Oracle Planning 2017 Implementation Essentials — Question 11

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

Answer options

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

Correct answer: B, D, E

Explanation

Answer B is correct because voiding the payment does reverse any prior accounting and payment records associated with the invoice. Answer D is also correct as all related withholding tax invoices are voided automatically when the payment is voided. Similarly, answer E is accurate since all associated interest invoices are reversed if they were generated prior to the payment being voided. Options A and C are incorrect as they do not occur automatically when a payment is voided.