Oracle 1Z0-1055-20 Online Practice Questions and Exam Preparation

Oracle 1Z0-1055-20 Online Questions & Answers

• Question 1:

  If you accidentally paid an invoice using Create Payment flow, can you undo the operation?

  A. yes, by canceling the payment process from the process monitor
  B. Cancel the invoice and create a new one.
  C. yes, by voiding the payment created
  D. yes, by creating a credit memo to offset the payment
  E. no
  E. no

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  You cannot terminate a Payment Instruction: References:https://docs.oracle.com/cd/E18727_01/doc.121/e12797/T295436T369088.htm

• Question 2:

  When reviewing installments, what setup is required to override the supplier site on an invoice?

  A. Allow the remit-to supplier override for third-party payments at Manage Invoice options.
  B. Allow the remit-to supplier address override for third-party payments at Manage Invoice options.
  C. Allow payee to override for third-party payments while Manage Invoice options.
  D. Allow the remit-to supplier override for third-party payments at Manage Payment options.
  B. Allow the remit-to supplier address override for third-party payments at Manage Invoice options.

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  (Optional) Setting the Remit-to Supplier Override Option References:https://docs.oracle.com/cloud/farel9/financialscs_gs/FAIPP/F1470346AN14ECB.htm

• Question 3:

  An Office supplies company requires an advance payment of $8000 for the office supplies you wish to order. You enter and pay a prepayment type invoice for $8000. You enter the standard invoice to book the expense which totals $10000 and you apply the prepayment to the standard invoice. What are the accounting entries for that standard invoice with the prepayment application?

  A. Invoice accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.The prepayment application has no impact on the Invoice.
  B. Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability 8000 Cr Prepayment Account 8000.
  C. Invoice Accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr Expense Account 8000 Cr Prepayment Account 8000.
  D. Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability Account 2000 Cr Prepayment Account 2000.
  A. Invoice accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.The prepayment application has no impact on the Invoice.

• Question 4:

  Which statement is true about selecting a bank account on the Create Payment page?

  A. LE on the bank account should be different from the LE on the invoice.
  B. Bank account must match the supplier's bank account.
  C. Users can pick any bank account as long as the bank account is tried to the business unit.
  D. There is no relationship between the business unit, bank, and LE. Users can pick any bank account that is setup in their system.
  E. LE on the bank account should be equal to LE on the invoice.
  E. LE on the bank account should be equal to LE on the invoice.

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  Note: LE = legal entity

• Question 5:

  Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run? (Choose two.)

  A. For the Legal Jurisdiction, Legal function: "Generate intercompany invoice" should be assigned.
  B. Schedule create accounting for the intercompany process.
  C. Supplier site primary pay flag and customer account bill to primary flag should be enabled.
  D. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.
  E. Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables.
  F. Manual Approvals should be allowed for the transaction type.
  C. Supplier site primary pay flag and customer account bill to primary flag should be enabled.
  E. Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables.

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  References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAUGL/FAUGL1476872.htm

• Question 6:

  Which attributes on the payables invoice can be used during approval rule creation?

  A. company segment, cost center segment, supplier, and Attribute 1 on the invoice line
  B. company and cost center segment only
  C. supplier only
  D. cost center segment and supplier only
  A. company segment, cost center segment, supplier, and Attribute 1 on the invoice line

• Question 7:

  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 documents to "show errors."
  B. Set the validation failure handling for payments to "stop process for review."
  C. Set the validation failure handling for payments to "show errors."
  D. Enable debug for the payment format program.
  B. Set the validation failure handling for payments to "stop process for review."

• Question 8:

  You need to enter a high volume of users into the system. What is Oracle's recommendation to do this?

  A. Use the Enter a Supplier user interface and enter each user manually.
  B. Use the Hire an Employee user interface and enter each user manually.
  C. Use the spreadsheet templates available in Oracle Enterprise Repository (OER) and then import users into Cloud Applications.
  D. use the spreadsheet of Oracle Identity Manager (OIM) to import users.
  C. Use the spreadsheet templates available in Oracle Enterprise Repository (OER) and then import users into Cloud Applications.

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  If you have batch of users that have to be created, the Oracle team can bulk load the users into the OIM Application. References:http://docs.oracle.com/cd/E79623_01/rms/pdf/160C/html/admin_guide/tasks.htm Answer:

• Question 9:

  Which three are attributes that are recognized by Invoice Imaging? (Choose three.)

  A. Terms Date
  B. Payment Method
  C. Invoice Date
  D. PO Number
  E. Invoice Number
  C. Invoice Date
  D. PO Number
  E. Invoice Number

• Question 10:

  Which three reports are generated by the export setup data process? (Choose three.)

  A. Exported Business Object Report
  B. Process Results Report
  C. Process Results Summary Report
  D. Process Results Detail Listing Report
  E. Setup Data Report
  B. Process Results Report
  C. Process Results Summary Report
  E. Setup Data Report