Pass4itsure > Oracle > Enterprise Resource Planning (ERP) > 1Z0-1055-20 > 1Z0-1055-20 Online Practice Questions and Answers

1Z0-1055-20 Online Practice Questions and Answers

Questions 4

Which invoice types can be included in the Create Payment flow?

A. Standard, Credit Memo and Debit Memo

B. Standard, Credit Memo and Customer Refund

C. Standard, Credit Memo, and Invoice Request

D. Standard, Debit Memo and Customer Refund

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Questions 5

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.

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Questions 6

During your business trip 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 make adjustments 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.

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Questions 7

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 the Invoice Number is the same.

B. Make sure all the invoice dates are the same.

C. Assign the same Invoice Header Identifier to multiple invoices you want to group.

D. Enable the invoice option Require Invoice Grouping, and the system automatically groups invoices entered in the same spreadsheet.

E. Enter a value in the Invoice Group field to group similar invoices into a batch.

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Questions 8

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?

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

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

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

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

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Questions 9

You need to have an invoice line automatically distributed across multiple cost centers. For example, you

want your monthly utility bill allocated across multiple cost centers based on a percentage.

Select two methods to achieve this. (Choose two.)

A. Configure Subledger Accounting rules to allocate costs.

B. Define a distribution set and assign it manually to the invoice.

C. Choose the `All Lines' option from the Allocate menu in the invoice line area.

D. Define a distribution set and assign it to the supplier.

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Questions 10

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.

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Questions 11

You need to enter a high volume of users into the system. What is Oracle's recommendation to do this?

A. Use the Enter a Supplier user interface and enter each user manually.

B. Use the Hire an Employee user interface and enter each user manually.

C. Use the spreadsheet templates available in Oracle Enterprise Repository (OER) and then import users into Cloud Applications.

D. use the spreadsheet of Oracle Identity Manager (OIM) to import users.

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Questions 12

You have created your first implementation project. You have assigned the Application Implementation

Consultant role to your user. However, you are unable to create and add roles to users in Oracle Identity

Management (OIM).

This issue is caused because you did not assign the ________.

A. Superuser role to your user

B. IT Security Manager role to your user

C. Application Implementation Manager role to your user

D. Line Manager role to your user

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Questions 13

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.

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Exam Code: 1Z0-1055-20
Exam Name: Oracle Financials Cloud: Payables 2020 Implementation Essentials
Last Update: Mar 22, 2024
Questions: 112
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