[Sep 01, 2023] Oracle 1z0-1055-22 Real Exam Questions and Answers FREE
Pass Oracle 1z0-1055-22 Exam Info and Free Practice Test
The Oracle 1z0-1055-22 exam comprises 60 questions that need to be answered within two hours. The questions are multiple-choice and require a score of 68% or higher to pass the exam. 1z0-1055-22 exam focuses on topics such as configuring supplier management, processing invoices, implementing payment processes, and configuring expense management.
NEW QUESTION # 20
What is the invoice type of an unapproved, unmatched invoice that was created in the Supplier Portal?
- A. Supplier payment request
- B. iSupplier Invoice
- C. Standard invoice request
- D. Credit Memo
- E. Standard Invoice
Answer: C
Explanation:
Standard invoice request: An invoice submitted without a purchase order by a supplier through Oracle Fusion Supplier Portal thatis pending review and approval by the appropriate persons within the deploying company.
References:https://docs.oracle.com/cd/E37583_01/doc.1116/e22897/F431919AN100ED.htm
NEW QUESTION # 21
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. Oracle Data Integrator or Golden Gate can be used to map the fields as required.
- B. Create a new template to make changes as requested by the bank.
- C. Copy and modify the existing template to alter the positions as requested by the bank.
- D. Create a newpayment process profile and a new format program.
- E. Keep the payment process profile and leave the format programs unchanged.
- F. No change in the template is needed as we can achieve this using user-defined validations to move the positions as required.
Answer: B,C
NEW QUESTION # 22
Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?
- A. Payables Trial Balance and General Ledger Trial Balance reports
- B. Payables to Ledger Reconciliation report
- C. Payables Aging reports with the General Ledger Trial Balance report
- D. General Ledger Financial Statements and the Accounts Payable and Invoice Registers
Answer: A
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-financials-training/1131-fusion-payables-how-to-generate-trial-balance-report
NEW QUESTION # 23
A company has a requirement to default the disbursement bank account when submitting a Payment Process Request.
Which actions will accomplish this? (Choose two.)
- A. Define the Disbursement Bank Account to the Payment Method in payment default rules.
- B. Define the Disbursement Bank Account to every supplier.
- C. Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account.
- D. Create a Payment Process Request template that includes the Disbursement Bank Account.
- E. Assign the Disbursement Bank Account to users to have the payment process default the bank account.
Answer: D,E
Explanation:
D: You can assign thedisbursement bank account and the payment process profile to all documents payable in the payment process request during the Submit Payment Process Request process. If you use a payment process request template, a disbursement bank account and a payment process profile default from the template.
DE:The following options affect payment processing:
References:https://docs.oracle.com/cd/E37017_01/doc.1115/e22897/F438410AN16238.htm
NEW QUESTION # 24
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 Common Options for Payables and Procurement page for the business unit.
- C. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Invoice Options page for the business unit.
- D. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Payment Options page for the business unit.
Answer: C
NEW QUESTION # 25
Which invoice types can be included in the Create Payment flow?
- A. Standard, Credit Memo and Customer Refund
- B. Standard, Debit Memo and Customer Refund
- C. Standard, Credit Memo, and Invoice Request
- D. Standard, Credit Memo and Debit Memo
Answer: D
NEW QUESTION # 26
You want your expense auditors to audit only expense reports for specific business units. How do you do this?
- A. Assign the expense auditors job role and business unit security context and value to the user.
- B. Make auditors the managers of the corresponding business unit to route expense reports properly.
- C. Create a custom duty role and assign the data roles to each auditor.
- D. Create your own audit extension rules that correspond to the business unit.
Answer: A
NEW QUESTION # 27
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 Prepayment Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr Expense Account 8000 Cr Prepayment Account 8000.
- D. Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability 8000 Cr Prepayment Account 8000.
Answer: A
NEW QUESTION # 28
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 defines when to initiate the payment approval process.
- C. It determines which payments must go through the payment approval process.
- D. It allows approvers to review payments and decide whether or not to approve a payment.
- E. It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.
Answer: A,B,E
NEW QUESTION # 29
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 a start date and the accrual account for the prepaid expenses in the invoice lines or distributions.
- D. You must provide the accrual account for the prepaid expenses in the invoice lines or distributions.
Answer: D
NEW QUESTION # 30
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 date
- 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 Summarize by general ledger period
- D. Set the General Ledger Journal Entry Summarization option to Group by general ledger date
Answer: A,C
NEW QUESTION # 31
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: A
Explanation:
You must set up a separate tax registration to represent each distinct registration requirement for a first party legal reporting unit.
NEW QUESTION # 32
Your client wants to retrieve values for the account code based on the invoice line description. For example, Invoice Line Description = Laptop then Account Code = 5670.
Which Subledger Accounting option would you use to achieve this?
- A. Event Class Settings
- B. Supporting References
- C. Mapping Set
- D. Description Rule
- E. Transaction References
Answer: D
Explanation:
If you're matching to a purchase order and don't enter a value, the import process uses the item description from the purchase order line.
NEW QUESTION # 33
Which dashboard or workarea displays the Scanned Invoices region for invoices processed through the Payables Integrated Imaging solution?
- A. C-level executives
- B. Invoices Workarea only
- C. Payables Dashboard only
- D. Payables Dashboard and Invoices Workarea
- E. Manage Invoices page
Answer: B
Explanation:
Accounts payable specialists can view the list of scanned images for invoice entry, along with the additional routing attributes, in the Scanned Invoices region of the Invoices work area.
References:http://docs.oracle.com/cd/E36909_01/fusionapps.1111/e20375/F569958AN60E65.htm
NEW QUESTION # 34
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 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 CAD, 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: A
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 # 35
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. The initiate option is greyed out for the invoice.
- B. The workflow will fail once approval is initiated.
- C. Invoice will be auto-approved.
- D. Invoice will be sent to User 1 for approval.
Answer: B
NEW QUESTION # 36
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 Text, Check output format of Text
- C. Electronic output format of XML, Check output format of rtf
- D. Electronic output format of PDF, Check output format of PDF
- E. Electronic output format of eText, Check output format of rtf
Answer: E
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 # 37
In the implementation project, there is a requirement to add new transactional attributes to the Expense Approver Report workflow notification.
Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.)
- A. The Data Model
- B. The Style-Template
- C. The layout-template
- D. The Output types
- E. The original Source
Answer: B,C
Explanation:
Style Template: Provides styles such as the type of lines and fonts to use in tables, or the font type, size, and color to use for headings
Report: Contains a layout template that determines:
Which attributes appear in the notification, from the data model used for the report
What the notification looks like, leveraging components from the subtemplate and styles from the style template used for the report
NEW QUESTION # 38
Which two are classified as Self-Billed invoices? (Choose two.)
- A. Expense Reports transferred from Expenses
- B. Customer Refunds initiated from Receivables
- C. Debit Memos created by the Return to Supplier feature
- D. Evaluated Receipt Settlement (ERS) Invoices
- E. Invoices entered through the Supplier Portal
- F. Invoices created using Integrated Imaging
Answer: D,E
Explanation:
Select ERS and Use in the Transaction source parameter when running the Pay on Receipt Auto-invoice concurrent program.
You enable paying your supplier by selecting a method on the Purchasing tab of the Supplier Sites window in Oracle Payables.
NEW QUESTION # 39
What is the result of voiding a payment?
- A. The payment is no longer valid.
- B. A stop payment request has been initiated to the bank.
- C. A bills payable payment was created but is not yet matured.
- D. The payment is reconciled to the bank statement.
Answer: A
NEW QUESTION # 40
You have assigned additional roles to an existing user. However, the new roles are not appearing for the user in their Navigator menu. What should you check?
- A. Make sure you can query the user using Oracle Identity Manager (OIM) and the roles are assigned.
- B. Make sure the user logs out and logs back in.
- C. Make sure you can query the user from the Manage Users page and verify the roles assigned.
- D. Make sure you ran the Retrieve Latest LDAP Changes program.
Answer: D
Explanation:
Oracle Identity Management maintains Lightweight Directory Access Protocol (LDAP) user accounts for users of Oracle Fusion Applications. Oracle Identity Management also stores the definitions of abstract, job, and data roles, and holds information about roles provisioned to users.
Most changes to user and role information are shared automatically by Oracle Applications Cloud and Oracle Identity Management. No action is necessary to make this exchange of information happen.
However, you must run the processes Send Pending LDAP Requests and Retrieve Latest LDAP Changes to manage some types of information exchange between Oracle Applications Cloud and Oracle Identity Management.
References:https://docs.oracle.com/cd/E60665_01/common/FASER/FASER1345802.htm
NEW QUESTION # 41
You are evaluating the predefined expense report approval rules within your test environment to see if they meet current business requirements.
Which three rule sets are part of the predefined setup? (Choose three.)
- A. Approval by Cost Centre owners in parallel or serial mode
- B. Approval by supervisor based on expenses type amount
- C. Approval by supervisor based on report amount
- D. Approval by Project Manages in parallel or serial mode
- E. Approval by a Group based on report amount in parallel or serial mode
Answer: A,C,D
Explanation:
Approval by cost center owners in parallel mode
Approval by cost center owners in serial mode
Approval by project managers in parallel mode
Approval by project managers in serial mode
Approval by supervisor based on report amount
NEW QUESTION # 42
A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?
- A. Manage Payable Options and Manage Invoice Options
- B. Manage Invoice Options and Manage common options for Payables and Procurement
- C. Manage Invoice Options and Manage Procurement agents
- D. Manage Payment Options and Manage common options for Payables and Procurement
- E. Manage common options for Payables and Procurement and Manage Procurement agents
Answer: A
Explanation:
You can change the conversion rate type at invoice entry or payment creation time.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAIPP/FAIPP1470345.htm
NEW QUESTION # 43
The Government has introduced a new reduced tax recovery rate for certain services. You need to amend the configuration for your current tax regime to reflect this change.
Which three setups will you need to complete? (Choose three.)
- A. Setup a new tax
- B. Setup a new tax rule
- C. Setup a new status
- D. Setup Determining Factor and Condition Sets
- E. Setup a new recovery rate
- F. Setup a new tax rate
Answer: B,C,F
Explanation:
Set up details for the taxes of a tax regime. Each separate tax in a tax regime includes records that are used to calculate and report on the tax, including:
Tax statuses
Tax rates
Tax rules
NEW QUESTION # 44
You want to customize the Payables Invoice Register template to only display invoices when the Supplier name is Company A.
Supplier name is a group that repeats on every page.
Which is the correct way to customize the template?
- A. Hard code Supplier Name "Company A" in the report template and only invoices for that supplier will be displayed.
- B. Insert the syntax <?if:'COMPANY A'?> before the Supplier field and then enter the closing tag </<?if:COMPANY A?> after the invoices table.
- C. Insert the syntax <?if:VENDOR_NAME= 'COMPANY A'?> before the Supplier field on the template. Then, enter the <?end if?> tag after the invoices table.
- D. Insert the syntax <?if:condition?> before the Supplier field and then enter the closing tag </<?if:condition?>.
Answer: A
Explanation:
Use an if statement to define asimple condition; for example, if a data field is a specific value.
Insert the following syntax to designate the beginning of the conditional area.
<?if:condition?>
Insert the following syntax at the end of the conditional area: <?end if?>.
References:https://isu.ifmo.ru/docs/XMLP/help/en_US/htmfiles/B25951_01/T421739T421743.htm
NEW QUESTION # 45
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