Practice on 2023 LATEST 1z0-1055-22 Exam Updated 142 Questions
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Oracle 1z0-1055-22 Exam Syllabus Topics:
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NEW QUESTION 43
What data can you find in an Oracle Transactional Business Intelligence subject area attribute column?
- A. information about a business object with values that are dates, Ids or text
- B. data that is metric and can be added up or aggregated
- C. data that provides a measure of something
- D. values that are organized into parent-child relationships
Answer: A
NEW QUESTION 44
Which two are classified as Self-Billed invoices? (Choose two.)
- A. Invoices created using Integrated Imaging
- B. Customer Refunds initiated from Receivables
- C. Expense Reports transferred from Expenses
- D. Invoices entered through the Supplier Portal
- E. Debit Memos created by the Return to Supplier feature
- F. Evaluated Receipt Settlement (ERS) Invoices
Answer: D,F
Explanation:
Select ERS and Use in the Transaction source parameter when running the Pay on Receipt Auto-invoice concurrent program.
You enable paying your supplier by selecting a method on the Purchasing tab of the Supplier Sites window in Oracle Payables.
NEW QUESTION 45
What is the invoice type of an unapproved, unmatched invoice that was created in the Supplier Portal?
- A. Credit Memo
- B. iSupplier Invoice
- C. Supplier payment request
- D. Standard Invoice
- E. Standard invoice request
Answer: E
Explanation:
Standard invoice request: An invoice submitted without a purchase order by a supplier through Oracle Fusion Supplier Portal thatis pending review and approval by the appropriate persons within the deploying company.
References:https://docs.oracle.com/cd/E37583_01/doc.1116/e22897/F431919AN100ED.htm
NEW QUESTION 46
Your customer has implemented English as base language and French as a local language. The customer's bank needs the payment file to be sent to them in French. What is the relevant step to do this for preparing the payment template?
- A. Create your template in English language, then upload it to Business Intelligence (BI) under the custom/payment folder, under the templates region. Use English locale and generate the XLIFF file. Then upload the file back under the translated region.
- B. Create your template in the local language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region. Use English locale and generate the XLIFF file. Then upload the file back under the translated region.
- C. Create your template in the local language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with English locale.
- D. Create your template in English language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with country locale.
Answer: A
NEW QUESTION 47
Which statement is true about selecting a bank account on the Create Payment page?
- A. LE on the bank account should be different from the LE on the invoice.
- B. Bank account must match the supplier's bank account.
- C. LE on the bank account should be equal to LE on the invoice.
- D. There is no relationship between the business unit, bank, and LE. Users can pick any bank account that is setup in their system.
- E. Users can pick any bank account as long as the bank account is tried to the business unit.
Answer: C
Explanation:
Note: LE = legal entity
NEW QUESTION 48
Which three are supported image formats for the Integrated Imaging solution? (Choose three.)
- A. RTF
- B. JPEG
- C. XLS
- D. PNG
- E. TIFF
Answer: B,D,E
NEW QUESTION 49
You are using both Procurement and Financials. You want the system to automatically accrue uninvoiced receipts. Select two true statements. (Choose two.)
- A. For period end accruals, accounting is created at material receipt or at delivery to a final destination.
- B. For period end accruals, the invoice accounting debits the expense account and credits the liability account.
- C. For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account.
- D. For period end accruals, the invoice accounting for inventory items debits receipt inventory and credits the uninvoiced receipts.
Answer: B,C
NEW QUESTION 50
What are the two advantages of using a spreadsheet for correcting invoice import errors? (Choose two.)
- A. identification of errors with clear error messages at the invoice header and line levels
- B. ability to correct errors within the spreadsheet and send invoice corrections for approval
- C. ability to correct errors and re-import invoices directly from a spreadsheet
- D. ability to enter a high volume of invoices via a spreadsheet
- E. identification of errors with clear error messages at the invoice header level only
Answer: C,D
Explanation:
A: You can fix the interface table data using the Correct Import Errors spreadsheet and resubmits the import process.
E: Consider using the spreadsheetto:
Expedite high volume invoice entry for simple invoices that don't require extensive validation.
Create invoices with similar lines.
Maximize the use of spreadsheet features, such as copy and paste, or hide and unhide.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011878.htm
NEW QUESTION 51
An installment for $2,000 USD is due for payment on July 31, 2018. The installment has two discounts: the first discount date is June 15, 2018 for $150 USD and the second discount date is June 30, 2018 for $50 USD.
You submit a Payment Process Request with the following criteria:
Payment Date = June 20, 2018
Pay Through Date = July 30, 2018
Date Basis = Due Date
What will be the resulting status of the installment and discount?
- A. The installment is selected and a discount of $150 USD is applied.
- B. The installment is selected and no discount is applied.
- C. The installment is not selected because the due date is after the Pay Through Date.
- D. The installment is selected and a discount of $50 USD is applied.
- E. The installment is not selected because the discount dates are before the Pay Through Date.
Answer: C
Explanation:
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm#FAPPP1011879
NEW QUESTION 52
A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?
- A. Manage common options for Payables and Procurement and Manage Procurement agents
- B. Manage Payable Options and Manage Invoice Options
- C. Manage Payment Options and Manage common options for Payables and Procurement
- D. Manage Invoice Options and Manage Procurement agents
- E. Manage Invoice Options and Manage common options for Payables and Procurement
Answer: B
Explanation:
You can change the conversion rate type at invoice entry or payment creation time.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAIPP/FAIPP1470345.htm
NEW QUESTION 53
An installment meets all of the selection criteria of a Payment Process Request but it still did not get selected for payment processing. Identify two reasons for this.
- A. The invoice has not been accounted.
- B. The installment was manually removed.
- C. The pay-through date is in a future period.
- D. The invoices need revalidation.
- E. The pay-through date is in a closed Payables period.
Answer: D,E
Explanation:
An installment can meet the selection criteria of a payment process request, yet not get selected for payment for one or more reasons.
You can review installments that were not selected for payment, along with the reasons they were not selected, on the Not Selected tab of the Review Installments page.
The reasons are as follows:
References:https://docs.oracle.com/cd/E37017_01/doc.1115/e22897/F438410AN16238.htm
NEW QUESTION 54
Select three reasons why you cannot close your Payables period. (Choose three.)
- A. unapplied prepayments
- B. open intercompany transactions
- C. bills payable requiring maturity
- D. unaccounted invoices and payments
- E. suppliers on payment holds
Answer: B,C,D
Explanation:
The types of exceptions reported are:
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9DE8D32BDBE0FBADE040D30A688146CA
NEW QUESTION 55
Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?
- A. Define a Tax Status and Rate for Exempt, define a Supplier Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification.
- B. Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers.
- C. Define a Tax Status and Rate for Exempt, define a Party Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Party Fiscal Classification.
- D. Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab.
Answer: A
NEW QUESTION 56
You are evaluating the predefined expense report approval rules within your test environment to see if they meet current business requirements.
Which three rule sets are part of the predefined setup? (Choose three.)
- A. Approval by supervisor based on report amount
- B. Approval by a Group based on report amount in parallel or serial mode
- C. Approval by Project Manages in parallel or serial mode
- D. Approval by supervisor based on expenses type amount
- E. Approval by Cost Centre owners in parallel or serial mode
Answer: A,C,E
Explanation:
Approval by cost center owners in parallel mode
Approval by cost center owners in serial mode
Approval by project managers in parallel mode
Approval by project managers in serial mode
Approval by supervisor based on report amount
NEW QUESTION 57
During an expense audit the auditor marks an expense item that is missing a receipt to be Short Paid. They choose to complete the audit and warn the user.
Given that the Expense Report Audit Approval is set to After Manager Approval, what two are valid results of the auditor action? (Choose two.)
- A. Approved part of the expense report is not eligible for expense reimbursement.
- B. The approved part of the expense report is eligible for expense reimbursement.
- C. New expense report containing disallowed expense items is not created until manager approves the short payment.
- D. New expense report containing disallowed expense items is immediately created.
Answer: A,D
Explanation:
New expense report containing disallowed expense items is immediately created.
Expense report isn't eligible for expense reimbursement.
NEW QUESTION 58
Which three types of payments can you make if you have access to Disbursement Process Management Duty? (Choose three.)
- A. Ad hoc payments
- B. Employee advances
- C. Reimbursement of employee expense reports
- D. Supplier payments
- E. Customer refunds
Answer: A,B,E
NEW QUESTION 59
When working with reference data sets in Payables, what reference data sharing method can you use for Payables Payment Terms?
- A. Assignment to one set only; no common values allowed
- B. Assignment to multiple sets with common values allowed
- C. Assignment to one set only with common values
- D. Assignment to multiple sets; no common values allowed
Answer: D
Explanation:
Assignment to multiple sets, no common values allowed. The method of sharing reference data that allows a reference data object instance to be assigned to multiple sets. For instance, Payables Payment Terms use
this method.
NEW QUESTION 60
You purchased a computer from Company A for 2000 USD. Company B ships you the computer with freight charges of 100 USD. You would like the cost of the computer to include those freight charges.
How can you achieve this?
- A. Choose to Match to Invoice Lines.
- B. Choose to Match in full to the Purchase Order.
- C. Choose to Match to Receipt Charges.
- D. Enter the Invoice manually and add the freight line.
- E. Choose Match to Receipt.
Answer: C
NEW QUESTION 61
When creating a check payment, from where is the payment document defaulted?
- A. Bank Account
- B. Legal Entity
- C. Supplier
- D. Bank
- E. Business Unit
Answer: A
Explanation:
Create Check
This step shows how to create a check to pay the customer for theclaim. The customer will be paid with the designated amount in Oracle Payables.
Navigation: Actions > Pay in Full.
Notes:
Bank Account: Select BofA.
Document: Select Check.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e16295/T544851T544993.htm
NEW QUESTION 62
An Office supplies company requires an advance payment of $8000 for the office supplies you wish to order. You enter and pay a prepayment type invoice for $8000. You enter the standard invoice to book the expense which totals $10000 and you apply the prepayment to the standard invoice.
What are the accounting entries for that standard invoice with the prepayment application?
- A. Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability 8000 Cr Prepayment Account 8000.
- B. Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability Account 2000 Cr Prepayment Account 2000.
- C. Invoice accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.The prepayment application has no impact on the Invoice.
- D. Invoice Accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr Expense Account 8000 Cr Prepayment Account 8000.
Answer: C
NEW QUESTION 63
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