[2021] New 1Z0-1055-21 exam dumps Use Updated Oracle Exam
Verified 1Z0-1055-21 Dumps Q&As - 1Z0-1055-21 Test Engine with Correct Answers
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NEW QUESTION 79
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 80
During your business trip to the UK, you took a taxi ride and paid for it by using your personal Visa credit card. While entering your expenses, you get a warning that a different conversion rate was applied to the taxi expense by Visa that the one used by your company.
How do you handle this situation?
- A. Do not enter the taxi expense and call your Finance Department so that they can make changes in the conversion rate settings and you do not violate the allowable limit.
- B. Use the corporate-defined conversion rate even if it means you will not be reimbursed fully.
- C. Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then, wait to get a revised statement.
- D. Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a different conversion rate.
Answer: D
Explanation:
Explanation
Payables uses five types of exchange rates. Payables uses exchange rates to convert invoice and payment amounts into your ledger currency.
* User. Used to manually enter your own exchange rate during invoiceentry or at payment time. If you use the User exchange rate type, if the Payables option Calculate User Exchange Rate is enabled, and if you are using the Invoices window or the open interface table, then Payables calculates the invoice exchange rate if you provide the Ledger Currency amount.
Etc.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e12797/T295436T368341.htm
NEW QUESTION 81
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 82
Which method can you use to route payment approval rules?
- A. Sequential
- B. Parallel
- C. Serial and FYI (For Your Information)
- D. Both Parallel and Sequential
- E. Approval Groups
Answer: A
NEW QUESTION 83
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 84
A Payment Process Request was submitted and errors were found in the payment file. The payment file and process were terminated.
Which two statements are true? (Choose two.)
- A. The status of the payment file is Cancelled.
- B. The status of each payment in the payment file is Terminated.
- C. The status of each payment in the payment file is Cancelled and the related documents are available for future selection.
- D. The invoices are placed on payment hold.
- E. The status of the payment file is Terminated.
Answer: C,E
Explanation:
Explanation
If the payment file has been terminated and the documents payable have been returned to the source product, then the status of the Printed Payment File is Terminated.
Oracle Fusion Paymentsinforms the source product of the terminated documents payable. Then for each payment in the payment file, Payments sets the status to Canceled.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011879AN17393.htm
NEW QUESTION 85
Your client wants the subledger journal entry description to be transferred to general ledger.
Which two could be used to enable this? (Choose two.)
- A. Set the General Ledger Journal Entry Summarization option to Group by general ledger period
- B. Set the General Ledger Journal Entry Summarization option to Summarize by general ledger date
- C. Set the General Ledger Journal Entry Summarization option to Summarize by general ledger period
- D. Set the General Ledger Journal Entry Summarization option to Group by general ledger date
Answer: B,C
NEW QUESTION 86
You applied a prepayment amount of $5,000 USD to a $10,000 USD invoice. At the time of prepayment, the applicable tax rate was 5% ($250 USD); at the time of invoice creation, the tax rate is 10%. When you set up taxes, you choose to Recalculate Taxes for the Applied Amount Handling option.
How will the resulting tax be calculated?
- A. The tax for the prepayment is recalculated to use the new invoice tax rate that is also used for the invoice line amount. The two generated tax lines show $1,000 USD (10% * 10,000) for the invoice line tax amount and a prepayment tax line of -500 USD (10% * -5000).
- B. The tax calculation creates two tax lines: one for the invoice line amount and one for the prepayment with a negative amount. The two generated tax lines show $1,000 USD (10% * 10,000) for the invoice line tax amount and a prepayment tax line of -250 USD (5% * -5000).
- C. The tax calculated on the prepayment is reversed completely and the tax rateapplied to the invoice line is retained.
- D. The tax for the prepayment is recalculated and the generated tax line amount will be $250 USD (5% *
10,000-5000).
Answer: A
Explanation:
Explanation
When you apply a prepayment to an invoice, the tax rate at the time of prepayment may differ from the tax rate at the time that the prepayment is applied to an invoice. Oracle Fusion Tax considers the tax calculated on the prepayment according to the value assigned to the Applied Amount Handling option in the tax record. The values are Recalculated and Prorated.
For example, you apply a prepayment amount of 5,000 USD to an invoice with a total amount of10,000 USD.
At the time of prepayment, the applicable tax rate was 5% (250 USD tax on the prepayment); at the time of invoice creation, the applicable tax rate is 10%. Tax is calculated in this way:
* Recalculated: The tax is recalculated on the prepayment using the invoice tax rate and the same tax rate is applied to the invoice line amount. The tax calculation creates two tax lines: one for the invoice line amount and one for the prepayment with a negative amount. In the invoice example, the calculationcreates an invoice line amount tax line of 1,000 USD (10% * 10,000 USD) and a prepayment tax line of -500 USD (10% * -5000 USD). This reverses tax calculated on the invoice for the prepayment amount applied. The tax calculated on the prepayment is retained.
* Prorated:Etc.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAFTT/F1006655AN242EE.htm
NEW QUESTION 87
You are using both Procurement and Financials. You want the system to automatically accrue uninvoiced receipts. Select two true statements. (Choose two.)
- A. For period end accruals, the invoice accounting for inventory items debits receipt inventory and credits the uninvoiced receipts.
- B. For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account.
- C. For period end accruals, the invoice accounting debits the expense account and credits the liability account.
- D. For period end accruals, accounting is created at material receipt or at delivery to a final destination.
Answer: B,C
NEW QUESTION 88
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 maintain sets of related data in a Data Dictionary
- B. allow you to share reference data, such as payment terms, across multiple business units to avoid redundant setup
- C. allow you to secure data by business unit
- D. allow you to assign multiple business units to users in a shared service center
Answer: B
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 89
You want to route invoices to three different approvers at the same time and only one approver needs to approve the invoice. Which approval ruleset should you use?
- A. InvoiceApproversParallelParticipantInParallelMode
- B. Invoice Approvers
- C. InvoiceApproversSingleParticipantInParallelMode
- D. InvoiceApproversFYIParticipantInParallelMode
Answer: A
NEW QUESTION 90
You have created your first implementation project. You have assigned the Application Implementation Consultant role to your user. However, you are unable to create and add roles to users in Oracle Identity Management (OIM).
This issue is caused because you did not assign the ________.
- A. IT Security Manager role to your user
- B. Line Manager role to your user
- C. Superuser role to your user
- D. Application Implementation Manager role to your user
Answer: D
Explanation:
Explanation
For an implementation to begin, at least one user must be provisioned with the Application Implementation Manager role, and another or the same user must be provisioned with the ApplicationImplementation Consultant role. The Application Implementation Consultant has broad access to set up all enterprise structures.
NEW QUESTION 91
Which two tools can you use to build layouts for BI Publisher reports? (Choose two.)
- A. BI Answers
- B. Layout Editor
- C. Report Developer
- D. Template Builder for Word
- E. BI Composer
Answer: B,C
Explanation:
Explanation
Oracle BI Publisher report development requires specialist developer resources to build / modify the XML layout designs.
layout editor - Helps you to easily create report layouts directly in a web browser or with familiar desktop tools, such as Microsoft Word, Microsoft Excel, or Adobe Acrobat.
NEW QUESTION 92
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. Choose Match to Receipt.
- B. Choose to Match in full to the Purchase Order.
- C. Enter the Invoice manually and add the freight line.
- D. Choose to Match to Receipt Charges.
- E. Choose to Match to Invoice Lines.
Answer: D
NEW QUESTION 93
Which two are true for Payables Payment Terms? (Choose two.)
- A. When entering an Invoice, you will see Payment Terms assigned to the reference data set associated with the Business unit on the invoice plus those associated with the common set.
- B. When entering an Invoice, you will see Payment Terms assigned to the reference data set associated with the Business unit on the invoice but not those associated with the common set.
- C. You must assign the predefined payment term Immediate to the reference data set that is assigned to the business unit before you can define common options for Payables and Procurement.
- D. Each payment term can only be assigned to one reference data set.
Answer: A,C
Explanation:
Explanation
Assigning a reference data set to a business unit: When you define a business unit, assign the business unit a reference data set for the Payables Payment Terms reference group.
Before you define common options for Payables and Procurement, you must assign the Immediate payment term to the reference data set for the business unit.
NEW QUESTION 94
Which dashboard or workarea displays the Scanned Invoices region for invoices processed through the Payables Integrated Imaging solution?
- A. C-level executives
- B. Invoices Workarea only
- C. Payables Dashboard only
- D. Manage Invoices page
- E. Payables Dashboard and Invoices Workarea
Answer: B
Explanation:
Explanation
Accounts payable specialists can view the list of scanned images for invoice entry, along with the additional routing attributes, in the Scanned Invoices region of the Invoices work area.
References:http://docs.oracle.com/cd/E36909_01/fusionapps.1111/e20375/F569958AN60E65.htm
NEW QUESTION 95
Identify what Oracle considers two best practices when setting up Payables and Receivables account access for bank reconciliation. (Choose two.)
- A. Allow bank accounts to be accessed by all roles and users because the default value to secure a bank account by users and roles is No.
- B. Only business units who use the same ledger as the bank accounts owning legal entity can be assigned access.
- C. Do not assign bank accounts to business units.
- D. Business units must be granted access to the bank account.
- E. Assign a few general ledger cash accounts to multiple bank accounts to facilitate book-tobank reconciliation.
Answer: B,D
Explanation:
Explanation
Account Access
Payables and Receivables account access is secured by business unit. In addition to selecting theappropriate application use or uses, one or more business units must be granted access before the bank account can be used by Payables and Receivables. Only business units that use the same ledger as the bank accounts owning legal entity can be assigned access.
NEW QUESTION 96
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 Installments
- B. Review Proposed Payments
- C. Build Payments
- D. Create Payment Files
Answer: D
NEW QUESTION 97
Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?
- A. The payment term of the invoice overrides the purchase order payment term.
- B. The purchase order payment term cannot be overridden.
- C. The user needs to manually change the payment term on the invoice to match the purchase order payment term.
- D. The payment term of the purchase order overrides the invoice payment term.
- E. The user needs to specify which payment term to use.
Answer: A
NEW QUESTION 98
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 roles to each auditor.
- B. Assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles to each Expense Auditor.
- C. Assign the Expense Auditor as the owner of each business unit.
- D. Use segment valuesecurity rules to secure access to business units.
Answer: B
Explanation:
Explanation
You can enable expense auditors to audit expense reports for specific business units by assigning them specific expense auditor data roles for the business units. For example, to allow an expense auditor toaudit expense reports for the Vision Operations and Vision Services business units, assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles, respectively, to the expense auditor.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.ht
NEW QUESTION 99
Which three are supported image formats for the Integrated Imaging solution? (Choose three.)
- A. JPEG
- B. PNG
- C. RTF
- D. XLS
- E. TIFF
Answer: A,B,E
NEW QUESTION 100
What is the recommendation when setting up Reconciliation Rule Sets?
- A. Many to Many rules should always be used first in the sequence.
- B. Many to Many rules should always be used last in the sequence.
- C. One to One rules should be sequenced above rules of other types.
- D. One to One rules should be sequenced below rules of other types.
Answer: C
NEW QUESTION 101
A Bill Payable document was paid but has not yet matured.
What is the status of the payment?
- A. In Transit
- B. Issued
- C. Negotiable
- D. Cleared
Answer: B
NEW QUESTION 102
Which two statements are true about processing corporate card expenses? (Choose two.)
- A. Conversion rate defaults apply only to cash expenses, not to corporate card expenses.
- B. You can process payment for credit card using Electronic funds transfer, check, or wire.
- C. Usage policy for expense category tolerances does not apply to credit card expenses.
- D. Card transactions will be paid directly from Expenses Cloud.
- E. Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses.
Answer: A,C
Explanation:
Explanation
Conversion rate behavior applies only to cash expenses, not to corporate card expenses.
To enable your company to pay a corporate card issuer, you enter a default payment method, whether check, EFT (Electronic funds transfer), or wire, in the Address Payment Information region of the Edit Corporate Card Issuer page, as well as bank account information.
References:
https://docs.oracle.com/cloud/latest/financialscs_gs/FAIEX/FAIEX1456644.htm
https://docs.oracle.com/cd/E48434_01/fusionapps.1118/e49599/F1110434AN7B1F9.htm
NEW QUESTION 103
Which three options are available to filter data when you submit the Prepare Payables to Ledger Reconciliation report? (Choose three.)
- A. Natural Account
- B. Balancing Segment Value
- C. Business Unit
- D. Supplier
- E. Ledger Set
- F. Legal Entity
Answer: B,C,E
Explanation:
Explanation
Typically General Ledger users are secured by data access sets. Data access sets use primary balancing segment values to secure access to ledgers, ledger sets, and portions of ledgers. Payables users are secured by business units.
For the Payables to General Ledger Reconciliation report:
General Ledger users can see general ledger data for the balancing segment values in their data access set.
General Ledger users can also see the Payables or Oracle Fusion Subledger Accounting data for all business units linked to the ledger.
Payables users can see the Payables and Subledger Accounting data for business units in their security definition. Payables users can also see general ledger data for all balancing segment values in the ledger.
NEW QUESTION 104
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