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- 1z0-1055-21: Oracle Financials Cloud: Payables 2021 Implementation Essentials
Free 1z0-1055-21: Oracle Financials Cloud: Payables 2021 Implementation Essentials Exam Questions and Answers
Last updated: January 14, 2025
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240-1z0-1055-21: Oracle Financials Cloud: Payables 2021 Implementation Essentials
#Question
Which integration enhances the overall effectiveness of Oracle Payables?
A.Data analytics integration
B.Automatic third-party invoicing
C.External payment processing
D.Limited software integrations
Correct Answer:
A
Integrating data analytics enhances Oracle Payables by providing deeper insights into financial performance and trends.
#Question
What is the role of the 'Payment Processing Status' in Oracle Payables?
A.To confirm invoice amounts
B.To track all vendor requests
C.To stop all vendor payments
D.To indicate the progress of payments
Correct Answer:
D
The Payment Processing Status indicates the ongoing progress of payments within the system to improve transparency and tracking.
#Question
How frequently should vendor information be reviewed in Oracle Payables?
A.Once a month
B.Whenever necessary
C.Annually
D.Weekly
Correct Answer:
C
Vendor information should be reviewed annually to ensure it remains current and accurate, especially as business needs evolve.
#Question
Which report would help analyze the impact of payments on cash flow in Oracle Payables?
A.Cash Flow Forecast Report
B.Expense Tracking Report
C.Vendor Performance Report
D.Payment Analysis Report
Correct Answer:
A
The Cash Flow Forecast Report analyzes the impact of payments on overall financial health and supports strategic planning.
#Question
What does 'Invoice Processing Time' track in Oracle Payables?
A.Vendor relationship hours
B.Number of invoices received
C.Total payments made
D.Time taken for invoice approval
Correct Answer:
D
Invoice Processing Time in Oracle Payables tracks the duration from invoice receipt to approval, measuring operational efficiency.
#Question
Which feature in Oracle Payables aids in managing payment schedules effectively?
A.Invoice Processing
B.Purchase Management
C.Vendor Default Terms
D.Payment Terms Configuration
Correct Answer:
D
Payment Terms Configuration helps manage how and when payments are scheduled to ensure compliance with agreements.
#Question
How can companies handle disputes with vendors effectively in Oracle Payables?
A.By terminating contracts
B.By ignoring the issues
C.By gathering only internal data
D.By promptly addressing concerns
Correct Answer:
D
Addressing vendor disputes promptly and transparently is essential for maintaining healthy relationships and resolving issues.
240-1z0-1055-21: Oracle Financials Cloud: Payables 2021 Implementation Essentials
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