Oracle Oracle Financials Cloud 1Z0-1055-22 Questions & Answers

• Question 1:

  What is the recommendation when setting up Reconciliation Rule Sets?

  A. One to One rules should be sequenced below rules of other types.

  B. Many to Many rules should always be used last in the sequence.

  C. One to One rules should be sequenced above rules of other types.

  D. Many to Many rules should always be used first in the sequence.

  Correct Answer: C

• Question 2:

  Which statement is true about selecting a bank account on the Create Payment page?

  A. LE on the bank account should be different from the LE on the invoice.

  B. Bank account mustmatch the supplier's bank account.

  C. Users can pick any bank account as long as the bank account is tried to the business unit.

  D. There is no relationship between the business unit, bank, and LE. Users can pick any bank account that is setup in their system.

  E. LE on the bank account should be equal to LE on the invoice.

  Correct Answer: D

• Question 3:

  You are testing the Payables to General Ledger Reconciliation report at the ledger level for your UK Ledger,you have run and selected the extract for the report but the request returned the message no data to display.

  What is the reason for this?

  A. You did not specify the range of liability accounts to include in the extract.

  B. The reconciliation flag has not been enabled for your liability accounts.

  C. The financial category of Accounts Payable is not assigned to the liability accounts.

  D. You did not select the business units associated to the UK Ledger.

  Correct Answer: C

• Question 4:

  You have an invoice with a payment term that has the following settings:

  Day of Month = 15 Cut off Day = 11 Months Ahead = 0 Terms Date on Invoice = January 12th

  What will the resulting due date for the invoice installment be?

  A. March 15th

  B. January 15th

  C. April 15th

  D. February 15th

  Correct Answer: D

• Question 5:

  Your customer has implemented English as base language and French as a local language. The customer's bank needs the payment file to be sent to them in French. What is the relevant step to do this for preparing the payment template?

  A. Createyour template in English language, then upload it to Business Intelligence (BI) under the custom/ payment folder under the templates region with country locale.

  B. Create your template in the local language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with English locale.

  C. Create your template in the local language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region. Use English locale and generate the XLIFF file. Then upload the file back under the translated region.

  D. Create your template in English language, then upload it to Business Intelligence (BI) under the custom/payment folder, under the templates region. Use English locale and generate the XLIFF file. Then upload the file back under the translated region.

  Correct Answer: D

• Question 6:

  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

  Correct Answer: E

  Run taxes from all applicable tax regimes against a sampletransaction 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 notaffect 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 isnot what is expectedon live data.

  References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAFTT/F1006654AN226D 8.htm

• Question 7:

  You have a high volume ofinvoices 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 datesare 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 theInvoice Group field to group similar invoices into a batch.

  Correct Answer: D

  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/F1011878AN100C 4.htm

• Question 8:

  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), Checkoutput format of Zipped PDFs

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

  Correct Answer: A

• Question 9:

  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.

  Correct Answer: CE

• Question 10:

  You have two business units: Vision Operations andVision Services. How can you enable expense auditors to audit expense reports for specific business units?

  A. Assign the Expense Auditor as the owner of each business unit on the Manage Business Unit Set Assignments page.

  B. Assign the Expense Auditor jobrole to each auditor and associate the business unit to the role by using the Manage Data Access for Users page.

  C. Assign the Expense Auditor job role to each auditor and use segment value security rules to secure access to the business units.

  D. Assignthe Expense Auditor job role to each auditor and use a data access set to associate the business unit to the role.

  Correct Answer: B