1z0-1055-20 Actual Questions Answers PDF 100% Cover Real Exam Questions
1z0-1055-20 Exam questions and answers
Oracle 1z0-1055-20 Exam Syllabus Topics:
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NEW QUESTION 59
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 60
Identify three statements that indicate the purpose of Functional Setup Manager.
- A. it allows you to assign setup tasks to individuals with due dates where users must manually update their completion status.
- B. It automatically generates lists of setup tasks in the correct sequence with dependencies highlighted.
- C. It automatically marks the completion status of tasks as Completed once they have been completed.
- D. It provides a central place to access and perform all of the setup steps across the applications.
- E. It allows you to centrally manage the close processes across subledgers and ledgers.
Answer: B,C,D
Explanation:
Explanation
With Oracle Fusion Functional Setup Manager you can:
References:https://docs.oracle.com/cd/E56614_01/common_op/OAFSM/F1166427AN1007E.htm
NEW QUESTION 61
You have modified your tax setup and want to test the changes on actual Payables transactions. How do you validate before enabling for transaction?
- A. by changing the tax status to test and then entering a payables invoice
- B. by creating a payable invoice, and by validating and reviewing the tax application
- C. Oracle Transactional Business Intelligence (OTBI)
- D. by using Tax Simulator to test
- E. by creating accounting in draft mode
Answer: D
Explanation:
Explanation
Run taxes from all applicable tax regimes against a sample transaction to verify that your tax configuration and tax rules were created and applied according to yourrequirements. You can either create a sample transaction within Tax Simulator or copy an existing transaction. The simulated tax calculations do not affect live data.
Note:The Tax Simulator is a tool for simulating the tax determination process in your tax setup. The Tax Simulator lets you preview the workings of your tax configuration before you perform tax calculations on live transactions in a subledger application. TheTax Simulator also allows you to test new tax configuration in conjunction with existing tax configuration to preview the resulting tax calculation. The Tax Simulator is a useful tool to identify the root cause when tax calculation is not what is expectedon live data.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAFTT/F1006654AN226D8.htm
NEW QUESTION 62
Which three are valid reasons why you cannot close your Payables period? (Choose three.)
- A. Unapplied prepayments
- B. Suppliers on payment holds
- C. Bills payable requiring maturity
- D. Unaccounted invoices and payments
- E. Incomplete payment files
Answer: A,B,E
NEW QUESTION 63
What is the name of the Work Area that is used to access Functional Setup Manager?
- A. Customize Setup and Maintenance
- B. Setup and Maintenance
- C. Customization Manager
- D. Functional Work Area
- E. Functional Setup Manager
Answer: B
Explanation:
Explanation
All Oracle Functional Setup Manager functionality is available from the Setup and Maintenance work area.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FACSF/FACSF1004385.htm
NEW QUESTION 64
What is the result of voiding a payment?
- A. A bills payable payment was created but is not yet matured.
- B. A stop payment request has been initiated to the bank.
- C. The payment is reconciled to the bank statement.
- D. The payment is no longer valid.
Answer: D
NEW QUESTION 65
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 Invoice Options page so they default onto the invoice.
- B. Enter the payment terms in the Manage Payment Options page so they default onto the invoice.
- C. Enter the payment terms at the supplier site level so they default onto the invoice.
- D. Enter the payment terms at the Supplier level so they default onto the invoice.
- E. Manually override the payment terms that have defaulted from the purchase order for those suppliers.
Answer: E
NEW QUESTION 66
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. Create Accounting for the invoice in Payables.
- B. Create a payment process request in Payments.
- C. Transfer the data to General Ledger.
- D. Validate the invoice in Payables.
Answer: B
Explanation:
Explanation
Oracle Fusion Expenses provides reimbursement functionality that ensures corporate card issuers and employees are reimbursed for business expenses. Expenses uses Oracle Fusion Payables to process expense reports for reimbursement. To reimburse card issuers and employees, the expense auditor runs the Process Expense Reimbursement process and the corporate card administrator runs the process, Create Corporate Card Issuer Payment Requests. After payment requests are created in Payables, corporate card issuers and employees are paid by Oracle Fusion Payments.
Thisfigure shows the flow of data when the expense auditor runs the Process Expense Reimbursement program.
NEW QUESTION 67
What is the invoice type of an unapproved, unmatched invoice that was created in the Supplier Portal?
- A. Supplier payment request
- B. iSupplier Invoice
- C. Standard Invoice
- D. Credit Memo
- E. Standard invoice request
Answer: E
Explanation:
Explanation
Standard invoice request: An invoice submitted without a purchase order by a supplier through Oracle Fusion Supplier Portal thatis pending review and approval by the appropriate persons within the deploying company.
References:https://docs.oracle.com/cd/E37583_01/doc.1116/e22897/F431919AN100ED.htm
NEW QUESTION 68
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 the user logs out and logs back in.
- B. Make sure you can query the user using Oracle Identity Manager (OIM) and the roles are assigned.
- C. Make sure you ran the Retrieve Latest LDAP Changes program.
- D. Make sure you can query the user from the Manage Users page and verify the roles assigned.
Answer: C
Explanation:
Explanation
Oracle Identity Management maintains Lightweight Directory Access Protocol (LDAP) user accounts for users of Oracle Fusion Applications. Oracle Identity Management also stores the definitions of abstract, job, and data roles, and holds information about roles provisioned to users.
Most changes to user and role information are shared automatically by Oracle Applications Cloud and Oracle Identity Management. No action is necessary to make this exchange of information happen.
However, you must run the processes Send Pending LDAP Requests and Retrieve Latest LDAP Changes to manage some types of information exchange between Oracle Applications Cloud and Oracle Identity Management.
References:https://docs.oracle.com/cd/E60665_01/common/FASER/FASER1345802.htm
NEW QUESTION 69
You want to route invoices to three different approvers at the same time and only one approver needs to approve the invoice. Which approval ruleset should you use?
- A. Invoice Approvers
- B. InvoiceApproversFYIParticipantInParallelMode
- C. InvoiceApproversParallelParticipantInParallelMode
- D. InvoiceApproversSingleParticipantInParallelMode
Answer: C
NEW QUESTION 70
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. supplier only
- C. cost center segment and supplier only
- D. company and cost center segment only
Answer: A
NEW QUESTION 71
Your client company wants to ensure that the payments they are sending to their financial institution are valid and formatted correctly. They would like to identify any validation failures as early in the process as possible.
Where would you suggest the validations are set?
- A. Payment Terms
- B. Payment Format
- C. Payment Method
- D. Disbursement Bank Account
- E. Supplier Site
Answer: C
NEW QUESTION 72
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 73
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 74
Which two statements about the submission of invoices by suppliers using Supplier Portal are true? (Choose two.)
- A. A supplier can make changes to the invoice after submitting it.
- B. A supplier can validate the invoice after submitting it.
- C. A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed.
- D. A supplier can submit a single invoice against multiple purchase orders across different currencies and organizations.
- E. A supplier can submit a single invoice against multiple purchase orders, provided the currency and organization for all the invoice items are the same as those on the purchase orders.
Answer: A,B,C
Explanation:
Explanation
D: (not C): You can enter a credit memo against a fully billed purchase order (use negative quantity amounts to enter a credit memo), as well as invoice against multiple purchase orders. However, the currency and organization of all items on an invoice must be the same. The organization is the entity within the buyer'scompany that you are invoicing.
IncorrectAnswers:
E: After you submit an invoice, you cannot change the invoice.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e13414/T463223T463232.htm
NEW QUESTION 75
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