All related interest invoices are reversed if already created.
                                          B. Any realized gain or loss on foreign currency invoices is recorded as paid by the payment when reversed.
                                          C. All related withholding tax invoices are automatically reversed.
                                          D. Accounting and payment records for the invoices that were paid automatically are reversed.
                                          E. The process places the invoice on hold automatically.


                                          Question #5
                                          Which three tabs are available on a Single Payment Request?

                                          A. Processing Options
                                          B. Additional Information
                                          C. Accounting
                                          D. Advanced
                                          E. Payment Details


                                          Solutions:

                                          Question #1
                                          Correct Answer: A,D,E
                                          Question #2
                                          Correct Answer: C,D,E
                                          Question #3
                                          Correct Answer: D
                                          Question #4
                                          Correct Answer: A,C,D
                                          Question #5
                                          Correct Answer: A,B,E

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