A fully updated 2021 1z0-1055-20 Exam Dumps exam guide from training expert PrepAwayTest
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NEW QUESTION 20
When reviewing installments, what setup is required to override the supplier site on an invoice?
- A. Allow payee to override for third-party payments while Manage Invoice options.
- B. Allow the remit-to supplier address override for third-party payments at Manage Invoice options.
- C. Allow the remit-to supplier override for third-party payments at Manage Payment options.
- D. Allow the remit-to supplier override for third-party payments at Manage Invoice options.
Answer: B
Explanation:
Explanation
(Optional) Setting the Remit-to Supplier Override Option
References:https://docs.oracle.com/cloud/farel9/financialscs_gs/FAIPP/F1470346AN14ECB.htm
NEW QUESTION 21
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 and those that are not, are based on historical data.
- B. There is no difference.
- C. 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.
- D. The "Real Time" subject areas are based on subledger transactions and the ones that are not are based on general ledger balances.
Answer: C
Explanation:
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 22
A Payment Process Request was submitted and errors were found in the payment file. The payment file and process were terminated.
Which two statements are true? (Choose two.)
- A. The status of each payment in the payment file is Cancelled and the related documents are available for future selection.
- B. The status of the payment file is Cancelled.
- C. The status of each payment in the payment file is Terminated.
- D. The invoices are placed on payment hold.
- E. The status of the payment file is Terminated.
Answer: A,E
Explanation:
Explanation
If the payment file has been terminated and the documents payable have been returned to the source product, then the status of the Printed Payment File is Terminated.
Oracle Fusion Paymentsinforms the source product of the terminated documents payable. Then for each payment in the payment file, Payments sets the status to Canceled.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011879AN17393.htm
NEW QUESTION 23
Which three are supported image formats for the Integrated Imaging solution? (Choose three.)
- A. XLS
- B. JPEG
- C. TIFF
- D. RTF
- E. PNG
Answer: B,C,E
NEW QUESTION 24
How will system evaluate the tolerances for expense reports?
- A. System will use absolute amount tolerance setup to do validations.
- B. System will calculate error tolerance as (|Policy Rate * (1+Error Tolerance/100)|) currency precision.
- C. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100)*currency precision.
- D. System will calculate error tolerance as Policy Rate * (1+Warning Tolerance+ Error Tolerance/100).
- E. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100).
Answer: D
Explanation:
Explanation
Error: A percentage is used to calculate an error. The error tolerance amount is calculated as follows:
Policy Rate * (1+Error Tolerance/100)
References:https://docs.oracle.com/cd/E60665_01/financialscs_gs/FAIEX/F1456644AN125F2.htm
NEW QUESTION 25
Before you can configure payment approval rules, your company must define a payment approval policy.
Which three are done by the payment approval policy? (Choose three.)
- A. It defines a list of approvers who review payments and make final payment decisions.
- B. It allows approvers to review payments and decide whether or not to approve a payment.
- C. It determines which payments must go through the payment approval process.
- D. It defines when to initiate the payment approval process.
- E. It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.
Answer: A,D,E
NEW QUESTION 26
You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?
- A. Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.
- B. Enter and post a manual journal entry directly into the general ledger.
- C. Enter the invoice via a spreadsheet. Then, from the Manage Invoices page, query the invoice, validate it, create accounting, and then open general ledger's Manage Journals page and post the associated invoice journal entry.
- D. Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.
Answer: D
NEW QUESTION 27
You need to route invoices to three different approvers at the same time, and only one approver needs to approve the invoice.
Which approval ruleset should you use?
- A. FyiTypeParticipantInParallelModeRuleSet
- B. ParallelTypeParticipantInParallelModeRuleSet
- C. InvoiceApprovalRuleSet
- D. SingleTypeParticipantInParallelModeRuleSet
Answer: B
NEW QUESTION 28
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. Define a distribution set and assign it manually to the invoice.
- B. Define a distribution set and assign it to the supplier.
- C. Configure Subledger Accounting rules to allocate costs.
- D. Choose the 'All Lines' option from the Allocate menu in the invoice line area.
Answer: A,C
Explanation:
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 29
Your customer has requested a modification to the payment file to meet the acceptable bank standards. The changes were based on a format of a seeded payment process profile which is already in use. The only changes made are to the field positions. What two steps can make these changes work?
- A. Create a new template to make changes as requested by the bank.
- B. Create a newpayment process profile and a new format program.
- C. Copy and modify the existing template to alter the positions as requested by the bank.
- D. No change in the template is needed as we can achieve this using user-defined validations to move the positions as required.
- E. Keep the payment process profile and leave the format programs unchanged.
- F. Oracle Data Integrator or Golden Gate can be used to map the fields as required.
Answer: A,C
NEW QUESTION 30
An Office supplies company requires an advance payment of $8000 for the office supplies you wish to order.
You enter and pay a prepayment type invoice for $8000. You enter the standard invoice to book the expense which totals $10000 and you apply the prepayment to the standard invoice.
What are the accounting entries for that standard invoice with the prepayment application?
- A. Invoice accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.The prepayment application has no impact on the Invoice.
- B. Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability Account 2000 Cr Prepayment Account 2000.
- C. Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability 8000 Cr Prepayment Account 8000.
- D. Invoice Accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr Expense Account 8000 Cr Prepayment Account 8000.
Answer: A
NEW QUESTION 31
Which three are valid reasons why you cannot close your Payables period? (Choose three.)
- A. Unaccounted invoices and payments
- B. Incomplete payment files
- C. Suppliers on payment holds
- D. Bills payable requiring maturity
- E. Unapplied prepayments
Answer: B,C,E
NEW QUESTION 32
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. Ad hoc payments
- D. Customer refunds
- E. Supplier payments
Answer: A,D,E
NEW QUESTION 33
When submitting the Payables to General Ledger Reconciliation report, the extract did not select any data.
What should you check?
- A. Make sure you assigned a Financial Category of Accounts Payable to all your liability natural account values.
- B. Make sure you specified a Business Unit in the parameters when running the extract.
- C. Make sure you enabled the Reconciliation flag to all of your liability natural account values.
- D. Make sure you assign an Account parameter when running the extract to include liability accounts.
Answer: A
Explanation:
Explanation
You must assign a Financial Category of Accounts payable to all your liability natural account values. This is a required setup step for Payables to General Ledger reconciliation.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011880AN1B948.htmc
NEW QUESTION 34
You want your expense auditors to audit only expenses reports for specific business units. How do you do this?
- A. Create a custom duty role and assign the data roles to each auditor.
- B. Assign the auditors' specific data roles for the corresponding business units.
- C. Create your own audit extension rules that correspond to the business unit.
- D. Make auditors the managersof the corresponding business unit to route expense reports properly.
Answer: B
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 to audit 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.htm
NEW QUESTION 35
Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run? (Choose two.)
- A. Supplier site primary pay flag and customer account bill to primary flag should be enabled.
- B. Schedule create accounting for the intercompany process.
- C. Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables.
- D. For the Legal Jurisdiction, Legal function: "Generate intercompany invoice" should be assigned.
- E. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.
- F. Manual Approvals should be allowed for the transaction type.
Answer: A,C
Explanation:
Explanation
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAUGL/FAUGL1476872.htm
NEW QUESTION 36
You need to enter a high volume of users into the system. What is Oracle's recommendation to do this?
- A. Use the spreadsheet templates available in Oracle Enterprise Repository (OER) and then import users into Cloud Applications.
- B. use the spreadsheet of Oracle Identity Manager (OIM) to import users.
- C. Use the Enter a Supplier user interface and enter each user manually.
- D. Use the Hire an Employee user interface and enter each user manually.
Answer: A
Explanation:
Explanation
If you have batch of users that have to be created, the Oracle team can bulk load the users into the OIM Application.
References:http://docs.oracle.com/cd/E79623_01/rms/pdf/160C/html/admin_guide/tasks.htm
NEW QUESTION 37
What happens if a company runs the Payables Unaccounted Transactions Sweep program for February 2018 if the invoices with a Hold status have an invoice date of January 20, 2018?
- A. The accounting dates of all unaccounted invoices will be changed to February 1, 2018, the first day of the next period.
- B. The accounting dates of all unaccounted invoices will change to February 28, 2018, the last day of the next period.
- C. The accounting dates of all unaccounted invoices will remain unchanged at January 20, 2018.
- D. The accounting dates of all unaccounted invoices will be changed to February 20,2018, the same day of the next period.
Answer: A
Explanation:
Explanation
Run the Payables Unaccounted Transactions Sweep program to transfer unaccounted transactions from one accounting period to another. If your accounting practices permit it, use this program to change the accounting date of the transactions to the next open period.
The program transfers unaccounted transactions to the period you specify by updating the accounting dates to the first day of the new period.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011880AN1B948.htm
NEW QUESTION 38
Which reporting tool is used to report on real-time data?
- A. Oracle Transactional Business Intelligence (OTBI)
- B. Oracle Financial Reporting Studio
- C. Smart View
- D. Oracle Business Intelligence Publisher
- E. Essbase Cube
Answer: C
NEW QUESTION 39
After you submitted a Payment Process Request, you noticed errors. You want to void the payments. Identify two statements that indicate when it is not possible to void a payment. (Choose two.)
- A. A payment that has been accounted and posted to General Ledger.
- B. A payment that pays a prepayment that has been applied to an invoice.
- C. A payment that has already cleared the bank.
- D. A payment for an invoice with an associated Withholding Tax invoice.
- E. A payment with the status of Issued.
Answer: B,C
Explanation:
Explanation
A: You can't: Void a payment for aprepayment that's applied. You must first unapply the prepayment, then void the payment.
D: If the payment is cleared in cash management then it has to be uncleared first before you can void the payment.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm
NEW QUESTION 40
You are voiding a payment and have selected Cancel as the Invoice Action. After performing the void, you notice the invoice is not cancelled but has an Invoice Cancel hold on it.
What is reason for this?
- A. The invoice has been partially paid by another payment.
- B. The invoice is already on hold.
- C. The invoice accounting date is not in the current open period.
- D. The invoice date is not in the current open period.
Answer: A
NEW QUESTION 41
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