Pass Oracle 1Z0-1055-21 exam questions - convert Test Engine to PDF
Pass Your 1Z0-1055-21 Exam Easily - Real 1Z0-1055-21 Practice Dump Updated Feb 25, 2022
Oracle 1Z0-1055-21 Exam Syllabus Topics:
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NEW QUESTION 47
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. Create a Payment Process Request template that includes the Disbursement 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. Assign the Disbursement Bank Account to users to have the payment process default the bank account.
- E. Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account.
Answer: A,D
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 48
Which method can you use to route payment approval rules?
- A. Both Parallel and Sequential
- B. Sequential
- C. Parallel
- D. Serial and FYI (For Your Information)
- E. Approval Groups
Answer: B
NEW QUESTION 49
Which attributes on the payables invoice can be used during approval rule creation?
- A. cost center segment and supplier only
- B. supplier only
- C. company and cost center segment only
- D. company segment, cost center segment, supplier, and Attribute 1 on the invoice line
Answer: D
NEW QUESTION 50
Which three types of payments can you make if you have access to Disbursement Process Management Duty?
(Choose three.)
- A. Customer refunds
- B. Employee advances
- C. Ad hoc payments
- D. Reimbursement of employee expense reports
- E. Supplier payments
Answer: A,B,C
NEW QUESTION 51
Which three are supported image formats for the Integrated Imaging solution? (Choose three.)
- A. JPEG
- B. PNG
- C. TIFF
- D. RTF
- E. XLS
Answer: A,B,C
NEW QUESTION 52
You purchased a computer from Company A for 2000 USD. Company B ships you the computer with freight charges of 100 USD. You would like the cost of the computer to include those freight charges.
How can you achieve this?
- A. Enter the Invoice manually and add the freight line.
- B. Choose to Match to Receipt Charges.
- C. Choose to Match in full to the Purchase Order.
- D. Choose to Match to Invoice Lines.
- E. Choose Match to Receipt.
Answer: B
NEW QUESTION 53
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. Oracle Transactional Business Intelligence (OTBI)
- B. by creating accounting in draft mode
- C. by changing the tax status to test and then entering a payables invoice
- D. by creating a payable invoice, and by validating and reviewing the tax application
- E. by using Tax Simulator to test
Answer: E
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 54
Your customer has an electronic payment format program in use and wants all the documents to use the pay group "Domestic". What should you do to achieve this?
- A. Define a user validation at the formatprogram to include: Field "Document pay group", condition
"Equal to String", value "Domestic", and Field "Format Program Code", condition "Equal to String" and value - as desired. - B. Modify your template to hard code the value "Domestic" for the pay group position.
- C. Define a user validation at the format program to include: Field "Document pay group", condition
"Equal to String", and value "Domestic". - D. Define a user validation at the format program to include: Field "Document pay group", condition
"Equal to String", value "Domestic", and Field "Document pay group", condition "Required" and value
- not applicable.
Answer: C
Explanation:
Explanation
User-Defined Validation That Checks a Specific Condition and Value
References:https://docs.oracle.com/cloud/farel9/financialscs_gs/FAIPP/F1469799AN17B6B.htm
NEW QUESTION 55
Which three are Invoice Header attributes that can be used during invoice approval rule creation? (Choose three.)
- A. Pay Group Lookup Code
- B. Statistical Amount
- C. Accounting Date
- D. Requester Name
- E. Business Unit Name
Answer: A,C,E
NEW QUESTION 56
A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?
- A. Manage common options for Payables and Procurement and Manage Procurement agents
- B. Manage Payment Options and Manage common options for Payables and Procurement
- C. Manage Invoice Options and Manage Procurement agents
- D. Manage Invoice Options and Manage common options for Payables and Procurement
- E. Manage Payable Options and Manage Invoice Options
Answer: E
Explanation:
Explanation
You can change the conversion rate type at invoice entry or payment creation time.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAIPP/FAIPP1470345.htm
NEW QUESTION 57
A Bill Payable document was paid but has not yet matured.
What is the status of the payment?
- A. Cleared
- B. Issued
- C. Negotiable
- D. In Transit
Answer: B
NEW QUESTION 58
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 "show errors."
- B. Set the validation failure handling for payments to "stop process for review."
- C. Enable debug for the payment format program.
- D. Set the validation failure handling for documents to "show errors."
Answer: B
NEW QUESTION 59
You entered an invoice of 12,000 and paid it for Office Suppliers. The payment was never received by the supplier, and you decide to return the entire order. What should you do?
- A. Cancel the invoice, which debits the liability and credits the expense.
- B. Issue a credit memo, which will debit the liability and credit the expense.
- C. Void the payment, which debits cash and credits the liability, and then cancel the invoice, which debits the liability and credits the expense.
- D. Void the payment, which debits cash and credits the liability, and then issue a credit memo, which debits the liability and credits the expense.
Answer: C
NEW QUESTION 60
Which job role has full access to perform all Functional Setup Manager related activities?
- A. Application Implementation Consultant
- B. Functional Setup Manager Superuser
- C. IT Security Manager
- D. Application System Administrator
- E. Any Functional User
Answer: A
NEW QUESTION 61
Identify three scenarios where you are not allowed to cancel an invoice. (Choose three.)
- A. An accounting entry has been created for the invoice.
- B. The invoice is validated.
- C. The invoice is fully or partially paid.
- D. Prepayments were applied to the invoice.
- E. The invoice was adjusted by a credit or a debit memo.
Answer: C,D,E
Explanation:
Explanation
Why can't I cancel an invoice?
The invoice is:
Additional reasons thatyou can't cancel an invoice are as follows:
You can cancel any unapproved invoice, or an approved invoice that does not have anyeffective payments or posting holds.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011878.htm#FAPPP1011878
NEW QUESTION 62
Which two are classified as Self-Billed invoices? (Choose two.)
- A. Evaluated Receipt Settlement (ERS) Invoices
- B. Invoices entered through the Supplier Portal
- C. Invoices created using Integrated Imaging
- D. Customer Refunds initiated from Receivables
- E. Debit Memos created by the Return to Supplier feature
- F. Expense Reports transferred from Expenses
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 63
Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?
- A. Define a Tax Status and Rate for Exempt, define a Supplier Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification.
- B. Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab.
- C. Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers.
- D. Define a Tax Status and Rate for Exempt, define a Party Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Party Fiscal Classification.
Answer: A
NEW QUESTION 64
XYZ Supplier has third party relationships defined with ABC Supplier and ACME Corporation. However, when reviewing the invoice installments for XYZ Supplier the payables specialist is unable to override the remit-to supplier name and address on the Invoice installments.
What is the reason for this?
- A. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Common Options for Payables and Procurement page for the business unit.
- B. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Invoice Options page for the business unit.
- C. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Disbursement System Options page for the business unit.
- D. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Payment Options page for the business unit.
Answer: B
NEW QUESTION 65
You have 10 ledgers and 30 business units and want to leverage Preference Data Sets. What is the function of Reference Data Sets?
- A. allow you to share reference data, such as payment terms, across multiple business units to avoid redundant setup
- B. allow you to secure data by business unit
- C. allow you to maintain sets of related data in a Data Dictionary
- D. allow you to assign multiple business units to users in a shared service center
Answer: A
Explanation:
Explanation
Reference Data Sets
You begin this part of your implementation by creating and assigning reference data to sets. Make changes carefully as changes to a particular set affect all business units or application components using that set. You can assign a separate set to each business unit for the typeofobject that is being shared. For example, assign separate sets for payment terms, transaction types, and sales methods to your business units.
Your enterprise can determine that certain aspects of your corporate policy can affect all business units. The remaining aspects are at the discretion of the business unit manager to implement. This allows your enterprise to balance autonomy and control for each business unit. For example, your enterprise holds business unit managers accountable for their profitand loss, but manages working capital requirements at a corporate level.
In such a case, you can let managers define their own sales methods, but define payment terms centrally. In this example:
Each business unit has its own reference data set for salesmethods.
One central reference data set for payment terms is assigned to all business units.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAIGL/FAIGL1493157.htm#FAIGL94314
NEW QUESTION 66
What are the output formats supported for Electronic and Check format programs?
- A. Electronic output format of XML, Check output format of rtf
- B. Electronic output format of PDF, Check output format of PDF
- C. Electronic output format of Text, Check output format of Text
- D. Electronic output format of eText, Check output format of rtf
- E. Electronic output format of DATA (csv), Check output format of Zipped PDFs
Answer: D
Explanation:
Explanation
The eText template is used specifically for electronic data interchange (EDI) and electronic funds transfer(EFT).
References: https://docs.oracle.com/cd/E56614_01/common_op/OAEXT/F1203011AN1CABC.htm
NEW QUESTION 67
Which component is not included in the security architecture for credit card data and bank account data encryption?
- A. Oracle Wallet
- B. Payments subkeys
- C. Sensitive data encryption and storage
- D. Payments master encryption key
- E. Supplier master encryption key
Answer: E
NEW QUESTION 68
When submitting the Payables to General Ledger Reconciliation report, the extract did not select any data.
What should you check?
- A. Make sure you assigned a Financial Category of Accounts Payable to all your liability natural account values.
- B. Make sure you specified a Business Unit in the parameters when running the extract.
- C. Make sure you enabled the Reconciliation flag to all of your liability natural account values.
- D. Make sure you assign an Account parameter when running the extract to include liability accounts.
Answer: A
Explanation:
Explanation
You must assign a Financial Category of Accounts payable to all your liability natural account values. This is a required setup step for Payables to General Ledger reconciliation.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011880AN1B948.htmc
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
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. Intercompany invoices will be generated for the minimum accountable amount set at the payable invoice options and receivable system options.
- B. You cannot update the minimum transaction currency when intercompany currency is entered.
- C. Approval rules need to set the allow of the intercompany transactions to be routed to the receiver or provider.
- D. Set the intercompany system option minimum transaction amount to $2,999.99 USD.
- E. Set the intercompany system option minimum transaction amount to $ 3,000 USD.
Answer: A,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 71
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