Free Oracle 1Z0-1055-21 Study Guides Exam Questions and Answer
1Z0-1055-21 Exam Dumps, 1Z0-1055-21 Practice Test Questions
Oracle 1Z0-1055-21 Exam Syllabus Topics:
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NEW QUESTION 31
Your company policy requires imaged receipts for expense reports.
Which two statements are true about the association of a receipt to an expense report? (Choose two.)
- A. Employees are not reimbursed for expense report expenditures until missing or overdue imaged receipts are submitted.
- B. Receipts are not required if the expense item falls within Per Diem Rates.
- C. An expense report may require original, imaged, or both types of receipts.
- D. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.
Answer: C,D
NEW QUESTION 32
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. The workflow will fail once approval is initiated.
- B. Invoice will be sent to User 1 for approval.
- C. Invoice will be auto-approved.
- D. The initiate option is greyed out for the invoice.
Answer: A
NEW QUESTION 33
In what order should the import process be run when importing suppliers?
- A. Supplier, Supplier Site Assignment, Supplier Site, Supplier Contacts
- B. any order
- C. Supplier, Supplier Address, Supplier Site, Supplier Site Assignments
- D. Supplier, Supplier Site Contacts, Supplier Site, Supplier Site Assignment
Answer: C
Explanation:
Explanation
The following programs are used to import supplier information:
When importing supplier records containing data in each table, then Suppliers must be run first, followed by the Supplier Sites import process. Once the data is inserted, the following concurrent processes must be run to create the information in Oracle Fusion Suppliers.
Suppliers Import Process
Supplier Sites Import Process
Supplier Site Contacts Import Process
Supplier Site Assignments Process
References:https://docs.oracle.com/cd/E56614_01/procurementop_gs/OAPRC/F1007476AN1079E.htm
NEW QUESTION 34
You want your expense auditors to audit only expense reports for specific business units. How do you do this?
- A. Create a custom duty role and assign the data roles to each auditor.
- B. Create your own audit extension rules that correspond to the business unit.
- C. Make auditors the managers of the corresponding business unit to route expense reports properly.
- D. Assign the expense auditors job role and business unit security context and value to the user.
Answer: D
NEW QUESTION 35
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 role to each auditor and use a data access set to associate the business unit to the role.
- B. Assign the Expense Auditor job role to each auditor and use segment value security rules to secure access to the business units.
- C. Assign the Expense Auditor as the owner of each business unit on the Manage Business Unit Set Assignments page.
- D. Assign the Expense Auditor job role to each auditor and associate the business unit to the role by using the Manage Data Access for Users page.
Answer: D
NEW QUESTION 36
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 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
- B. 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 - C. 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
- D. On Jan 10th, Debit Prepaid Expense for 12,000 and Credit Liability 12,000
Answer: B
NEW QUESTION 37
Which three are invoice types that can be entered using the Supplier Portal? (Choose three.)
- A. Invoices that are automatically created when the supplier creates an ASN for drop shipments
- B. B2B XML invoices
- C. Invoices that are created from the Evaluated Receipt Settlement (ERS) process
- D. Purchase order matched invoices
- E. Non purchase order matched invoices
Answer: B,C,D
NEW QUESTION 38
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. Manually override the payment terms that have defaulted from the purchase order for those suppliers.
- 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 site level so they default onto the invoice.
- D. Enter the payment terms at the Supplier level so they default onto the invoice.
- E. Enter the payment terms in the Manage Invoice Options page so they default onto the invoice.
Answer: A
NEW QUESTION 39
During an expense audit the auditor marks an expense item that is missing a receipt to be Short Paid. They choose to complete the audit and warn the user.
Given that the Expense Report Audit Approval is set to After Manager Approval, what two are valid results of the auditor action? (Choose two.)
- A. New expense report containing disallowed expense items is not created until manager approves the short payment.
- B. New expense report containing disallowed expense items is immediately created.
- C. Approved part of the expense report is not eligible for expense reimbursement.
- D. The approved part of the expense report is eligible for expense reimbursement.
Answer: B,C
Explanation:
Explanation
New expense report containing disallowed expense items is immediately created.
Expense report isn't eligible for expense reimbursement.
NEW QUESTION 40
Which three attributes are captured during the scanning of invoice images?
- A. PO Number
- B. Terms Date
- C. Invoice Date
- D. Payment Method
- E. Invoice Number
Answer: A,C,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 41
What happens if a company runs the Payables Unaccounted Transactions Sweep program for February 2018 if the invoices with a Hold status have an invoice date of January 20, 2018?
- A. The accounting dates of all unaccounted invoices will remain unchanged at January 20, 2018.
- B. The accounting dates of all unaccounted invoices will be changed to February 20,2018, the same day of the next period.
- C. The accounting dates of all unaccounted invoices will be changed to February 1, 2018, the first day of the next period.
- D. The accounting dates of all unaccounted invoices will change to February 28, 2018, the last day of the next period.
Answer: C
Explanation:
Explanation
Run the Payables Unaccounted Transactions Sweep program to transfer unaccounted transactions from one accounting period to another. If your accounting practices permit it, use this program to change the accounting date of the transactions to the next open period.
The program transfers unaccounted transactions to the period you specify by updating the accounting dates to the first day of the new period.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011880AN1B948.htm
NEW QUESTION 42
You are testing the Payables to General Ledger Reconciliation report at the ledger level for your UK Ledger, you have run and selected the extract for the report but the request returned the message no data to display.
What is the reason for this?
- A. You did not specify the range of liability accounts to include in the extract.
- B. The financial category of Accounts Payable is not assigned to the liability accounts.
- C. You did not select the business units associated to the UK Ledger.
- D. The reconciliation flag has not been enabled for your liability accounts.
Answer: B
NEW QUESTION 43
Which three types of payments can you make if you have access to Disbursement Process Management Duty?
(Choose three.)
- A. Supplier payments
- B. Reimbursement of employee expense reports
- C. Employee advances
- D. Customer refunds
- E. Ad hoc payments
Answer: C,D,E
NEW QUESTION 44
You have a high volume of invoices to enter that have similar lines and do not require extensive validation.
What must you do if you want to group multiple invoices in a batch during spreadsheet entry?
- A. Enter a value in the Invoice Group field to group similar invoices into a batch.
- B. Enable the invoice option Require Invoice Grouping, and the system automatically groups invoices entered in the same spreadsheet.
- C. Assign the same Invoice Header Identifier to multiple invoices you want to group.
- D. Make sure the Invoice Number is the same.
- E. Make sure all the invoice dates are the same.
Answer: B
Explanation:
Explanation
What's an invoice group?
A collection of invoices that is used as a parameter for the Validate Payables Invoice process, a selection criteria for submitting a payment process request, and a parameter in some reports. If you enable the invoice option Require invoice grouping, you must associate each invoice with an invoice group.
References:https://docs.oracle.com/cloud/farel9/financialscs_gs/FAPPP/F1011878AN100C4.htm
NEW QUESTION 45
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 a payment by using a wire payment method for those suppliers.
- C. Create payments by using the Check Payment method for those suppliers and then destroy those checks.
- D. Create payments by using a clearing payment method for thosesuppliers because this payment method does not generate a file.
Answer: B
Explanation:
Explanation
When you create a payment outside of Payables, for example, using a typed check or wire transfer, within Payables you can record the payment and update the invoices that you paid.
NEW QUESTION 46
What two job roles are required to access information within Functional Setup Manager? (Choose two.)
- A. Application Implementation Consultant
- B. IT Security Manager
- C. Application Implementation Manager
- D. Functional Setup Manager Superuser
- E. Any Functional User
Answer: A,C
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 47
Your company wants to generate intercompany transactions in USD but only if the amount involved is $3,000 USD or more. Which two intercompany system options are valid?
- A. Approval rules need to set the allow of the intercompany transactions to be routed to the receiver or provider.
- B. You cannot update the minimum transaction currency when intercompany currency is entered.
- C. Set the intercompany system option minimum transaction amount to $2,999.99 USD.
- D. Intercompany invoices will be generated for the minimum accountable amount set at the payable invoice options and receivable system options.
- E. Set the intercompany system option minimum transaction amount to $ 3,000 USD.
Answer: D,E
Explanation:
Explanation
Define intercompany system options to set up intercompany processing rules at the enterprise level, based on your specific business needs.
Minimum Transaction Amount
The minimum transaction amount represents a minimum threshold intercompany transaction amount, and prevents the submission of immaterial transactions for small amounts, which are non-value added. In order to implement this rule, you must select a minimum transaction currency for processing intercompany transactions. These two system options must be related to ensure that when comparing a transaction amount to the minimum transaction amount, the two numbers are entered in the same currency, allowing for an accurate comparison.
References:https://docs.oracle.com/cd/E48434_01/fusionapps.1118/e49599/F1110451AN99BEF.htm
NEW QUESTION 48
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 not selected because the discount dates are before the Pay Through Date.
- B. The installment is not selected because the due date is after the Pay Through Date.
- C. The installment is selected and no discount is applied.
- D. The installment is selected and a discount of $150 USD is applied.
- E. The installment is selected and a discount of $50 USD is applied.
Answer: B
Explanation:
Explanation
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm#FAPPP1011879
NEW QUESTION 49
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