Oracle 1z1-507 Q&A - in .pdf

  • 1z1-507 pdf
  • Exam Code: 1z1-507
  • Exam Name: Oracle Fusion Financials 11g Accounts Payable Essentials
  • Updated: Sep 14, 2026
  • Q & A: 119 Questions and Answers
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  • Q & A: 119 Questions and Answers
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  • Exam Code: 1z1-507
  • Exam Name: Oracle Fusion Financials 11g Accounts Payable Essentials
  • Updated: Sep 14, 2026
  • Q & A: 119 Questions and Answers
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Oracle 1z1-507 Exam Syllabus Topics:

SectionObjectives
Topic 1: 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
          Topic 2: 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
                  Topic 3: Accounts Payable Setup and Configuration- Payables system configuration
                  • 1. Payables options and controls
                    • 2. Financial options setup
                      - Supplier setup and management
                      • 1. Supplier classification and payment terms
                        • 2. Supplier and supplier site configuration
                          Topic 4: Payments Processing- Payment execution
                          • 1. Payment reconciliation
                            • 2. Payment batches and scheduling
                              - Payment methods and formats
                              • 1. Electronic funds transfer (EFT)
                                • 2. Check and wire payment processing
                                  Topic 5: 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

                                          Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:

                                          Question #1

                                          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 NOT change but the user can close the existing period
                                          • B. The accounting date- of the Invoice will change to the first day of next period.
                                          • C. The accounting date of the invoice will change to the first day of the new period specified.
                                          • D. The accounting date of the Invoice will change to the same day of next period.
                                          • E. The accounting date of the invoice will change to the same day of the new period specified.
                                          Reveal Solution  Discussion  0

                                          Correct Answer: C  🗳️

                                          Explanation: Only visible for Prep4sureExam members. You can sign-up / login (it's free).

                                          Question #2

                                          Select three types of invoice transactions for which invoice distributions are generated automatically.

                                          • A. Purchase order or receipt-matched lines
                                          • B. Invoice validation
                                          • C. Interest invoices generated during payment
                                          • D. Tax lines generated by Oracle Fusion Tax
                                          • E. Invoice created through the Image Integration tool
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A,B,D  🗳️

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                                          Question #3

                                          Which three tabs are available on a Single Payment Request?

                                          • A. Accounting
                                          • B. Processing Options
                                          • C. Payment Details
                                          • D. Additional Information
                                          • E. Advanced
                                          Reveal Solution  Discussion  0

                                          Correct Answer: B,C,D  🗳️

                                          Explanation: Only visible for Prep4sureExam members. You can sign-up / login (it's free).

                                          Question #4

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

                                          • A. No Rate hold
                                          • B. Incorrect Conversion Rate hold
                                          • C. Unmatched Invoices hold
                                          • D. Invoice Amount Limit hold
                                          • E. Distribution Variance hold
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A  🗳️

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                                          Question #5

                                          Which embedded analytics provides Information on expense reports without receipts?

                                          • A. Recent Similar Analytics
                                          • B. Corporate Card Required Violation
                                          • C. Recent Returned Reports
                                          • D. Recurring Violations
                                          Reveal Solution  Discussion  0

                                          Correct Answer: D  🗳️

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