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

• Question 121:

  Which two statements are true about the Invoice Validation process? (Choose two.)

  A. opens the relevant accounting period

  B. validates projectinformation

  C. updates supplier balances

  D. creates tax lines and distributions

  E. creates accounting entries in draft

  Correct Answer: BD

  Invoice validations Etc.

  References: https://docs.oracle.com/cloud/farel9/financialscs_gs/FAPPP/F1011878AN100C4.htm

• Question 122:

  You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid?

  A. Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero.

  B. Both the invoice and the credit memo are paid and a refund of $25 USD is created.

  C. Both the invoice and credit memo are included in the payment process request for a payment amount of $0 USD. The credit memo is partially paid with a remaining credit of $25 USD.

  D. Both the invoice and the credit memo are selected and the Payment Process Request requires attention.

  Correct Answer: C

  When you submit a "payment process request", you can enable the Apply credits up tozero 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 illustrate the impact of this option.

  Credit Amount Greater Than Invoice Amount

  Aninvoice for 200 USD and a credit memo for 225 USD are due for payment.

  The following tabledescribes 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 ZeroAmount" 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_9F438E13CC89BA0C E040D30A68816F77

• Question 123:

  An installment meets all of the selection criteria of a Payment Process Request but it still did not get selected for payment processing. Identify two reasons for this.

  A. The pay-through date is in aclosed Payables period.

  B. The pay-through date is in a future period.

  C. The invoices need revalidation.

  D. The invoice has not been accounted.

  E. The installment was manually removed.

  Correct Answer: CE

• Question 124:

  You have enabled Payment Approval for your payment process requests (PPR). At what stage of the PPR is the payment approval process automatically triggered?

  A. Review Proposed Payments

  B. Review Installments

  C. Create Payment Files

  D. Build Payments

  Correct Answer: A

  Reference: https://support.oracle.com/knowledge/Oracle%20Cloud/2614860_1.html

• Question 125:

  What is the invoice type of an unapproved, unmatched invoice that wascreated in the Supplier Portal?

  A. Standard Invoice

  B. Standard invoice request

  C. Credit Memo

  D. Supplier payment request E. iSupplier Invoice

  Correct Answer: B

  Standard invoice request: An invoice submitted without a purchase order by a supplierthrough Oracle Fusion Supplier Portal thatis pending review and approval by the appropriate persons within the deploying company.

  References:https://docs.oracle.com/cd/E37583_01/doc.1116/e22897/F431919AN100ED.ht m

• Question 126:

  You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?

  A. Needs Revalidation

  B. Not Validated

  C. Not Required

  D. Imported

  E. Validated

  Correct Answer: B

• Question 127:

  You have created an approval rule as follows:

  Rule 1: If the invoice amount > $1000, route it to User 1.

  Rule 2: If the invoice amount < $1000, auto approveit.

  Now, the user creates an invoice for $1000 and routes it for approval.

  What will happen?

  A. Invoice will be auto-approved.

  B. The workflow will fail once approval is initiated.

  C. The initiate option is greyed out for the invoice.

  D. Invoice will besent to User 1 for approval.

  Correct Answer: B

• Question 128:

  You want to route invoices to three different approvers at the same time and only one approver needs to approve the invoice. Which approval ruleset should you use?

  A. InvoiceApproversFYIParticipantInParallelMode

  B. InvoiceApproversSingleParticipantInParallelMode

  C. InvoiceApproversParallelParticipantInParallelMode

  D. Invoice Approvers

  Correct Answer: B

• Question 129:

  Which three options are available to filter data when you submit the Prepare Payables to Ledger Reconciliation report? (Choose three.)

  A. Ledger Set

  B. Supplier

  C. Balancing Segment Value

  D. Business Unit

  E. Natural Account

  F. Legal Entity

  Correct Answer: ACD

  Typically General Ledger users are secured by data access sets. Data access sets use primary balancing segment values to secure access to ledgers, ledger sets, and portions of ledgers. Payables users are secured by business units. For the Payables to General Ledger Reconciliation report: General Ledger users can see general ledger data for the balancingsegment values in their data access set. General Ledger users can also see the Payables or Oracle Fusion Subledger Accounting data for all business units linked to the ledger. Payables users can see the Payables and Subledger Accounting data for businessunits in their security definition. Payables users can also see general ledger data for all balancing segment values in the ledger. Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/ocuar/oracle-fusion- payablesreports.html#OCUAR444681

• Question 130:

  You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?

  A. Enter the invoice via a spreadsheet. Then, fromthe Manage Invoices page, query the invoice, validate it, create accounting, and then open general ledger's Manage Journals page and post the associated invoice journal entry.

  B. Enter the invoice in the Create Invoice page, choose the Validate option, andthen the Account and Post to Ledger option.

  C. Enter and post a manual journal entry directly into the general ledger.

  D. Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.

  Correct Answer: B