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Oracle 1Z0-1055-21 Exam Syllabus Topics:
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NEW QUESTION 40
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
* Always Take Discount option is enabled
What will be the resulting status of the installment and discount?
- A. The installment is not selected because the first discount date is before the Pay Through Date.
- 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 and a discount of $50 USD (the second discount) is applied.
- E. The installment is selected but no discount is applied because the payment date is after the discount dates.
Answer: C
Explanation:
Explanation
Discount Taken Amount is 150 USD. Although the Payment Date is after the discount dates, the first discount is taken because the option Always take discount is enabled.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011879AN17393.htm
NEW QUESTION 41
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 job roles to each auditor.
- C. Assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles to each Expense Auditor.
- D. Assign the Expense Auditor as the owner of each business unit.
Answer: C
Explanation:
Explanation
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/F1005004AN1204B.ht
NEW QUESTION 42
You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?
- A. Not Validated
- B. Validated
- C. Not Required
- D. Needs Revalidation
- E. Imported
Answer: E
Explanation:
Explanation
After the import process builds the invoices, the invoices can be viewed, modified, and validated on the Manage Invoices page.
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_A149B7BD08207B6DE040D30A6881633
NEW QUESTION 43
When creating a check payment, from where is the payment document defaulted?
- A. Supplier
- B. Business Unit
- C. Bank
- D. Bank Account
- E. Legal Entity
Answer: D
Explanation:
Explanation
Create Check
This step shows how to create a check to pay the customer for theclaim. The customer will be paid with the designated amount in Oracle Payables.
Navigation: Actions > Pay in Full.
Notes:
Bank Account: Select BofA.
Document: Select Check.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e16295/T544851T544993.htm
NEW QUESTION 44
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, an end date, and the accrual account for the prepaid expenses in the invoice lines or distributions.
- B. You must provide a start date and an end date for the prepaid expenses in the invoice lines or distributions.
- C. You must provide the accrual account for the prepaid expenses in the invoice lines or distributions.
- D. You must provide a start date and the accrual account for the prepaid expenses in the invoice lines or distributions.
Answer: C
NEW QUESTION 45
You have three procurement business units, four requisition business units and five sold-to business units. For which will the supplier registration flows be deployed?
- A. five sold-to business units
- B. three procurement business units
- C. twelve business units per supplier
- D. one business unit per supplier
- E. four requisition business units
Answer: B
Explanation:
Explanation
A supplier is modeled as a global entity, meaning it is not created within a business unit or any other organizational context. A procurement business unit establishes a relationship with asupplier through the creation of a site which maintains internal controls for how procure to pay transactions are executed with the supplier. The other entities of the supplier profile capture mostly external information that is provided by the supplier, such as taxidentifiers, addresses, contact information, and so on.
References:https://docs.oracle.com/cd/E51367_01/procurementop_gs/OAPRC/F1007476AN106E5.htm
NEW QUESTION 46
A company has 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. 0
- B. 1
- C. 2
- D. 3
Answer: B
Explanation:
Explanation
You must set up a separate tax registration to represent each distinct registration requirement for a first party legal reporting unit.
NEW QUESTION 47
A Payables supervisor wants to apply a prepayment to an invoice.
Which combination of invoice and payment currencies allow the application of a prepayment to an invoice?
- A. Standard Invoice: Invoice Currency CAD, Payment Currency GBP
Prepayment: Invoice Currency USD, Payment Currency AUD - B. Standard Invoice: Invoice Currency USD, Payment Currency CAD
Prepayment: Invoice Currency CAD, Payment Currency CAD - C. Standard Invoice: Invoice Currency USD, Payment Currency GBP
Prepayment: Invoice Currency USD, Payment Currency AUD - D. Standard Invoice: Invoice Currency USD, Payment Currency USD
Prepayment: Invoice Currency CAD, Payment Currency CAD
Answer: C
Explanation:
Explanation
You can pay a prepayment in a currency that's different from the invoice currency. To apply that prepayment to an invoice, the invoice must have the same invoice currency as the invoice currency of the prepayment.
NEW QUESTION 48
What are the output formats supported for Electronic and Check format programs?
- A. Electronic output format of DATA (csv), Check output format of Zipped PDFs
- B. Electronic output format of PDF, Check output format of PDF
- C. Electronic output format of eText, Check output format of rtf
- D. Electronic output format of Text, Check output format of Text
- E. Electronic output format of XML, Check output format of rtf
Answer: C
Explanation:
Explanation
The eText template is used specifically for electronic data interchange (EDI) and electronic funds transfer(EFT).
References: https://docs.oracle.com/cd/E56614_01/common_op/OAEXT/F1203011AN1CABC.htm
NEW QUESTION 49
Your customer matches their invoices to a purchase order and have noticed that the payment terms are defaulting from the order. For some suppliers, they would like to use the payment terms from the supplier site.
How can the customer achieve this?
- A. Enter the payment terms in the Manage Invoice Options page so they default onto the invoice.
- B. Enter the payment terms in the Manage Payment Options page so they default onto the invoice.
- C. Enter the payment terms at the supplier site level so they default onto the invoice.
- D. Enter the payment terms at the Supplier level so they default onto the invoice.
- E. Manually override the payment terms that have defaulted from the purchase order for those suppliers.
Answer: E
NEW QUESTION 50
What is the result of voiding a payment?
- A. A bills payable payment was created but is not yet matured.
- B. A stop payment request has been initiated to the bank.
- C. The payment is reconciled to the bank statement.
- D. The payment is no longer valid.
Answer: D
NEW QUESTION 51
Which three reports are generated by the export setup data process? (Choose three.)
- A. Exported Business Object Report
- B. Setup Data Report
- C. Process Results Report
- D. Process Results Detail Listing Report
- E. Process Results Summary Report
Answer: B,C,E
NEW QUESTION 52
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 Dedicated Service Provider model
- B. Business Unit Security
- C. a Self-Service Service Provider Model
- D. a Dedicated and Self-Service Service Provider Model
Answer: B
NEW QUESTION 53
A Payables user creates a manual invoice and a Withholding Tax Classification Code defaults on the invoice line when the invoice is saved.
Where does this Withholding Tax Classification Code default from?
- A. From the Site Assignments of the Supplier Site
- B. From the Income Tax region of the Supplier
- C. From the Party Tax Profile of the Third Party Site
- D. From the Manage Tax Reporting and Withholding Tax Options
Answer: D
Explanation:
Explanation
Set withholding tax options on the Manage Tax Reporting and Withholding Tax Options page and on the supplier setup.
NEW QUESTION 54
Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?
- A. Payables Aging reports with the General Ledger Trial Balance report
- B. General Ledger Financial Statements and the Accounts Payable and Invoice Registers
- C. Payables to Ledger Reconciliation report
- D. Payables Trial Balance and General Ledger Trial Balance reports
Answer: D
Explanation:
Explanation
Payables Trial Balance Report lists and subtotals by supplier and liability account all unpaid and partially paid invoices thatPayables transferred to the general ledger. Accounts Payable Trial Balance Report helps to verify that total accounts payable liabilities in Payables equal to those in the Fusion General Ledger.
References:
http://apps2fusion.com/oracle-fusion-online-training/fusion-applications/oracle-fusion-financials/fusion-financia rate-trial-balance-report
NEW QUESTION 55
Your company policy requires that receipts be attached to expense report items before reimbursement can be made.
Which two statements are true about the association of a receipt to an expense report? (Choose two.)
- A. Receipts are not required if the expense item falls within Per Diem Rates.
- B. Expenses do not create payment requests for expense reports that have missing or overdue receipts.
- C. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.
- D. An expense report may require original, imaged, or both types of receipts.
Answer: B,D
Explanation:
Explanation
Your company periodically schedules and runs the Generate Overdue and Missing Receipts Notification process that generates overdue receipt notifications.
If receipts are overdue and setup requires that the individual be notified, then Expenses automatically sends a notification to the individual to inform him that receipts are overdue.
An expense report may require original, imaged, or both types of receipts.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.htm
NEW QUESTION 56
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