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Oracle 11g 1z1-507

1z1-507

Exam Code: 1z1-507

Exam Name: Oracle Fusion Financials 11g Accounts Payable Essentials

Updated: Aug 02, 2026

Q & A: 119 Questions and Answers

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Oracle 11g 1z1-507 Oracle Fusion Financials 11g Accounts Payable Essentials Exams

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Oracle 1z1-507 Exam Syllabus Topics:

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

                                          Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:

                                          1. How are prepayments for invoices configured?

                                          A) No additional configuration is required. Users must select the invoice type as prepayment when the invoice is created.
                                          B) Create the prepayment terms and associate it with the prepayment Invoice.
                                          C) No additional configuration is required. Users must select the payment type as prepayment when the payment is created.
                                          D) Enable the Profile Option for Prepayment in the Manage Payable profile options page.
                                          E) Enable Allow Prepayments in Define General Payables Options.


                                          2. Identify two benefits of using the iSupplier Invoice approval process.

                                          A) manual routing for approvals
                                          B) manual Hold Resolution
                                          C) automatic routing for approval
                                          D) automatic Hold Resolution


                                          3. Select three true statements about the Invoice Validation process.

                                          A) updates Supplier Balance
                                          B) creates withholding invoices
                                          C) creates Accounting Entries
                                          D) validates project information
                                          E) creates tax lines and distributions


                                          4. What duty must an employee have in order to create payables documents, review reimbursements, process results, and review expense exports?

                                          A) Expense Audit Duty
                                          B) Expense Entry Duty
                                          C) Expense Policies and Rules Administration Duty
                                          D) Expense Export Duty
                                          E) Expense Management Analysis Duty


                                          5. Identify three statuses that appear in the Processed Tab in the Expense Report region.

                                          A) Partially paid
                                          B) Saved
                                          C) Ready for Payment
                                          D) Paid
                                          E) Pending Your Resolution
                                          F) Rejected


                                          Solutions:

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

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