Get 2021 Updated Free Oracle 1z0-1055-20 Exam Questions & Answer
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NEW QUESTION 28
You need to create a payment for a supplier before the next payment run. The invoice you wish to pay is not available for selection in the Create Payment page.
Which two are possible reasons for this? (Choose two.)
- A. The invoice is not yet due.
- B. The payment method for the invoice is Electronic.
- C. The payment supplier site is different to the supplier site on the invoice.
- D. The invoice is not accounted.
- E. The invoice is not validated.
Answer: A,B
NEW QUESTION 29
Which two statements are true about the Invoice Validation process? (Choose two.)
- A. creates accounting entries in draft
- B. updates supplier balances
- C. opens the relevant accounting period
- D. creates tax lines and distributions
- E. validates project information
Answer: D,E
Explanation:
Explanation
Invoice validations
Etc.
References: https://docs.oracle.com/cloud/farel9/financialscs_gs/FAPPP/F1011878AN100C4.htm
NEW QUESTION 30
Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?
- A. The payment term of the invoice overrides the purchase order payment term.
- B. The purchase order payment term cannot be overridden.
- C. The user needs to manually change the payment term on the invoice to match the purchase order payment term.
- D. The payment term of the purchase order overrides the invoice payment term.
- E. The user needs to specify which payment term to use.
Answer: A
NEW QUESTION 31
What is the invoice type of an unapproved, unmatched invoice that was created in the Supplier Portal?
- A. Credit Memo
- B. Supplier payment request
- C. Standard Invoice
- D. iSupplier Invoice
- E. Standard invoice request
Answer: E
Explanation:
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 32
Which method can you use to route payment approval rules?
- A. Parallel
- B. Serial and FYI (For Your Information)
- C. Both Parallel and Sequential
- D. Approval Groups
- E. Sequential
Answer: D
NEW QUESTION 33
Which three are supported image formats for the Integrated Imaging solution? (Choose three.)
- A. JPEG
- B. PNG
- C. RTF
- D. XLS
- E. TIFF
Answer: A,B,E
NEW QUESTION 34
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 35
You have invoices with distributions across primary balancing segments that represent different companies.
What feature should you use if you want the system to automatically balance your invoice's liability amount across the same balancing segments on the invoice distributions?
- A. Intercompany Balancing
- B. Suspense Accounts
- C. Payable's Automatic Offset
- D. Payables' Allow Reconciliation Accounting
- E. Subledger Accounting's Account Rules
Answer: A
Explanation:
Explanation
If you do not enable Automatic Offsets, Payables records the invoice liability using the liability account on the invoice, which defaults from the supplier site. When you distribute invoice distributions across multiple balancing segments, the invoice will not balance by balancing segment. However, General Ledger can automatically create intercompany balancing entries when you post the invoice if you have enabled the Balance Intercompany Journals option for your set of books.
References:https://docs.oracle.com/cd/A60725_05/html/comnls/us/ap/autoff01.htm
NEW QUESTION 36
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 37
The payment build program has completed but with errors.
When submitting the payment process request, which processing option is used to review the error messages from the Manage Payment Process Request Inquiry?
- A. Set the validation failure handling for payments to "stop process for review."
- B. Enable debug for the payment format program.
- C. Set the validation failure handling for documents to "show errors."
- D. Set the validation failure handling for payments to "show errors."
Answer: A
NEW QUESTION 38
When reviewing installments, what setup is required to override the supplier site on an invoice?
- A. Allow the remit-to supplier address override for third-party payments at Manage Invoice options.
- B. Allow payee to override for third-party payments while Manage Invoice options.
- C. Allow the remit-to supplier override for third-party payments at Manage Payment options.
- D. Allow the remit-to supplier override for third-party payments at Manage Invoice options.
Answer: A
Explanation:
Explanation
(Optional) Setting the Remit-to Supplier Override Option
References:https://docs.oracle.com/cloud/farel9/financialscs_gs/FAIPP/F1470346AN14ECB.htm
NEW QUESTION 39
Select three reasons why you cannot close your Payables period. (Choose three.)
- A. open intercompany transactions
- B. unapplied prepayments
- C. suppliers on payment holds
- D. bills payable requiring maturity
- E. unaccounted invoices and payments
Answer: A,D,E
Explanation:
Explanation
The types of exceptions reported are:
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9DE8D32BDBE0FBADE040D30A688146
NEW QUESTION 40
A Payment Process Request was submitted and errors were found in the payment file. The payment file and process were terminated.
Which two statements are true? (Choose two.)
- A. The status of the payment file is Cancelled.
- B. The status of each payment in the payment file is Terminated.
- C. The status of each payment in the payment file is Cancelled and the related documents are available for future selection.
- D. The invoices are placed on payment hold.
- E. The status of the payment file is Terminated.
Answer: C,E
Explanation:
Explanation
If the payment file has been terminated and the documents payable have been returned to the source product, then the status of the Printed Payment File is Terminated.
Oracle Fusion Paymentsinforms the source product of the terminated documents payable. Then for each payment in the payment file, Payments sets the status to Canceled.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011879AN17393.htm
NEW QUESTION 41
You need to submit a 1099 report; your State format has changed slightly since last year. How should you submit your 1099s for the State in the current year?
- A. Generate a 1096 form and submit it instead.
- B. Run and submit your 1099s because it will automatically reflect any changes.
- C. Manually enter the 1099s for the State and submit.
- D. Edit the 1099 template to reflect the changes, and then run and submit the 1099 report.
Answer: D
NEW QUESTION 42
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 43
Which two statements are true about processing corporate card expenses? (Choose two.)
- A. Conversion rate defaults apply only to cash expenses, not to corporate card expenses.
- B. You can process payment for credit card using Electronic funds transfer, check, or wire.
- C. Usage policy for expense category tolerances does not apply to credit card expenses.
- D. Card transactions will be paid directly from Expenses Cloud.
- E. Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses.
Answer: A,C
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 44
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