Oracle 1z1-507 : Oracle Fusion Financials 11g Accounts Payable Essentials

  • Exam Code: 1z1-507
  • Exam Name: Oracle Fusion Financials 11g Accounts Payable Essentials
  • Updated: Sep 12, 2026
  • Q & A: 119 Questions and Answers

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Oracle 1z1-507 Exam Syllabus Topics:

SectionObjectives
Accounting and Period Close- AP accounting entries
- Period end close processes
Payments Processing- Payment methods and formats
- Payment processing and reconciliation
Accounts Payable Overview- AP business processes overview
- AP setup and configuration
Supplier and Invoice Management- Invoice creation and validation
- Invoice matching and approvals
- Supplier setup and maintenance
Reporting and Controls- AP reporting tools and analysis
- Audit and compliance controls

Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:

Question #1

What are the two Online Accounting options available in Oracle Fusion Payables?

  • A. Account and Post to Ledger
  • B. Account in Final and Transfer to Ledger
  • C. Account in Draft
  • D. Account in Draft and Transfer to Ledger
  • E. Account in Final
Reveal Solution  Discussion  0

Correct Answer: C,E  🗳️

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Question #2

What are the three exceptions in the Payables Period Close Exceptions Report?

  • A. Open Intercompany Transactions
  • B. Incomplete Payment Process Request
  • C. Unapplied Prepayments
  • D. Unaccounted Invoices
  • E. Open Interface Import Errors
Reveal Solution  Discussion  0

Correct Answer: A,B,D  🗳️

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Question #3

Which two statements are true about the Invoice Requiring Attention section of the invoice Dashboard?

  • A. lists invoices entered or imported in the past seven days that are NOT yet accounted or accounted for in draft only
  • B. displays invoices rejected in the approval process along with the reason for rejection
  • C. displays Invoices in the system that are waiting for approval *
  • D. displays links to all prepayment type invoices that have NOT been fully applied
  • E. displays all scanned invoices through the Integrated imaging solution that have NOT yet had accounts Payables invoices created
Reveal Solution  Discussion  0

Correct Answer: B,C  🗳️

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Question #4

Which three accounting event types are predefined for the Accounting Event Class Prepayment Applications?

  • A. Prepayment Application Adjusted
  • B. Prepayment Unapplied
  • C. Prepayment Adjusted
  • D. Prepayment Validated
  • E. Prepayment Applied
Reveal Solution  Discussion  0

Correct Answer: A,B,E  🗳️

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Question #5

Identify three invoice options that can be configured on the Manage Invoice Options page for Self-Service Invoices.

  • A. Allow unit price change for quantity based matches.
  • B. Require invoice grouping.
  • C. Allow invoice backdating.
  • D. Require validation before approval.
  • E. Limit the invoice to single purchase order.
Reveal Solution  Discussion  0

Correct Answer: A,C,E  🗳️

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