Exit demo 1Z0-1055-22 Oracle Financials Cloud: Payables 2022 Implementation Professional PDF format · free preview

Oracle 1Z0-1055-22 - Questions & Answers

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Question 1
Single choice

You are voiding apayment and have selected Cancel as the Invoice Action. After performing the void, you notice the invoice is not cancelled but has an Invoice Cancel hold on it.

What is reason for this?

A.

The invoice has been partially paid by another payment.

B.

The invoice date is not in the current open period.

C.

The invoice is already on hold.

D.

The invoice accounting date is not in the current open period.

Question 2
Single choice

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

What should you check?

A.

Make sure you assign an Account parameter when running the extract to include liability accounts.

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 assigned a Financial Category of Accounts Payable to all your liability natural account values.

Question 3
Single choice

A company makes the payment in a currency different from the invoice and ledger currency.

What setup options are required to makethe cross currency rate type the default?

A.

Manage Invoice Options and Manage common options for Payables and Procurement

B.

Manage Payable Options and Manage common options for Payables and Procurement

C.

Manage Invoice Options and Manage Procurement agents

D.

Manage common options for Payables and Procurement and Manage Procurement agents

E.

Manage Payment Options and Manage common options for Payables and Procurement

Question 4
Single choice

There are four key reports in Cash Management.

What is the correct match for each report and its description?

Report

1. Cash to General Ledger Reconciliation Report
2. Bank Statement Report

3. Cash in Transit Report

4. Bank Statement Analysis Report

Description

1. Lists all transactions for a specific bank account, that have been remitted to the bank but have not been cleared.

2. Displays the bank statements that are used to analyze balances and transaction details.

3. Displays balance and transaction information forspecific bank statements.

4. Lists bank statement transactions that are accounted in GL but are not reconciled in Cash Management.

A.

1 = H, 2 = G, 3 = E, 4 = F

B.

1 = E, 2 = G, 3 = H, 4 = F

C.

1 = H, 2 = F, 3 = E, 4 = G

D.

1 = H, 2 = E, 3 = G, 4 = F

Question 5
Single choice

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 anOffset 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 therelevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification.

Question 6
Single choice

You need to submit a 1099 report; your State format has changed slightly since last year.

How should you submit your 1099s for the State in the current year?

A.

Manually enter the 1099s for the State and submit.

B.

Generate a 1096 form and submit it instead.

C.

Run and submit your 1099s because it will automatically reflect any changes.

D.

Edit the 1099 template to reflect the changes, and then run and submit the 1099 report.

Question 7
Multiple choice

Which three are supported image formats for the Integrated Imaging solution? (Choose three.)

A.

RTF

B.

JPEG

C.

TIFF

D.

XLS

E.

PNG

Question 8
Single choice

What data can you find in an Oracle Transactional Business Intelligence subject area attribute column?

A.

values that are organized into parent-child relationships

B.

data that is metric and can be added up or aggregated

C.

information about a business object with values that are dates, Ids or text

D.

data that provides a measure of something

Question 9
Single choice

During your businesstrip 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 makeadjustments 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.

Question 10
Single choice

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 via a spreadsheet. Then, fromthe 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.

B.

Enter the invoice in the Create Invoice page, choose the Validate option, andthen the Account and Post to Ledger option.

C.

Enter and post a manual journal entry directly into the general ledger.

D.

Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.

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