Latest [Sep 09, 2021] Oracle 1z0-1055-20 Exam Practice Test To Gain Brilliante Result
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NEW QUESTION 26
The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct? (Choose three.)
- A. Any previous accounting and payment records for an invoice are reversed.
- B. All related interest invoices are reversed if previously created.
- 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.
Answer: A,B,D
Explanation:
Explanation
D: When you void a payment, Payables automatically reverses the accounting and payment records so your general ledger will have the correct information, and so the status of the paid invoices is reset to Unpaid. Payables also reverses any realized gains or losses on foreign currency invoices recorded as paid by the payment.
B: If you withhold taxes at payment time and you void a payment that paid an invoice with an associated withholding tax invoice, then Payables automatically creates a negative (reversing) invoice for the tax authority supplier to offset the amount of the tax withholding invoice. You determine when you withhold taxes by selecting the Apply Withholding Tax option in the Payables Options page.
References: Oracle Payables User's Guide, Voiding Payments Using the Payments Window
NEW QUESTION 27
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 not selected because the discount dates are before the Pay Through Date.
- B. The installment is selected and a discount of $150 USD is applied.
- C. The installment is selected and no discount is applied.
- D. The installment is selected and a discount of $50 USD is applied.
- E. The installment is not selected because the due date is after the Pay Through Date.
Answer: E
Explanation:
Explanation
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm#FAPPP1011879
NEW QUESTION 28
Which three are invoice types that can be entered using the Supplier Portal? (Choose three.)
- A. Invoices that are created from the Evaluated Receipt Settlement (ERS) process
- B. Invoices that are automatically created when the supplier creates an ASN for drop shipments
- C. Non purchase order matched invoices
- D. Purchase order matched invoices
- E. B2B XML invoices
Answer: A,D,E
NEW QUESTION 29
While entering an expense report for your corporate card transactions, you notice that the conversion rate defined in the Manage Conversion Rates and Policies page is not used.
What is the reason?
- A. Only cash transactions use those settings.
- B. You did not define conversion rates in the General Ledger Cloud.
- C. You did not define conversion rates for your business unit.
- D. You did not specify a default expense template.
Answer: A
Explanation:
Explanation
Conversion rate behavior applies only to cash expenses, not to corporate card expenses.
References:https://docs.oracle.com/cd/E60665_01/financialscs_gs/FAIEX/F1456644AN125F2.htm
NEW QUESTION 30
You need to route invoices to three different approvers at the same time, and only one approver needs to approve the invoice.
Which approval ruleset should you use?
- A. FyiTypeParticipantInParallelModeRuleSet
- B. ParallelTypeParticipantInParallelModeRuleSet
- C. InvoiceApprovalRuleSet
- D. SingleTypeParticipantInParallelModeRuleSet
Answer: B
NEW QUESTION 31
You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?
- A. Imported
- B. Not Validated
- C. Validated
- D. Not Required
- E. Needs Revalidation
Answer: A
Explanation:
Explanation
After the import process builds the invoices, the invoices can be viewed, modified, and validated on the Manage Invoices page.
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_A149B7BD08207B6DE040D30A6881633
NEW QUESTION 32
Before you can configure payment approval rules, your company must define a payment approval policy.
Which three are done by the payment approval policy? (Choose three.)
- A. It defines a list of approvers who review payments and make final payment decisions.
- B. It allows approvers to review payments and decide whether or not to approve a payment.
- C. It determines which payments must go through the payment approval process.
- D. It defines when to initiate the payment approval process.
- E. It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.
Answer: A,D,E
NEW QUESTION 33
You have 10 ledgers and 30 business units and want to leverage Preference Data Sets. What is the function of Reference Data Sets?
- A. allow you to assign multiple business units to users in a shared service center
- B. allow you to share reference data, such as payment terms, across multiple business units to avoid redundant setup
- C. allow you to maintain sets of related data in a Data Dictionary
- D. allow you to secure data by business unit
Answer: B
Explanation:
Explanation
Reference Data Sets
You begin this part of your implementation by creating and assigning reference data to sets. Make changes carefully as changes to a particular set affect all business units or application components using that set. You can assign a separate set to each business unit for the typeofobject that is being shared. For example, assign separate sets for payment terms, transaction types, and sales methods to your business units.
Your enterprise can determine that certain aspects of your corporate policy can affect all business units. The remaining aspects are at the discretion of the business unit manager to implement. This allows your enterprise to balance autonomy and control for each business unit. For example, your enterprise holds business unit managers accountable for their profitand loss, but manages working capital requirements at a corporate level.
In such a case, you can let managers define their own sales methods, but define payment terms centrally. In this example:
Each business unit has its own reference data set for salesmethods.
One central reference data set for payment terms is assigned to all business units.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAIGL/FAIGL1493157.htm#FAIGL94314
NEW QUESTION 34
What is the difference between subject areas that append the word "Real Time" and those that do not?
- A. The "Real Time" subject areas are based on real-time transactions and those that are not, are based on historical data.
- B. There is no difference.
- C. The "Real Time" subject areas are based on real-time transactions in the applications, and those that are not, are based on data stored in the Oracle Business Intelligence Applications data warehouse.
- D. The "Real Time" subject areas are based on subledger transactions and the ones that are not are based on general ledger balances.
Answer: C
Explanation:
Explanation
In Oracle Fusion applications, there are two types of subject areas:
Subject areas whose names usually end with Real Time and access real-time (transactional) data.
Subject areas whose names usually do notend with Real Time and access data warehouse data.
References: https://docs.oracle.com/cloud/farel8/common/OATBI/postinstallation.htm
NEW QUESTION 35
Which three are attributes that are recognized by Invoice Imaging? (Choose three.)
- A. Invoice Number
- B. Terms Date
- C. PO Number
- D. Payment Method
- E. Invoice Date
Answer: A,C,E
NEW QUESTION 36
You have two business units, Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?
- A. Assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles to each Expense Auditor.
- B. Assign the Expense Auditor job roles to each auditor.
- C. Assign the Expense Auditor as the owner of each business unit.
- D. Use segment valuesecurity rules to secure access to business units.
Answer: A
Explanation:
Explanation
You can enable expense auditors to audit expense reports for specific business units by assigning them specific expense auditor data roles for the business units. For example, to allow an expense auditor toaudit expense reports for the Vision Operations and Vision Services business units, assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles, respectively, to the expense auditor.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.ht
NEW QUESTION 37
Which two statements are true related to configuration package? (Choose two.)
- A. You can export and import selected business object services.
- B. You can export and import the allocation rules from the allocation manager.
- C. You can export and import selected business units.
- D. You can export and import the approval rules from the approval management engine.
- E. You can export and import the custom roles from Oracle Identity Manager.
Answer: A,E
NEW QUESTION 38
What two job roles are required to access information within Functional Setup Manager? (Choose two.)
- A. IT Security Manager
- B. Functional Setup Manager Superuser
- C. Application Implementation Consultant
- D. Application Implementation Manager
- E. Any Functional User
Answer: C,D
Explanation:
Explanation
Provision the implementation user with the Application Implementation Manager job role or the Application Implementation Consultant job role by usingthe Security Console Users tab.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FACSF/FACSF1004385.htm
NEW QUESTION 39
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 Match to Receipt.
- B. Choose to Match to Invoice Lines.
- C. Enter the Invoice manually and add the freight line.
- D. Choose to Match in full to the Purchase Order.
- E. Choose to Match to Receipt Charges.
Answer: E
NEW QUESTION 40
Which two statements are true about processing corporate card expenses? (Choose two.)
- A. You can process payment for credit card using Electronic funds transfer, check, or wire.
- B. Usage policy for expense category tolerances does not apply to credit card expenses.
- C. Card transactions will be paid directly from Expenses Cloud.
- D. Conversion rate defaults apply only to cash expenses, not to corporate card expenses.
- E. Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses.
Answer: B,D
Explanation:
Explanation
Conversion rate behavior applies only to cash expenses, not to corporate card expenses.
To enable your company to pay a corporate card issuer, you enter a default payment method, whether check, EFT (Electronic funds transfer), or wire, in the Address Payment Information region of the Edit Corporate Card Issuer page, as well as bank account information.
References:
https://docs.oracle.com/cloud/latest/financialscs_gs/FAIEX/FAIEX1456644.htm
https://docs.oracle.com/cd/E48434_01/fusionapps.1118/e49599/F1110434AN7B1F9.htm
NEW QUESTION 41
What happens if a company runs the Payables Unaccounted Transactions Sweep program for February 2018 if the invoices with a Hold status have an invoice date of January 20, 2018?
- A. The accounting dates of all unaccounted invoices will be changed to February 1, 2018, the first day of the next period.
- B. The accounting dates of all unaccounted invoices will change to February 28, 2018, the last day of the next period.
- C. The accounting dates of all unaccounted invoices will remain unchanged at January 20, 2018.
- D. The accounting dates of all unaccounted invoices will be changed to February 20,2018, the same day of the next period.
Answer: A
Explanation:
Explanation
Run the Payables Unaccounted Transactions Sweep program to transfer unaccounted transactions from one accounting period to another. If your accounting practices permit it, use this program to change the accounting date of the transactions to the next open period.
The program transfers unaccounted transactions to the period you specify by updating the accounting dates to the first day of the new period.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011880AN1B948.htm
NEW QUESTION 42
The expense auditor has chosen to Request More Information for an expense report. Select two ways the system processes this action. (Choose two.)
- A. The expense report is routed back to the approvers.
- B. The employee must resubmit the expense report.
- C. The audit can be completed before the requested information is received from the employee.
- D. The expense report status remains Pending Payables Approval.
Answer: A,D
Explanation:
Explanation
To request more information for an expense report, select the Request More Information option from the Actions menu in theheader of the Audit Expense Report page. The employee receives a notification that includes the reason for the request, specific instructions, and any additional instructions from you. Selecting the Request More Information action results in the following:
References:https://docs.oracle.com/cd/E60665_01/financialscs_gs/FAWDE.pdf
NEW QUESTION 43
Which attributes on the payables invoice can be used during approval rule creation?
- A. supplier only
- B. company segment, cost center segment, supplier, and Attribute 1 on the invoice line
- C. cost center segment and supplier only
- D. company and cost center segment only
Answer: B
NEW QUESTION 44
Your customer has requested a modification to the payment file to meet the acceptable bank standards. The changes were based on a format of a seeded payment process profile which is already in use. The only changes made are to the field positions. What two steps can make these changes work?
- A. Create a new template to make changes as requested by the bank.
- B. Create a newpayment process profile and a new format program.
- C. Copy and modify the existing template to alter the positions as requested by the bank.
- D. No change in the template is needed as we can achieve this using user-defined validations to move the positions as required.
- E. Keep the payment process profile and leave the format programs unchanged.
- F. Oracle Data Integrator or Golden Gate can be used to map the fields as required.
Answer: A,C
NEW QUESTION 45
You need to have an invoice line automatically distributed across multiple cost centers. For example, you want your monthly utility bill allocated across multiple cost centers based on a percentage.
Select two methods to achieve this. (Choose two.)
- A. Define a distribution set and assign it manually to the invoice.
- B. Define a distribution set and assign it to the supplier.
- C. Configure Subledger Accounting rules to allocate costs.
- D. Choose the 'All Lines' option from the Allocate menu in the invoice line area.
Answer: A,C
Explanation:
Explanation
A: Account Rules by Segment
Define segment rules to derive a specific segment of the general ledger account. For example, a particular segment like the company segment can be determined from the distribution account. Another segment can be determined with the use of a constant value. Creating the account one segment at a time offers greater flexibility, but also requires more setup.
C: You can use a Distribution Set to automatically enter distributions foran invoice when you are not matching it to a purchase order. For example, you can create for an advertising supplier a Distribution Set that allocates advertising expense on an invoice to four advertising departments.
References:https://docs.oracle.com/cd/A60725_05/html/comnls/us/ap/distsets.htm
NEW QUESTION 46
Which three reports are generated by the export setup data process? (Choose three.)
- A. Process Results Detail Listing Report
- B. Process Results Report
- C. Process Results Summary Report
- D. Exported Business Object Report
- E. Setup Data Report
Answer: B,C,E
NEW QUESTION 47
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