Oracle Enterprise Resource Planning (ERP) 1Z0-1055-21 Questions & Answers

• Question 1:

  What are the output formats supported for Electronic and Check format programs?

  A. Electronic output format of XML, Check output format of rtf

  B. Electronic output format of eText, Check output format of rtf

  C. Electronic output format of Text, Check output format of Text

  D. Electronic output format of DATA (csv), Check output format of Zipped PDFs

  E. Electronic output format of PDF, Check output format of PDF

  Correct Answer: B

  The eText template is used specifically for electronic data interchange (EDI) and electronic funds transfer (EFT). References: https://docs.oracle.com/cd/E56614_01/common_op/OAEXT/F1203011AN1CABC.htm

• Question 2:

  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.

  Correct Answer: B

  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 3:

  A company has a requirement to pay small suppliers outside of Payables, but it does not want to manually

  record each payment.

  Which solution should you implement?

  A. Create payments by using the Check Payment method for those suppliers and then destroy those checks.

  B. Create payments by using Electronic Funds Transfer (EFT) for those suppliers but do not send the electronic file to the bank.

  C. Create payments by using a clearing payment method for thosesuppliers because this payment method does not generate a file.

  D. Create a payment by using a wire payment method for those suppliers.

  Correct Answer: D

  When you create a payment outside of Payables, for example, using a typed check or wire transfer, within Payables you can record the payment and update the invoices that you paid.

• Question 4:

  Your customer has an electronic payment format program in use and wants all the documents to use the pay group "Domestic". What should you do to achieve this?

  A. Define a user validation at the format program to include: Field "Document pay group", condition "Equal to String", value "Domestic", and Field "Document pay group", condition "Required" and value ?not applicable.

  B. Define a user validation at the format program to include: Field "Document pay group", condition "Equal to String", and value "Domestic".

  C. Modify your template to hard code the value "Domestic" for the pay group position.

  D. Define a user validation at the formatprogram to include: Field "Document pay group", condition "Equal to String", value "Domestic", and Field "Format Program Code", condition "Equal to String" and value ? as desired.

  Correct Answer: B

  User-Defined Validation That Checks a Specific Condition and Value References:https://docs.oracle.com/cloud/farel9/financialscs_gs/FAIPP/F1469799AN17B6B.htm

  

• Question 5:

  Your company wants to generate intercompany transactions in USD but only if the amount involved is $3,000 USD or more. Which two intercompany system options are valid?

  A. You cannot update the minimum transaction currency when intercompany currency is entered.

  B. Intercompany invoices will be generated for the minimum accountable amount set at the payable invoice options and receivable system options.

  C. Set the intercompany system option minimum transaction amount to $ 3,000 USD.

  D. Approval rules need to set the allow of the intercompany transactions to be routed to the receiver or provider.

  E. Set the intercompany system option minimum transaction amount to $2,999.99 USD.

  Correct Answer: BC

  Define intercompany system options to set up intercompany processing rules at the enterprise level, based on your specific business needs. Minimum Transaction Amount The minimum transaction amount represents a minimum threshold intercompany transaction amount, and prevents the submission of immaterial transactions for small amounts, which are non- value added. In order to implement this rule, you must select a minimum transaction currency for processing intercompany transactions. These two system options must be related to ensure that when comparing a transaction amount to the minimum transaction amount, the two numbers are entered in the same currency, allowing for an accurate comparison. References:https://docs.oracle.com/cd/E48434_01/fusionapps.1118/e49599/ F1110451AN99BEF.ht m

• Question 6:

  Which three attributes are captured during the scanning of invoice images?

  A. Invoice Date

  B. Invoice Number

  C. Terms Date

  D. PO Number

  E. Payment Method

  Correct Answer: ABD

  For Payables invoice processing, PO number, supplier, invoice number, invoice amount, invoice date, customer taxpayer ID, and business unit are extracted as part of the predefined configurations. This figure shows the Scanned information tileon the Invoices landing page.

  

  References:http://docs.oracle.com/cd/E36909_01/fusionapps.1111/e20375/F569958AN60E65.htm

• Question 7:

  Identify three statements that indicate the purpose of Functional Setup Manager.

  A. It allows you to centrally manage the close processes across subledgers and ledgers.

  B. it allows you to assign setup tasks to individuals with due dates where users must manually update their completion status.

  C. It automatically marks the completion status of tasks as Completed once they have been completed.

  D. It automatically generates lists of setup tasks in the correct sequence with dependencies highlighted.

  E. It provides a central place to access and perform all of the setup steps across the applications.

  Correct Answer: CDE

  With Oracle Fusion Functional Setup Manager you can: References:https://docs.oracle.com/cd/E56614_01/common_op/OAFSM/F1166427AN1007E.htm

• Question 8:

  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.

  Correct Answer: C

  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

• Question 9:

  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.

  Correct Answer: B

  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 10:

  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. Superuser role to your user

  B. IT Security Manager role to your user

  C. Application Implementation Manager role to your user

  D. Line Manager role to your user

  Correct Answer: C

  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.