Oracle 1Z0-1055-21 Online Practice Questions and Exam Preparation

Oracle 1Z0-1055-21 Online Questions & Answers

• Question 41:

  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 42:

  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 43:

  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 44:

  Which component is not included in the security architecture for credit card data and bank account data encryption?

  A. Oracle Wallet
  B. Supplier master encryption key
  C. Sensitive data encryption and storage
  D. Payments subkeys
  E. Payments master encryption key
  B. Supplier master encryption key

• Question 45:

  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 46:

  You have modified your tax setup and want to test the changes on actual Payables transactions. How do you validate before enabling for transaction?

  A. by creating accounting in draft mode
  B. by changing the tax status to test and then entering a payables invoice
  C. by creating a payable invoice, and by validating and reviewing the tax application
  D. Oracle Transactional Business Intelligence (OTBI)
  E. by using Tax Simulator to test
  E. by using Tax Simulator to test

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  Run taxes from all applicable tax regimes against a sample transaction to verify that your tax configuration and tax rules were created and applied according to yourrequirements. You can either create a sample transaction within Tax Simulator or copy an existing transaction. The simulated tax calculations do not affect live data. Note:The Tax Simulator is a tool for simulating the tax determination process in your tax setup. The Tax Simulator lets you preview the workings of your tax configuration before you perform tax calculations on live transactions in a subledger application. TheTax Simulator also allows you to test new tax configuration in conjunction with existing tax configuration to preview the resulting tax calculation. The Tax Simulator is a useful tool to identify the root cause when tax calculation is not what is expectedon live data. References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAFTT/F1006654AN226D8.htm

• Question 47:

  You want to customize the Payables Invoice Register template to only display invoices when the Supplier name is Company

  A. Supplier name is a group that repeats on every page. Which is the correct way to customize the template?
  B. Insert the syntax
  C. Insert the syntax before the Supplier field and then enter the closing tag
  D. Insert the syntax before the Supplier field and then enter the closing tag
  E. Hard code Supplier Name "Company A" in the report template and only invoices for that supplier will be displayed.
  D. Insert the syntax before the Supplier field and then enter the closing tag

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  Use an if statement to define asimple condition; for example, if a data field is a specific value. Insert the following syntax to designate the beginning of the conditional area.

  Insert the following syntax at the end of the conditional area: . References:https://isu.ifmo.ru/docs/XMLP/help/en_US/htmfiles/B25951_01/T421739T421743.htm

• Question 48:

  Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?

  A. The user needs to specify which payment term to use.
  B. The payment term of the purchase order overrides the invoice payment term.
  C. The payment term of the invoice overrides the purchase order payment term.
  D. The purchase order payment term cannot be overridden.
  E. The user needs to manually change the payment term on the invoice to match the purchase order payment term.
  C. The payment term of the invoice overrides the purchase order payment term.

• Question 49:

  Before you can configure payment approval rules, your company must define a payment approval policy. Which three are done by the payment approval policy? (Choose three.)

  A. It allows approvers to review payments and decide whether or not to approve a payment.
  B. It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.
  C. It defines a list of approvers who review payments and make final payment decisions.
  D. It defines when to initiate the payment approval process.
  E. It determines which payments must go through the payment approval process.
  B. It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.
  C. It defines a list of approvers who review payments and make final payment decisions.
  D. It defines when to initiate the payment approval process.

• Question 50:

  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