1Z0-1055-21 Online Practice Questions and Answers

Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run? (Choose two.)

A. For the Legal Jurisdiction, Legal function: "Generate intercompany invoice" should be assigned.

B. Schedule create accounting for the intercompany process.

C. Supplier site primary pay flag and customer account bill to primary flag should be enabled.

D. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.

E. Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables.

F. Manual Approvals should be allowed for the transaction type.

A Payment Process Request was submitted and errors were found in the payment file. The payment file

and process were terminated.

Which two statements are true? (Choose two.)

A. The invoices are placed on payment hold.

B. The status of each payment in the payment file is Terminated.

C. The status of the payment file is Terminated.

D. The status of each payment in the payment file is Cancelled and the related documents are available for future selection.

E. The status of the payment file is Cancelled.

Identify two ways the invoice imaging solution works in the Cloud. (Choose two.)

A. Customers cannot use invoice imaging in the Cloud.

B. Customers scan and store the invoice images on-premise and attach them during invoice entry.

C. Customers ask their suppliers to scan and email the invoice.

D. Customers ask suppliers to send electronic invoices.

E. Customers scan the invoice on-premise and email the images.

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

Which two statements are true related to configuration package? (Choose two.)

A. You can export and import the custom roles from Oracle Identity Manager.

B. You can export and import the allocation rules from the allocation manager.

C. You can export and import the approval rules from the approval management engine.

D. You can export and import selected business units.

E. You can export and import selected business object services.

Which component is not included in the security architecture for credit card data and bank account data encryption?

A. Oracle Wallet

B. Supplier master encryption key

C. Sensitive data encryption and storage

D. Payments subkeys

E. Payments master encryption key

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. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.

B. Receipts are not required if the expense item falls within Per Diem Rates.

C. Expenses do not create payment requests for expense reports that have missing or overdue receipts.

D. An expense report may require original, imaged, or both types of receipts.

You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid?

A. Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero.

B. Both the invoice and the credit memo are paid and a refund of $25 USD is created.

C. Both the invoice and credit memo are included in the payment process request for a payment amount of $0 USD. The credit memo is partially paid with a remaining credit of $25 USD.

D. Both the invoice and the credit memo are selected and the Payment Process Request requires attention.

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 define conversion rates for your business unit.

B. You did not specify a default expense template.

C. Only cash transactions use those settings.

D. You did not define conversion rates in the General Ledger Cloud.

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 8000 Cr Prepayment Account 8000.

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 Account 2000 Cr Prepayment Account 2000.

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 recurring expense for one of your regular expenses. Which three are frequencies that you can choose for these types of expenses? (Choose three.)

A. Weekly

B. Monthly

C. Bimonthly

D. Biweekly

E. Annually

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

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 you can query the user from the Manage Users page and verify the roles assigned.

C. Make sure you ran the Retrieve Latest LDAP Changes program.

D. Make sure the user logs out and logs back in.

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 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).

D. The tax calculated on the prepayment is reversed completely and the tax rateapplied to the invoice line is retained.