Updated Nov-2022 Premium 1z0-1055-22 Exam Engine pdf - Download Free Updated 142 Questions [Q64-Q88]

QUESTION 64
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?

You must provide a start date and an end date for the prepaid expenses in the invoice lines or distributions.

You must provide a start date, an end date, and the accrual account for the prepaid expenses in the invoice lines or distributions.

You must provide a start date and the accrual account for the prepaid expenses in the invoice lines or distributions.

You must provide the accrual account for the prepaid expenses in the invoice lines or distributions.

QUESTION 65
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?

Voided

Negotiable

Stop initiated

Available

Canceled

Cleared

QUESTION 66
What is the invoice type of an unapproved, unmatched invoice that was created in the Supplier Portal?

Standard Invoice

Standard invoice request

Credit Memo

Supplier payment request

iSupplier Invoice

QUESTION 67
You are testing the Payables to General Ledger Reconciliation report at the ledger level for your UK Ledger, you have run and selected the extract for the report but the request returned the message no data to display.
What is the reason for this?

You did not specify the range of liability accounts to include in the extract.

The reconciliation flag has not been enabled for your liability accounts.

The financial category of Accounts Payable is not assigned to the liability accounts.

You did not select the business units associated to the UK Ledger.

QUESTION 68
Which job role has full access to perform all Functional Setup Manager related activities?

Application System Administrator

Any Functional User

Functional Setup Manager Superuser

IT Security Manager

Application Implementation Consultant

QUESTION 69
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?

On Jan 10th, Debit Prepaid Expense for 12,000 and Credit Liability 12,000

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

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

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

QUESTION 70
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.)

Weekly

Monthly

Bimonthly

Biweekly

Annually

QUESTION 71
When reviewing installments, what setup is required to override the supplier site on an invoice?

Allow the remit-to supplier override for third-party payments at Manage Invoice options.

Allow the remit-to supplier address override for third-party payments at Manage Invoice options.

Allow payee to override for third-party payments while Manage Invoice options.

Allow the remit-to supplier override for third-party payments at Manage Payment options.

QUESTION 72
XYZ Supplier has third party relationships defined with ABC Supplier and ACME Corporation. However, when reviewing the invoice installments for XYZ Supplier the payables specialist is unable to override the remit-to supplier name and address on the Invoice installments.
What is the reason for this?

The option ‘Allow remit-to supplier override for third-party payments’ is not checked in the Invoice Options page for the business unit.

The option ‘Allow remit-to supplier override for third-party payments’ is not checked in the Common Options for Payables and Procurement page for the business unit.

The option ‘Allow remit-to supplier override for third-party payments’ is not checked in the Payment Options page for the business unit.

The option ‘Allow remit-to supplier override for third-party payments’ is not checked in the Disbursement System Options page for the business unit.

QUESTION 73
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?

The accounting dates of all unaccounted invoices will be changed to February 20,2018, the same day of the next period.

The accounting dates of all unaccounted invoices will change to February 28, 2018, the last day of the next period.

The accounting dates of all unaccounted invoices will remain unchanged at January 20, 2018.

The accounting dates of all unaccounted invoices will be changed to February 1, 2018, the first day of the next period.

QUESTION 74
Identify three scenarios where you are not allowed to cancel an invoice. (Choose three.)

Prepayments were applied to the invoice.

An accounting entry has been created for the invoice.

The invoice is validated.

The invoice is fully or partially paid.

The invoice was adjusted by a credit or a debit memo.

QUESTION 75
You have 10 ledgers and 30 business units and want to leverage Preference Data Sets. What is the function of Reference Data Sets?

allow you to secure data by business unit

allow you to assign multiple business units to users in a shared service center

allow you to maintain sets of related data in a Data Dictionary

allow you to share reference data, such as payment terms, across multiple business units to avoid redundant setup

QUESTION 76
You have assigned additional roles to an existing user. However, the new roles are not appearing for the user in their Navigator menu. What should you check?

Make sure you can query the user using Oracle Identity Manager (OIM) and the roles are assigned.

Make sure you can query the user from the Manage Users page and verify the roles assigned.

Make sure you ran the Retrieve Latest LDAP Changes program.

Make sure the user logs out and logs back in.

QUESTION 77
Which three are valid reasons why you cannot close your Payables period? (Choose three.)

Bills payable requiring maturity

Unaccounted invoices and payments

Suppliers on payment holds

Unapplied prepayments

Incomplete payment files

QUESTION 78
In the Business Intelligence Publisher (BIP) report layout properties page, when you click Extract Translation, the BIP publisher extracts the translatable strings from the BIP report template and exports them into which
format?

.doc (Word file)

.pdf (Acrobat reader file)

.xls (Excel file)

.xlf (XLIFF file)

QUESTION 79
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.)

Both the invoice and the credit memo are included in the Payment Process Request.

Neither the invoice nor the credit memo is included in the Payment Process Request.

Both the invoice and the credit memo are fully paid.

Only the invoice is paid fully but the credit memo is partially paid with a credit of ($100) USD remaining.

QUESTION 80
Which attributes on the payables invoice can be used during approval rule creation?

company segment, cost center segment, supplier, and Attribute 1 on the invoice line

company and cost center segment only

supplier only

cost center segment and supplier only

QUESTION 81
You have evaluated the use of Oracle Maps Cloud service with Expenses for mileage calculation. The decision is to use this feature.
How do you enable the feature?

Set the profile option ORA_EXM_ORACLE_MAPS to yes at the site level.

Set Enable Oracle Maps to yes in the expense mileage policies.

Set Enable Oracle Maps to yes in the expense report template.

Set Enable Oracle Maps to yes in the expenses system options.

QUESTION 82
A Payables user creates a manual invoice and a Withholding Tax Classification Code defaults on the invoice line when the invoice is saved.
Where does this Withholding Tax Classification Code default from?

From the Party Tax Profile of the Third Party Site

From the Manage Tax Reporting and Withholding Tax Options

From the Income Tax region of the Supplier

From the Site Assignments of the Supplier Site

QUESTION 83
Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?

The user needs to specify which payment term to use.

The payment term of the purchase order overrides the invoice payment term.

The payment term of the invoice overrides the purchase order payment term.

The purchase order payment term cannot be overridden.

The user needs to manually change the payment term on the invoice to match the purchase order payment term.

QUESTION 84
When submitting the Payables to General Ledger Reconciliation report, the extract did not select any dat
a. What should you check?

Make sure you assign an Account parameter when running the extract to include liability accounts.

Make sure you specified a Business Unit in the parameters when running the extract.

Make sure you enabled the Reconciliation flag to all of your liability natural account values.

Make sure you assigned a Financial Category of Accounts Payable to all your liability natural account values.

QUESTION 85
During your business trip to the UK, you took a taxi ride and paid for it by using your personal Visa credit card. While entering your expenses, you get a warning that a different conversion rate was applied to the taxi expense by Visa that the one used by your company.
How do you handle this situation?

Do not enter the taxi expense and call your Finance Department so that they can make changes in the conversion rate settings and you do not violate the allowable limit.

Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then, wait to get a revised statement.

Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a different conversion rate.

Use the corporate-defined conversion rate even if it means you will not be reimbursed fully.

QUESTION 86
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.)

The employee can manually release the hold.

Payables Manager can release payment holds in Payables.

The employee’s supervisor can manually release the hold.

The expense auditor can manually release the payment hold at his discretion.

Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived.

QUESTION 87
You have a high volume of invoices to enter that have similar lines and do not require extensive validation. What must you do if you want to group multiple invoices in a batch during spreadsheet entry?

Make sure the Invoice Number is the same.

Make sure all the invoice dates are the same.

Assign the same Invoice Header Identifier to multiple invoices you want to group.

Enable the invoice option Require Invoice Grouping, and the system automatically groups invoices entered in the same spreadsheet.

Enter a value in the Invoice Group field to group similar invoices into a batch.

QUESTION 88
A company has three legal entities each with a corresponding business unit all within the same country. All organizations buy and sell the same products. You are configuring the tax setup.
What is the minimum number of Tax Regimes you need to configure for this company?

2

6

1

3