New (2021) Oracle 1z0-1055-20 Exam Dumps
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NEW QUESTION 23
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. Modify your template to hard code the value "Domestic" for the pay group position.
- C. 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. - D. Define a user validation at the format program to include: Field "Document pay group", condition
"Equal to String", and value "Domestic".
Answer: D
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 24
You have two business units, Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?
- A. Use segment valuesecurity rules to secure access to business units.
- B. Assign the Expense Auditor job roles to each auditor.
- C. Assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles to each Expense Auditor.
- D. Assign the Expense Auditor as the owner of each business unit.
Answer: C
Explanation:
Explanation
You can enable expense auditors to audit expense reports for specific business units by assigning them specific expense auditor data roles for the business units. For example, to allow an expense auditor toaudit expense reports for the Vision Operations and Vision Services business units, assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles, respectively, to the expense auditor.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.ht
NEW QUESTION 25
What is the name of the Work Area that is used to access Functional Setup Manager?
- A. Customize Setup and Maintenance
- B. Setup and Maintenance
- C. Customization Manager
- D. Functional Work Area
- E. Functional Setup Manager
Answer: B
Explanation:
Explanation
All Oracle Functional Setup Manager functionality is available from the Setup and Maintenance work area.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FACSF/FACSF1004385.htm
NEW QUESTION 26
You want your expense auditors to audit only expense reports for specific business units. How do you do this?
- A. Make auditors the managers of the corresponding business unit to route expense reports properly.
- B. Create a custom duty role and assign the data roles to each auditor.
- C. Create your own audit extension rules that correspond to the business unit.
- D. Assign the expense auditors job role and business unit security context and value to the user.
Answer: D
NEW QUESTION 27
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 Terminated.
- B. The status of each payment in the payment file is Cancelled and the related documents are available for future selection.
- C. The invoices are placed on payment hold.
- D. The status of the payment file is Terminated.
- E. The status of the payment file is Cancelled.
Answer: B,D
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 28
Which three are invoice types that can be entered using the Supplier Portal? (Choose three.)
- A. B2B XML invoices
- B. Invoices that are automatically created when the supplier creates an ASN for drop shipments
- C. Invoices that are created from the Evaluated Receipt Settlement (ERS) process
- D. Non purchase order matched invoices
- E. Purchase order matched invoices
Answer: A,C,E
NEW QUESTION 29
A company has a requirement to pay small suppliers outside of Payables, but it does not want to manually record each payment.
Which solution should you implement?
- A. Create payments by using Electronic Funds Transfer (EFT) for those suppliers but do not send the electronic file to the bank.
- B. Create a payment by using a wire payment method for those suppliers.
- C. Create payments by using the Check Payment method for those suppliers and then destroy those checks.
- D. Create payments by using a clearing payment method for thosesuppliers because this payment method does not generate a file.
Answer: B
Explanation:
Explanation
When you create a payment outside of Payables, for example, using a typed check or wire transfer, within Payables you can record the payment and update the invoices that you paid.
NEW QUESTION 30
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 calculated on the prepayment is reversed completely and the tax rateapplied to the invoice line is retained.
- D. 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).
Answer: B
Explanation:
Explanation
When you apply a prepayment to an invoice, the tax rate at the time of prepayment may differ from the tax rate at the time that the prepayment is applied to an invoice. Oracle Fusion Tax considers the tax calculated on the prepayment according to the value assigned to the Applied Amount Handling option in the tax record. The values are Recalculated and Prorated.
For example, you apply a prepayment amount of 5,000 USD to an invoice with a total amount of10,000 USD.
At the time of prepayment, the applicable tax rate was 5% (250 USD tax on the prepayment); at the time of invoice creation, the applicable tax rate is 10%. Tax is calculated in this way:
* Recalculated: The tax is recalculated on the prepayment using the invoice tax rate and the same tax rate is applied to the invoice line amount. The tax calculation creates two tax lines: one for the invoice line amount and one for the prepayment with a negative amount. In the invoice example, the calculationcreates an invoice line amount tax line of 1,000 USD (10% * 10,000 USD) and a prepayment tax line of -500 USD (10% * -5000 USD). This reverses tax calculated on the invoice for the prepayment amount applied. The tax calculated on the prepayment is retained.
* Prorated:Etc.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAFTT/F1006655AN242EE.htm
NEW QUESTION 31
An installment for $2,000 USD is due for payment on July 31, 2018. The installment has two discounts: the first discount date is June 15, 2018 for $150 USD and the second discount date is June 30, 2018 for $50 USD.
You submit a Payment Process Request with the following criteria:
* Payment Date = June 20, 2018
* Pay Through Date = July 30, 2018
* Date Basis = Due Date
What will be the resulting status of the installment and discount?
- A. The installment is selected and no discount is applied.
- B. The installment is selected and a discount of $150 USD is applied.
- C. The installment is not selected because the discount dates are before the Pay Through Date.
- D. The installment is not selected because the due date is after the Pay Through Date.
- E. The installment is selected and a discount of $50 USD is applied.
Answer: D
Explanation:
Explanation
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm#FAPPP1011879
NEW QUESTION 32
Select three reasons why you cannot close your Payables period. (Choose three.)
- A. bills payable requiring maturity
- B. suppliers on payment holds
- C. unaccounted invoices and payments
- D. open intercompany transactions
- E. unapplied prepayments
Answer: A,C,D
Explanation:
Explanation
The types of exceptions reported are:
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9DE8D32BDBE0FBADE040D30A688146
NEW QUESTION 33
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, an end date, and the accrual account for the prepaid expenses in the invoice lines or distributions.
- B. You must provide a start date and an end date for the prepaid expenses in the invoice lines or distributions.
- C. You must provide the accrual account for the prepaid expenses in the invoice lines or distributions.
- D. You must provide a start date and the accrual account for the prepaid expenses in the invoice lines or distributions.
Answer: C
NEW QUESTION 34
You have two business units: Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?
- A. 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.
- B. Assign the Expense Auditor job role to each auditor and use a data access set to associate the business unit to the role.
- C. Assign the Expense Auditor job role to each auditor and use segment value security rules to secure access to the business units.
- D. Assign the Expense Auditor as the owner of each business unit on the Manage Business Unit Set Assignments page.
Answer: A
NEW QUESTION 35
What data can you find in an Oracle Transactional Business Intelligence subject area attribute column?
- A. data that provides a measure of something
- B. data that is metric and can be added up or aggregated
- C. values that are organized into parent-child relationships
- D. information about a business object with values that are dates, Ids or text
Answer: D
NEW QUESTION 36
You are voiding a payment and have selected Cancel as the Invoice Action. After performing the void, you notice the invoice is not cancelled but has an Invoice Cancel hold on it.
What is reason for this?
- A. The invoice is already on hold.
- B. The invoice has been partially paid by another payment.
- C. The invoice accounting date is not in the current open period.
- D. The invoice date is not in the current open period.
Answer: B
NEW QUESTION 37
What is the recommendation when setting up Reconciliation Rule Sets?
- A. One to One rules should be sequenced below rules of other types.
- B. Many to Many rules should always be used last in the sequence.
- C. Many to Many rules should always be used first in the sequence.
- D. One to One rules should be sequenced above rules of other types.
Answer: D
NEW QUESTION 38
Which three are supported image formats for the Integrated Imaging solution? (Choose three.)
- A. XLS
- B. PNG
- C. TIFF
- D. JPEG
- E. RTF
Answer: B,C,D
NEW QUESTION 39
While processing an expense report, the system placed a payment hold on the expense report. What are two ways to release payment holds? (Choose two.)
- A. The expense auditor can manually release the payment hold at his discretion.
- B. The employee's supervisor can manually release the hold.
- C. Payables Manager can release payment holds in Payables.
- D. Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived.
- E. The employee can manually release the hold.
Answer: A,D
Explanation:
Explanation
Payment holds are released in the following ways:
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.htm
NEW QUESTION 40
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 41
An invoice for $1,000 USD and a credit memo for ($1,100) USD are due for payment. What are the two outcomes if you chose the "Apply Credits Up to Zero Amount" option when submitting a Payment Process Request? (Choose two.)
- A. Neither the invoice nor the credit memo is included in the Payment Process Request.
- B. Both the invoice and the credit memo are included in the Payment Process Request.
- C. Only the invoice is paid fully but the credit memo is partially paid with a credit of ($100) USD remaining.
- D. Both the invoice and the credit memo are fully paid.
Answer: B,C
Explanation:
Explanation
When yousubmit a "payment process request", you can enable the Apply credits up to zero amount payment option. Enabling the option causes the payment process to apply credits when the credits reduce the payment amount below zero.
The following scenario illustratethe impact of this option.
Credit Amount Greater Than Invoice Amount
An invoice for 200 USD and a credit memo for 225 USD are due for payment.
The following table describes the payment processing that occurs based on the setting for the Apply credits upto zero amount payment option.
Assume that the "Apply Credits Up to Zero Amount" option is enabled.
Payment processing applies 200 USD of the credit memo to the invoice and creates a payment for 0 USD. The remaining credit is 25 USD.
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9F438E13CC89BA0CE040D30A68816F7
NEW QUESTION 42
You need to create a recurring expense for one of your regular expenses.
Which three are frequencies that you can choose for these types of expenses? (Choose three.)
- A. Annually
- B. Weekly
- C. Biweekly
- D. Monthly
- E. Bimonthly
Answer: B,D,E
NEW QUESTION 43
Which is the Payables tool based on real-time data?
- A. Smart View
- B. Oracle Business Intelligence Applications (OBIA)
- C. Oracle Financial Reporting (FR)
- D. Oracle Transactional Business Intelligence (OTBI)
- E. Essbase Cube
Answer: D
Explanation:
Explanation
Oracle Transactional Business Intelligence (OTBI) provides real-time insight into HCM business processes.
Traditional ad-hoc reporting tools require a user to have an understanding of the data objects in the database.
References:http://www.oracle.com/us/products/applications/fusion/hcm-oracle-transactional-bi-ds-2187697.pdf
NEW QUESTION 44
An invoice for $200 USD and a credit memo for $225 USD are due for payment and the "Apply credits up to zero amount" option is enabled for the payment process request. Which statement is correct?
- A. The payment process request pays only $200 USD alone.
- B. The payment process request applies $200 USD of the credit memo to the invoice, leaving a remaining credit of $25 USD, and creates a payment for $0 USD.
- C. The payment process request doesn't select the invoice or credit memo for payment because the credit reduces the payment to - $25 USD, which is below zero.
- D. The payment process request creates a refund for $225 USD and leaves the invoice unpaid.
Answer: B
Explanation:
Explanation
When you submit a "payment process request", you can enable the Apply credits up to zero amount payment option. Enablingthe option causes the payment process to apply credits when the credits reduce the payment amount below zero.
The following scenario illustrate the impact of this option.
Credit Amount Greater Than Invoice Amount
An invoice for 200 USD and a credit memofor 225 USD are due for payment.
The following table describes the payment processing that occurs based on the setting for the Apply credits up to zero amount payment option.
Assume that the "Apply Credits Up to Zero Amount" option is enabled.
Payment processing applies 200 USD of the credit memo to the invoice and creates a payment for 0 USD. The remaining credit is 25 USD.
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9F438E13CC89BA0CE040D30A68816F7
NEW QUESTION 45
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 share reference data, such as payment terms, across multiple business units to avoid redundant setup
- B. allow you to secure data by business unit
- C. allow you to assign multiple business units to users in a shared service center
- D. allow you to maintain sets of related data in a Data Dictionary
Answer: A
Explanation:
Explanation
Reference Data Sets
You begin this part of your implementation by creating and assigning reference data to sets. Make changes carefully as changes to a particular set affect all business units or application components using that set. You can assign a separate set to each business unit for the typeofobject that is being shared. For example, assign separate sets for payment terms, transaction types, and sales methods to your business units.
Your enterprise can determine that certain aspects of your corporate policy can affect all business units. The remaining aspects are at the discretion of the business unit manager to implement. This allows your enterprise to balance autonomy and control for each business unit. For example, your enterprise holds business unit managers accountable for their profitand loss, but manages working capital requirements at a corporate level.
In such a case, you can let managers define their own sales methods, but define payment terms centrally. In this example:
Each business unit has its own reference data set for salesmethods.
One central reference data set for payment terms is assigned to all business units.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAIGL/FAIGL1493157.htm#FAIGL94314
NEW QUESTION 46
Identify three scenarios where you are not allowed to cancel an invoice. (Choose three.)
- A. The invoice is fully or partially paid.
- B. Prepayments were applied to the invoice.
- C. The invoice is validated.
- D. An accounting entry has been created for the invoice.
- E. The invoice was adjusted by a credit or a debit memo.
Answer: A,B,E
Explanation:
Explanation
Why can't I cancel an invoice?
The invoice is:
Additional reasons thatyou can't cancel an invoice are as follows:
You can cancel any unapproved invoice, or an approved invoice that does not have anyeffective payments or posting holds.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011878.htm#FAPPP1011878
NEW QUESTION 47
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