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Accounts Payable Specialist Certification IOFM EXAM Newest 2025-2026 Complete All Questions And Correct Detailed Answers (Verified Answers) |Already Graded A+||Brand New Version!
Select three statements about the submission of invoices by suppliers using Supplier Portal. (select 3)
- A supplier can submit a single invoice against multiple purchase
- A supplier can submit invoices against open, approved, standard, or
- A supplier can validate the invoice after submitting it.
- A supplier can submit a single invoice against multiple purchase
- A supplier can not make changes to the invoice after submitting it. -
orders across different currencies and organizations.
blanket purchase orders that are not fully billed.
orders, provided the currency and organization, for all the invoice items are the same as those on the purchase orders.
ANSWER-B, D, & E
Which two statements are true about processing corporate card expenses? (select 2)
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- Conversion rate defaults are applicable to corporate card expenses,
- You can process payment for credit card using Electronic funds
- Usage policy for expense category tolerances does not apply to credit
- Conversion rate defaults apply only to cash expenses, not to corporate
- Card transactions will be paid directly for Expenses Cloud. -
just as they are applicable to cash expenses.
transfer, check, or wire.
card expenses.
expenses.
ANSWER-C & D
You want to customize the Payables Invoice Register template to only display invoices when the Supplier name is Company A. Supplier name is a group that repeats on every page. Which is the correct way to customize the template?
- Insert the syntax: before the Supplier field and
then enter the closing tag COMPANY A?> after the invoice table.
- Insert the syntax: before
- Hard code Supplier Name "Company A" in the report template and
- Insert the syntax: before the Supplier field and then
the Supplier field on the template. Then enter the tag after the invoices table.
only invoices for that supplier will be displayed.
enter the closing tag condition?>. - ANSWER-B
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The accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct? (select 3)
- Voiding the payment automatically places an invoice on hold.
- Any previous accounting and payment records for an invoice are
- Any realized gain or loss previously calculated is reversed.
- All related withholding tax invoices are automatically voided.
- All related interest invoices are reversed if previously created. -
reversed.
ANSWER-B, C, & E
Which three types of payments can you make if you have access to Disbursement Process Management Duty? (select 3)
- Supplier payments
- Ad hoc Payments
- Employee advances
- Customer refunds
- Reimbursement of employee expense reports - ANSWER-A, D, & E
Identify two ways the invoice imaging solution works in the Cloud.(select 2)
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- Customers scan the invoice on-premise and email the images.
- Customers cannot use invoice imaging in the Cloud.
- Customers scan and store the invoice images on-premise and attach
- Customers ask their suppliers to scan and email the invoice.
- Customers ask suppliers to send electronic invoices. - ANSWER-A &
them during invoice entry.
D
What is the result of voiding a payment?
- The payment is reconciled to the bank statement.
- The payment is no longer valid for payment.
- The stop payment request has been initiated to the bank.
- A bills payable payment was created but is not yet matured. -
ANSWER-B
Which is the Payables tool based on real-time data?
- Essbase Cube
- Oracle Financial Reporting (FR)
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