Oracle Financials Cloud: Accounts Payable 2017 Implementation Essentials — Question 10

The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct?

Answer options

• A. All related interest invoices are reversed if previously created.
• B. Any previous accounting and payment records for an invoice are reversed.
• C. All related withholding tax invoices are automatically voided.
• D. Any realized gain or loss previously calculated is reversed.
• E. Voiding the payment automatically places an invoice on hold.

Correct answer: A, B, D

Explanation

Options A, B, and D are correct because reversing a payment typically necessitates the reversal of associated interest invoices, prior accounting entries, and any realized gains or losses. Option C is incorrect because voiding the payment does not automatically void withholding tax invoices, and option E is wrong as voiding a payment does not inherently place an invoice on hold.