[2021] Pass Oracle 1Z0-1055-21 Test Practice Test Questions Exam Dumps
Verified 1Z0-1055-21 dumps Q&As - 1Z0-1055-21 dumps with Correct Answers
NEW QUESTION 61
Which two are classified as Self-Billed invoices? (Choose two.)
- A. Invoices entered through the Supplier Portal
- B. Evaluated Receipt Settlement (ERS) Invoices
- C. Debit Memos created by the Return to Supplier feature
- D. Expense Reports transferred from Expenses
- E. Customer Refunds initiated from Receivables
- F. Invoices created using Integrated Imaging
Answer: A,B
Explanation:
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 62
You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?
- A. Enter the invoice via a spreadsheet. Then, from the Manage Invoices page, query the invoice, validate it, create accounting, and then open general ledger's Manage Journals page and post the associated invoice journal entry.
- B. Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.
- C. Enter and post a manual journal entry directly into the general ledger.
- D. Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.
Answer: A
NEW QUESTION 63
What is the result of voiding a payment?
- A. The payment is reconciled to the bank statement.
- B. A stop payment request has been initiated to the bank.
- C. The payment is no longer valid.
- D. A bills payable payment was created but is not yet matured.
Answer: C
NEW QUESTION 64
When working with reference data sets in Payables, what reference data sharing method can you use for Payables Payment Terms?
- A. Assignment to multiple sets with common values allowed
- B. Assignment to one set only; no common values allowed
- C. Assignment to multiple sets; no common values allowed
- D. Assignment to one set only with common values
Answer: C
Explanation:
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 65
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 66
An invoice for $200 USD and a credit memo for $225 USD are due for payment and the "Apply credits up to zero amount" option is enabled for the payment process request. Which statement is correct?
- A. The payment process request creates a refund for $225 USD and leaves the invoice unpaid.
- B. The payment process request pays only $200 USD alone.
- C. The payment process request doesn't select the invoice or credit memo for payment because the credit reduces the payment to - $25 USD, which is below zero.
- D. The payment process request applies $200 USD of the credit memo to the invoice, leaving a remaining credit of $25 USD, and creates a payment for $0 USD.
Answer: D
Explanation:
Explanation
When you submit a "payment process request", you can enable the Apply credits up to zero amount payment option. Enablingthe 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 memofor 225 USD are due for payment.
The following table describes 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 67
Which data is visible to a Payables user in the Payables to General Ledger Reconciliation report?
- A. Data for authorized business units only; no GL data is visible
- B. Data for all business units and all balancing segments in the ledger
- C. Data for authorized business units and GL data for all balancing segments in the ledger (unless restricted)
- D. Data for all business units and one balancing segment in the ledger
Answer: D
Explanation:
Explanation
Payables users can also see general ledger data for all balancing segment values in the ledger.
NEW QUESTION 68
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 69
A company has a requirement to default the disbursement bank account when submitting a Payment Process Request.
Which actions will accomplish this? (Choose two.)
- A. Assign the Disbursement Bank Account to users to have the payment process default the bank account.
- B. Define the Disbursement Bank Account to the Payment Method in payment default rules.
- C. Define the Disbursement Bank Account to every supplier.
- D. Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account.
- E. Create a Payment Process Request template that includes the Disbursement Bank Account.
Answer: A,E
Explanation:
Explanation
D: You can assign thedisbursement bank account and the payment process profile to all documents payable in the payment process request during the Submit Payment Process Request process. If you use a payment process request template, a disbursement bank account and a payment process profile default from the template.
DE:The following options affect payment processing:
References:https://docs.oracle.com/cd/E37017_01/doc.1115/e22897/F438410AN16238.htm
NEW QUESTION 70
Which two invoice types can have a status of Incomplete? (Choose two.)
- A. Supplier Portal Invoices which are rejected and resubmitted for approval
- B. Scanned Invoices with incomplete or missing information
- C. Supplier Portal Invoices which are saved but not yet submitted
- D. Scanned Invoices which are rejected during import
- E. Prepayment Invoices which are fully paid but not applied against any invoice
Answer: A,B
Explanation:
Explanation
As a Supplier user, you can now edit and resubmit invoices that are rejected from the approval users during the invoice request approval process.
An incomplete invoice is an invoice created from an image that has invalid or missing information.
NEW QUESTION 71
A company has a requirement to default the disbursement bank account when submitting a Payment Process Request.
Which two actions will accomplish this? (Choose two.)
- A. Assign the Disbursement Bank Account to users to have the payment process default the bank account.
- B. Define the Disbursement Bank Account to the Payment Method in payment default rules.
- C. Create a Payment Process Request template that includes the Disbursement Bank Account.
- D. Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account.
- E. Define the Disbursement Bank Account in the Payment tab at the supplier site level.
Answer: C,D
NEW QUESTION 72
You have modified your tax setup and want to test the changes on actual Payables transactions. How do you validate before enabling for transaction?
- A. by creating a payable invoice, and by validating and reviewing the tax application
- B. by changing the tax status to test and then entering a payables invoice
- C. by using Tax Simulator to test
- D. by creating accounting in draft mode
- E. Oracle Transactional Business Intelligence (OTBI)
Answer: C
Explanation:
Explanation
Run taxes from all applicable tax regimes against a sample transaction to verify that your tax configuration and tax rules were created and applied according to yourrequirements. You can either create a sample transaction within Tax Simulator or copy an existing transaction. The simulated tax calculations do not affect live data.
Note:The Tax Simulator is a tool for simulating the tax determination process in your tax setup. The Tax Simulator lets you preview the workings of your tax configuration before you perform tax calculations on live transactions in a subledger application. TheTax Simulator also allows you to test new tax configuration in conjunction with existing tax configuration to preview the resulting tax calculation. The Tax Simulator is a useful tool to identify the root cause when tax calculation is not what is expectedon live data.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAFTT/F1006654AN226D8.htm
NEW QUESTION 73
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 when to initiate the payment approval process.
- B. It determines which payments must go through the payment approval process.
- C. It allows approvers to review payments and decide whether or not to approve a payment.
- D. It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.
- E. It defines a list of approvers who review payments and make final payment decisions.
Answer: A,D,E
NEW QUESTION 74
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 invoices need revalidation.
- B. The pay-through date is in a future period.
- C. The pay-through date is in a closed Payables period.
- D. The installment was manually removed.
- E. The invoice has not been accounted.
Answer: A,C
Explanation:
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 75
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 76
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 77
......
Oracle 1Z0-1055-21 Exam Syllabus Topics:
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
| Topic 5 |
|
| Topic 6 |
|
| Topic 7 |
|
| Topic 8 |
|
1Z0-1055-21 certification guide Q&A from Training Expert Dumpexams: https://www.dumpexams.com/1Z0-1055-21-real-answers.html