Oracle EBS R12: General Ledger and Payables Fundamentals

Q1. Subledger Accounting is a rule-based accounting engine that centralizes accounting for Oracle

E-Business Suite Release 12 products.

Select the Oracle application that is NOT a Subledger Accounting module.

A. Assets

B. Payables

C. Purchasing

D. Receivables

E. General Ledger

Answer: E

Q2. Oracle Payments is the central payment engine for Oracle E-Business Suite Release 12.

Identify three modules that integrate with Oracle Payments. (Choose three.)

A. Assets

B. Payables

C. Receivables

D. Cash Management

E. Order Management

Answer: BCD

Q3. There are five major business functions that occur sequentially during the natural flow of the

Payables processes. Consider this list of five steps:

1. Invoice Payment

2. Invoice Validation

3. Invoice and Payment Accounting

4. Supplier Entry

5. Invoice Import/Entry

What is the order in which these steps must be performed?

A. 1, 2, 3, 4, 5

B. 4, 5, 2, 1, 3

C. 5, 3, 1, 2, 4

D. 3, 1, 4, 2, 5

E. 4, 2, 5, 1, 3

Answer: B

Q4 There are many fields with important data displayed on the main page of the Payables Overview

window.

Which three fields do NOT appear in the Payables Overview main window? (Choose three.)

A. Terms

B. Paygroup

C. Trading Partner

D. Settlement Date

E. Remit-To Bank Account Name

Answer: ABE

Q5). What are the three prerequisites for interfacing Payables invoice lines with Assets? (Choose three.)

A. The invoice has no holds.

B. The invoice must be posted to General Ledger.

C. The invoice has been transferred to General Ledger.

D. The invoice distribution has "Track as Asset" selected.

E. The distribution account is an Asset Clearing or CIP account.

Answer: CDE

Q6. Identify two events that take place when an invoice is matched to a purchase order. (Choose two.)

A. Tolerances are enforced.

B. The quantity billed is updated.

C. The quantity received is updated.

D. The purchase order accounting information is copied to the invoice.

Answer: BD

Q7. Identify the two invoice types processed by the Payables Open Interface process. (Choose two.)

A. standard

B. prepayment

C. debit memos

D. credit memos

Answer: AD

Q8. Identify four interface tables that are available in Oracle Payables. (Choose four.)

A. Payables Open Interface

B. Suppliers Open Interface

C. Payables PCard Interface

D. Payables Payments Interface

E. Payables PO Matching Interface

F. Payables Invoice Open Interface

Answer: ABCE

Q9. There are numerous Oracle modules that are integrated into or out of the Payables module.

Identify four Oracle modules that are directly integrated with Oracle Payables. (Choose four.)

A. Loans

B. Purchasing

C. Bill of Materials

D. E-Business Tax

E. Order Management

F. Cash Management

G. System Administrator

Answer: ABDF

Q10. Select three types of Payables open interfaces that will import data into Payables from other

applications or third-party solutions. (Choose three.)

A. PCard Open Interface

B. Supplier Open Interface

C. Matching Open Interface

D. Receiving Open Interface

E. Payments Open Interface

Answer: ABC

Q11. Identify three types of entities that can be defined and related to one another in Oracle Applications.

(Choose three.)

A. ledger

B. paygroups

C. legal entities

D. responsibilities

E. business groups

Answer: ACE

Q12. To set up and use Multiple Organization Access Control (MOAC) most effectively, you need to define

three profile options. (Choose three.)

A. MO: Operating Unit

B. HR: Security Profile

C. MO: Security Profile

D. HR: Business Group

E. MO: Default Operating Unit

Answer: ACE

Q13. Select four options that can be set at the supplier site level. (Choose four.)

A. surveys

B. tax details

C. accounting

D. bank details

E. business classification

Answer: ABCD

Q14. You are on a phased-approach implementation. Payables and Purchasing are being implemented

in Phase One, and Assets in Phase Two.

Identify three choices in the process for the best way to discuss supplier naming conventions and supplier

site naming conventions. (Choose three.)

A. Agree upon naming conventions.

B. Gather only the Payables and Purchasing personnel.

C. Document conventions and obtain the sign-off by authorized approvers later.

D. Document conventions and obtain the sign-off by authorized approvers immediately.

E. Gather all interested parties for requirements-including Assets, Payables and Purchasing.

Answer: ADE

Q15. The rate variance Gain/Loss accounts specified in the Financial Options - Accounting region are

used to account for _____.

A. exchange rate variance in invoices and payments

B. invoice price variance in purchase orders and invoices

C. exchange rate variance for expense items in purchase orders and invoices

D. exchange rate variance for inventory items in purchase orders and invoices

Answer: D

1ZO-215 FAQs

1. What is a benefit of the secondary tracking segment?
A. Additional security ensures that correct accounts are selected while entering transactions.
B. The Management segment is enabled automatically when the secondary segment is defined.
C. More details are provided to retained earnings, cumulative translation adjustments, and revaluation
gains/losses accounts.
Answer: C

2. Isa Global Inc. is based in the United States with divisions in Europe and Asia. All journal imports,
recurring journals, mass allocations, and manual journal entries have been posted for their European
subsidiary.
What is the next logical step in the period-close process?
A. opening the next period
B. closing the current period
C. revaluing foreign currency balances
D. translating to the functional currency
E. consolidating to the parent set of books
Answer: C

3. Select two actions that ledger sets permit. (Choose two.)
A. performing variance inquiries
B. being used for mass budgets
C. sending budget balance inquiries
D. viewing account balances for multiple ledgers in one view
E. grouping multiple ledgers that share the same chart of accounts and calendar
Answer: DE


4. Select three activities that must be performed to complete the setup of the key accounting flexfield.
(Choose three.)
A. Create aliases.
B. Define a value set.
C. Define security rules.
D. Define an account structure.
E. Define valid segment values.
F. Create account combinations.
Answer: BDE

5. Which two statements are true about the reporting currency in Oracle General Ledger? (Choose two.)
A. It is an integrated extension of a ledger.
B. It replaces multiple reporting currencies.
C. Reporting currencies are the same as secondary ledgers.
D. Reporting currencies cannot have the same chart of accounts, accounting method, and ledger
processing options.
Answer: AB

6. Which three activities would use summary accounts? (Choose three.)
A. creating a monthly recurring standard journal entry to amortize goodwill
B. allocating the total monthly costs of the Information Services department to other departments
C. estimating a sales commission accrual based on the total of all product sales for each division
D. formulating a budget for employee benefits in each company based on the total of all budgeted
employee salaries
Answer: BCD

7. The companys two senior executives have different budget figures. They want Peter, the GL
accountant, to prepare two current budgets in Oracle Financials and submit budgets to both of them.
What would be your response?
A. It is not possible to have more than one current budget.
B. Whether you can have multiple current budgets depends on the budget organization.
C. The Require Budget Journal profile option must be set at the budget level if you want to have multiple
current budgets.
D. The Require Budget Journal profile option must be set at the set of books level if you want to have
multiple current budgets.
E. The Oracle General Ledger budget functionality supports multiple current budgets, so there is no
problem in satisfying this requirement.
Answer: A

8. Identify the four setup options that control supplier defaults. (Choose four.)
A. financial options
B. payables options
C. receiving options
D. purchasing options
E. Payables system setup
F. Trading Community Architecture (TCA)
Answer: ABDE

9. Identify three ways that an invoice can be submitted for validation. (Choose three.)
A. online by clicking the Validate button in the Invoice Batches window
B. online by clicking the Validate and Account button in the Invoice Batches window
C. in batch by submitting the Payables Invoice Validation program from the Invoice Workbench
D. in batch by submitting the Payables Invoice Validation program from the Submit Request window
E. online by selecting either the Validate check box or the Validate Related Invoices check box in the
Invoice Actions window
Answer: ADE

10. You are working on an implementation for Accounts Payable for ABC Inc.
Your client has three requirements:
1. They want to be able to pay only certain types of suppliers by batch.
2. Each payment batch must be under $100,000 USD, or the batch automatically gets canceled without
user intervention.
3. Each single payment for a supplier site must be between $10 USD and $10,000 USD, or the payment
is automatically not issued.

To meet the above requirements, you perform these steps:
a) Set up suppliers with pay groups for each type, and use them when running the payment batch.
b) Set up the payment batch with Maximum Outlay equal to $100,000 USD.
c) Set up the payment batch with Maximum/Minimum payments as $10 USD and $10,000 USD.
Which requirements have you met?
A. 2 and 3
B. 1, 2 and 3
C. 1 and 2
D. 1 and 3
Answer: D