1Z0-1005 Online Practice Questions and Answers

Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?

A. Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers.

B. Define a Tax Status and Rate for Exempt, define a Party Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Party Fiscal Classification.

C. Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab.

D. Define a Tax Status and Rate for Exempt, define a Supplier Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification.

You have invoices with distributions across primary balancing segments that represent different

companies.

What feature should you use if you want the system to automatically balance your invoice's liability amount

across the same balancing segments on the invoice distributions?

A. Payable's Automatic Offset

B. Intercompany Balancing

C. Subledger Accounting's Account Rules

D. Suspense Accounts

E. Payables' Allow Reconciliation Accounting

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

A. Legal Entity

B. Bank

C. Business Unit

D. Bank Account

E. Supplier

Your customer has implemented English as base language and French as a local language. The customer's bank needs the payment file to be sent to them in French. What is the relevant step to do this for preparing the payment template?

A. Create your template in English language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with country locale.

B. Create your template in the local language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with English locale.

C. Create your template in the local language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region. Use English locale and generate the XLIFF file. Then upload the file back under the translated region.

D. Create your template in English language, then upload it to Business Intelligence (BI) under the custom/payment folder, under the templates region. Use English locale and generate the XLIFF file. Then upload the file back under the translated region.

You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?

A. Needs Revalidation

B. Not Validated

C. Not Required

D. Imported

E. Validated

You have successfully processed the expense reports for reimbursement and have transferred the information to Payables. What is the next step before you can pay them?

A. Transfer the data to General Ledger.

B. Validate the invoice in Payables.

C. Create a payment process request in Payments.

D. Create Accounting for the invoice in Payables.

Identify what Oracle considers two best practices when setting up Payables and Receivables account access for bank reconciliation. (Choose two.)

A. Do not assign bank accounts to business units.

B. Assign a few general ledger cash accounts to multiple bank accounts to facilitate book-tobank reconciliation.

C. Business units must be granted access to the bank account.

D. Only business units who use the same ledger as the bank accounts owning legal entity can be assigned access.

E. Allow bank accounts to be accessed by all roles and users because the default value to secure a bank account by users and roles is No.

Which is the Payables tool based on real-time data?

A. Essbase Cube

B. Smart View

C. Oracle Transactional Business Intelligence (OTBI)

D. Oracle Business Intelligence Applications (OBIA)

E. Oracle Financial Reporting (FR)

Which two statements are true about the Invoice Validation process? (Choose two.)

A. opens the relevant accounting period

B. validates project information

C. updates supplier balances

D. creates tax lines and distributions

E. creates accounting entries in draft

What two job roles are required to access information within Functional Setup Manager? (Choose two.)

A. Application Implementation Manager

B. Any Functional User

C. Application Implementation Consultant

D. Functional Setup Manager Superuser

E. IT Security Manager

Which dashboard or workarea displays the Scanned Invoices region for invoices processed through the Payables Integrated Imaging solution?

A. Manage Invoices page

B. C-level executives

C. Invoices Workarea only

D. Payables Dashboard only

E. Payables Dashboard and Invoices Workarea

The expense auditor has chosen to Request More Information for an expense report. Select two ways the system processes this action. (Choose two.)

A. The expense report status remains Pending Payables Approval.

B. The expense report is routed back to the approvers.

C. The audit can be completed before the requested information is received from the employee.

D. The employee must resubmit the expense report.

The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct? (Choose three.)

A. All related interest invoices are reversed if previously created.

B. Any previous accounting and payment records for an invoice are reversed.

C. All related withholding tax invoices are automatically voided.

D. Any realized gain or loss previously calculated is reversed.

E. Voiding the payment automatically places an invoice on hold.

Which reporting tool is used to report on real-time data?

A. Essbase Cube

B. Smart View

C. Oracle Business Intelligence Publisher

D. Oracle Financial Reporting Studio

E. Oracle Transactional Business Intelligence (OTBI)

Which three are invoice types that can be entered using the Supplier Portal? (Choose three.)

A. Invoices that are automatically created when the supplier creates an ASN for drop shipments

B. B2B XML invoices

C. Non purchase order matched invoices

D. Invoices that are created from the Evaluated Receipt Settlement (ERS) process

E. Purchase order matched invoices