| Exam Code | 1z0-1055 |
| Exam Name | Oracle Financials Cloud: Payables 2022 Implementation Professional |
| Questions | 139 Questions Answers With Explanation |
| Update Date | November 08,2024 |
| Price |
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You have modified your tax setup and want to test the changes on actual Payables transactions. How do you validate before enabling for transaction?
A. by creating accounting in draft mode
B. by changing the tax status to test and then entering a payables invoice
C. by creating a payable invoice, and by validating and reviewing the tax application
D. Oracle Transactional Business Intelligence (OTBI)
E. by using Tax Simulator to test
You have created an approval rule as follows: Rule 1: If the invoice amount > $1000, route it to User 1. Rule 2: If the invoice amount < $1000, auto approve it. Now, the user creates an invoice for $1000 and routes it for approval. What will happen?
A. Invoice will not be processed.
B. The system will issue an error message after the approval has been initiated.
C. Invoice will be sent to User 1 for approval.
D. Invoice will be auto-approved.
In what order should the import process be run when importing suppliers?
A. Supplier, Supplier Site Contacts, Supplier Site, Supplier Site Assignment
B. Supplier, Supplier Address, Supplier Site, Supplier Site Assignments
C. Supplier, Supplier Site Assignment, Supplier Site, Supplier Contacts
D. any order
You are using the Payable’s Deferred Expense feature (also known as Multiperiod Accounting). You have entered an invoice for a three-month lease that is entered on Jan 10th. The total expense is $12,000 and it covers the rental period from Jan 1st to Mar 31st. Assuming that the rental expenses are split evenly per month and a monthly accounting calendar is used, what would the accounting entry be?
A. On Jan 10th, Debit Prepaid Expense for 12,000 and Credit Liability 12,000
B. On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Feb 28th, Debit
Rental Expense for 4,000 and Credit Prepared Expense for 4,000
C. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000 and thenOn Jan 31st, Debit
Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Feb 28th, Debit Rental Expense for
4,000 and Credit Prepared Expense for 4,000On Mar 31st, Debit Rental Expense for 4,000 and Credit
Prepared Expense for 4,000
D. On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Jan 10th, Debit
Rental Expense for 12,000 and Credit Cash for 12,000
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.
Your client company wants to ensure that the payments they are sending to their financial institution are valid and formatted correctly. They would like to identify any validation failures as early in the process as possible. Where would you suggest the validations are set?
A. Supplier Site
B. Payment Method
C. Payment Format
D. Payment Terms
E. Disbursement Bank Account
Which three are subject area subfolders that report Payables reconciliation differences to General Ledger? (Choose three.)
A. Reconciliation Payment Details
B. Reconciliation Prepayment Application Details
C. Reconciliation Invoice Details
D. Reconciliation Invoice Hold Details
E. Reconciliation Invoice Request Details
You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?
A. Needs Revalidation
B. Not Validated
C. Not Required
D. Not Required
E. Validated
When creating a check payment, from where is the payment document defaulted?
A. Legal Entity
B. Bank
C. Business Unit
D. Bank Account
E. Supplier
Your client company has two business units and requires the Payables Specialist to process invoice transactions for both business units. What setup is required to achieve this?
A. a Self-Service Service Provider Model
B. a Dedicated Service Provider model
C. Business Unit Security
D. a Dedicated and Self-Service Service Provider Model
