Oracle Cloud 1Z0-961 Oracle Exam Question Answer

Oracle 1Z0-961 exam is a required test for Oracle Cloud certification. Oracle Cloud is a technical professional who Financial accountant Oracle Financials Cloud . To help you pass Oracle 1Z0-961 exam, latest Oracle 1Z0-961 exam questions are available for you.

Oracle Cloud Practice Exam

Question: 1
An installment meets all of the selection criteria of a Payment Process Request but it still did not get
selected for payment processing. Identify two reasons for this.
A. The installment was manually removed.
B. The invoice has not been accounted.
C. The pay-through date is in a future period.
D. The pay-through date is in a closed Payables period.
E. The invoices need re-validation.

Answer: A,E
Reference:

https://docs.oracle.com/cd/E37017_01/doc.1115/e22897/F438410AN16238.htm

Question: 2
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 term of the invoice overrides the purchase order payment term.
E. The payment term of the purchase order overrides the invoice payment term.
Answer: B


Question:3
Which two setups are required to ensure the same tax is applied on both intercompany payable and
receivable invoice?
A. Payable options are receivable system options should have same tax application options.
B. Tax for inter-company is to be loaded using Create Taxable Transactions in Spreadsheet.
C. First enter Payable transaction to calculate tax and then for Receivable Transaction.
D. You should check if any specific rules defined should cover both Sales_transaction and
purchase_transaction business category.
E. Ensure that both the receiver and provider business units and legal entities are subscribed to the
applicable tax regime on the transaction date.
Answer: C,E

Question: 4
The payment build program has completed but with errors.
When submitting the payment process request, which processing option is used to review the error
messages from the Manage Payment Process Request Inquiry?
A. Set the validation failure handling for documents to “show errors”.
B. Set the validation failure handling for payments to “show errors”.
C. Enable debug for the payment format program.
D. Set the validation failure handling for payments to “stop process for review”.

Answer: D
Reference:

https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm

Question: 5
You want to have an invoice line automatically distributed across multiple cost centers. For example,
you want your monthly utility bill allocated across multiple cost centers based on a percentage.

Select two methods to achieve this.
A. Customize the Subledger Accounting rules to allocate costs.
B. Define a distribution set and assign it manually to the invoice.
C. Enter the invoice in Payables and then use general ledger’s Calculation Manager to allocate the
costs.
D. Define a distribution set and assign it to the supplier.

Answer: A,B

Question: 6
Which two statements are true when you are using the Intercompany Reconciliation Process?
A. Transaction Summary Report will show only transactions with status received.
B. The reconciliation period summary report will show the intercompany receivable and the
intercompany payable lines generated by the intercompany balancing feature.
C. Ledger balancing lines are generated when the primary balancing segment value is in balance but
either the second balancing segment or the third balancing segment is out of balance.
D. You must run the Extract Intercompany Reconciliation Data job.
E. The reconciliation period summary report will not show the intercompany receivables and
intercompany payables lines generated for the provider and receiver of each intercompany
transaction.

Answer: B,D