[Oct 22, 2021] 1Z0-1055-21 Test Prep Training Practice Exam Questions Practice Tests
Exam Questions Answers Braindumps 1Z0-1055-21 Exam Dumps PDF Questions
NEW QUESTION 80
Your company policy requires that receipts be attached to expense report items before reimbursement can be made.
Which two statements are true about the association of a receipt to an expense report? (Choose two.)
- A. Receipts are not required if the expense item falls within Per Diem Rates.
- B. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.
- C. Expenses do not create payment requests for expense reports that have missing or overdue receipts.
- D. An expense report may require original, imaged, or both types of receipts.
Answer: C,D
Explanation:
Explanation
Your company periodically schedules and runs the Generate Overdue and Missing Receipts Notification process that generates overdue receipt notifications.
If receipts are overdue and setup requires that the individual be notified, then Expenses automatically sends a notification to the individual to inform him that receipts are overdue.
An expense report may require original, imaged, or both types of receipts.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.htm
NEW QUESTION 81
Your client wants to retrieve values for the account code based on the invoice line description. For example, Invoice Line Description = Laptop then Account Code = 5670.
Which Subledger Accounting option would you use to achieve this?
- A. Supporting References
- B. Mapping Set
- C. Description Rule
- D. Transaction References
- E. Event Class Settings
Answer: C
Explanation:
Explanation
If you're matching to a purchase order and don't enter a value, the import process uses the item description from the purchase order line.
NEW QUESTION 82
Which attributes on the payables invoice can be used during approval rule creation?
- A. cost center segment and supplier only
- B. supplier only
- C. company and cost center segment only
- D. company segment, cost center segment, supplier, and Attribute 1 on the invoice line
Answer: D
NEW QUESTION 83
Your customer matches their invoices to a purchase order and have noticed that the payment terms are defaulting from the order. For some suppliers, they would like to use the payment terms from the supplier site.
How can the customer achieve this?
- A. Enter the payment terms at the supplier site level so they default onto the invoice.
- B. Enter the payment terms at the Supplier level so they default onto the invoice.
- C. Enter the payment terms in the Manage Payment Options page so they default onto the invoice.
- D. Enter the payment terms in the Manage Invoice Options page so they default onto the invoice.
- E. Manually override the payment terms that have defaulted from the purchase order for those suppliers.
Answer: E
NEW QUESTION 84
Your client is concerned that all expense reports are getting automatically approved by the expenses system despite the setup of an Audit Selection Rule.
What is the reason for this?
- A. The audit selection rule has not been assigned to the business unit
- B. The audit selection rule has not been assigned to the legal entity
- C. An expenses template and type rule has not been setup
- D. Auditing has not been enabled in the system options page
- E. The audit selection rule has not been assigned in the system options page
Answer: A
Explanation:
Explanation
Assign audit rules to business units.
NEW QUESTION 85
A Payables supervisor wants to apply a prepayment to an invoice.
Which combination of invoice and payment currencies allow the application of a prepayment to an invoice?
- A. Standard Invoice: Invoice Currency CAD, Payment Currency GBP
Prepayment: Invoice Currency USD, Payment Currency AUD - B. Standard Invoice: Invoice Currency USD, Payment Currency USD
Prepayment: Invoice Currency CAD, Payment Currency CAD - C. Standard Invoice: Invoice Currency USD, Payment Currency GBP
Prepayment: Invoice Currency USD, Payment Currency AUD - D. Standard Invoice: Invoice Currency USD, Payment Currency CAD
Prepayment: Invoice Currency CAD, Payment Currency CAD
Answer: C
Explanation:
Explanation
You can pay a prepayment in a currency that's different from the invoice currency. To apply that prepayment to an invoice, the invoice must have the same invoice currency as the invoice currency of the prepayment.
NEW QUESTION 86
You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid?
- A. Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero.
- B. Both the invoice and credit memo are included in the payment process request for a payment amount of
$0 USD. The credit memo is partially paid with a remaining credit of $25 USD. - C. Both the invoice and the credit memo are paid and a refund of $25 USD is created.
- D. Both the invoice and the credit memo are selected and the Payment Process Request requires attention.
Answer: B
Explanation:
Explanation
When you submit a "payment process request", you can enable the Apply credits up to zero amount payment option. Enabling the option causes the payment process to apply credits when the credits reduce the payment amount below zero.
The following scenario illustrate the impact of this option.
Credit Amount Greater Than Invoice Amount
An invoice for 200 USD and a credit memo for 225 USD are due for payment.
The following tabledescribes the payment processing that occurs based on the setting for the Apply credits up to zero amount payment option.
Assume that the "Apply Credits Up to Zero Amount" option is enabled.
Payment processing applies 200 USD of the credit memo to the invoice and creates a payment for 0 USD. The remaining credit is 25 USD.
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9F438E13CC89BA0CE040D30A68816F7
NEW QUESTION 87
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 88
Which component is not included in the security architecture for credit card data and bank account data encryption?
- A. Payments subkeys
- B. Supplier master encryption key
- C. Sensitive data encryption and storage
- D. Payments master encryption key
- E. Oracle Wallet
Answer: B
NEW QUESTION 89
You have an invoice for a three-month lease and wish to recognize the expense monthly for the duration of the lease.
What must be entered on the invoice in order to do this?
- A. You must provide a start date, an end date, and the accrual account for the prepaid expenses in the invoice lines or distributions.
- B. You must provide the accrual account for the prepaid expenses in the invoice lines or distributions.
- C. You must provide a start date and an end date for the prepaid expenses in the invoice lines or distributions.
- D. You must provide a start date and the accrual account for the prepaid expenses in the invoice lines or distributions.
Answer: B
NEW QUESTION 90
Which three are subject area subfolders that report Payables reconciliation differences to General Ledger?
(Choose three.)
- A. Reconciliation Invoice Details
- B. Reconciliation Invoice Request Details
- C. Reconciliation Payment Details
- D. Reconciliation Invoice Hold Details
- E. Reconciliation Prepayment Application Details
Answer: A,C,E
NEW QUESTION 91
Which three attributes are captured during the scanning of invoice images?
- A. Invoice Date
- B. Invoice Number
- C. Terms Date
- D. Payment Method
- E. PO Number
Answer: A,B,E
Explanation:
Explanation
For Payables invoice processing, PO number, supplier, invoice number, invoice amount, invoice date, customer taxpayer ID, and business unit are extracted as part of the predefined configurations.
This figure shows the Scanned information tileon the Invoices landing page.
References:http://docs.oracle.com/cd/E36909_01/fusionapps.1111/e20375/F569958AN60E65.htm
NEW QUESTION 92
In the implementation project, there is a requirement to add new transactional attributes to the Expense Approver Report workflow notification.
Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.)
- A. The Style-Template
- B. The Data Model
- C. The Output types
- D. The original Source
- E. The layout-template
Answer: A,E
Explanation:
Explanation
Style Template: Provides styles such as the type of lines and fonts to use in tables, or the font type, size, and color to use for headings Report: Contains a layout template that determines:
Which attributes appear in the notification, from the data model used for the report What the notification looks like, leveraging components from the subtemplate and styles from the style template used for the report
NEW QUESTION 93
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 Invoice Options and Manage common options for Payables and Procurement
- B. Manage Payable Options and Manage Invoice Options
- C. Manage Invoice Options and Manage Procurement agents
- D. Manage common options for Payables and Procurement and Manage Procurement agents
- E. Manage Payment Options and Manage common options for Payables and Procurement
Answer: B
Explanation:
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 94
You have created an approval rule as follows:
Rule 1: If the invoice amount > $1000, route it to User 1.
Rule 2: If the invoice amount < $1000, auto approve it.
Now, the user creates an invoice for $1000 and routes it for approval.
What will happen?
- A. Invoice will be auto-approved.
- B. Invoice will be sent to User 1 for approval.
- C. The initiate option is greyed out for the invoice.
- D. The workflow will fail once approval is initiated.
Answer: D
NEW QUESTION 95
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 job roles to each auditor.
- B. Assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles to each Expense 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: B
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 96
You use corporate cards with expenses and have implemented the Company Pay payment option. An employee incurred the following expenses.
What is the resulting payment amount made to the employee for these expenses?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: B
Explanation:
Explanation
Company Pay: Your company pays the corporate card issuer for all transactions.
NEW QUESTION 97
You applied a prepayment amount of $5,000 USD to a $10,000 USD invoice. At the time of prepayment, the applicable tax rate was 5% ($250 USD); at the time of invoice creation, the tax rate is 10%. When you set up taxes, you choose to Recalculate Taxes for the Applied Amount Handling option.
How will the resulting tax be calculated?
- A. The tax for the prepayment is recalculated to use the new invoice tax rate that is also used for the invoice line amount. The two generated tax lines show $1,000 USD (10% * 10,000) for the invoice line tax amount and a prepayment tax line of -500 USD (10% * -5000).
- B. The tax calculation creates two tax lines: one for the invoice line amount and one for the prepayment with a negative amount. The two generated tax lines show $1,000 USD (10% * 10,000) for the invoice line tax amount and a prepayment tax line of -250 USD (5% * -5000).
- C. The tax calculated on the prepayment is reversed completely and the tax rateapplied to the invoice line is retained.
- D. The tax for the prepayment is recalculated and the generated tax line amount will be $250 USD (5% *
10,000-5000).
Answer: A
Explanation:
Explanation
When you apply a prepayment to an invoice, the tax rate at the time of prepayment may differ from the tax rate at the time that the prepayment is applied to an invoice. Oracle Fusion Tax considers the tax calculated on the prepayment according to the value assigned to the Applied Amount Handling option in the tax record. The values are Recalculated and Prorated.
For example, you apply a prepayment amount of 5,000 USD to an invoice with a total amount of10,000 USD.
At the time of prepayment, the applicable tax rate was 5% (250 USD tax on the prepayment); at the time of invoice creation, the applicable tax rate is 10%. Tax is calculated in this way:
* Recalculated: The tax is recalculated on the prepayment using the invoice tax rate and the same tax rate is applied to the invoice line amount. The tax calculation creates two tax lines: one for the invoice line amount and one for the prepayment with a negative amount. In the invoice example, the calculationcreates an invoice line amount tax line of 1,000 USD (10% * 10,000 USD) and a prepayment tax line of -500 USD (10% * -5000 USD). This reverses tax calculated on the invoice for the prepayment amount applied. The tax calculated on the prepayment is retained.
* Prorated:Etc.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAFTT/F1006655AN242EE.htm
NEW QUESTION 98
You want 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. InvoiceApproversParallelParticipantInParallelMode
- B. Invoice Approvers
- C. InvoiceApproversSingleParticipantInParallelMode
- D. InvoiceApproversFYIParticipantInParallelMode
Answer: A
NEW QUESTION 99
You created a payment and before it is cashed by the supplier you mistakenly submitted a request to stop payment. Later you canceled the request to stop payment. What is the resulting payment status?
- A. Voided
- B. Negotiable
- C. Stop initiated
- D. Canceled
- E. Cleared
- F. Available
Answer: B
Explanation:
Explanation
To release a stop on a payment:
References:https://docs.oracle.com/cd/A60725_05/html/comnls/us/ap/adjpmt04.htm
NEW QUESTION 100
In the Business Intelligence Publisher (BIP) report layout properties page, when you click Extract Translation, the BIP publisher extracts the translatable strings from the BIP report template and exports them into which format?
- A. .pdf (Acrobat reader file)
- B. .xlf (XLIFF file)
- C. .doc (Word file)
- D. .xls (Excel file)
Answer: B
Explanation:
Explanation
BI Publisher extracts the translatable strings from the template and exports them to an XLIFF (.xlf file).
NEW QUESTION 101
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. Copy and modify the existing template to alter the positions as requested by the bank.
- B. Oracle Data Integrator or Golden Gate can be used to map the fields as required.
- C. Create a newpayment process profile and a new format program.
- D. Keep the payment process profile and leave the format programs unchanged.
- E. No change in the template is needed as we can achieve this using user-defined validations to move the positions as required.
- F. Create a new template to make changes as requested by the bank.
Answer: A,F
NEW QUESTION 102
Which method can you use to route payment approval rules?
- A. Sequential
- B. Parallel
- C. Serial and FYI (For Your Information)
- D. Both Parallel and Sequential
- E. Approval Groups
Answer: A
NEW QUESTION 103
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