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

Oracle 1Z0-1055-20 Online Questions & Answers

• Question 81:

  You are voiding a payment and have selected Cancel as the Invoice Action. After performing the void, you notice the invoice is not cancelled but has an Invoice Cancel hold on it. What is reason for this?

  A. The invoice has been partially paid by another payment.
  B. The invoice date is not in the current open period.
  C. The invoice is already on hold.
  D. The invoice accounting date is not in the current open period.
  A. The invoice has been partially paid by another payment.

• Question 82:

  Your customer has requested a modification to the payment file to meet the acceptable bank standards. The changes were based on a format of a seeded payment process profile which is already in use. The only changes made are to the field positions. What two steps can make these changes work?

  A. No change in the template is needed as we can achieve this using user-defined validations to move the positions as required.
  B. Keep the payment process profile and leave the format programs unchanged.
  C. Copy and modify the existing template to alter the positions as requested by the bank.
  D. Create a newpayment process profile and a new format program.
  E. Create a new template to make changes as requested by the bank.
  F. Oracle Data Integrator or Golden Gate can be used to map the fields as required.
  C. Copy and modify the existing template to alter the positions as requested by the bank.
  E. Create a new template to make changes as requested by the bank.

• Question 83:

  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. Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then, wait to get a revised statement.
  C. Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a different conversion rate.
  D. Use the corporate-defined conversion rate even if it means you will not be reimbursed fully.
  C. Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a different conversion rate.

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  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

• Question 84:

  An invoice for $1,000 USD and a credit memo for ($1,100) USD are due for payment. What are the two outcomes if you chose the "Apply Credits Up to Zero Amount" option when submitting a Payment Process Request? (Choose two.)

  A. Both the invoice and the credit memo are included in the Payment Process Request.
  B. Neither the invoice nor the credit memo is included in the Payment Process Request.
  C. Both the invoice and the credit memo are fully paid.
  D. Only the invoice is paid fully but the credit memo is partially paid with a credit of ($100) USD remaining.
  A. Both the invoice and the credit memo are included in the Payment Process Request.
  D. Only the invoice is paid fully but the credit memo is partially paid with a credit of ($100) USD remaining.

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  When yousubmit 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 illustratethe 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 table describes the payment processing that occurs based on the setting for the Apply credits upto 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 85:

  You want your expense auditors to audit only expenses reports for specific business units. How do you do this?

  A. Create your own audit extension rules that correspond to the business unit.
  B. Assign the auditors' specific data roles for the corresponding business units.
  C. Create a custom duty role and assign the data roles to each auditor.
  D. Make auditors the managersof the corresponding business unit to route expense reports properly.
  B. Assign the auditors' specific data roles for the corresponding business units.

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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 to audit 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.htm

• Question 86:

  You created a payment and before it is cashed by the supplier you mistakenly submitted a request to stop payment. Later you canceled the request to stop payment. What is the resulting payment status?

  A. Voided
  B. Negotiable
  C. Stop initiated
  D. Available
  E. Canceled
  F. Cleared
  B. Negotiable

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  To release a stop on a payment: References:https://docs.oracle.com/cd/A60725_05/html/comnls/us/ap/adjpmt04.htm

• Question 87:

  You need to have an invoice line automatically distributed across multiple cost centers. For example, you want your monthly utility bill allocated across multiple cost centers based on a percentage. Select two methods to achieve this. (Choose two.)

  A. Configure Subledger Accounting rules to allocate costs.
  B. Define a distribution set and assign it manually to the invoice.
  C. Choose the `All Lines' option from the Allocate menu in the invoice line area.
  D. Define a distribution set and assign it to the supplier.
  A. Configure Subledger Accounting rules to allocate costs.
  B. Define a distribution set and assign it manually to the invoice.

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  A: Account Rules by Segment Define segment rules to derive a specific segment of the general ledger account. For example, a particular segment like the company segment can be determined from the distribution account. Another segment can be determined with the use of a constant value. Creating the account one segment at a time offers greater flexibility, but also requires more setup.

  C: You can use a Distribution Set to automatically enter distributions foran invoice when you are not matching it to a purchase order. For example, you can create for an advertising supplier a Distribution Set that allocates advertising expense on an invoice to four advertising departments. References:https://docs.oracle.com/cd/A60725_05/html/comnls/us/ap/distsets.htm

• Question 88:

  Which three are supported image formats for the Integrated Imaging solution? (Choose three.)

  A. RTF
  B. JPEG
  C. TIFF
  D. XLS
  E. PNG
  B. JPEG
  C. TIFF
  E. PNG

• Question 89:

  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 and the generated tax line amount will be $250 USD (5% * 10,000-5000).
  B. 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).
  C. 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).
  D. The tax calculated on the prepayment is reversed completely and the tax rateapplied to the invoice line is retained.
  B. 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).

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  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

• Question 90:

  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 invoices are placed on payment hold.
  B. The status of each payment in the payment file is Terminated.
  C. The status of the payment file is Terminated.
  D. The status of each payment in the payment file is Cancelled and the related documents are available for future selection.
  E. The status of the payment file is Cancelled.
  C. The status of the payment file is Terminated.
  D. The status of each payment in the payment file is Cancelled and the related documents are available for future selection.

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  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