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Download Oracle : 1Z0-1055-23 Questions & Answers as PDF & Test Software

Last Updated: Oct 01, 2026

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Oracle 1Z0-1055-23 Exam Syllabus Topics:

SectionWeightObjectives
Payments and Disbursements25%- Payment Processing
  • 1. Manage payment batches and bank accounts
    • 2. Create, approve, and issue payments
      - Reconciliation and Accounting
      • 1. Reconcile payables to general ledger
        • 2. Account for payments, discounts, and foreign currency transactions
          Reporting, Integration, and Maintenance20%- Reporting and Analytics
          • 1. Use Business Intelligence and reporting tools
            • 2. Run standard payables reports and create custom reports
              - Integration and Maintenance
              • 1. Integrate with other Oracle Cloud modules
                • 2. Perform period-end close and maintenance activities
                  Payables Configuration and Setup30%- Configure Payables System Options
                  • 1. Define tax configurations and withholding tax rules
                    • 2. Set up payment terms, payment methods, and payment formats
                      - Configure Enterprise Structures
                      • 1. Set up business units, legal entities, and ledgers
                        • 2. Define supplier master data and supplier sites
                          Invoice Processing and Management25%- Prepayments and Expense Invoices
                          • 1. Apply and account for prepayments
                            • 2. Process employee expense reports and invoices
                              - Invoice Entry and Validation
                              • 1. Validate invoices, resolve holds, and perform matching
                                • 2. Enter standard invoices, credit memos, and debit memos

                                  Oracle Financials Cloud: Payables 2023 Implementation Professional Sample Questions:

                                  Question #1

                                  A Payables user creates a manual invoice and a Withholding Tax Classification Code defaults on the invoice line when the invoice is saved.
                                  Where does this Withholding Tax Classification Code default from?

                                  • A. From the Income Tax region of the Supplier
                                  • B. From the Party Tax Profile of the Third Party Site
                                  • C. From the Site Assignments of the Supplier Site
                                  • D. From the Manage Tax Reporting and Withholding Tax Options
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  🗳️

                                  Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).

                                  Question #2

                                  Which three are Invoice Header attributes that can be used during invoice approval rule creation? (Choose three.)

                                  • A. Business Unit Name
                                  • B. Accounting Date
                                  • C. Pay Group Lookup Code
                                  • D. Requester Name
                                  • E. Statistical Amount
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A,C,D  🗳️

                                  Question #3

                                  A company has a requirement to pay small suppliers outside of Payables, but it does not want to manually record each payment.
                                  Which solution should you implement?

                                  • A. Create payments by using Electronic Funds Transfer (EFT) for those suppliers but do not send the electronic file to the bank.
                                  • B. Create payments by using a clearing payment method for thosesuppliers because this payment method does not generate a file.
                                  • C. Create payments by using the Check Payment method for those suppliers and then destroy those checks.
                                  • D. Create a payment by using a wire payment method for those suppliers.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

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                                  Question #4

                                  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. Description Rule
                                  • B. Mapping Set
                                  • C. Event Class Settings
                                  • D. Supporting References
                                  • E. Transaction References
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

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                                  Question #5

                                  You are using the Payable's Deferred Expense feature (also known as Multiperiod Accounting). You have entered an invoice for a three-month lease that is entered on Jan 10th. The total expense is $12,000 and it covers the rental period from Jan 1st to Mar 31st.
                                  Assuming that the rental expenses are split evenly per month and a monthly accounting calendar is used, what would the accounting entry be?

                                  • A. On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000
                                  • B. On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Jan 10th, Debit Rental Expense for 12,000 and Credit Cash for 12,000
                                  • C. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000 and thenOn Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000
                                  • D. On Jan 10th, Debit Prepaid Expense for 12,000 and Credit Liability 12,000
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  🗳️

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