Oracle 1z1-507 Actual Free Exam Questions & Community Discussion

Exam Code/Number: 1z1-507
Exam Name/Title: Oracle Fusion Financials 11g Accounts Payable Essentials
Certification Provider: Oracle
Corresponding Certification: 11g

Exam Questions: 119
Updated On: Aug 14, 2026

Question #1

Which three duty roles are granted to the Corporate Card Administrator?

A. Corporate Card Transaction Review Duty

B. Expense Export Duty

C. Corporate Card Transaction Management Duty

D. Corporate Card Issuer Payment Request Management Duty

E. Business Intelligence Applications Worker

Discussion 0

Correct Answer: C,D,E Vote an answer

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Question #2

Identify two duty roles that are granted to a Tax Administrator.

A. Financial Application Lookups Administration Duty

B. French DAS2 Reporting Duty

C. Classification Administration Duty

D. Customer Account Addresses Inquiry Duty

E. Internal Contact Relationship Information Inquiry Duty

Discussion 0

Correct Answer: A,C Vote an answer

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Question #3

A company has a requirement to default the disbursement bank account during the payment process request.
Which two actions will accomplish this?

A. Define the Disbursement Bank Account at the user level; the payment process derives the disbursement hank account associated with the user.

B. Define the Disbursement Bank Account at the Business Unit level; the payment process derives the disbursement hank accounts based on the business unit.

C. Define the Disbursement Bank Account in the Payment Method; the payment process derives the disbursement bonk accounts based on the Payment Method.

D. Define the Disbursement Bank Account in the Payment Process Profile; the payment process derives the disbursement bank accounts based on the Payment Process Profile.

E. Create a payment Process Request template with the disbursement bank account so that it becomes the default.

Discussion 0

Correct Answer: D,E Vote an answer

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Question #4

The Payment Process Request section of the Accounts Payables dashboard has a tab called Recently Completed. This tab displays all the payment process requests completed in the last_________.

A. 15 days

B. 30 days

C. 10 days

D. 7 days

E. 21 days

Discussion 0

Correct Answer: D Vote an answer

Question #5

What is the validation status of an invoice after it is loaded using the Launch Import Invoice program?

A. Not required

B. Validated

C. Needs revalidation

D. Never validated

E. Revalidated

Discussion 0

Correct Answer: D Vote an answer

Question #6

Identify two invoice approval actions that can be performed from the Accounts Dashboard.

A. Stop Approval

B. Hold from Approval

C. Approve

D. Resubmit for Approval

E. Reject

Discussion 0

Correct Answer: A,C Vote an answer

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Question #7

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 first day of the new period specified.

B. The accounting date of the Invoice will change to the same day of next 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 NOT change but the user can close the existing period

E. The accounting date of the invoice will change to the same day of the new period specified.

Discussion 0

Correct Answer: A Vote an answer

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Question #8

Identify three scenarios where you are NOT allowed to cancel an invoice.

A. An accounting entry has been created for the invoice.

B. Prepayments were applied to the invoice.

C. The invoice was adjusted by a credit or debit memo.

D. The invoice is fully or partially paid.

E. The invoice is validated.

Discussion 0

Correct Answer: B,C,D Vote an answer

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Question #9

In which two ways will an invoice be impacted when an inclusive prepayment is unapplied from it?

A. The invoice accounting status changes to Partially Accounted.

B. The invoice paid status changes from Partially Paid to Unpaid.

C. The invoice validation status changes to Needs Revalidation.

D. An installment is created for the prepayment amount.

E. The unpaid invoice amount is increased by the amount of the prepayment.

Discussion 0

Correct Answer: B,E Vote an answer

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Question #10

Which three options are true regarding the association of a receipt to an expense report?

A. Users can maintain a physical receipt and provide a reference number in the expense report.

B. Users can add a receipt manually to the expense report at the report level.

C. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.

D. Users can fax or email receipts with bar-coded cover sheets.

E. Users can add a receipt to the expense report at the line level.

Discussion 0

Correct Answer: C,D,E Vote an answer

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