Free 1z0-1055-22 Exam Braindumps - New 2023 Oracle Pratice Exam
Practice Test for 1z0-1055-22 Certification Real 2023 Mock Exam
The exam consists of 60 multiple-choice questions that must be completed within 105 minutes. The questions are designed to test the candidate's knowledge of Oracle Financials Cloud: Payables 2022, and the passing score for the exam is 63%. The exam is available in several languages, including English, Japanese, and Simplified Chinese.
The Oracle 1z0-1055-22 certification exam is designed for professionals who want to showcase their expertise in implementing Oracle Financials Cloud Payables 2022. The exam measures the candidate's ability to perform tasks related to the setup, configuration, and management of financial processes such as invoices, payments, and accounting. It also tests the candidate's knowledge of best practices and industry standards for financial management.
NEW QUESTION # 10
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 validation failure handling for documents to "show errors."
- B. Set the validation failure handling for payments to "show errors."
- C. Enable debug for the payment format program.
- D. Set the validation failure handling for payments to "stop process for review."
Answer: D
NEW QUESTION # 11
Which two are true for Payables Payment Terms? (Choose two.)
- A. When entering an Invoice, you will see Payment Terms assigned to the reference data set associated with the Business unit on the invoice but not those associated with the common set.
- B. You must assign the predefined payment term Immediate to the reference data set that is assigned to the business unit before you can define common options for Payables and Procurement.
- C. Each payment term can only be assigned to one reference data set.
- D. When entering an Invoice, you will see Payment Terms assigned to the reference data set associated with the Business unit on the invoice plus those associated with the common set.
Answer: B,D
Explanation:
Assigning a reference data set to a business unit: When you define a business unit, assign the business unit a reference data set for the Payables Payment Terms reference group.
Before you define common options for Payables and Procurement, you must assign the Immediate payment term to the reference data set for the business unit.
NEW QUESTION # 12
An installment meets all the selection criteria of a Payment Process Request, but it still does not get selected for payment processing.
What are the two possible reasons for this? (Choose two.)
- A. The pay-through date is in a future period.
- B. The invoice needs re-validation.
- C. The invoice has not been accounted.
- D. The invoice requires approval.
- E. The pay-through date is in a closed Payables period.
Answer: B,D
NEW QUESTION # 13
You need to have your invoice line automatically distributed across multiple cost centers. For example, you want your monthly utility bill allocated across multiple cost centers based on a percentage.
Which two are valid methods to achieve this? (Choose two.)
- A. Define a distribution set and assign it to the supplier.
- B. Choose the 'All Lines' option from the Allocate menu in the invoice line area.
- C. Define a payment term and assign it to the invoice.
- D. Define a distribution set and assign it manually to the invoice.
Answer: C,D
NEW QUESTION # 14
You need to have an invoice line automatically distributed across multiple cost centers. For example, you want your monthly utility bill allocated across multiple cost centers based on a percentage.
Select two methods to achieve this. (Choose two.)
- A. Configure Subledger Accounting rules to allocate costs.
- B. Define a distribution set and assign it to the supplier.
- C. Choose the 'All Lines' option from the Allocate menu in the invoice line area.
- D. Define a distribution set and assign it manually to the invoice.
Answer: A,D
Explanation:
A: Account Rules by Segment
Define segment rules to derive a specific segment of the general ledger account. For example, a particular segment like the company segment can be determined from the distribution account. Another segment can be determined with the use of a constant value. Creating the account one segment at a time offers greater flexibility, but also requires more setup.
C: You can use a Distribution Set to automatically enter distributions foran invoice when you are not matching it to a purchase order. For example, you can create for an advertising supplier a Distribution Set that allocates advertising expense on an invoice to four advertising departments.
References:https://docs.oracle.com/cd/A60725_05/html/comnls/us/ap/distsets.htm
NEW QUESTION # 15
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 Dedicated and Self-Service Service Provider Model
- D. a Self-Service Service Provider Model
Answer: B
NEW QUESTION # 16
XYZ Supplier has third party relationships defined with ABC Supplier and ACME Corporation. However, when reviewing the invoice installments for XYZ Supplier the payables specialist is unable to override the remit-to supplier name and address on the Invoice installments.
What is the reason for this?
- A. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Disbursement System Options page for the business unit.
- B. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Invoice Options page for the business unit.
- C. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Payment Options page for the business unit.
- D. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Common Options for Payables and Procurement page for the business unit.
Answer: B
NEW QUESTION # 17
Your client wants the subledger journal entry description to be transferred to general ledger.
Which two could be used to enable this? (Choose two.)
- A. Set the General Ledger Journal Entry Summarization option to Summarize by general ledger period
- B. Set the General Ledger Journal Entry Summarization option to Group by general ledger period
- C. Set the General Ledger Journal Entry Summarization option to Group by general ledger date
- D. Set the General Ledger Journal Entry Summarization option to Summarize by general ledger date
Answer: A,D
NEW QUESTION # 18
Which three reports are generated by the export setup data process? (Choose three.)
- A. Process Results Report
- B. Process Results Detail Listing Report
- C. Process Results Summary Report
- D. Exported Business Object Report
- E. Setup Data Report
Answer: A,C,E
NEW QUESTION # 19
You have a high volume of invoices to enter that have similar lines and do not require extensive validation. What must you do if you want to group multiple invoices in a batch during spreadsheet entry?
- A. Make sure all the invoice dates are the same.
- B. Make sure the Invoice Number is the same.
- C. Assign the same Invoice Header Identifier to multiple invoices you want to group.
- D. Enter a value in the Invoice Group field to group similar invoices into a batch.
- E. Enable the invoice option Require Invoice Grouping, and the system automatically groups invoices entered in the same spreadsheet.
Answer: E
Explanation:
What's an invoice group?
A collection of invoices that is used as a parameter for the Validate Payables Invoice process, a selection criteria for submitting a payment process request, and a parameter in some reports. If you enable the invoice option Require invoice grouping, you must associate each invoice with an invoice group.
References:https://docs.oracle.com/cloud/farel9/financialscs_gs/FAPPP/F1011878AN100C4.htm
NEW QUESTION # 20
You entered an invoice of 12,000 and paid it for Office Suppliers. The payment was never received by the supplier, and you decide to return the entire order. What should you do?
- A. Cancel the invoice, which debits the liability and credits the expense.
- B. Void the payment, which debits cash and credits the liability, and then cancel the invoice, which debits the liability and credits the expense.
- C. Void the payment, which debits cash and credits the liability, and then issue a credit memo, which debits the liability and credits the expense.
- D. Issue a credit memo, which will debit the liability and credit the expense.
Answer: B
NEW QUESTION # 21
Which data is visible to a Payables user in the Payables to General Ledger Reconciliation report?
- A. Data for all business units and all balancing segments in the ledger
- B. Data for all business units and one balancing segment in the ledger
- C. Data for authorized business units only; no GL data is visible
- D. Data for authorized business units and GL data for all balancing segments in the ledger (unless restricted)
Answer: B
Explanation:
Payables users can also see general ledger data for all balancing segment values in the ledger.
NEW QUESTION # 22
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. Manually override the payment terms that have defaulted from the purchase order for those suppliers.
- B. Enter the payment terms at the Supplier level 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 in the Manage Invoice Options page so they default onto the invoice.
- E. Enter the payment terms in the Manage Payment Options page so they default onto the invoice.
Answer: A
NEW QUESTION # 23
You are resolving payment validation errors during the payment build process. Which two actions can you perform to resolve these errors?
- A. Run the create accounting program.
- B. Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.
- C. Terminate the payment process request.
- D. Run the invoice validation program.
- E. Remove the documents or payments causing the error and resume the payment process.
Answer: B,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 # 24
Which two statements are true about processing corporate card expenses? (Choose two.)
- A. You can process payment for credit card using Electronic funds transfer, check, or wire.
- B. Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses.
- C. Card transactions will be paid directly from Expenses Cloud.
- D. Conversion rate defaults apply only to cash expenses, not to corporate card expenses.
- E. Usage policy for expense category tolerances does not apply to credit card expenses.
Answer: D,E
Explanation:
Conversion rate behavior applies only to cash expenses, not to corporate card expenses.
To enable your company to pay a corporate card issuer, you enter a default payment method, whether check, EFT (Electronic funds transfer), or wire, in the Address Payment Information region of the Edit Corporate Card Issuer page, as well as bank account information.
References:
https://docs.oracle.com/cloud/latest/financialscs_gs/FAIEX/FAIEX1456644.htm
https://docs.oracle.com/cd/E48434_01/fusionapps.1118/e49599/F1110434AN7B1F9.htm
NEW QUESTION # 25
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The Oracle 1z0-1055-22 exam is a challenging exam that tests an individual's knowledge in implementing and configuring Oracle Financials Cloud Payables. The exam consists of multiple-choice questions, and the duration of the exam is 105 minutes. The exam is available in multiple languages, including English, Japanese, Korean, and Simplified Chinese. The exam has a passing score of 64% and is designed to validate an individual's skills in implementing and configuring Oracle Financials Cloud Payables.
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