Oracle Financials Cloud: Accounts Payable 2017 Implementation Essentials — Question 61

Before you can configure payment approval rules, your company must define a payment approval policy. Which three are done by the payment approval policy?

Answer options

• A. It allows approvers to review payments and decide whether or not to approve a payment.
• B. It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.
• C. It defines a list of approvers who review payments and make final payment decisions.
• D. It defines when to initiate the payment approval process.
• E. It determines which payments must go through the payment approval process.

Correct answer: B, C, D

Explanation

The correct answers, B, C, and D, relate to defining the criteria, approvers, and initiation timing for the payment approval process, which are essential for proper governance. Option A is incorrect because it describes the role of approvers rather than the policy itself, and option E, while relevant, does not fit the criteria of defining the functions of the policy as explicitly as the correct answers do.