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

Oracle 1Z0-1055-20 Online Questions & Answers

• Question 61:

  Which two statements are true about the Invoice Validation process? (Choose two.)

  A. opens the relevant accounting period
  B. validates project information
  C. updates supplier balances
  D. creates tax lines and distributions
  E. creates accounting entries in draft
  B. validates project information
  D. creates tax lines and distributions

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  Invoice validations Etc. References: https://docs.oracle.com/cloud/farel9/financialscs_gs/FAPPP/F1011878AN100C4.htm

• Question 62:

  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 be changed to February 20,2018, the same day of the next period.
  B. The accounting dates of all unaccounted invoices will change to February 28, 2018, the last day of the next period.
  C. The accounting dates of all unaccounted invoices will remain unchanged at January 20, 2018.
  D. 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 be changed to February 1, 2018, the first day of the next period.

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  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

• Question 63:

  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 Invoice Options and Manage common options for Payables and Procurement
  B. Manage Payable Options and Manage Invoice Options
  C. Manage Invoice Options and Manage Procurement agents
  D. Manage common options for Payables and Procurement and Manage Procurement agents
  E. Manage Payment Options and Manage common options for Payables and Procurement
  B. Manage Payable Options and Manage Invoice Options

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  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

• Question 64:

  Which is the Payables tool based on real-time data?

  A. Essbase Cube
  B. Smart View
  C. Oracle Transactional Business Intelligence (OTBI)
  D. Oracle Business Intelligence Applications (OBIA)
  E. Oracle Financial Reporting (FR)
  C. Oracle Transactional Business Intelligence (OTBI)

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  Oracle Transactional Business Intelligence (OTBI) provides real-time insight into HCM business processes. Traditional ad-hoc reporting tools require a user to have an understanding of the data objects in the database. References:http://www.oracle.com/us/products/applications/fusion/hcm-oracle-transactional-bi-ds- 2187697.pdf

• Question 65:

  When submitting the Payables to General Ledger Reconciliation report, the extract did not select any dat

  A. What should you check?
  B. Make sure you assign an Account parameter when running the extract to include liability accounts.
  C. Make sure you specified a Business Unit in the parameters when running the extract.
  D. Make sure you enabled the Reconciliation flag to all of your liability natural account values.
  E. Make sure you assigned a Financial Category of Accounts Payable to all your liability natural account values.
  D. Make sure you enabled the Reconciliation flag to all of your liability natural account values.

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  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

• Question 66:

  What is the difference between subject areas that append the word "Real Time" and those that do not?

  A. The "Real Time" subject areas are based on real-time transactions and those that are not, are based on historical data.
  B. The "Real Time" subject areas are based on real-time transactions in the applications, and those that are not, are based on data stored in the Oracle Business Intelligence Applications data warehouse.
  C. There is no difference.
  D. The "Real Time" subject areas are based on subledger transactions and the ones that are not are based on general ledger balances.
  B. The "Real Time" subject areas are based on real-time transactions in the applications, and those that are not, are based on data stored in the Oracle Business Intelligence Applications data warehouse.

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  In Oracle Fusion applications, there are two types of subject areas:

  Subject areas whose names usually end with Real Time and access real-time (transactional) data. Subject areas whose names usually do notend with Real Time and access data warehouse data. References: https://docs.oracle.com/cloud/

  farel8/common/OATBI/postinstallation.htm

• Question 67:

  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. Use segment valuesecurity rules to secure access to business units.
  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. 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.

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  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

• Question 68:

  You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid?

  A. Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero.
  B. Both the invoice and the credit memo are paid and a refund of $25 USD is created.
  C. Both the invoice and credit memo are included in the payment process request for a payment amount of $0 USD. The credit memo is partially paid with a remaining credit of $25 USD.
  D. Both the invoice and the credit memo are selected and the Payment Process Request requires attention.
  C. Both the invoice and credit memo are included in the payment process request for a payment amount of $0 USD. The credit memo is partially paid with a remaining credit of $25 USD.

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  When you submit a "payment process request", you can enable the Apply credits up to zero amount payment option. Enabling the 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 memo for 225 USD are due for payment. The following tabledescribes 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 69:

  While processing an expense report, the system placed a payment hold on the expense report. What are two ways to release payment holds? (Choose two.)

  A. The employee can manually release the hold.
  B. Payables Manager can release payment holds in Payables.
  C. The employee's supervisor can manually release the hold.
  D. The expense auditor can manually release the payment hold at his discretion.
  E. Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived.
  D. The expense auditor can manually release the payment hold at his discretion.
  E. Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived.

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  Payment holds are released in the following ways: References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.htm

• Question 70:

  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.
  D. Assign the expense auditors job role and business unit security context and value to the user.