1Z0-1055-21 by Oracle Actual Free Exam Questions And Answers

Question 1

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. New expense report containing disallowed expense items is immediately created.

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

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

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

Discussion 0

Correct Answer: A,C Vote an answer

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Question 2

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 to the legal entity

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

C. An expenses template and type rule has not been setup

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

E. Auditing has not been enabled in the system options page

Discussion 0

Correct Answer: D Vote an answer

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Question 3

Your client wants to retrieve values for the account code based on the invoice line description. For example, Invoice Line Description = Laptop then Account Code = 5670.
Which Subledger Accounting option would you use to achieve this?

A. Supporting References

B. Mapping Set

C. Description Rule

D. Event Class Settings

E. Transaction References

Discussion 0

Correct Answer: C Vote an answer

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Question 4

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

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

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

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

Discussion 0

Correct Answer: A Vote an answer

Question 5

You need to have your 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.
Which two are valid methods to achieve this? (Choose two.)

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

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

C. Define a payment term and assign it to the invoice.

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

Discussion 0

Correct Answer: A,C Vote an answer

Question 6

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 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.

B. 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.

C. Modify your template to hard code the value "Domestic" for the pay group position.

D. Define a user validation at the format program to include: Field "Document pay group", condition
"Equal to String", and value "Domestic".

Discussion 0

Correct Answer: D Vote an answer

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Question 7

You have three procurement business units, four requisition business units and five sold-to business units. For which will the supplier registration flows be deployed?

A. twelve business units per supplier

B. one business unit per supplier

C. three procurement business units

D. five sold-to business units

E. four requisition business units

Discussion 0

Correct Answer: C Vote an answer

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Question 8

What is the invoice type of an unapproved, unmatched invoice that was created in the Supplier Portal?

A. iSupplier Invoice

B. Standard invoice request

C. Credit Memo

D. Standard Invoice

E. Supplier payment request

Discussion 0

Correct Answer: B Vote an answer

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Question 9

Which three are valid reasons why you cannot close your Payables period? (Choose three.)

A. Unaccounted invoices and payments

B. Unapplied prepayments

C. Bills payable requiring maturity

D. Suppliers on payment holds

E. Incomplete payment files

Discussion 0

Correct Answer: A,C,E Vote an answer

Oracle Financials Cloud: Payables 2021 Implementation Essentials - 1Z0-1055-21 Exam Practice Test

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