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December 21, 2021 admin

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Oracle 1Z0-1055-21 dumps [2022] – 1Z0-1055-21 free exam questions answers test

QUESTION 1

The payment build program has been completed but with errors. When submitting the payment process request, which
processing option is used to review the error messages from the Manage Payment Process Request Inquiry?

A. Set the validation failure handling for documents to “show errors.”
B. Set the validation failure handling for payments to “stop process for review.”
C. Set the validation failure handling for payments to “show errors.”
D. Enable debug for the payment format program.

Correct Answer: B

QUESTION 2

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. InvoiceApproversFYIParticipantInParallelMode
B. InvoiceApproversSingleParticipantInParallelMode
C. InvoiceApproversParallelParticipantInParallelMode
D. Invoice Approvers

Correct Answer: C

QUESTION 3

What are the output formats supported for Electronic and Check format programs?

A. Electronic output format of XML, Check output format of RTF
B. Electronic output format of eText, Check output format of RTF
C. Electronic output format of Text, Check output format of Text
D. Electronic output format of DATA (CSV), Check output format of Zipped PDFs
E. Electronic output format of PDF, Check output format of PDF

Correct Answer: B

The eText template is used specifically for electronic data interchange (EDI) and electronic funds transfer (EFT).
References: https://docs.oracle.com/cd/E56614_01/common_op/OAEXT/F1203011AN1CABC.htm

QUESTION 4

You need to submit a 1099 report; your State format has changed slightly since last year. How should you submit your
1099s for the State in the current year?

A. Manually enter the 1099s for the State and submit.
B. Generate a 1096 form and submit it instead.
C. Run and submit your 1099s because it will automatically reflect any changes.
D. Edit the 1099 template to reflect the changes, and then run and submit the 1099 report.

Correct Answer: D

QUESTION 5

While entering an expense report for your corporate card transactions, you notice that the conversion rate
defined in the Manage Conversion Rates and Policies page is not used.
What is the reason?

A. You did not define conversion rates for your business unit.
B. You did not specify a default expense template.
C. Only cash transactions use those settings.
D. You did not define conversion rates in the General Ledger Cloud.

Correct Answer: C

Conversion rate behavior applies only to cash expenses, not to corporate card expenses.
References: https://docs.oracle.com/cd/E60665_01/financialscs_gs/FAIEX/F1456644AN125F2.htm

QUESTION 6

You need 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. SingleTypeParticipantInParallelModeRuleSet
B. FyiTypeParticipantInParallelModeRuleSet
C. InvoiceApprovalRuleSet
D. ParallelTypeParticipantInParallelModeRuleSet

Correct Answer: D

QUESTION 7

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 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).
D. The tax calculated on the prepayment is reversed completely and the tax rateapplied to the invoice line is retained.

Correct Answer: B

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 calculation creates 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 the 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

QUESTION 8

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

A. Standard Invoice
B. Standard invoice request
C. Credit Memo
D. Supplier payment request
E. iSupplier Invoice

Correct Answer: B

Standard invoice request: An invoice submitted without a purchase order by a supplier through Oracle Fusion Supplier
Portal thatis pending review and approval by the appropriate persons within the deploying company.

References: https://docs.oracle.com/cd/E37583_01/doc.1116/e22897/F431919AN100ED.htm

QUESTION 9

An invoice for $200 USD and a credit memo for $225 USD are due for payment and the “Apply for 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 creates a refund for $225 USD and leaves the invoice unpaid.
D. 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.

Correct Answer: B

When you submit 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 for credits when the credits reduce the payment amount below
zero. The following scenario illustrates the 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 up to zero amount payment option.

Assume that the “Apply for 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_9F438E13CC89BA0CE040D30 A68816F77

QUESTION 10

What is the result of voiding a payment?

A. A stop payment request has been initiated to the bank.
B. A bills payable payment was created but is not yet matured.
C. The payment is reconciled to the bank statement.
D. The payment is no longer valid.

Correct Answer: D

QUESTION 11

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

Correct Answer: C

QUESTION 12

When creating a check payment, from where does the payment document default?

A. Legal Entity
B. Bank
C. Business Unit
D. Bank Account
E. Supplier

Correct Answer: D

Create Check
This step shows how to create a check to pay the customer for the claim. The customer will be paid with the
designated amount in Oracle Payables.
Navigation: Actions > Pay in Full.

Notes:
Bank Account: Select BofA.
Document: Select Check.

References: https://docs.oracle.com/cd/E18727_01/doc.121/e16295/T544851T544993.htm

QUESTION 13

You want to customize the Payables Invoice Register template to only display invoices when the Supplier name is
Company

A. Supplier name is a group that repeats on every page. Which is the correct way to customize the template?
B. Insert the syntax before the Supplier field on the template. Then, enter the tag after the invoices table.
C. Insert the syntax before the Supplier field and then enter the closing tag before the Supplier field and then enter the
closing tag
Insert the following syntax at the end of the conditional area: .

References: https://isu.ifmo.ru/docs/XMLP/help/en_US/htmfiles/B25951_01/T421739T421743.htm

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