1Z0-1055-21 Online Practice Questions and Answers

A company has a requirement to default the disbursement bank account when submitting a Payment

Process Request.

Which actions will accomplish this? (Choose two.)

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

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

C. Define the Disbursement Bank Account to every supplier.

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

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

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?

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

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

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

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

Which is the Payables tool based on real-time data?

A. Essbase Cube

B. Smart View

C. Oracle Transactional Business Intelligence (OTBI)

D. Oracle Business Intelligence Applications (OBIA)

E. Oracle Financial Reporting (FR)

Which two statements are true related to configuration package? (Choose two.)

A. You can export and import the custom roles from Oracle Identity Manager.

B. You can export and import the allocation rules from the allocation manager.

C. You can export and import the approval rules from the approval management engine.

D. You can export and import selected business units.

E. You can export and import selected business object services.

The expense auditor has chosen to Request More Information for an expense report. Select two ways the system processes this action. (Choose two.)

A. The expense report status remains Pending Payables Approval.

B. The expense report is routed back to the approvers.

C. The audit can be completed before the requested information is received from the employee.

D. The employee must resubmit the expense report.

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.

An Office supplies company requires an advance payment of $8000 for the office supplies you wish to order. You enter and pay a prepayment type invoice for $8000. You enter the standard invoice to book the expense which totals $10000 and you apply the prepayment to the standard invoice. What are the

accounting entries for that standard invoice with the prepayment application?

A. Invoice accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.The prepayment application has no impact on the Invoice.

B. Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application

-Dr AP Liability 8000 Cr Prepayment Account 8000.

C. Invoice Accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr Expense Account 8000 Cr Prepayment Account 8000.

D. Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application

-Dr AP Liability Account 2000 Cr Prepayment Account 2000.

Which reporting tool is used to report on real-time data?

A. Essbase Cube

B. Smart View

C. Oracle Business Intelligence Publisher

D. Oracle Financial Reporting Studio

E. Oracle Transactional Business Intelligence (OTBI)

You have 10 ledgers and 30 business units and want to leverage Preference Data Sets. What is the function of Reference Data Sets?

A. allow you to secure data by business unit

B. allow you to assign multiple business units to users in a shared service center

C. allow you to maintain sets of related data in a Data Dictionary

D. allow you to share reference data, such as payment terms, across multiple business units to avoid redundant setup

You want your expense auditors to audit only expenses reports for specific business units. How do you do this?

A. Create your own audit extension rules that correspond to the business unit.

B. Assign the auditors' specific data roles for the corresponding business units.

C. Create a custom duty role and assign the data roles to each auditor.

D. Make auditors the managersof the corresponding business unit to route expense reports properly.