Latest 1z0-1055-22 Exam Real Tests Free Updated Today [Q18-Q41] – Unlimited Lifetime Access Free Exams PDF

5/5 - (1 vote)

Latest 1z0-1055-22 Exam Real Tests Free Updated Today

1z0-1055-22 Real Exam Question Answers Updated [Jul 04, 2023]

The Oracle 1z0-1055-22 exam is designed for professionals who are seeking to demonstrate their expertise in implementing and managing Oracle Financials Cloud: Payables 2022. This certification is aimed at individuals who work in finance departments, accounting firms, or consulting companies and are responsible for managing payables processes in their organizations. This exam is designed to test the candidate’s ability to configure, manage, and troubleshoot Oracle Financials Cloud: Payables 2022, as well as their knowledge of industry best practices and regulatory compliance.

NO.18 How will system evaluate the tolerances for expense reports?

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

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

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

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

System will use absolute amount tolerance setup to do validations.

NO.19 Your client is concerned that all expense reports are getting automatically approved by the expenses system despite the setup of an Audit Selection Rule.
What is the reason for this?

The audit selection rule has not been assigned in the system options page

The audit selection rule has not been assigned to the legal entity

Auditing has not been enabled in the system options page

An expenses template and type rule has not been setup

The audit selection rule has not been assigned to the business unit

NO.20 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?

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

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

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.

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

NO.21 What happens if a company runs the Payables Unaccounted Transactions Sweep program for February 2018 if the invoices with a Hold status have an invoice date of January 20, 2018?

The accounting dates of all unaccounted invoices will be changed to February 20,2018, the same day of the next period.

The accounting dates of all unaccounted invoices will change to February 28, 2018, the last day of the next period.

The accounting dates of all unaccounted invoices will remain unchanged at January 20, 2018.

The accounting dates of all unaccounted invoices will be changed to February 1, 2018, the first day of the next period.

NO.22 When reviewing installments, what setup is required to override the supplier site on an invoice?

Allow the remit-to supplier override for third-party payments at Manage Invoice options.

Allow the remit-to supplier address override for third-party payments at Manage Invoice options.

Allow payee to override for third-party payments while Manage Invoice options.

Allow the remit-to supplier override for third-party payments at Manage Payment options.

NO.23 A company has a requirement to default the disbursement bank account when submitting a Payment Process Request.
Which actions will accomplish this? (Choose two.)

Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account.

Define the Disbursement Bank Account to the Payment Method in payment default rules.

Define the Disbursement Bank Account to every supplier.

Create a Payment Process Request template that includes the Disbursement Bank Account.

Assign the Disbursement Bank Account to users to have the payment process default the bank account.

NO.24 A Bill Payable document was paid but has not yet matured.
What is the status of the payment?

In Transit

Cleared

Negotiable

Issued

NO.25 You want to customize the Payables Invoice Register template to only display invoices when the Supplier name is Company A.
Supplier name is a group that repeats on every page.
Which is the correct way to customize the template?

Insert the syntax <?if:VENDOR_NAME= ‘COMPANY A’?> before the Supplier field on the template. Then, enter the <?end if?> tag after the invoices table.

Insert the syntax <?if:condition?> before the Supplier field and then enter the closing tag </<?if:condition?>.

Insert the syntax <?if:’COMPANY A’?> before the Supplier field and then enter the closing tag </<?if:COMPANY A?> after the invoices table.

Hard code Supplier Name “Company A” in the report template and only invoices for that supplier will be displayed.

NO.26 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?

Supplier Site

Payment Method

Payment Format

Payment Terms

Disbursement Bank Account

NO.27 You have two business units: Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?

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

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.

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

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

NO.28 What is the difference between subject areas that append the word “Real Time” and those that do not?

The “Real Time” subject areas are based on real-time transactions and those that are not, are based on historical data.

The “Real Time” subject areas are based on real-time transactions in the applications, and those that are not, are based on data stored in the Oracle Business Intelligence Applications data warehouse.

There is no difference.

The “Real Time” subject areas are based on subledger transactions and the ones that are not are based on general ledger balances.

NO.29 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.)

The invoices are placed on payment hold.

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

The status of the payment file is Terminated.

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

The status of the payment file is Cancelled.

NO.30 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.)

For the Legal Jurisdiction, Legal function: “Generate intercompany invoice” should be assigned.

Schedule create accounting for the intercompany process.

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

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

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

Manual Approvals should be allowed for the transaction type.

NO.31 You have two business units, Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?

Use segment valuesecurity rules to secure access to business units.

Assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles to each Expense Auditor.

Assign the Expense Auditor as the owner of each business unit.

Assign the Expense Auditor job roles to each auditor.

NO.32 During an expense audit the auditor marks an expense item that is missing a receipt to be Short Paid. They choose to complete the audit and warn the user.
Given that the Expense Report Audit Approval is set to After Manager Approval, what two are valid results of the auditor action? (Choose two.)

New expense report containing disallowed expense items is immediately created.

Approved part of the expense report is not eligible for expense reimbursement.

The approved part of the expense report is eligible for expense reimbursement.

New expense report containing disallowed expense items is not created until manager approves the short payment.

NO.33 A company has a requirement to default the disbursement bank account when submitting a Payment Process Request.
Which two actions will accomplish this? (Choose two.)

Define the Disbursement Bank Account in the Payment tab at the supplier site level.

Create a Payment Process Request template that includes the Disbursement Bank Account.

Assign the Disbursement Bank Account to users to have the payment process default the bank account.

Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account.

Define the Disbursement Bank Account to the Payment Method in payment default rules.

NO.34 You purchased a computer from Company A for 2000 USD. Company B ships you the computer with freight charges of 100 USD. You would like the cost of the computer to include those freight charges.
How can you achieve this?

Choose Match to Receipt.

Enter the Invoice manually and add the freight line.

Choose to Match to Receipt Charges.

Choose to Match to Invoice Lines.

Choose to Match in full to the Purchase Order.

NO.35 What data can you find in an Oracle Transactional Business Intelligence subject area attribute column?

values that are organized into parent-child relationships

data that is metric and can be added up or aggregated

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

data that provides a measure of something

NO.36 Which two are true for Payables Payment Terms? (Choose two.)

When entering an Invoice, you will see Payment Terms assigned to the reference data set associated with the Business unit on the invoice plus those associated with the common set.

You must assign the predefined payment term Immediate to the reference data set that is assigned to the business unit before you can define common options for Payables and Procurement.

When entering an Invoice, you will see Payment Terms assigned to the reference data set associated with the Business unit on the invoice but not those associated with the common set.

Each payment term can only be assigned to one reference data set.

NO.37 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?

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.

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.

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.

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.

NO.38 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?

The tax for the prepayment is recalculated and the generated tax line amount will be $250 USD (5% * 10,000-5000).

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).

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).

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

NO.39 Which two statements about the submission of invoices by suppliers using Supplier Portal are true? (Choose two.)

A supplier can make changes to the invoice after submitting it.

A supplier can submit a single invoice against multiple purchase orders across different currencies and organizations.

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.

A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed.

A supplier can validate the invoice after submitting it.

NO.40 You have an invoice for a three-month lease and wish to recognize the expense monthly for the duration of the lease.
What must be entered on the invoice in order to do this?

You must provide a start date and an end date for the prepaid expenses in the invoice lines or distributions.

You must provide a start date, an end date, and the accrual account for the prepaid expenses in the invoice lines or distributions.

You must provide a start date and the accrual account for the prepaid expenses in the invoice lines or distributions.

You must provide the accrual account for the prepaid expenses in the invoice lines or distributions.

NO.41 When submitting the Payables to General Ledger Reconciliation report, the extract did not select any dat
a. What should you check?

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

Make sure you specified a Business Unit in the parameters when running the extract.

Make sure you enabled the Reconciliation flag to all of your liability natural account values.

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

The Oracle 1z0-1055-22 exam is a certification exam that is designed for professionals who want to become an Oracle Financials Cloud Payables 2022 Implementation Professional. The exam is designed to validate an individual’s skills in implementing and configuring Oracle Financials Cloud Payables. The exam covers various topics related to Oracle Financials Cloud Payables, and individuals can use various study materials to prepare for the exam. Passing the Oracle 1z0-1055-22 exam can help individuals enhance their career opportunities and demonstrate their expertise in implementing and configuring Oracle Financials Cloud Payables.

The Oracle 1z0-1055-22 Certification Exam is an excellent opportunity for individuals who want to enhance their skills and career prospects in the field of financial management. The certification provides a comprehensive understanding of the Oracle Financials Cloud: Payables 2022 implementation process and demonstrates the individual’s proficiency in the product’s features, functionalities, and configuration options. Therefore, passing this certification exam is a great achievement for any financial management professional.

Latest 1z0-1055-22 Study Guides 2023 – With Test Engine PDF: https://www.actualpdf.com/1z0-1055-22_exam-dumps.html

Leave a Reply Cancel reply