100% Passing Guarantee - Brilliant 1z0-1055-20 Exam Questions PDF [Jan-2022]
1z0-1055-20 Dumps 2022 - NewOracle 1z0-1055-20 Exam Questions
NEW QUESTION 60
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. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.
- 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.
Answer: C,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 61
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's supervisor can manually release the hold.
- B. The expense auditor can manually release the payment hold at his discretion.
- C. Payables Manager can release payment holds in Payables.
- D. Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived.
- E. The employee can manually release the hold.
Answer: B,D
Explanation:
Explanation
Payment holds are released in the following ways:
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.htm
NEW QUESTION 62
Which two statements are true when you are using the Intercompany Reconciliation Reports? (Choose two.)
- A. You can drill down on the links in the Period Summary report to view the balances by Intercompany Organization.
- B. You must run the prepare Intercompany Reconciliation Reporting Information process.
- C. The reports will include Ledger balancing lines generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.
- D. The reports will show the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
- E. The reconciliation period summary report will not show the intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction.
Answer: E
Explanation:
Explanation
A (not C): The Reconciliation Period Summary report displays the intercompany receivables and intercompany payables balances in summary for a period, and any differences between them.
D:Ledger balancing lines generated when the primary balancing segmentvalue is in balance but either the second balancing segment or the third balancing segment is out of balance
NEW QUESTION 63
Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?
- A. Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers.
- B. Define a Tax Status and Rate for Exempt, define a Party Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Party Fiscal Classification.
- C. Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab.
- D. Define a Tax Status and Rate for Exempt, define a Supplier Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification.
Answer: A
NEW QUESTION 64
You have invoices with distributions across primary balancing segments that represent different companies.
What feature should you use if you want the system to automatically balance your invoice's liability amount across the same balancing segments on the invoice distributions?
- A. Intercompany Balancing
- B. Suspense Accounts
- C. Payable's Automatic Offset
- D. Payables' Allow Reconciliation Accounting
- E. Subledger Accounting's Account Rules
Answer: A
Explanation:
Explanation
If you do not enable Automatic Offsets, Payables records the invoice liability using the liability account on the invoice, which defaults from the supplier site. When you distribute invoice distributions across multiple balancing segments, the invoice will not balance by balancing segment. However, General Ledger can automatically create intercompany balancing entries when you post the invoice if you have enabled the Balance Intercompany Journals option for your set of books.
References:https://docs.oracle.com/cd/A60725_05/html/comnls/us/ap/autoff01.htm
NEW QUESTION 65
You are resolving payment validation errors during the payment build process. Which two actions can you perform to resolve these errors?
- A. Run the create accounting program.
- B. Terminate the payment process request.
- C. Run the invoice validation program.
- D. Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.
- E. Remove the documents or payments causing the error and resume the payment process.
Answer: D,E
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 66
You have successfully processed the expense reports for reimbursement and have transferred the information to Payables. What is the next step before you can pay them?
- A. Create a payment process request in Payments.
- B. Create Accounting for the invoice in Payables.
- C. Transfer the data to General Ledger.
- D. Validate the invoice in Payables.
Answer: A
Explanation:
Explanation
Oracle Fusion Expenses provides reimbursement functionality that ensures corporate card issuers and employees are reimbursed for business expenses. Expenses uses Oracle Fusion Payables to process expense reports for reimbursement. To reimburse card issuers and employees, the expense auditor runs the Process Expense Reimbursement process and the corporate card administrator runs the process, Create Corporate Card Issuer Payment Requests. After payment requests are created in Payables, corporate card issuers and employees are paid by Oracle Fusion Payments.
Thisfigure shows the flow of data when the expense auditor runs the Process Expense Reimbursement program.
NEW QUESTION 67
Which three are attributes that are recognized by Invoice Imaging? (Choose three.)
- A. Invoice Date
- B. Invoice Number
- C. Terms Date
- D. Payment Method
- E. PO Number
Answer: A,B,E
NEW QUESTION 68
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 across different currencies and organizations.
- B. A supplier can make changes to the invoice after submitting it.
- C. A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed.
- D. A supplier can validate the invoice after submitting it.
- E. 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.
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 69
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 creates a refund for $225 USD and leaves the invoice unpaid.
- B. The payment process request pays only $200 USD alone.
- C. 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.
- D. 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.
Answer: D
Explanation:
Explanation
When you submit a "payment process request", you can enable the Apply credits up to zero amount payment option. Enablingthe option causes the payment process to apply credits when the credits reduce the payment amount below zero.
The following scenario illustrate the impact of this option.
Credit Amount Greater Than Invoice Amount
An invoice for 200 USD and a credit memofor 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 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_9F438E13CC89BA0CE040D30A68816F7
NEW QUESTION 70
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 PDF, Check output format of PDF
- C. Electronic output format of eText, Check output format of rtf
- D. Electronic output format of Text, Check output format of Text
- E. Electronic output format of DATA (csv), Check output format of Zipped PDFs
Answer: C
Explanation:
Explanation
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
NEW QUESTION 71
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. Copy and modify the existing template to alter the positions as requested by the bank.
- B. Oracle Data Integrator or Golden Gate can be used to map the fields as required.
- C. Create a newpayment process profile and a new format program.
- D. Keep the payment process profile and leave the format programs unchanged.
- E. No change in the template is needed as we can achieve this using user-defined validations to move the positions as required.
- F. Create a new template to make changes as requested by the bank.
Answer: A,F
NEW QUESTION 72
Your company wants to generate intercompany transactions in USD but only if the amount involved is $3,000 USD or more. Which two intercompany system options are valid?
- A. Set the intercompany system option minimum transaction amount to $2,999.99 USD.
- B. Intercompany invoices will be generated for the minimum accountable amount set at the payable invoice options and receivable system options.
- C. Set the intercompany system option minimum transaction amount to $ 3,000 USD.
- D. You cannot update the minimum transaction currency when intercompany currency is entered.
- E. Approval rules need to set the allow of the intercompany transactions to be routed to the receiver or provider.
Answer: B,C
Explanation:
Explanation
Define intercompany system options to set up intercompany processing rules at the enterprise level, based on your specific business needs.
Minimum Transaction Amount
The minimum transaction amount represents a minimum threshold intercompany transaction amount, and prevents the submission of immaterial transactions for small amounts, which are non-value added. In order to implement this rule, you must select a minimum transaction currency for processing intercompany transactions. These two system options must be related to ensure that when comparing a transaction amount to the minimum transaction amount, the two numbers are entered in the same currency, allowing for an accurate comparison.
References:https://docs.oracle.com/cd/E48434_01/fusionapps.1118/e49599/F1110451AN99BEF.htm
NEW QUESTION 73
Which reporting tool is used to report on real-time data?
- A. Oracle Business Intelligence Publisher
- B. Essbase Cube
- C. Oracle Financial Reporting Studio
- D. Smart View
- E. Oracle Transactional Business Intelligence (OTBI)
Answer: D
NEW QUESTION 74
What is the difference between subject areas that append the word "Real Time" and those that do not?
- A. There is no difference.
- B. The "Real Time" subject areas are based on real-time transactions and those that are not, are based on historical data.
- C. The "Real Time" subject areas are based on subledger transactions and the ones that are not are based on general ledger balances.
- D. 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.
Answer: D
Explanation:
Explanation
In Oracle Fusion applications, there are two types of subject areas:
Subject areas whose names usually end with Real Time and access real-time (transactional) data.
Subject areas whose names usually do notend with Real Time and access data warehouse data.
References: https://docs.oracle.com/cloud/farel8/common/OATBI/postinstallation.htm
NEW QUESTION 75
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. one business unit per supplier
- B. five sold-to business units
- C. four requisition business units
- D. twelve business units per supplier
- E. three procurement business units
Answer: E
Explanation:
Explanation
A supplier is modeled as a global entity, meaning it is not created within a business unit or any other organizational context. A procurement business unit establishes a relationship with asupplier through the creation of a site which maintains internal controls for how procure to pay transactions are executed with the supplier. The other entities of the supplier profile capture mostly external information that is provided by the supplier, such as taxidentifiers, addresses, contact information, and so on.
References:https://docs.oracle.com/cd/E51367_01/procurementop_gs/OAPRC/F1007476AN106E5.htm
NEW QUESTION 76
How will system evaluate the tolerances for expense reports?
- A. System will calculate error tolerance as Policy Rate * (1+Warning Tolerance+ Error Tolerance/100).
- B. System will calculate error tolerance as (|Policy Rate * (1+Error Tolerance/100)|) currency precision.
- C. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100)*currency precision.
- D. System will use absolute amount tolerance setup to do validations.
- E. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100).
Answer: A
Explanation:
Explanation
Error: A percentage is used to calculate an error. The error tolerance amount is calculated as follows:
Policy Rate * (1+Error Tolerance/100)
References:https://docs.oracle.com/cd/E60665_01/financialscs_gs/FAIEX/F1456644AN125F2.htm
NEW QUESTION 77
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. Canceled
- E. Cleared
- F. Available
Answer: B
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 78
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