Oracle Fusion AP 1Z0-1055-22 Exam / 3

What is the difference between subject areas that append the word “Real Time” and those that do not?. A. The “Real Time” subject areas are based on real-time transactions and those that are not, are based on historical data. B. The “Real Time” subject areas are based on real-time transactions in the applications, and those that are not, are based on data stored in the Oracle Business Intelligence Applications data warehouse. C. There is no difference. D. The “Real Time” subject areas are based on subledger transactions and the ones that are not are based on general ledger balances.

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.). A. Both the invoice and the credit memo are included in the Payment Process Request. B. Neither the invoice nor the credit memo is included in the Payment Process Request. C. Both the invoice and the credit memo are fully paid. D. Only the invoice is paid fully but the credit memo is partially paid with a credit of ($100) USD remaining.

The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct? (Choose three.). A. All related interest invoices are reversed if previously created. B. Any previous accounting and payment records for an invoice are reversed. C. All related withholding tax invoices are automatically voided. D. Any realized gain or loss previously calculated is reversed. E. Voiding the payment automatically places an invoice on hold.

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

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. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report. B. Receipts are not required if the expense item falls within Per Diem Rates. C. Expenses do not create payment requests for expense reports that have missing or overdue receipts. D. An expense report may require original, imaged, or both types of receipts.

"You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid?". A. Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero. B. Both the invoice and the credit memo are paid and a refund of $25 USD is created. "C. Both the invoice and credit memo are included in the payment process request for a payment amount of $0 USD. The credit memo is partially paid with a remaining credit of $25 USD.". D. Both the invoice and the credit memo are selected and the Payment Process Request requires attention.

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.). A. The employee can manually release the hold. B. Payables Manager can release payment holds in Payables. C. The employee’s supervisor can manually release the hold. D. The expense auditor can manually release the payment hold at his discretion. E. Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived.

Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?. A. Payables to Ledger Reconciliation report. B. Payables Aging reports with the General Ledger Trial Balance report. C. General Ledger Financial Statements and the Accounts Payable and Invoice Registers. D. Payables Trial Balance and General Ledger Trial Balance reports.

"You need to have an invoice line automatically distributed across multiple cost centers. For example, you want your monthly utility bill allocated across multiple cost centers based on a percentage." Select two methods to achieve this. (Choose two.). A. Configure Subledger Accounting rules to allocate costs. B. Define a distribution set and assign it manually to the invoice. C. Choose the ‘All Lines’ option from the Allocate menu in the invoice line area. D. Define a distribution set and assign it to the supplier.

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.

"An invoice for $200 USD and a credit memo for $225 USD are due for payment and the “Apply 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.

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.

"Your customer matches their invoices to a purchase order and have noticed that the payment terms are defaulting from the order. For some suppliers, they would like to use the payment terms from the supplier site." How can the customer achieve this?. A. Enter the payment terms in the Manage Payment Options page so they default onto the invoice. B. Enter the payment terms at the Supplier level so they default onto the invoice. C. Enter the payment terms at the supplier site level so they default onto the invoice. D. Manually override the payment terms that have defaulted from the purchase order for those suppliers. E. Enter the payment terms in the Manage Invoice Options page so they default onto the invoice.

Which two statements about the submission of invoices by suppliers using Supplier Portal are true? (Choose two.). A. A supplier can make changes to the invoice after submitting it. B. A supplier can submit a single invoice against multiple purchase orders across different currencies and organizations. C. 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. D. A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed. E. A supplier can validate the invoice after submitting it.

Before you can configure payment approval rules, your company must define a payment approval policy. Which three are done by the payment approval policy? (Choose three.). A. It allows approvers to review payments and decide whether or not to approve a payment. B. It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group. C. It defines a list of approvers who review payments and make final payment decisions. D. It defines when to initiate the payment approval process. E. It determines which payments must go through the payment approval process.

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. Voided. B. Negotiable. C. Stop initiated. D. Available. E. Canceled. F. Cleared.

You have three procurement business units, four requisition business units and five sold-to business units. For which will the supplier registration flows be deployed?. A. three procurement business units. B. one business unit per supplier. C. five sold-to business units. D. four requisition business units. E. twelve business units per supplier.

Which attributes on the payables invoice can be used during approval rule creation?. A. company segment, cost center segment, supplier, and Attribute 1 on the invoice line. B. company and cost center segment only. C. supplier only. D. cost center segment and supplier only.

Identify three scenarios where you are not allowed to cancel an invoice. (Choose three.). A. Prepayments were applied to the invoice. B. An accounting entry has been created for the invoice. C. The invoice is validated. D. The invoice is fully or partially paid. E. The invoice was adjusted by a credit or a debit memo.

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?. A. Insert the syntax <?if:VENDOR_NAME= ‘COMPANY A’?> before the Supplier field on the template. Then, enter the <?end if?> tag after the invoices table. B. Insert the syntax <?if:condition?> before the Supplier field and then enter the closing tag </<?if:condition?>. C. Insert the syntax <?if:’COMPANY A’?> before the Supplier field and then enter the closing tag </<?if:COMPANY A?> after the invoices table. D. Hard code Supplier Name “Company A” in the report template and only invoices for that supplier will be displayed.

You are evaluating the predefined expense report approval rules within your test environment to see if they meet current business requirements. Which three rule sets are part of the predefined setup? (Choose three.). A.  Approval by Cost Centre owners in parallel or serial mode. B.  Approval by supervisor based on expenses type amount. C Approval by Project Manages in parallel or serial mode. D. Approval by supervisor based on report amount. E. Approval by a Group based on report amount in parallel or serial mode.

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?. A.  From the Party Tax Profile of the Third Party Site. B.  From the Manage Tax Reporting and Withholding Tax Options. C From the Income Tax region of the Supplier. D. From the Site Assignments of the Supplier Site.

During an expense audit the auditor marks an expense item that is missing a receipt to be Short Paid. They choose to complete the audit and warn the user. Given that the Expense Report Audit Approval is set to After Manager Approval. what two are valid results of the auditor action? (Choose two.). A. New expense report containing disallowed expense items is immediately created. B. Approved part of the expense report is not eligible for expense reimbursement. C. The approved part of the expense report is eligible for expense reimbursement. D. New expense report containing disallowed expense items is not created until manager approves the short payment.

"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?. A. 2. b.6. C.1. D.3.

A company is centralizing their payment processing using the service provider model. Which reporting level has to be used to run the Prepare Payables to General Ledger Reconciliation report?. A.Run the Prepare Payables to General Ledger Reconciliation report at Ledger level. B.Run the Prepare Payables to General Ledger Reconciliation report at Business Unit level. C.Running the Prepare Payables to General Ledger Reconciliation report is NOT available when there is a centralized payment processing. D.Run the Prepare Payables to General Ledger Reconciliation report for combination of Ledger and Balancing Segment Value.

Which two are true for Payables Payment Terms? (Choose two.). A.When entering an Invoice, you will see Payment Terms assigned to the reference data set associated with the Business unit on the invoice plus those associated with the common set. B.You must assign the predefined payment term Immediate to the reference data set that is assigned to the business unit before you can define common options for Payables and Procurement. C.When entering an Invoice, you will see Payment Terms assigned to the reference data set associated with the Business unit on the invoice but not those associated with the common set. D.Each payment term can only be assigned to one reference data set.

Which data is visible to a Payables user in the Payables to General Ledger Reconciliation report?. A.Data for all business units and one balancing segment in the ledger. B.Data for authorized business units only; no GL data is visible. C.Data for all business units and all balancing segments in the ledger. D. Data for authorized business units and GL data for all balancing segments in the ledger (unless restricted).

A Payables supervisor wants to apply a prepayment to an invoice. Which combination of invoice and payment currencies allow the application of a prepayment to an invoice?. A.Standard Invoice: Invoice Currency USD, Payment Currency GBP Prepayment: Invoice Currency USD, Payment Currency AUD. B.Standard Invoice: Invoice Currency USD, Payment Currency USD Prepayment: Invoice Currency CAD, Payment Currency CAD. C.Standard Invoice: Invoice Currency CAD, Payment Currency GBP Prepayment: Invoice Currency USD, Payment Currency AUD. D.Standard Invoice: Invoice Currency USD, Payment Currency CAD Prepayment: Invoice Currency CAD, Payment Currency CAD.

In the implementation project, there is a requirement to add new transactional attributes to the Expense Approver Report workflow notification. Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.). A.The original Source. B.The Output types. C.The layout-template. D.The Data Model. E.The Style-Template.

Which three options are available to filter data when you submit the Prepare Payables to Ledger Reconciliation report? (Choose three.). A.Ledger Set. B.Supplier. C.Balancing Segment Value. D.Business Unit. E.Natural Account. F.Legal Entity.

Your client is concerned that all expense reports are getting automatically approved by the expenses system despite the setup of an Audit Selection Rule. What is the reason for this?. A.The audit selection rule has not been assigned in the system options page. B.The audit selection rule has not been assigned to the legal entity. C.Auditing has not been enabled in the system options page. D.An expenses template and type rule has not been setup. E.The audit selection rule has not been assigned to the business unit.

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?. A.Set the profile option ORA_EXM_ORACLE_MAPS to yes at the site level. B.Set Enable Oracle Maps to yes in the expense mileage policies. C.Set Enable Oracle Maps to yes in the expense report template. D.Set Enable Oracle Maps to yes in the expenses system options.

An installment meets all the selection criteria of a Payment Process Request, but it still does not get selected for payment processing. What are the two reasons for this? (Choose two.). A.The pay-through date is in a closed Payables period. B.The pay-through date is in a future period. C.The invoice needs re-validation. D.The invoice requires approval. E. The invoice has not been accounted.