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Oracle 1z0-507 Exam : Oracle Fusion Financials 11g Accounts Payable Essentials

1z0-507 actual test
  • Exam Code: 1z0-507
  • Exam Name: Oracle Fusion Financials 11g Accounts Payable Essentials
  • Updated: Aug 15, 2026
  • Q & A: 119 Questions and Answers
  • PDF Demo
  • PC Test Engine
  • Online Test Engine
  • Total Price: $59.99  

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Oracle 1z0-507 Exam Syllabus Topics:

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

                                          1. An invoice is created, paid, and is accounted for. Two adjustments are made to the invoice and validated with the same accounting date.
                                          Which statement is correct?

                                          A) The Payment Adjustment Event created in the first instance will be overwritten by the second.
                                          B) A Payment Adjustment Event is NOT created in both the cases.
                                          C) A Payment Adjustment Event is created in the second instance even though the first event had NOT been accounted.
                                          D) Only one Payment Adjustment Event is created because the first Payment Adjustment Event has NOT been accounted.
                                          E) A Payment Adjustment Event is created for both adjustments.


                                          2. Which hold type prevents accounting of a foreign currency invoice if the conversion rate is missing?

                                          A) Incorrect Conversion Rate hold
                                          B) Invoice Amount Limit hold
                                          C) Distribution Variance hold
                                          D) Unmatched Invoices hold
                                          E) No Rate hold


                                          3. A company needs to implement corporate cards with Company Pay or Both Pay Payments liability.
                                          Select three correct statements regarding corporate card implementation.

                                          A) Setting up of expense clearing account is required only for Company Pay and Both Pay payment liability.
                                          B) Specific expense clearing account can be set up per card program.
                                          C) Payables uses the clearing account to record only the debits.
                                          D) One clearing account can be set up for all card programs.


                                          4. What is the required parameter for the Payables to General Ledger Reconciliation Report?

                                          A) Business Unit
                                          B) Ledger
                                          C) Financial Period
                                          D) Natural Segment Value
                                          E) Balancing Segment Value


                                          5. Select three reasons that a prepayment will NOT be available for applying to invoices.

                                          A) The prepayment is of the Temporary type.
                                          B) The prepayment validation status is Available.
                                          C) The prepayment validation status is Unpaid.
                                          D) The prepayment validation status is Needs Revalidation.
                                          E) The prepayment is of the Permanent type.


                                          Solutions:

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

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