Updated Dec 05, 2021 Test Engine to Practice Test for 1z0-1055-20 Valid and Updated Dumps
Exam Questions for 1z0-1055-20 Updated Versions With Test Engine
Oracle 1z0-1055-20 Exam Syllabus Topics:
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NEW QUESTION 19
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 20
A Bill Payable document was paid but has not yet matured.
What is the status of the payment?
- A. Issued
- B. Negotiable
- C. In Transit
- D. Cleared
Answer: A
NEW QUESTION 21
Which three reports are generated by the export setup data process? (Choose three.)
- A. Exported Business Object Report
- B. Setup Data Report
- C. Process Results Report
- D. Process Results Detail Listing Report
- E. Process Results Summary Report
Answer: B,C,E
NEW QUESTION 22
Which statement is true about selecting a bank account on the Create Payment page?
- A. LE on the bank account should be different from the LE on the invoice.
- B. Users can pick any bank account as long as the bank account is tried to the business unit.
- C. Bank account must match the supplier's bank account.
- D. There is no relationship between the business unit, bank, and LE. Users can pick any bank account that is setup in their system.
- E. LE on the bank account should be equal to LE on the invoice.
Answer: E
Explanation:
Explanation
Note: LE = legal entity
NEW QUESTION 23
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 changing the tax status to test and then entering a payables invoice
- B. by creating a payable invoice, and by validating and reviewing the tax application
- C. Oracle Transactional Business Intelligence (OTBI)
- D. by using Tax Simulator to test
- E. by creating accounting in draft mode
Answer: D
Explanation:
Explanation
Run taxes from all applicable tax regimes against a sample transaction to verify that your tax configuration and tax rules were created and applied according to yourrequirements. You can either create a sample transaction within Tax Simulator or copy an existing transaction. The simulated tax calculations do not affect live data.
Note:The Tax Simulator is a tool for simulating the tax determination process in your tax setup. The Tax Simulator lets you preview the workings of your tax configuration before you perform tax calculations on live transactions in a subledger application. TheTax Simulator also allows you to test new tax configuration in conjunction with existing tax configuration to preview the resulting tax calculation. The Tax Simulator is a useful tool to identify the root cause when tax calculation is not what is expectedon live data.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAFTT/F1006654AN226D8.htm
NEW QUESTION 24
Which dashboard or workarea displays the Scanned Invoices region for invoices processed through the Payables Integrated Imaging solution?
- A. Payables Dashboard only
- B. Payables Dashboard and Invoices Workarea
- C. Manage Invoices page
- D. Invoices Workarea only
- E. C-level executives
Answer: D
Explanation:
Explanation
Accounts payable specialists can view the list of scanned images for invoice entry, along with the additional routing attributes, in the Scanned Invoices region of the Invoices work area.
References:http://docs.oracle.com/cd/E36909_01/fusionapps.1111/e20375/F569958AN60E65.htm
NEW QUESTION 25
You entered an invoice of 12,000 and paid it for Office Suppliers. The payment was never received by the supplier, and you decide to return the entire order. What should you do?
- A. Cancel the invoice, which debits the liability and credits the expense.
- B. Issue a credit memo, which will debit the liability and credit the expense.
- C. Void the payment, which debits cash and credits the liability, and then cancel the invoice, which debits the liability and credits the expense.
- D. Void the payment, which debits cash and credits the liability, and then issue a credit memo, which debits the liability and credits the expense.
Answer: C
NEW QUESTION 26
What is the invoice type of an unapproved, unmatched invoice that was created in the Supplier Portal?
- A. Supplier payment request
- B. iSupplier Invoice
- C. Standard Invoice
- D. Credit Memo
- E. Standard invoice request
Answer: E
Explanation:
Explanation
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
NEW QUESTION 27
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 28
After you submitted a Payment Process Request, you noticed errors. You want to void the payments. Identify two statements that indicate when it is not possible to void a payment. (Choose two.)
- A. A payment with the status of Issued.
- B. A payment for an invoice with an associated Withholding Tax invoice.
- C. A payment that pays a prepayment that has been applied to an invoice.
- D. A payment that has been accounted and posted to General Ledger.
- E. A payment that has already cleared the bank.
Answer: C,E
Explanation:
Explanation
A: You can't: Void a payment for aprepayment that's applied. You must first unapply the prepayment, then void the payment.
D: If the payment is cleared in cash management then it has to be uncleared first before you can void the payment.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm
NEW QUESTION 29
The expense auditor has chosen to Request More Information for an expense report. Select two ways the system processes this action. (Choose two.)
- A. The employee must resubmit the expense report.
- B. The audit can be completed before the requested information is received from the employee.
- C. The expense report status remains Pending Payables Approval.
- D. The expense report is routed back to the approvers.
Answer: C,D
NEW QUESTION 30
Which reporting tool is used to report on real-time data?
- A. Oracle Financial Reporting Studio
- B. Smart View
- C. Oracle Business Intelligence Publisher
- D. Oracle Transactional Business Intelligence (OTBI)
- E. Essbase Cube
Answer: B
NEW QUESTION 31
Identify two ways the invoice imaging solution works in the Cloud. (Choose two.)
- A. Customers ask their suppliers to scan and email the invoice.
- B. Customers scan and store the invoice images on-premise and attach them during invoice entry.
- C. Customers ask suppliers to send electronic invoices.
- D. Customers scan the invoice on-premise and email the images.
- E. Customers cannot use invoice imaging in the Cloud.
Answer: A,D
NEW QUESTION 32
What is the result of voiding a payment?
- A. A bills payable payment was created but is not yet matured.
- B. A stop payment request has been initiated to the bank.
- C. The payment is reconciled to the bank statement.
- D. The payment is no longer valid.
Answer: D
NEW QUESTION 33
You are using both Procurement and Financials. You want the system to automatically accrue uninvoiced receipts. Select two true statements. (Choose two.)
- A. For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account.
- B. For period end accruals, the invoice accounting debits the expense account and credits the liability account.
- C. For period end accruals, accounting is created at material receipt or at delivery to a final destination.
- D. For period end accruals, the invoice accounting for inventory items debits receipt inventory and credits the uninvoiced receipts.
Answer: A,B
NEW QUESTION 34
Your customer has requested a modification to the payment file to meet the acceptable bank standards. The changes were based on a format of a seeded payment process profile which is already in use. The only changes made are to the field positions. What two steps can make these changes work?
- A. Create a new template to make changes as requested by the bank.
- B. No change in the template is needed as we can achieve this using user-defined validations to move the positions as required.
- C. Copy and modify the existing template to alter the positions as requested by the bank.
- D. Keep the payment process profile and leave the format programs unchanged.
- E. Create a newpayment process profile and a new format program.
- F. Oracle Data Integrator or Golden Gate can be used to map the fields as required.
Answer: A,C
NEW QUESTION 35
Your company policy requires that receipts be attached to expense report items before reimbursement can be made.
Which two statements are true about the association of a receipt to an expense report? (Choose two.)
- A. Receipts are not required if the expense item falls within Per Diem Rates.
- B. Expenses do not create payment requests for expense reports that have missing or overdue receipts.
- C. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.
- D. An expense report may require original, imaged, or both types of receipts.
Answer: B,D
Explanation:
Explanation
Your company periodically schedules and runs the Generate Overdue and Missing Receipts Notification process that generates overdue receipt notifications.
If receipts are overdue and setup requires that the individual be notified, then Expenses automatically sends a notification to the individual to inform him that receipts are overdue.
An expense report may require original, imaged, or both types of receipts.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.htm
NEW QUESTION 36
What two job roles are required to access information within Functional Setup Manager? (Choose two.)
- A. Application Implementation Consultant
- B. Any Functional User
- C. Application Implementation Manager
- D. Functional Setup Manager Superuser
- E. IT Security Manager
Answer: A,C
Explanation:
Explanation
Provision the implementation user with the Application Implementation Manager job role or the Application Implementation Consultant job role by usingthe Security Console Users tab.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FACSF/FACSF1004385.htm
NEW QUESTION 37
Identify three statements that indicate the purpose of Functional Setup Manager.
- A. it allows you to assign setup tasks to individuals with due dates where users must manually update their completion status.
- B. It automatically generates lists of setup tasks in the correct sequence with dependencies highlighted.
- C. It automatically marks the completion status of tasks as Completed once they have been completed.
- D. It provides a central place to access and perform all of the setup steps across the applications.
- E. It allows you to centrally manage the close processes across subledgers and ledgers.
Answer: B,C,D
Explanation:
Explanation
With Oracle Fusion Functional Setup Manager you can:
References:https://docs.oracle.com/cd/E56614_01/common_op/OAFSM/F1166427AN1007E.htm
NEW QUESTION 38
You are resolving payment validation errors during the payment build process. Which two actions can you perform to resolve these errors?
- A. Remove the documents or payments causing the error and resume the payment process.
- B. Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.
- C. Terminate the payment process request.
- D. Run the create accounting program.
- E. Run the invoice validation program.
Answer: A,B
Explanation:
Explanation
Using the Resolve Document Validation Errors Page, you may review the errors and takeaction. You may fix related data, such as third party payee information, and submit the documents for revalidation. You may also remove documents from the Payment Process Request, which sends the documents back to the source product with the validation failure reason, just as rejection does.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e13415/T456136T484670.htm
NEW QUESTION 39
Which two statements are true related to configuration package? (Choose two.)
- A. You can export and import the approval rules from the approval management engine.
- B. You can export and import the custom roles from Oracle Identity Manager.
- C. You can export and import the allocation rules from the allocation manager.
- D. You can export and import selected business object services.
- E. You can export and import selected business units.
Answer: B,D
NEW QUESTION 40
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 41
Which three attributes are captured during the scanning of invoice images?
- A. Invoice Number
- B. Invoice Date
- C. Payment Method
- D. PO Number
- E. Terms Date
Answer: A,B,D
Explanation:
Explanation
For Payables invoice processing, PO number, supplier, invoice number, invoice amount, invoice date, customer taxpayer ID, and business unit are extracted as part of the predefined configurations.
This figure shows the Scanned information tileon the Invoices landing page.
References:http://docs.oracle.com/cd/E36909_01/fusionapps.1111/e20375/F569958AN60E65.htm
NEW QUESTION 42
You created a payment and before it is cashed by the supplier you mistakenly submitted a request to stop payment. Later you canceled the request to stop payment. What is the resulting payment status?
- A. Stop initiated
- B. Canceled
- C. Negotiable
- D. Voided
- E. Cleared
- F. Available
Answer: C
Explanation:
Explanation
To release a stop on a payment:
References:https://docs.oracle.com/cd/A60725_05/html/comnls/us/ap/adjpmt04.htm
NEW QUESTION 43
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