[Feb-2022] Dumps Practice Exam Questions Study Guide for the 1Z0-1055-21 Exam
1Z0-1055-21 Dumps with Practice Exam Questions Answers
Oracle 1Z0-1055-21 Exam Syllabus Topics:
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NEW QUESTION 64
You have successfully processed the expense reports for reimbursement and have transferred the information to Payables. What is the next step before you can pay them?
- A. Create a payment process request in Payments.
- B. Create Accounting for the invoice in Payables.
- C. Validate the invoice in Payables.
- D. Transfer the data to General Ledger.
Answer: C
Explanation:
Explanation
Oracle Fusion Expenses provides reimbursement functionality that ensures corporate card issuers and employees are reimbursed for business expenses. Expenses uses Oracle Fusion Payables to process expense reports for reimbursement. To reimburse card issuers and employees, the expense auditor runs the Process Expense Reimbursement process and the corporate card administrator runs the process, Create Corporate Card Issuer Payment Requests. After payment requests are created in Payables, corporate card issuers and employees are paid by Oracle Fusion Payments.
Thisfigure shows the flow of data when the expense auditor runs the Process Expense Reimbursement program.
NEW QUESTION 65
After you submitted a Payment Process Request, you noticed errors. You want to void the payments. Identify two statements that indicate when it is not possible to void a payment. (Choose two.)
- A. A payment with the status of Issued.
- B. A payment that has been accounted and posted to General Ledger.
- C. A payment for an invoice with an associated Withholding Tax invoice.
- D. A payment that has already cleared the bank.
- E. A payment that pays a prepayment that has been applied to an invoice.
Answer: D,E
Explanation:
Explanation
A: You can't: Void a payment for aprepayment that's applied. You must first unapply the prepayment, then void the payment.
D: If the payment is cleared in cash management then it has to be uncleared first before you can void the payment.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm
NEW QUESTION 66
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 original Source
- B. The Output types
- C. The Data Model
- D. The Style-Template
- E. The layout-template
Answer: D,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 67
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 a start date and 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 the accrual account for the prepaid expenses in the invoice lines or distributions.
Answer: D
NEW QUESTION 68
You want to customize the Payables Invoice Register template to only display invoices when the Supplier name is Company A.
Supplier name is a group that repeats on every page.
Which is the correct way to customize the template?
- A. Insert the syntax <?if:'COMPANY A'?> before the Supplier field and then enter the closing tag
</<?if:COMPANY A?> after the invoices table. - B. Insert the syntax <?if:VENDOR_NAME= 'COMPANY A'?> before the Supplier field on the template.
Then, enter the <?end if?> tag after the invoices table. - C. Insert the syntax <?if:condition?> before the Supplier field and then enter the closing tag
</<?if:condition?>. - D. Hard code Supplier Name "Company A" in the report template and only invoices for that supplier will be displayed.
Answer: D
Explanation:
Explanation
Use an if statement to define asimple condition; for example, if a data field is a specific value.
Insert the following syntax to designate the beginning of the conditional area.
<?if:condition?>
Insert the following syntax at the end of the conditional area: <?end if?>.
References:https://isu.ifmo.ru/docs/XMLP/help/en_US/htmfiles/B25951_01/T421739T421743.htm
NEW QUESTION 69
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 and post a manual journal entry directly into the general ledger.
- B. Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.
- C. Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.
- D. 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.
Answer: D
NEW QUESTION 70
Which two statements are true related to configuration package? (Choose two.)
- A. You can export and import selected business units.
- B. You can export and import the approval rules from the approval management engine.
- C. You can export and import the custom roles from Oracle Identity Manager.
- D. You can export and import the allocation rules from the allocation manager.
- E. You can export and import selected business object services.
Answer: C,E
NEW QUESTION 71
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 selected and a discount of $50 USD is applied.
- B. The installment is not selected because the due date is after the Pay Through Date.
- C. The installment is selected and a discount of $150 USD is applied.
- D. The installment is not selected because the discount dates are before the Pay Through Date.
- E. The installment is selected and no discount is applied.
Answer: B
Explanation:
Explanation
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm#FAPPP1011879
NEW QUESTION 72
The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct? (Choose three.)
- A. All related interest invoices are reversed if previously created.
- B. Any realized gain or loss previously calculated is reversed.
- C. Any previous accounting and payment records for an invoice are reversed.
- D. All related withholding tax invoices are automatically voided.
- E. Voiding the payment automatically places an invoice on hold.
Answer: A,B,C
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 73
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 in the Manage Payment Options page so they default onto the invoice.
- C. Enter the payment terms at the Supplier level 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 74
You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?
- A. Imported
- B. Needs Revalidation
- C. Validated
- D. Not Required
- E. Not Validated
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 75
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: A
Explanation:
Explanation
Company Pay: Your company pays the corporate card issuer for all transactions.
NEW QUESTION 76
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. Invoice will not be processed.
- D. The system will issue an error message after the approval has been initiated.
Answer: C
NEW QUESTION 77
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 accounting in draft mode
- B. by changing the tax status to test and then entering a payables invoice
- C. Oracle Transactional Business Intelligence (OTBI)
- D. by using Tax Simulator to test
- E. by creating a payable invoice, and by validating and reviewing the tax application
Answer: D
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 78
What two job roles are required to access information within Functional Setup Manager? (Choose two.)
- A. Application Implementation Manager
- B. Any Functional User
- C. Functional Setup Manager Superuser
- D. Application Implementation Consultant
- E. IT Security Manager
Answer: A,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 79
Select three reasons why you cannot close your Payables period. (Choose three.)
- A. bills payable requiring maturity
- B. unapplied prepayments
- C. unaccounted invoices and payments
- D. suppliers on payment holds
- E. open intercompany transactions
Answer: A,C,E
Explanation:
Explanation
The types of exceptions reported are:
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9DE8D32BDBE0FBADE040D30A688146
NEW QUESTION 80
What data can you find in an Oracle Transactional Business Intelligence subject area attribute column?
- A. data that provides a measure of something
- B. values that are organized into parent-child relationships
- C. information about a business object with values that are dates, Ids or text
- D. data that is metric and can be added up or aggregated
Answer: C
NEW QUESTION 81
Which three are attributes that are recognized by Invoice Imaging? (Choose three.)
- A. Terms Date
- B. Invoice Date
- C. Invoice Number
- D. PO Number
- E. Payment Method
Answer: B,C,D
NEW QUESTION 82
You have enabled Payment Approval for your payment process requests (PPR).
At what stage of the PPR is the payment approval process automatically triggered?
- A. Review Proposed Payments
- B. Review Installments
- C. Build Payments
- D. Create Payment Files
Answer: D
NEW QUESTION 83
Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?
- A. Payables to Ledger Reconciliation report
- B. Payables Aging reports with the General Ledger Trial Balance report
- C. General Ledger Financial Statements and the Accounts Payable and Invoice Registers
- D. Payables Trial Balance and General Ledger Trial Balance reports
Answer: D
Explanation:
Explanation
Payables Trial Balance Report lists and subtotals by supplier and liability account all unpaid and partially paid invoices thatPayables transferred to the general ledger. Accounts Payable Trial Balance Report helps to verify that total accounts payable liabilities in Payables equal to those in the Fusion General Ledger.
References:
http://apps2fusion.com/oracle-fusion-online-training/fusion-applications/oracle-fusion-financials/fusion-financia rate-trial-balance-report
NEW QUESTION 84
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. Transaction References
- C. Event Class Settings
- D. Mapping Set
- E. Supporting References
Answer: A
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 85
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