- Exam Code: 1z1-507
- Exam Name: Oracle Fusion Financials 11g Accounts Payable Essentials
- Updated: Aug 09, 2026
- Q & A: 119 Questions and Answers
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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Expense Reports Management | 10% | - Enter and submit expense reports - Audit and process expense reports - Expense report approval workflow |
| Topic 2: Accounting, Period Close and Reporting | 15% | - Manage accounting periods - Create accounting entries - Run Payables reports and analytics - Transfer to General Ledger |
| Topic 3: Overview of Oracle Fusion Payables | 10% | - Payables concepts and architecture - Payables dashboard and work areas |
| Topic 4: Invoice Processing | 25% | - Enter and validate invoices - Invoice matching and holds resolution - Prepayments and credit memos - iSupplier Portal invoice entry |
| Topic 5: Payables Setup and Configuration | 20% | - Define payment terms and payment methods - Set up supplier and supplier sites - Configure Payables system options - Configure tax and accounting rules |
| Topic 6: Payments Processing | 20% | - Stop and void payments - Create and manage payment process requests - Single payments and batch payments - Payment formats and bank integration |
1. 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 Needs Revalidation.
C) The prepayment validation status is Available.
D) The prepayment validation status is Unpaid.
E) The prepayment is of the Permanent type.
2. Identify two privileges granted to the job role Accounts Payable Supervisor.
A) running Payables Data Extraction Program
B) managing Accounting Period Status
C) preparing French DAS2 Contractor Letters
D) initiating Payables Invoice Approval Task Flow
E) managing Payables Activities
3. During its first month end close, a company has an Invoice with a Hold status dated 15-Jan-2012.
Its accounting practice permits the transfer of unaccounted transactions from one period to another. What will happen if it runs the Payables Unaccounted transactions Sweep program?
A) The accounting date of the Invoice will change to the same day of next period.
B) The accounting date of the invoice will NOT change but the user can close the existing period
C) The accounting date- of the Invoice will change to the first day of next period.
D) The accounting date of the invoice will change to the same day of the new period specified.
E) The accounting date of the invoice will change to the first day of the new period specified.
4. An installment meets all the selection criteria of a payment process request but still did NOT get selected for payment.
Identify two reasons for this.
A) The pay-through date is in the closed period.
B) The installment was manually removed.
C) The invoice needs revalidation.
D) The pay-through date is in the future period.
E) The invoice has NOT been accounted.
5. Which embedded analytics provides Information on expense reports without receipts?
A) Recurring Violations
B) Corporate Card Required Violation
C) Recent Returned Reports
D) Recent Similar Analytics
Solutions:
| Question # 1 Answer: B,D,E | Question # 2 Answer: B,E | Question # 3 Answer: E | Question # 4 Answer: A,C | Question # 5 Answer: A |
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