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

Oracle 1Z0-1055-20 Online Questions & Answers

• Question 101:

  An installment meets all of the selection criteria of a Payment Process Request but it still did not get selected for payment processing. Identify two reasons for this.

  A. The pay-through date is in a closed Payables period.
  B. The pay-through date is in a future period.
  C. The invoices need revalidation.
  D. The invoice has not been accounted.
  E. The installment was manually removed.
  A. The pay-through date is in a closed Payables period.
  C. The invoices need revalidation.

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  An installment can meet the selection criteria of a payment process request, yet not get selected for payment for one or more reasons.

  You can review installments that were not selected for payment, along with the reasons they were not selected, on the Not Selected tab of the Review Installments page.

  The reasons are as follows:

  References:https://docs.oracle.com/cd/E37017_01/doc.1115/e22897/F438410AN16238.htm

• Question 102:

  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 selected and no discount is applied.
  C. The installment is not selected because the due date is after the Pay Through Date.
  D. The installment is selected and a discount of $50 USD is applied.
  E. The installment is selected and a discount of $150 USD is applied.
  C. The installment is not selected because the due date is after the Pay Through Date.

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  References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm#FAPPP1 011879

• Question 103:

  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. Non purchase order matched invoices
  D. Invoices that are created from the Evaluated Receipt Settlement (ERS) process
  E. Purchase order matched invoices
  B. B2B XML invoices
  D. Invoices that are created from the Evaluated Receipt Settlement (ERS) process
  E. Purchase order matched invoices

• Question 104:

  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 previous accounting and payment records for an invoice are reversed.
  C. All related withholding tax invoices are automatically voided.
  D. Any realized gain or loss previously calculated is reversed.
  E. Voiding the payment automatically places an invoice on hold.
  A. All related interest invoices are reversed if previously created.
  B. Any previous accounting and payment records for an invoice are reversed.
  D. Any realized gain or loss previously calculated is reversed.

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  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

• Question 105:

  Which reporting tool is used to report on real-time data?

  A. Essbase Cube
  B. Smart View
  C. Oracle Business Intelligence Publisher
  D. Oracle Financial Reporting Studio
  E. Oracle Transactional Business Intelligence (OTBI)
  B. Smart View

• Question 106:

  Select three reasons why you cannot close your Payables period. (Choose three.)

  A. open intercompany transactions
  B. unapplied prepayments
  C. suppliers on payment holds
  D. bills payable requiring maturity
  E. unaccounted invoices and payments
  A. open intercompany transactions
  D. bills payable requiring maturity
  E. unaccounted invoices and payments

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  The types of exceptions reported are: References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9DE8D32BDBE0FBADE040D30 A688146CA

• Question 107:

  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 pays only $200 USD alone.
  B. 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.
  C. The payment process request creates a refund for $225 USD and leaves the invoice unpaid.
  D. 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.
  B. 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.

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  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_9F438E13CC89BA0CE040D30 A68816F77

• Question 108:

  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. Make sure the Invoice Number is the same.
  B. Make sure all the invoice dates are the same.
  C. Assign the same Invoice Header Identifier to multiple invoices you want to group.
  D. Enable the invoice option Require Invoice Grouping, and the system automatically groups invoices entered in the same spreadsheet.
  E. Enter a value in the Invoice Group field to group similar invoices into a batch.
  D. Enable the invoice option Require Invoice Grouping, and the system automatically groups invoices entered in the same spreadsheet.

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  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

• Question 109:

  How will system evaluate the tolerances for expense reports?

  A. System will calculate error tolerance as (|Policy Rate * (1+Error Tolerance/100)|) currency precision.
  B. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100)*currency precision.
  C. System will calculate error tolerance as Policy Rate * (1+Warning Tolerance+ Error Tolerance/100).
  D. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100).
  E. System will use absolute amount tolerance setup to do validations.
  C. System will calculate error tolerance as Policy Rate * (1+Warning Tolerance+ Error Tolerance/100).

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  Error: A percentage is used to calculate an error. The error tolerance amount is calculated as follows: Policy Rate * (1+Error Tolerance/100) References:https://docs.oracle.com/cd/E60665_01/financialscs_gs/FAIEX/F1456644AN125F2.htm

• Question 110:

  You have assigned additional roles to an existing user. However, the new roles are not appearing for the user in their Navigator menu. What should you check?

  A. Make sure you can query the user using Oracle Identity Manager (OIM) and the roles are assigned.
  B. Make sure you can query the user from the Manage Users page and verify the roles assigned.
  C. Make sure you ran the Retrieve Latest LDAP Changes program.
  D. Make sure the user logs out and logs back in.
  C. Make sure you ran the Retrieve Latest LDAP Changes program.

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  Oracle Identity Management maintains Lightweight Directory Access Protocol (LDAP) user accounts for users of Oracle Fusion Applications. Oracle Identity Management also stores the definitions of abstract, job, and data roles, and holds information about roles provisioned to users. Most changes to user and role information are shared automatically by Oracle Applications Cloud and Oracle Identity Management. No action is necessary to make this exchange of information happen. However, you must run the processes Send Pending LDAP Requests and Retrieve Latest LDAP Changes to manage some types of information exchange between Oracle Applications Cloud and Oracle Identity Management. References:https://docs.oracle.com/cd/E60665_01/common/FASER/FASER1345802.htm