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

Oracle 1Z0-1055-22 Online Questions & Answers

• Question 71:

  You want to customize the Payables Invoice Register template to only display invoices when the Supplier name is Company A. Supplier nameis a group that repeats on every page. Which is the correct way to customize the template?

  A. Insert the syntax
  B. Insert the syntax before the Supplier field and then enter the closing tag
  C. Insert the syntax before the Supplier field and then enter the closing tag
  D. Hard code Supplier Name "Company A" in the report template and only invoices for that supplier will be displayed.
  A. Insert the syntax

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  Explanation/Reference:

• Question 72:

  Identify three scenarios where you are not allowed to cancel an invoice. (Choosethree.)

  A. Prepayments were applied to the invoice.
  B. An accounting entry has been created for the invoice.
  C. The invoice is validated.
  D. The invoice is fully or partially paid.
  E. The invoice was adjusted by a credit or a debit memo.
  A. Prepayments were applied to the invoice.
  D. The invoice is fully or partially paid.
  E. The invoice was adjusted by a credit or a debit memo.

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  Explanation/Reference:

  Why can't I cancel an invoice?

  The invoice is:

  Additional reasons thatyou can't cancel an invoice are as follows:

  You can cancel any unapproved invoice, or an approved invoice that does not have anyeffective payments or posting holds.

  References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011878.ht m#FAPPP1011878

• Question 73:

  You are using the Payable'sDeferred Expense feature (also known as Multiperiod Accounting). You have entered an invoice for a three-month lease that is entered on Jan 10th. The total expense is $12,000 and it covers the rental period from Jan 1st to Mar 31st.

  Assuming that the rental expenses are split evenly per month and a monthly accounting calendar is used, what would the accounting entry be?

  A. On Jan 10th, Debit Prepaid Expense for 12,000 and Credit Liability 12,000
  B. On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000
  C. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000 and thenOn Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000
  D. On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for4,000On Jan 10th, Debit Rental Expense for 12,000 and Credit Cash for 12,000
  C. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000 and thenOn Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000

• Question 74:

  During an expense audit the auditor marks an expense item that is missing a receipt to be Short Paid. They choose to complete the audit and warn the user. Given that the Expense Report Audit Approval is set to After Manager Approval, what two are valid results of the auditor action? (Choose two.)

  A. New expense report containing disallowed expense items is immediately created.
  B. Approved part of the expense report is not eligible for expense reimbursement.
  C. The approved part of the expense report is eligible for expense reimbursement.
  D. New expense report containing disallowed expense items is not created until manager approves the short payment.
  A. New expense report containing disallowed expense items is immediately created.
  C. The approved part of the expense report is eligible for expense reimbursement.

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  Explanation/Reference:

• Question 75:

  You have 10 ledgers and 30 business units and want to leverage Preference Data Sets. What is the function of Reference Data Sets?

  A. allow you to secure data by business unit
  B. allow you to assign multiple business units to users in a shared service center
  C. allow you to maintain sets of related data in a Data Dictionary
  D. allow you to share reference data, such as payment terms,across multiple business units to avoid redundant setup
  D. allow you to share reference data, such as payment terms,across multiple business units to avoid redundant setup

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  Explanation/Reference:

  Reference Data Sets

  You begin this part of your implementation by creating and assigning reference data to sets. Make changes carefully as changes to a particular set affect all business units or application components using that set. You can assign a separate

  set to each business unit for the typeofobject that is being shared. For example, assign separate sets for payment terms, transaction types, and sales methods to your business units.

  Your enterprise can determine that certain aspects of your corporate policy can affect all business units. The remaining aspects are at the discretion of the business unit manager to implement. This allows your enterprise to balance autonomy

  and control for each business unit. For example, your enterprise holds business unit managers accountable for their profitand loss, but manages working capital requirements at a corporate level. In such a case, you can let managers define

  their own sales methods, but define payment terms centrally. In this example:

  Each business unit has its own reference data set for salesmethods. One central reference data set for payment terms is assigned to all business units.

  References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAIGL/FAIGL1493157.htm #FAIGL94314

• Question 76:

  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.
  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.

• Question 77:

  Which two are classified as Self-Billed invoices? (Choose two.)

  A. Customer Refunds initiated from Receivables
  B. Evaluated Receipt Settlement (ERS) Invoices
  C. Invoices created using Integrated Imaging
  D. Expense Reports transferred from Expenses
  E. Debit Memos created by the Return to Supplier feature
  F. Invoices entered through the Supplier Portal
  B. Evaluated Receipt Settlement (ERS) Invoices
  E. Debit Memos created by the Return to Supplier feature

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  Explanation/Reference:

• Question 78:

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

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  Explanation/Reference:

• Question 79:

  Which three types of payments can you make if you have access to Disbursement Process Management Duty? (Choose three.)

  A. Reimbursement of employee expense reports
  B. Employee advances
  C. Supplier payments
  D. Customer refunds
  E. Ad hoc payments
  A. Reimbursement of employee expense reports
  C. Supplier payments
  D. Customer refunds

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  Explanation/Reference:

• Question 80:

  An installment for $2,000 USD is due for payment on July 31, 2018. The installment has two discounts: thefirst discount date is June 15, 2018 for $150 USD and the second discount date is June 30, 2018 for $50 USD. You submit a Payment Process Request with the following criteria:

  Payment Date = June 20, 2018 Pay Through Date = July 30, 2018 Date Basis = Due Date

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

  A. The installment is not selected because the discount dates are before the Pay Through Date.
  B. The installment is selected and no discount is applied.
  C. The installment is not selected because the due date is after the Pay Through Date.
  D. The installment is selected and a discount of $50 USD is applied.
  E. The installment is selected and a discount of $150 USD is applied.
  C. The installment is not selected because the due date is after the Pay Through Date.

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  Explanation/Reference:

  References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.ht m#FAPPP1011879