[Apr 18, 2023] Fully Updated Free Actual Oracle 1z0-1055-22 Exam Questions [Q28-Q52]

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[Apr 18, 2023] Fully Updated Free Actual Oracle 1z0-1055-22 Exam Questions

Free 1z0-1055-22 Questions for Oracle 1z0-1055-22 Exam [Apr-2023]

Oracle 1z0-1055-22 Exam Syllabus Topics:

Topic	Details
Topic 1	Explain the Close process Manage Expense Approval Reporting and Period Close
Topic 2	Create and Process Payments Audit Expense Reports
Topic 3	Use Business Intelligence Publisher (BIP) Reports Explain the Integrated Imaging Solution
Topic 4	Explain Bank Reconciliations Configure Payables and Payments

NO.28 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.)

The invoices are placed on payment hold.

The status of each payment in the payment file is Terminated.

The status of the payment file is Terminated.

The status of each payment in the payment file is Cancelled and the related documents are available for future selection.

The status of the payment file is Cancelled.

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

NO.29 Which three are invoice types that can be entered using the Supplier Portal? (Choose three.)

Invoices that are automatically created when the supplier creates an ASN for drop shipments

B2B XML invoices

Non purchase order matched invoices

Invoices that are created from the Evaluated Receipt Settlement (ERS) process

Purchase order matched invoices

NO.30 Which two statements are true related to configuration package? (Choose two.)

You can export and import the custom roles from Oracle Identity Manager.

You can export and import the allocation rules from the allocation manager.

You can export and import the approval rules from the approval management engine.

You can export and import selected business units.

You can export and import selected business object services.

NO.31 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 Self-Service Service Provider Model

a Dedicated Service Provider model

Business Unit Security

a Dedicated and Self-Service Service Provider Model

NO.32 Which three are Invoice Header attributes that can be used during invoice approval rule creation? (Choose three.)

Business Unit Name

Pay Group Lookup Code

Statistical Amount

Requester Name

Accounting Date

NO.33 The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct? (Choose three.)

All related interest invoices are reversed if previously created.

Any previous accounting and payment records for an invoice are reversed.

All related withholding tax invoices are automatically voided.

Any realized gain or loss previously calculated is reversed.

Voiding the payment automatically places an invoice on hold.

D: When you void a payment, Payables automatically reverses the accounting and
payment records so your general ledger will have the correct information, and so the status of the
paid invoices is reset to Unpaid. Payables also reverses any realized gains or losses on foreign
currency invoices recorded as paid by the payment.
B: If you withhold taxes at payment time and you void a payment that paid an invoice with an
associated withholding tax invoice, then Payables automatically creates a negative (reversing)
invoice for the tax authority supplier to offset the amount of the tax withholding invoice. You
determine when you withhold taxes by selecting the Apply Withholding Tax option in the Payables Options page.
References: Oracle Payables User’s Guide, Voiding Payments Using the Payments Window

NO.34 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.)

It allows approvers to review payments and decide whether or not to approve a payment.

It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.

It defines a list of approvers who review payments and make final payment decisions.

It defines when to initiate the payment approval process.

It determines which payments must go through the payment approval process.

NO.35 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.

Run the Payables Unaccounted Transactions Sweep program to transfer unaccounted transactions from one accounting period to another. If your accounting practices permit it, use this program to change the accounting date of the transactions to the next open period.
The program transfers unaccounted transactions to the period you specify by updating the accounting dates to the first day of the new period.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011880AN1B948.htm

NO.36 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?

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.

Insert the syntax <?if:condition?> before the Supplier field and then enter the closing tag </<?if:condition?>.

Insert the syntax <?if:’COMPANY A’?> before the Supplier field and then enter the closing tag </<?if:COMPANY A?> after the invoices table.

Hard code Supplier Name “Company A” in the report template and only invoices for that supplier will be displayed.

Use an if statement to define asimple condition; for example, if a data field is a specific value.
Insert the following syntax to designate the beginning of the conditional area.
<?if:condition?>
Insert the following syntax at the end of the conditional area: <?end if?>.
References:https://isu.ifmo.ru/docs/XMLP/help/en_US/htmfiles/B25951_01/T421739T421743.htm

NO.37 You want your expense auditors to audit only expenses reports for specific business units. How do you do this?

Create your own audit extension rules that correspond to the business unit.

Assign the auditors’ specific data roles for the corresponding business units.

Create a custom duty role and assign the data roles to each auditor.

Make auditors the managersof the corresponding business unit to route expense reports properly.

You can enable expense auditors to audit expense reports for specific business units by assigning them specific expense auditor data roles for the business units. For example,to allow an expense auditor to audit expense reports for the Vision Operations and Vision Services business units, assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles, respectively, to the expense auditor.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.htm

NO.38 Your client wants to retrieve values for the account code based on the invoice line description. For example, Invoice Line Description = Laptop then Account Code = 5670.
Which Subledger Accounting option would you use to achieve this?

Mapping Set

Description Rule

Supporting References

Event Class Settings

Transaction References

If you’re matching to a purchase order and don’t enter a value, the import process uses the item description from the purchase order line.

NO.39 Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?

Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers.

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.

Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab.

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.

NO.40 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

NO.41 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.)

Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.

Receipts are not required if the expense item falls within Per Diem Rates.

Expenses do not create payment requests for expense reports that have missing or overdue receipts.

An expense report may require original, imaged, or both types of receipts.

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

NO.42 Your customer has an electronic payment format program in use and wants all the documents to use the pay group “Domestic”. What should you do to achieve this?

Define a user validation at the format program to include: Field “Document pay group”, condition “Equal to String”, value “Domestic”, and Field “Document pay group”, condition “Required” and value – not applicable.

Define a user validation at the format program to include: Field “Document pay group”, condition “Equal to String”, and value “Domestic”.

Modify your template to hard code the value “Domestic” for the pay group position.

Define a user validation at the formatprogram to include: Field “Document pay group”, condition “Equal to String”, value “Domestic”, and Field “Format Program Code”, condition “Equal to String” and value – as desired.

User-Defined Validation That Checks a Specific Condition and Value

References:https://docs.oracle.com/cloud/farel9/financialscs_gs/FAIPP/F1469799AN17B6B.htm

NO.43 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.

Create a mileage policy, optionally include a commute deduction rule, and then assign the mileage policy to an expense type to activate the policy.

NO.44 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?

SingleTypeParticipantInParallelModeRuleSet

FyiTypeParticipantInParallelModeRuleSet

InvoiceApprovalRuleSet

ParallelTypeParticipantInParallelModeRuleSet

NO.45 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

To release a stop on a payment:
References:https://docs.oracle.com/cd/A60725_05/html/comnls/us/ap/adjpmt04.htm

NO.46 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.

Why can’t I cancel an invoice?
The invoice is:
Additional reasons thatyou can’t cancel an invoice are as follows:
You can cancel any unapproved invoice, or an approved invoice that does not have anyeffective payments or posting holds.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011878.htm#FAPPP1011878

NO.47 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

NO.48 Which component is not included in the security architecture for credit card data and bank account data encryption?

Oracle Wallet

Supplier master encryption key

Sensitive data encryption and storage

Payments subkeys

Payments master encryption key

NO.49 Which three are attributes that are recognized by Invoice Imaging? (Choose three.)

Terms Date

Payment Method

Invoice Date

PO Number

Invoice Number

NO.50 Your client company wants to ensure that the payments they are sending to their financial institution are valid and formatted correctly. They would like to identify any validation failures as early in the process as possible.
Where would you suggest the validations are set?

Supplier Site

Payment Method

Payment Format

Payment Terms

Disbursement Bank Account

NO.51 Identify three statements that indicate the purpose of Functional Setup Manager.

It allows you to centrally manage the close processes across subledgers and ledgers.

it allows you to assign setup tasks to individuals with due dates where users must manually update their completion status.

It automatically marks the completion status of tasks as Completed once they have been completed.

It automatically generates lists of setup tasks in the correct sequence with dependencies highlighted.

It provides a central place to access and perform all of the setup steps across the applications.

With Oracle Fusion Functional Setup Manager you can:
References:https://docs.oracle.com/cd/E56614_01/common_op/OAFSM/F1166427AN1007E.htm

NO.52 Which three options are available to filter data when you submit the Prepare Payables to Ledger Reconciliation report? (Choose three.)

Ledger Set

Supplier

Balancing Segment Value

Business Unit

Natural Account

Legal Entity

Typically General Ledger users are secured by data access sets. Data access sets use primary balancing segment values to secure access to ledgers, ledger sets, and portions of ledgers. Payables users are secured
by business units.
For the Payables to General Ledger Reconciliation report:
General Ledger users can see general ledger data for the balancing segment values in their data access set. General Ledger users can also see the Payables or Oracle Fusion Subledger Accounting data for all
business units linked to the ledger.
Payables users can see the Payables and Subledger Accounting data for business units in their security definition. Payables users can also see general ledger data for all balancing segment values in the ledger.

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[Apr 18, 2023] Fully Updated Free Actual Oracle 1z0-1055-22 Exam Questions [Q28-Q52]

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