[Jan-2022] Oracle 1z0-1055-20 Test Engine PDF - All Free Dumps from Pass4Leader
Get New 1z0-1055-20 Certification – Valid Exam Dumps Questions
Oracle 1z0-1055-20 Exam Syllabus Topics:
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NEW QUESTION 26
You created a payment and before it is cashed by the supplier you mistakenly submitted a request to stop payment. Later you canceled the request to stop payment. What is the resulting payment status?
- A. Stop initiated
- B. Canceled
- C. Negotiable
- D. Voided
- E. Cleared
- F. Available
Answer: C
Explanation:
Explanation
To release a stop on a payment:
References:https://docs.oracle.com/cd/A60725_05/html/comnls/us/ap/adjpmt04.htm
NEW QUESTION 27
Which job role has full access to perform all Functional Setup Manager related activities?
- A. Application Implementation Consultant
- B. Any Functional User
- C. Functional Setup Manager Superuser
- D. IT Security Manager
- E. Application System Administrator
Answer: A
NEW QUESTION 28
While entering an expense report for your corporate card transactions, you notice that the conversion rate defined in the Manage Conversion Rates and Policies page is not used.
What is the reason?
- A. You did not specify a default expense template.
- B. You did not define conversion rates for your business unit.
- C. Only cash transactions use those settings.
- D. You did not define conversion rates in the General Ledger Cloud.
Answer: C
Explanation:
Explanation
Conversion rate behavior applies only to cash expenses, not to corporate card expenses.
References:https://docs.oracle.com/cd/E60665_01/financialscs_gs/FAIEX/F1456644AN125F2.htm
NEW QUESTION 29
Your company policy requires that receipts be attached to expense report items before reimbursement can be made.
Which two statements are true about the association of a receipt to an expense report? (Choose two.)
- A. Receipts are not required if the expense item falls within Per Diem Rates.
- B. Expenses do not create payment requests for expense reports that have missing or overdue receipts.
- C. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.
- D. An expense report may require original, imaged, or both types of receipts.
Answer: B,D
Explanation:
Explanation
Your company periodically schedules and runs the Generate Overdue and Missing Receipts Notification process that generates overdue receipt notifications.
If receipts are overdue and setup requires that the individual be notified, then Expenses automatically sends a notification to the individual to inform him that receipts are overdue.
An expense report may require original, imaged, or both types of receipts.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.htm
NEW QUESTION 30
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 in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.
- B. 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.
- C. Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.
- D. Enter and post a manual journal entry directly into the general ledger.
Answer: A
NEW QUESTION 31
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. The expense auditor can manually release the payment hold at his discretion.
- B. The employee's supervisor can manually release the hold.
- C. Payables Manager can release payment holds in Payables.
- D. Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived.
- E. The employee can manually release the hold.
Answer: A,D
Explanation:
Explanation
Payment holds are released in the following ways:
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.htm
NEW QUESTION 32
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 purchase order payment term cannot be overridden.
- C. The user needs to manually change the payment term on the invoice to match the purchase order payment term.
- D. The user needs to specify which payment term to use.
- E. The payment term of the invoice overrides the purchase order payment term.
Answer: E
NEW QUESTION 33
You applied a prepayment amount of $5,000 USD to a $10,000 USD invoice. At the time of prepayment, the applicable tax rate was 5% ($250 USD); at the time of invoice creation, the tax rate is 10%. When you set up taxes, you choose to Recalculate Taxes for the Applied Amount Handling option.
How will the resulting tax be calculated?
- A. The tax for the prepayment is recalculated and the generated tax line amount will be $250 USD (5% *
10,000-5000). - B. The tax for the prepayment is recalculated to use the new invoice tax rate that is also used for the invoice line amount. The two generated tax lines show $1,000 USD (10% * 10,000) for the invoice line tax amount and a prepayment tax line of -500 USD (10% * -5000).
- C. The tax calculated on the prepayment is reversed completely and the tax rateapplied to the invoice line is retained.
- D. The tax calculation creates two tax lines: one for the invoice line amount and one for the prepayment with a negative amount. The two generated tax lines show $1,000 USD (10% * 10,000) for the invoice line tax amount and a prepayment tax line of -250 USD (5% * -5000).
Answer: B
Explanation:
Explanation
When you apply a prepayment to an invoice, the tax rate at the time of prepayment may differ from the tax rate at the time that the prepayment is applied to an invoice. Oracle Fusion Tax considers the tax calculated on the prepayment according to the value assigned to the Applied Amount Handling option in the tax record. The values are Recalculated and Prorated.
For example, you apply a prepayment amount of 5,000 USD to an invoice with a total amount of10,000 USD.
At the time of prepayment, the applicable tax rate was 5% (250 USD tax on the prepayment); at the time of invoice creation, the applicable tax rate is 10%. Tax is calculated in this way:
* Recalculated: The tax is recalculated on the prepayment using the invoice tax rate and the same tax rate is applied to the invoice line amount. The tax calculation creates two tax lines: one for the invoice line amount and one for the prepayment with a negative amount. In the invoice example, the calculationcreates an invoice line amount tax line of 1,000 USD (10% * 10,000 USD) and a prepayment tax line of -500 USD (10% * -5000 USD). This reverses tax calculated on the invoice for the prepayment amount applied. The tax calculated on the prepayment is retained.
* Prorated:Etc.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAFTT/F1006655AN242EE.htm
NEW QUESTION 34
You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?
- A. Not Validated
- B. Validated
- C. Not Required
- D. Needs Revalidation
- E. Imported
Answer: E
Explanation:
Explanation
After the import process builds the invoices, the invoices can be viewed, modified, and validated on the Manage Invoices page.
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_A149B7BD08207B6DE040D30A6881633
NEW QUESTION 35
Select three reasons why you cannot close your Payables period. (Choose three.)
- A. bills payable requiring maturity
- B. suppliers on payment holds
- C. unaccounted invoices and payments
- D. open intercompany transactions
- E. unapplied prepayments
Answer: A,C,D
Explanation:
Explanation
The types of exceptions reported are:
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9DE8D32BDBE0FBADE040D30A688146
NEW QUESTION 36
What are the two advantages of using a spreadsheet for correcting invoice import errors? (Choose two.)
- A. identification of errors with clear error messages at the invoice header level only
- B. ability to correct errors within the spreadsheet and send invoice corrections for approval
- C. identification of errors with clear error messages at the invoice header and line levels
- D. ability to correct errors and re-import invoices directly from a spreadsheet
- E. ability to enter a high volume of invoices via a spreadsheet
Answer: D,E
Explanation:
Explanation
A: You can fix the interface table data using the Correct Import Errors spreadsheet and resubmits the import process.
E: Consider using the spreadsheetto:
Expedite high volume invoice entry for simple invoices that don't require extensive validation.
Create invoices with similar lines.
Maximize the use of spreadsheet features, such as copy and paste, or hide and unhide.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011878.htm
NEW QUESTION 37
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 38
Identify three scenarios where you are not allowed to cancel an invoice. (Choose three.)
- A. The invoice is fully or partially paid.
- B. Prepayments were applied to the invoice.
- C. The invoice is validated.
- D. An accounting entry has been created for the invoice.
- E. The invoice was adjusted by a credit or a debit memo.
Answer: A,B,E
Explanation:
Explanation
Why can't I cancel an invoice?
The invoice is:
Additional reasons thatyou can't cancel an invoice are as follows:
You can cancel any unapproved invoice, or an approved invoice that does not have anyeffective payments or posting holds.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011878.htm#FAPPP1011878
NEW QUESTION 39
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. Assign the same Invoice Header Identifier to multiple invoices you want to group.
- B. Enable the invoice option Require Invoice Grouping, and the system automatically groups invoices entered in the same spreadsheet.
- C. Make sure the Invoice Number is the same.
- D. Make sure all the invoice dates are the same.
- E. Enter a value in the Invoice Group field to group similar invoices into a batch.
Answer: B
Explanation:
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 40
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. No change in the template is needed as we can achieve this using user-defined validations to move the positions as required.
- C. Copy and modify the existing template to alter the positions as requested by the bank.
- D. Keep the payment process profile and leave the format programs unchanged.
- E. Create a newpayment process profile and a new format program.
- F. Oracle Data Integrator or Golden Gate can be used to map the fields as required.
Answer: A,C
NEW QUESTION 41
Which three reports are generated by the export setup data process? (Choose three.)
- A. Exported Business Object Report
- B. Setup Data Report
- C. Process Results Report
- D. Process Results Detail Listing Report
- E. Process Results Summary Report
Answer: B,C,E
NEW QUESTION 42
An installment for $1,000 USD is due for payment on January 10, 2019. The installment has two discounts:
the first discount date is December 5, 2018 for $150 USD and the second discount date is December 20, 2018 for $50 USD. The Pay Date Basis on the supplier site is Discount.
You submit a Payment Process Request with the following criteria:
* Payment Date = December 5, 2018
* Pay Through Date = December 25, 2018
* Date Basis = Pay Date
* Always Take Discount option is enabled
What will be the resulting status of the installment and discount?
- A. The installment is not selected because the first discount date is before the Pay Through Date.
- B. The installment is selected and a discount of $200 USD ($150 + $50) is applied.
- C. The installment is selected and a discount of $150 USD is applied because the Always Take Discount option was enabled.
- D. The installment is selected and a discount of $50 USD (the second discount) is applied.
- E. The installment is selected but no discount is applied because the payment date is after the discount dates.
Answer: C
Explanation:
Explanation
Discount Taken Amount is 150 USD. Although the Payment Date is after the discount dates, the first discount is taken because the option Always take discount is enabled.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011879AN17393.htm
NEW QUESTION 43
Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?
- A. Payables Aging reports with the General Ledger Trial Balance report
- B. General Ledger Financial Statements and the Accounts Payable and Invoice Registers
- C. Payables to Ledger Reconciliation report
- D. Payables Trial Balance and General Ledger Trial Balance reports
Answer: D
Explanation:
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-financia o-generate-trial-balance-report
NEW QUESTION 44
When creating a check payment, from where is the payment document defaulted?
- A. Supplier
- B. Business Unit
- C. Bank
- D. Bank Account
- E. Legal Entity
Answer: D
Explanation:
Explanation
Create Check
This step shows how to create a check to pay the customer for theclaim. The customer will be paid with the designated amount in Oracle Payables.
Navigation: Actions > Pay in Full.
Notes:
Bank Account: Select BofA.
Document: Select Check.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e16295/T544851T544993.htm
NEW QUESTION 45
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 Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability 8000 Cr Prepayment Account 8000.
- 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.The prepayment application has no impact on the Invoice.
- D. Invoice Accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr Expense Account 8000 Cr Prepayment Account 8000.
Answer: C
NEW QUESTION 46
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