1z0-1055-20 Exam Questions Dumps, Selling Oracle Products
1z0-1055-20 Cert Guide PDF 100% Cover Real Exam Questions
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NEW QUESTION 62
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. Weekly
- B. Monthly
- C. Biweekly
- D. Annually
- E. Bimonthly
Answer: A,B,E
NEW QUESTION 63
Which two statements about the submission of invoices by suppliers using Supplier Portal are true? (Choose two.)
- A. A supplier can submit a single invoice against multiple purchase orders, provided the currency and organization for all the invoice items are the same as those on the purchase orders.
- B. A supplier can validate the invoice after submitting it.
- C. A supplier can make changes to the invoice after submitting it.
- D. A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed.
- E. A supplier can submit a single invoice against multiple purchase orders across different currencies and organizations.
Answer: B,C,D
Explanation:
Explanation
D: (not C): You can enter a credit memo against a fully billed purchase order (use negative quantity amounts to enter a credit memo), as well as invoice against multiple purchase orders. However, the currency and organization of all items on an invoice must be the same. The organization is the entity within the buyer'scompany that you are invoicing.
IncorrectAnswers:
E: After you submit an invoice, you cannot change the invoice.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e13414/T463223T463232.htm
NEW QUESTION 64
When reviewing installments, what setup is required to override the supplier site on an invoice?
- A. Allow the remit-to supplier override for third-party payments at Manage Payment options.
- B. Allow the remit-to supplier address override for third-party payments at Manage Invoice options.
- C. Allow the remit-to supplier override for third-party payments at Manage Invoice options.
- D. Allow payee to override for third-party payments while Manage Invoice options.
Answer: B
Explanation:
Explanation
(Optional) Setting the Remit-to Supplier Override Option
References:https://docs.oracle.com/cloud/farel9/financialscs_gs/FAIPP/F1470346AN14ECB.htm
NEW QUESTION 65
If you accidentally paid an invoice using Create Payment flow, can you undo the operation?
- A. yes, by canceling the payment process from the process monitor
- B. yes, by voiding the payment created
- C. no
- D. yes, by creating a credit memo to offset the payment
- E. Cancel the invoice and create a new one.
Answer: C
Explanation:
Explanation
You cannot terminate a Payment Instruction:
References:https://docs.oracle.com/cd/E18727_01/doc.121/e12797/T295436T369088.htm
NEW QUESTION 66
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 be changed to February 1, 2018, the first 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 change to February 28, 2018, the last day of the next period.
Answer: B
Explanation:
Explanation
Run the Payables Unaccounted Transactions Sweep program to transfer unaccounted transactions from one accounting period to another. If your accounting practices permit it, use this program to change the accounting date of the transactions to the next open period.
The program transfers unaccounted transactions to the period you specify by updating the accounting dates to the first day of the new period.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011880AN1B948.htm
NEW QUESTION 67
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 Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability 8000 Cr Prepayment Account 8000.
- B. Invoice accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.The prepayment application has no impact on the Invoice.
- C. Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability Account 2000 Cr Prepayment Account 2000.
- D. Invoice Accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr Expense Account 8000 Cr Prepayment Account 8000.
Answer: B
NEW QUESTION 68
Which three types of payments can you make if you have access to Disbursement Process Management Duty?
(Choose three.)
- A. Ad hoc payments
- B. Customer refunds
- C. Reimbursement of employee expense reports
- D. Employee advances
- E. Supplier payments
Answer: B,C,E
NEW QUESTION 69
Which three are subject area subfolders that report Payables reconciliation differences to General Ledger?
(Choose three.)
- A. Reconciliation Invoice Hold Details
- B. Reconciliation Prepayment Application Details
- C. Reconciliation Invoice Details
- D. Reconciliation Payment Details
- E. Reconciliation Invoice Request Details
Answer: B,C,D
NEW QUESTION 70
A Bill Payable document was paid but has not yet matured.
What is the status of the payment?
- A. Negotiable
- B. In Transit
- C. Cleared
- D. Issued
Answer: D
NEW QUESTION 71
Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run? (Choose two.)
- A. Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables.
- B. Schedule create accounting for the intercompany process.
- C. For the Legal Jurisdiction, Legal function: "Generate intercompany invoice" should be assigned.
- D. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.
- E. Supplier site primary pay flag and customer account bill to primary flag should be enabled.
- F. Manual Approvals should be allowed for the transaction type.
Answer: A,E
Explanation:
Explanation
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAUGL/FAUGL1476872.htm
NEW QUESTION 72
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 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. - B. 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. - 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".
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 73
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 maintain sets of related data in a Data Dictionary
- C. allow you to assign multiple business units to users in a shared service center
- D. allow you to share reference data, such as payment terms, across multiple business units to avoid redundant setup
Answer: D
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 74
An installment meets all of the selection criteria of a Payment Process Request but it still did not get selected for payment processing. Identify two reasons for this.
- A. The pay-through date is in a closed Payables period.
- B. The invoices need revalidation.
- C. The invoice has not been accounted.
- D. The installment was manually removed.
- E. The pay-through date is in a future period.
Answer: A,B
Explanation:
Explanation
An installment can meet the selection criteria of a payment process request, yet not get selected for payment for one or more reasons.
You can review installments that were not selected for payment, along with the reasons they were not selected, on the Not Selected tab of the Review Installments page.
The reasons are as follows:
References:https://docs.oracle.com/cd/E37017_01/doc.1115/e22897/F438410AN16238.htm
NEW QUESTION 75
Which statement is true about selecting a bank account on the Create Payment page?
- A. Users can pick any bank account as long as the bank account is tried to the business unit.
- B. Bank account must match the supplier's bank account.
- C. There is no relationship between the business unit, bank, and LE. Users can pick any bank account that is setup in their system.
- D. LE on the bank account should be different from the LE on the invoice.
- E. LE on the bank account should be equal to LE on the invoice.
Answer: E
Explanation:
Explanation
Note: LE = legal entity
NEW QUESTION 76
What are the two advantages of using a spreadsheet for correcting invoice import errors? (Choose two.)
- A. identification of errors with clear error messages at the invoice header and line levels
- B. ability to enter a high volume of invoices via a spreadsheet
- C. ability to correct errors and re-import invoices directly from a spreadsheet
- D. ability to correct errors within the spreadsheet and send invoice corrections for approval
- E. identification of errors with clear error messages at the invoice header level only
Answer: B,C
Explanation:
Explanation
A: You can fix the interface table data using the Correct Import Errors spreadsheet and resubmits the import process.
E: Consider using the spreadsheetto:
Expedite high volume invoice entry for simple invoices that don't require extensive validation.
Create invoices with similar lines.
Maximize the use of spreadsheet features, such as copy and paste, or hide and unhide.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011878.htm
NEW QUESTION 77
Which three are Invoice Header attributes that can be used during invoice approval rule creation? (Choose three.)
- A. Requester Name
- B. Statistical Amount
- C. Pay Group Lookup Code
- D. Business Unit Name
- E. Accounting Date
Answer: C,D,E
NEW QUESTION 78
What is the result of voiding a payment?
- A. A stop payment request has been initiated to the bank.
- B. The payment is reconciled to the bank statement.
- C. A bills payable payment was created but is not yet matured.
- D. The payment is no longer valid.
Answer: D
NEW QUESTION 79
You want to route invoices to three different approvers at the same time and only one approver needs to approve the invoice. Which approval ruleset should you use?
- A. Invoice Approvers
- B. InvoiceApproversParallelParticipantInParallelMode
- C. InvoiceApproversFYIParticipantInParallelMode
- D. InvoiceApproversSingleParticipantInParallelMode
Answer: B
NEW QUESTION 80
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