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

• Question 21:

  An installment for $1,000 USD is due for payment on January 10, 2019. The installment has two discounts: the first discount date is December 5, 2018 for $150 USD and the second discount date is December 20, 2018 for $50 USD. The Pay Date Basis on the supplier site is Discount.

  You submit a Payment Process Request with the following criteria:

  Payment Date = December 5, 2018 Pay Through Date = December 25, 2018 Date Basis = Pay Date AlwaysTake Discount option is enabled

  What will be the resulting status of the installment and discount?

  A. The installment is selected and a discount of $50 USD (the second discount) is applied.

  B. The installment is selected and a discount of $200 USD ($150+ $50) is applied.

  C. The installment is selected and a discount of $150 USD is applied because the Always Take Discount option was enabled.

  D. The installment is selected but no discount is applied because the payment date is after the discount dates.

  E. The installment is not selected because the first discount date is before the Pay Through Date.

  Correct Answer: C

  Discount Taken Amount is 150 USD. Although the Payment Date is after the discount dates, the first discount is taken because the optionAlways take discount is enabled.

  References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011879AN1739 3.htm

• Question 22:

  In the Business Intelligence Publisher (BIP) report layout properties page, when you click Extract Translation, the BIP publisher extracts the translatable strings from the BIP report template and exports them into which format?

  A. .doc (Word file)

  B. .pdf (Acrobat reader file)

  C. .xls (Excel file)

  D. .xlf (XLIFF file)

  Correct Answer: D

  BI Publisher extracts the translatable strings from the template and exports them to an XLIFF (.xlf file). Reference:https://docs.oracle.com/cd/E29542_01/bi.1111/e22255/translations.htm#BIPAD

• Question 23:

  What is the name of the Work Area that is used to access Functional Setup Manager?

  A. Functional Work Area

  B. Functional Setup Manager

  C. Customization Manager

  D. Setup and Maintenance

  E. Customize Setup and Maintenance

  Correct Answer: D

  All Oracle Functional Setup Manager functionality is available from the Setup and Maintenance work area. References:https://docs.oracle.com/cloud/latest/financialscs_gs/FACSF/FACSF1004385.ht m

• Question 24:

  In what order should theimport process be run when importing suppliers?

  A. Supplier, Supplier Site Contacts, Supplier Site, Supplier Site Assignment

  B. Supplier, Supplier Address, Supplier Site, Supplier Site Assignments

  C. Supplier, Supplier Site Assignment, Supplier Site, Supplier Contacts

  D. any order

  Correct Answer: B

  The following programs are used to import supplier information:

  When importing supplier records containing data in each table, then Suppliers must be run first, followed by the Supplier Sites import process. Once the data is inserted, the following concurrent processes must be run to create the information in Oracle Fusion Suppliers.

  Suppliers Import Process Supplier Sites Import Process Supplier Site Contacts Import Process Supplier Site Assignments Process

  References:https://docs.oracle.com/cd/E56614_01/procurementop_gs/OAPRC/F1007476A N1079E.htm

• Question 25:

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

  A. Use segment valuesecurity rules to secure access to business units.

  B. Assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles to each Expense Auditor.

  C. Assign the Expense Auditor as the owner of each business unit.

  D. Assign theExpense Auditor job roles to each auditor.

  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 toaudit 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/F1005004AN120 4B.ht

• Question 26:

  Which statementis 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.

  Correct Answer: C

• Question 27:

  The payment build program has completed but with errors.

  When submitting the payment process request, which processing option is used to review the error messages from the Manage Payment Process Request Inquiry?

  A. Set the validationfailure handling for documents to "show errors."

  B. Set the validation failure handling for payments to "stop process for review."

  C. Set the validation failure handling for payments to "show errors."

  D. Enable debug for the payment format program.

  Correct Answer: B

• Question 28:

  A companyhas three legal entities each with a corresponding business unit all within the same country. All organizations buy and sell the same products. You are configuring the tax setup.

  What is the minimum number of Tax Regimes you need to configure for this company?

  A. 2

  B. 6

  C. 1

  D. 3

  Correct Answer: D

  You must set up a separate tax registration to represent each distinct registration requirement for a first party legal reporting unit. Reference:https://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20375/ F527690AN1A A76.htm

• Question 29:

  Your client company has two business units and requires the Payables Specialist to process invoice transactions for both business units.

  What setup is required to achieve this?

  A. a Self-Service Service Provider Model

  B. a Dedicated Service Provider model

  C. Business UnitSecurity

  D. a Dedicated and Self-Service Service Provider Model

  Correct Answer: C

• Question 30:

  What does the Place of Supply rule value "Bill to Party" imply in an Oracle Payables Invoice?

  A. Location assigned to the Supplier Party Site for the transactions

  B. Location assigned to the Legal Entity for the transactions

  C. Location assigned to the Legal Entity Reporting Unit for the transactions

  D. Locationassigned to the Business Unit for the transactions

  Correct Answer: D