[Jan 17, 2022] Free Oracle 1Z0-1055-21 Exam Questions and Answer
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NEW QUESTION 25
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 status of each payment in the payment file is Cancelled and the related documents are available for future selection.
- B. The status of the payment file is Cancelled.
- C. The status of the payment file is Terminated.
- D. The invoices are placed on payment hold.
- E. The status of each payment in the payment file is Terminated.
Answer: A,C
Explanation:
Explanation
If the payment file has been terminated and the documents payable have been returned to the source product, then the status of the Printed Payment File is Terminated.
Oracle Fusion Paymentsinforms the source product of the terminated documents payable. Then for each payment in the payment file, Payments sets the status to Canceled.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011879AN17393.htm
NEW QUESTION 26
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?
- A. The audit selection rule has not been assigned in the system options page
- B. Auditing has not been enabled in the system options page
- C. The audit selection rule has not been assigned to the legal entity
- D. An expenses template and type rule has not been setup
- E. The audit selection rule has not been assigned to the business unit
Answer: E
Explanation:
Explanation
Assign audit rules to business units.
NEW QUESTION 27
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 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. - B. Modify your template to hard code the value "Domestic" for the pay group position.
- C. Define a user validation at the format program to include: Field "Document pay group", condition
"Equal to String", and value "Domestic". - D. 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.
Answer: C
Explanation:
Explanation
User-Defined Validation That Checks a Specific Condition and Value
References:https://docs.oracle.com/cloud/farel9/financialscs_gs/FAIPP/F1469799AN17B6B.htm
NEW QUESTION 28
The Government has introduced a new reduced tax recovery rate for certain services. You need to amend the configuration for your current tax regime to reflect this change.
Which three setups will you need to complete? (Choose three.)
- A. Setup a new tax
- B. Setup a new tax rate
- C. Setup a new recovery rate
- D. Setup Determining Factor and Condition Sets
- E. Setup a new status
- F. Setup a new tax rule
Answer: B,E,F
Explanation:
Explanation
Set up details for the taxes of a tax regime. Each separate tax in a tax regime includes records that are used to calculate and report on the tax, including:
Tax statuses
Tax rates
Tax rules
NEW QUESTION 29
You need to enter a high volume of users into the system. What is Oracle's recommendation to do this?
- A. use the spreadsheet of Oracle Identity Manager (OIM) to import users.
- B. Use the spreadsheet templates available in Oracle Enterprise Repository (OER) and then import users into Cloud Applications.
- C. Use the Hire an Employee user interface and enter each user manually.
- D. Use the Enter a Supplier user interface and enter each user manually.
Answer: B
Explanation:
Explanation
If you have batch of users that have to be created, the Oracle team can bulk load the users into the OIM Application.
References:http://docs.oracle.com/cd/E79623_01/rms/pdf/160C/html/admin_guide/tasks.htm
NEW QUESTION 30
You have a high volume of invoices to enter that have similar lines and do not require extensive validation.
What must you do if you want to group multiple invoices in a batch during spreadsheet entry?
- A. Make sure all the invoice dates are the same.
- B. Make sure the Invoice Number is the same.
- C. Assign the same Invoice Header Identifier to multiple invoices you want to group.
- D. Enter a value in the Invoice Group field to group similar invoices into a batch.
- E. Enable the invoice option Require Invoice Grouping, and the system automatically groups invoices entered in the same spreadsheet.
Answer: E
Explanation:
Explanation
What's an invoice group?
A collection of invoices that is used as a parameter for the Validate Payables Invoice process, a selection criteria for submitting a payment process request, and a parameter in some reports. If you enable the invoice option Require invoice grouping, you must associate each invoice with an invoice group.
References:https://docs.oracle.com/cloud/farel9/financialscs_gs/FAPPP/F1011878AN100C4.htm
NEW QUESTION 31
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.)
- A. Approved part of the expense report is not eligible for expense reimbursement.
- B. The approved part of the expense report is eligible for expense reimbursement.
- C. New expense report containing disallowed expense items is immediately created.
- D. New expense report containing disallowed expense items is not created until manager approves the short payment.
Answer: A,C
Explanation:
Explanation
New expense report containing disallowed expense items is immediately created.
Expense report isn't eligible for expense reimbursement.
NEW QUESTION 32
Which three are supported image formats for the Integrated Imaging solution? (Choose three.)
- A. JPEG
- B. PNG
- C. TIFF
- D. RTF
- E. XLS
Answer: A,B,C
NEW QUESTION 33
Which three are valid reasons why you cannot close your Payables period? (Choose three.)
- A. Unaccounted invoices and payments
- B. Unapplied prepayments
- C. Incomplete payment files
- D. Suppliers on payment holds
- E. Bills payable requiring maturity
Answer: A,C,E
NEW QUESTION 34
What is the difference between subject areas that append the word "Real Time" and those that do not?
- A. 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.
- B. The "Real Time" subject areas are based on subledger transactions and the ones that are not are based on general ledger balances.
- C. The "Real Time" subject areas are based on real-time transactions and those that are not, are based on historical data.
- D. There is no difference.
Answer: A
Explanation:
Explanation
In Oracle Fusion applications, there are two types of subject areas:
Subject areas whose names usually end with Real Time and access real-time (transactional) data.
Subject areas whose names usually do notend with Real Time and access data warehouse data.
References: https://docs.oracle.com/cloud/farel8/common/OATBI/postinstallation.htm
NEW QUESTION 35
XYZ Supplier has third party relationships defined with ABC Supplier and ACME Corporation. However, when reviewing the invoice installments for XYZ Supplier the payables specialist is unable to override the remit-to supplier name and address on the Invoice installments.
What is the reason for this?
- A. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Common Options for Payables and Procurement page for the business unit.
- B. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Invoice Options page for the business unit.
- C. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Disbursement System Options page for the business unit.
- D. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Payment Options page for the business unit.
Answer: B
NEW QUESTION 36
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. Edit the 1099 template to reflect the changes, and then run and submit the 1099 report.
- C. Run and submit your 1099s because it will automatically reflect any changes.
- D. Generate a 1096 form and submit it instead.
Answer: B
NEW QUESTION 37
When reviewing installments, what setup is required to override the supplier site on an invoice?
- A. Allow the remit-to supplier override for third-party payments at Manage Invoice options.
- B. Allow the remit-to supplier override for third-party payments at Manage Payment options.
- C. Allow payee to override for third-party payments while Manage Invoice options.
- D. Allow the remit-to supplier address override for third-party payments at Manage Invoice options.
Answer: D
Explanation:
Explanation
(Optional) Setting the Remit-to Supplier Override Option
References:https://docs.oracle.com/cloud/farel9/financialscs_gs/FAIPP/F1470346AN14ECB.htm
NEW QUESTION 38
You have enabled Payment Approval for your payment process requests (PPR).
At what stage of the PPR is the payment approval process automatically triggered?
- A. Review Proposed Payments
- B. Create Payment Files
- C. Review Installments
- D. Build Payments
Answer: B
NEW QUESTION 39
Which method can you use to route payment approval rules?
- A. Both Parallel and Sequential
- B. Sequential
- C. Parallel
- D. Serial and FYI (For Your Information)
- E. Approval Groups
Answer: B
NEW QUESTION 40
Select three reasons why you cannot close your Payables period. (Choose three.)
- A. bills payable requiring maturity
- B. open intercompany transactions
- C. suppliers on payment holds
- D. unapplied prepayments
- E. unaccounted invoices and payments
Answer: A,B,E
Explanation:
Explanation
The types of exceptions reported are:
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9DE8D32BDBE0FBADE040D30A688146
NEW QUESTION 41
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