2023 Valid 1z0-1055-22 Real Exam Questions, practice Oracle Financials Cloud
Latest Success Metrics For Actual 1z0-1055-22 Exam (Updated 142 Questions)
Oracle 1z0-1055-22 Exam Syllabus Topics:
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NEW QUESTION 18
Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?
- A. The payment term of the purchase order overrides the invoice payment term.
- B. The payment term of the invoice overrides the purchase order payment term.
- C. The user needs to specify which payment term to use.
- D. The user needs to manually change the payment term on the invoice to match the purchase order payment term.
- E. The purchase order payment term cannot be overridden.
Answer: B
NEW QUESTION 19
What is the difference between subject areas that append the word "Real Time" and those that do not?
- A. The "Real Time" subject areas are based on real-time transactions in the applications, and those that are not, are based on data stored in the Oracle Business Intelligence Applications data warehouse.
- B. The "Real Time" subject areas are based on subledger transactions and the ones that are not are based on general ledger balances.
- C. The "Real Time" subject areas are based on real-time transactions and those that are not, are based on historical data.
- D. There is no difference.
Answer: A
Explanation:
In Oracle Fusion applications, there are two types of subject areas:
Subject areas whose names usually end with Real Time and access real-time (transactional) data.
Subject areas whose names usually do notend with Real Time and access data warehouse data.
References: https://docs.oracle.com/cloud/farel8/common/OATBI/postinstallation.htm
NEW QUESTION 20
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 USD, Payment Currency CAD
Prepayment: Invoice Currency CAD, Payment Currency CAD - B. Standard Invoice: Invoice Currency USD, Payment Currency USD
Prepayment: Invoice Currency CAD, Payment Currency CAD - C. Standard Invoice: Invoice Currency CAD, Payment Currency GBP
Prepayment: Invoice Currency USD, Payment Currency AUD - D. Standard Invoice: Invoice Currency USD, Payment Currency GBP
Prepayment: Invoice Currency USD, Payment Currency AUD
Answer: D
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 21
Which data is visible to a Payables user in the Payables to General Ledger Reconciliation report?
- A. Data for authorized business units and GL data for all balancing segments in the ledger (unless restricted)
- B. Data for all business units and all balancing segments in the ledger
- C. Data for all business units and one balancing segment in the ledger
- D. Data for authorized business units only; no GL data is visible
Answer: C
Explanation:
Payables users can also see general ledger data for all balancing segment values in the ledger.
NEW QUESTION 22
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:
You must set up a separate tax registration to represent each distinct registration requirement for a first party legal reporting unit.
NEW QUESTION 23
The expense auditor has chosen to Request More Information for an expense report. Select two ways the system processes this action. (Choose two.)
- A. The expense report is routed back to the approvers.
- B. The expense report status remains Pending Payables Approval.
- C. The employee must resubmit the expense report.
- D. The audit can be completed before the requested information is received from the employee.
Answer: A,B
Explanation:
To request more information for an expense report, select the Request More Information option from the Actions menu in theheader of the Audit Expense Report page. The employee receives a notification that includes the reason for the request, specific instructions, and any additional instructions from you. Selecting the Request More Information action results in the following:
References:https://docs.oracle.com/cd/E60665_01/financialscs_gs/FAWDE.pdf
NEW QUESTION 24
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 approve it.
Now, the user creates an invoice for $1000 and routes it for approval.
What will happen?
- A. Invoice will be sent to User 1 for approval.
- B. Invoice will be auto-approved.
- C. The workflow will fail once approval is initiated.
- D. The initiate option is greyed out for the invoice.
Answer: C
NEW QUESTION 25
You are resolving payment validation errors during the payment build process. Which two actions can you perform to resolve these errors?
- A. Terminate the payment process request.
- B. Run the create accounting program.
- C. Run the invoice validation program.
- D. Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.
- E. Remove the documents or payments causing the error and resume the payment process.
Answer: D,E
Explanation:
Using the Resolve Document Validation Errors Page, you may review the errors and takeaction. You may fix related data, such as third party payee information, and submit the documents for revalidation. You may also remove documents from the Payment Process Request, which sends the documents back to the source product with the validation failure reason, just as rejection does.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e13415/T456136T484670.htm
NEW QUESTION 26
A Bill Payable document was paid but has not yet matured.
What is the status of the payment?
- A. Cleared
- B. Negotiable
- C. In Transit
- D. Issued
Answer: D
NEW QUESTION 27
Identify three statements that indicate the purpose of Functional Setup Manager.
- A. It allows you to centrally manage the close processes across subledgers and ledgers.
- B. it allows you to assign setup tasks to individuals with due dates where users must manually update their completion status.
- C. It automatically marks the completion status of tasks as Completed once they have been completed.
- D. It provides a central place to access and perform all of the setup steps across the applications.
- E. It automatically generates lists of setup tasks in the correct sequence with dependencies highlighted.
Answer: C,D,E
Explanation:
With Oracle Fusion Functional Setup Manager you can:
References:https://docs.oracle.com/cd/E56614_01/common_op/OAFSM/F1166427AN1007E.htm
NEW QUESTION 28
You need to create a recurring expense for one of your regular expenses.
Which three are frequencies that you can choose for these types of expenses? (Choose three.)
- A. Biweekly
- B. Bimonthly
- C. Weekly
- D. Annually
- E. Monthly
Answer: A,C,E
NEW QUESTION 29
Which three are supported image formats for the Integrated Imaging solution? (Choose three.)
- A. XLS
- B. PNG
- C. JPEG
- D. TIFF
- E. RTF
Answer: B,C,D
NEW QUESTION 30
An installment for $2,000 USD is due for payment on July 31, 2018. The installment has two discounts: the first 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 selected and no discount is applied.
- B. The installment is not selected because the due date is after the Pay Through Date.
- C. The installment is selected and a discount of $150 USD is applied.
- D. The installment is not selected because the discount dates are before the Pay Through Date.
- E. The installment is selected and a discount of $50 USD is applied.
Answer: B
Explanation:
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm#FAPPP1011879
NEW QUESTION 31
Which three options are available to filter data when you submit the Prepare Payables to Ledger Reconciliation report? (Choose three.)
- A. Balancing Segment Value
- B. Supplier
- C. Legal Entity
- D. Ledger Set
- E. Natural Account
- F. Business Unit
Answer: A,D,F
Explanation:
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 balancing segment 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 business units in their security definition. Payables users can also see general ledger data for all balancing segment values in the ledger.
NEW QUESTION 32
When reviewing installments, what setup is required to override the supplier site on an invoice?
- A. Allow the remit-to supplier override for third-party payments at Manage Invoice options.
- B. Allow payee to override for third-party payments while Manage Invoice options.
- C. Allow the remit-to supplier override for third-party payments at Manage Payment options.
- D. Allow the remit-to supplier address override for third-party payments at Manage Invoice options.
Answer: D
Explanation:
(Optional) Setting the Remit-to Supplier Override Option
References:https://docs.oracle.com/cloud/farel9/financialscs_gs/FAIPP/F1470346AN14ECB.htm
NEW QUESTION 33
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. 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.
- B. 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.
- C. Create your template in English language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with country locale.
- D. 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.
Answer: B
NEW QUESTION 34
While processing an expense report, the system placed a payment hold on the expense report. What are two ways to release payment holds? (Choose two.)
- A. Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived.
- B. Payables Manager can release payment holds in Payables.
- C. The expense auditor can manually release the payment hold at his discretion.
- D. The employee can manually release the hold.
- E. The employee's supervisor can manually release the hold.
Answer: A,C
Explanation:
Payment holds are released in the following ways:
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.htm
NEW QUESTION 35
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