Free Oracle 1z1-961 Exam Dumps Questions & Answers

Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?

• A.General Ledger Financial Statements and the Accounts Payable and Invoice Registers
• B.Payables Aging reports with the General Ledger Trial Balance report
• C.Payables to Ledger Reconciliation report
• D.Payables Trial Balance and General Ledger Trial Balance reports

A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?

• A.Manage Invoice Options and Manage common options for Payables and Procurement
• B.Manage common options for Payables and Procurement and Manage Procurement agents
• C.Manage Invoice Options and Manage Procurement agents
• D.Manage Payable Options and Manage Invoice Options
• E.Manage Payable Options and Manage common options for Payables and Procurement

Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?

• A.Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers.
• B.Define a Tax Status and Rate for Exempt, define a Party Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Party Fiscal Classification.
• C.Define a Tax Status and Rate for Exempt, define a Supplier Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification.
• D.Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab.

Select three reasons why you cannot close your Payables period. (Choose three.)

• A.bills payable requiring maturity
• B.unaccounted invoices and payments
• C.suppliers on payment holds
• D.open intercompany transactions
• E.unapplied prepayments

You need to submit a 1099 report; your State format has changed slightly since last year. How should you submit your 1099s for the State in the current year?

• A.Manually enter the 1099s for the State and submit.
• B.Run and submit your 1099s because it will automatically reflect any changes.
• C.Generate a 1096 form and submit it instead.
• D.Edit the 1099 template to reflect the changes, and then run and submit the 1099 report.