Oracle 1Z0-1055-22 Online Practice Questions and Exam Preparation

Oracle 1Z0-1055-22 Online Questions & Answers

• Question 91:

  A company has a requirement to pay small suppliers outside ofPayables, 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.
  D. Create a payment by using a wire payment method for those suppliers.

  ---

  Explanation/Reference:

  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 92:

  Which reporting tool is used to report on real-time data?

  A. Essbase Cube
  B. Smart View
  C. Oracle Business Intelligence Publisher
  D. Oracle FinancialReporting Studio
  E. Oracle Transactional Business Intelligence (OTBI)
  E. Oracle Transactional Business Intelligence (OTBI)

• Question 93:

  Which three are subject area subfolders that report Payables reconciliation differences to General Ledger? (Choose three.)

  A. Reconciliation Payment Details
  B. Reconciliation Prepayment Application Details
  C. Reconciliation Invoice Details
  D. Reconciliation Invoice Hold Details
  E. Reconciliation Invoice Request Details
  A. Reconciliation Payment Details
  B. Reconciliation Prepayment Application Details
  C. Reconciliation Invoice Details

• Question 94:

  An Office supplies company requires an advance payment of $8000 for the office supplies you wish to order. You enter and pay a prepayment type invoice for $8000. You enter the standard invoice to book the expense which totals $10000and you apply the prepayment to the standard invoice.

  What are the accounting entries for that standard invoice with the prepayment application?

  A. Invoice accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.The prepayment application has no impact on the Invoice.
  B. Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability 8000 Cr Prepayment Account 8000.
  C. Invoice Accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr Expense Account 8000 Cr Prepayment Account 8000.
  D. Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability Account 2000 Cr Prepayment Account 2000.
  A. Invoice accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.The prepayment application has no impact on the Invoice.

• Question 95:

  You have an invoice for a three-month lease and wish to recognize the expense monthly for the duration of the lease. What must be entered on the invoice in order to do this?

  A. You must provide a start date and an end date for the prepaid expenses in the invoice lines or distributions.
  B. You must provide a start date, an end date, and the accrual account for the prepaid expenses in theinvoice lines or distributions.
  C. You must provide a start date and the accrual account for the prepaid expenses in the invoice lines or distributions.
  D. You must provide the accrual account for the prepaid expenses in the invoice lines or distributions.
  D. You must provide the accrual account for the prepaid expenses in the invoice lines or distributions.

• Question 96:

  Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run? (Choose two.)

  A. For the Legal Jurisdiction, Legal function: "Generate intercompany invoice" should be assigned.
  B. Schedule create accounting for the intercompany process.
  C. Supplier site primary pay flagand customer account bill to primary flag should be enabled.
  D. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.
  E. Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables.
  F. Manual Approvals should be allowed for the transaction type.
  C. Supplier site primary pay flagand customer account bill to primary flag should be enabled.
  E. Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables.

  ---

  Explanation/Reference:

  References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAUGL/FAUGL1476872.ht m

• Question 97:

  Which component is not included in the security architecture for creditcard 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 98:

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

  ---

  Explanation/Reference:

  https://docs.oracle.com/cd/E21764_01/bi.1111/e13881/T421739T481436.htm

• Question 99:

  You are using both Procurement and Financials. You want the system to automatically accrue uninvoiced receipts. Select two true statements. (Choose two.)

  A. For period end accruals, accounting is created at material receipt or at delivery to a final destination.
  B. For period end accruals, the invoice accounting debits the expense account and credits the liability account.
  C. For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account.
  D. For period end accruals, the invoice accounting for inventory items debits receipt inventory and credits the uninvoiced receipts.
  B. For period end accruals, the invoice accounting debits the expense account and credits the liability account.
  C. For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account.

• Question 100:

  Which two statements are true about processing corporate card expenses? (Choose two.)

  A. Conversion rate defaults apply only to cashexpenses, not to corporate card expenses.
  B. Usage policy for expense category tolerances does not apply to credit card expenses.
  C. Card transactions will be paid directly from Expenses Cloud.
  D. You can process payment for credit card using Electronic funds transfer, check, or wire.
  E. Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses.
  A. Conversion rate defaults apply only to cashexpenses, not to corporate card expenses.
  B. Usage policy for expense category tolerances does not apply to credit card expenses.

  ---

  Explanation/Reference:

  Conversion rate behavior applies only to cash expenses, not to corporate card expenses.

  To enable your company to pay a corporate card issuer, you enter a default payment method, whether check, EFT (Electronic funds transfer), or wire, in the Address Payment Information region of the Edit Corporate Card Issuer page, as well

  as bank account information.

  References:

  https://docs.oracle.com/cloud/latest/financialscs_gs/FAIEX/FAIEX1456644.htm https://docs.oracle.com/cd/E48434_01/fusionapps.1118/e49599/F1110434AN7B1F9.htm