Free Oracle 1Z1-1055 Practice Test & Real Exam Questions

Exam Code/Number: 1Z1-1055
Exam Name/Title: Oracle Financials Cloud: Payables 2019 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud

Exam Questions: 113
Updated On: Sep 06, 2026

Question #1

You want your expense auditors to audit only expense reports for specific business units. How do you do this?

A. Create your own audit extension rules that correspond to the business unit.

B. Assign the expense auditors job role and business unit security context and value to the user.

C. Create a custom duty role and assign the data roles to each auditor.

D. Make auditors the managers of the corresponding business unit to route expense reports properly.

Discussion 0

Correct Answer: B Vote an answer

Question #2

When creating a check payment, from where is the payment document defaulted?

A. Legal Entity

B. Bank

C. Business Unit

D. Supplier

E. Bank Account

Discussion 0

Correct Answer: E Vote an answer

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Question #3

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 at the business unit level to have the payment process derive the bank account.

B. Define the Disbursement Bank Account to every supplier.

C. Define the Disbursement Bank Account to the Payment Method in payment default rules.

D. Assign the Disbursement Bank Account to users to have the payment process default the bank account.

E. Create a Payment Process Request template that includes the Disbursement Bank Account.

Discussion 0

Correct Answer: D,E Vote an answer

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Question #4

When submitting the Payables to General Ledger Reconciliation report, the extract did not select any dat a. 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.

Discussion 0

Correct Answer: A Vote an answer

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Question #5

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 and the accrual account for the prepaid expenses in the invoice lines or distributions.

B. You must provide the accrual account for the prepaid expenses in the invoice lines or distributions.

C. You must provide a start date and an end date for the prepaid expenses in the invoice lines or distributions.

D. You must provide a start date, an end date, and the accrual account for the prepaid expenses in the invoice lines or distributions.

Discussion 0

Correct Answer: B Vote an answer

Question #6

You are using both Procurement and Financials. You want the system to automatically accrue uninvoiced receipts. Select two true statements. (Choose two.)

A. For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account.

B. For period end accruals, the invoice accounting for inventory items debits receipt inventory and credits the uninvoiced receipts.

C. For period end accruals, the invoice accounting debits the expense account and credits the liability account.

D. For period end accruals, accounting is created at material receipt or at delivery to a final destination.

Discussion 0

Correct Answer: A,C Vote an answer

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