1Z0-1055-20 Online Practice Questions and Answers

Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?

A. The user needs to specify which payment term to use.

B. The payment term of the purchase order overrides the invoice payment term.

C. The payment term of the invoice overrides the purchase order payment term.

D. The purchase order payment term cannot be overridden.

E. The user needs to manually change the payment term on the invoice to match the purchase order payment term.

Which two statements are true when you are using the Intercompany Reconciliation Reports? (Choose two.)

A. You must run the prepare Intercompany Reconciliation Reporting Information process.

B. The reconciliation period summary report will not show the intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction.

C. The reports will show the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.

D. The reports will include Ledger balancing lines generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.

E. You can drill down on the links in the Period Summary report to view the balances by Intercompany Organization.

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.

During your business trip to the UK, you took a taxi ride and paid for it by using your personal Visa credit

card. While entering your expenses, you get a warning that a different conversion rate was applied to the

taxi expense by Visa that the one used by your company.

How do you handle this situation?

A. Do not enter the taxi expense and call your Finance Department so that they can make changes in the conversion rate settings and you do not violate the allowable limit.

B. Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then, wait to get a revised statement.

C. Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a different conversion rate.

D. Use the corporate-defined conversion rate even if it means you will not be reimbursed fully.

How will system evaluate the tolerances for expense reports?

A. System will calculate error tolerance as (|Policy Rate * (1+Error Tolerance/100)|) currency precision.

B. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100)*currency precision.

C. System will calculate error tolerance as Policy Rate * (1+Warning Tolerance+ Error Tolerance/100).

D. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100).

E. System will use absolute amount tolerance setup to do validations.

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

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

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

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

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

You have two business units: Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?

A. Assign the Expense Auditor as the owner of each business unit on the Manage Business Unit Set Assignments page.

B. Assign the Expense Auditor job role to each auditor and associate the business unit to the role by using the Manage Data Access for Users page.

C. Assign the Expense Auditor job role to each auditor and use segment value security rules to secure access to the business units.

D. Assign the Expense Auditor job role to each auditor and use a data access set to associate the business unit to the role.

Your customer matches their invoices to a purchase order and have noticed that the payment terms are

defaulting from the order. For some suppliers, they would like to use the payment terms from the supplier

site.

How can the customer achieve this?

A. Enter the payment terms in the Manage Payment Options page so they default onto the invoice.

B. Enter the payment terms at the Supplier level so they default onto the invoice.

C. Enter the payment terms at the supplier site level so they default onto the invoice.

D. Manually override the payment terms that have defaulted from the purchase order for those suppliers.

E. Enter the payment terms in the Manage Invoice Options page so they default onto the invoice.

Which attributes on the payables invoice can be used during approval rule creation?

A. company segment, cost center segment, supplier, and Attribute 1 on the invoice line

B. company and cost center segment only

C. supplier only

D. cost center segment and supplier only

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)

You need to create a payment for a supplier before the next payment run. The invoice you wish to pay is not available for selection in the Create Payment page. Which two are possible reasons for this? (Choose two.)

A. The payment supplier site is different to the supplier site on the invoice.

B. The invoice is not yet due.

C. The invoice is not validated.

D. The payment method for the invoice is Electronic.

E. The invoice is not accounted.

Your client company has two business units and requires the Payables Specialist to process invoice

transactions for both business units.

What setup is required to achieve this?

A. a Self-Service Service Provider Model

B. a Dedicated Service Provider model

C. Business Unit Security

D. a Dedicated and Self-Service Service Provider Model

You are resolving payment validation errors during the payment build process. Which two actions can you perform to resolve these errors?

A. Run the create accounting program.

B. Run the invoice validation program.

C. Remove the documents or payments causing the error and resume the payment process.

D. Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.

E. Terminate the payment process request.

You have 10 ledgers and 30 business units and want to leverage Preference Data Sets. What is the function of Reference Data Sets?

A. allow you to secure data by business unit

B. allow you to assign multiple business units to users in a shared service center

C. allow you to maintain sets of related data in a Data Dictionary

D. allow you to share reference data, such as payment terms, across multiple business units to avoid redundant setup

Your customer has an electronic payment format program in use and wants all the documents to use the pay group "Domestic". What should you do to achieve this?

A. Define a user validation at the format program to include: Field "Document pay group", condition "Equal to String", value "Domestic", and Field "Document pay group", condition "Required" and value ?not applicable.

B. Define a user validation at the format program to include: Field "Document pay group", condition "Equal to String", and value "Domestic".

C. Modify your template to hard code the value "Domestic" for the pay group position.

D. Define a user validation at the formatprogram to include: Field "Document pay group", condition "Equal to String", value "Domestic", and Field "Format Program Code", condition "Equal to String" and value ? as desired.