1Z0-1005 Online Practice Questions and Answers

You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?

A. Enter the invoice via a spreadsheet. Then, from the Manage Invoices page, query the invoice, validate it, create accounting, and then open general ledger's Manage Journals page and post the associated invoice journal entry.

B. Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.

C. Enter and post a manual journal entry directly into the general ledger.

D. Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.

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. Transfer the data to General Ledger.

B. Validate the invoice in Payables.

C. Create a payment process request in Payments.

D. Create Accounting for the invoice in Payables.

In what order should the import process be run when importing suppliers?

A. Supplier, Supplier Site Contacts, Supplier Site, Supplier Site Assignment

B. Supplier, Supplier Address, Supplier Site, Supplier Site Assignments

C. Supplier, Supplier Site Assignment, Supplier Site, Supplier Contacts

D. any order

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?

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

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

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

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

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 invoices are placed on payment hold.

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

C. The status of the payment file is Terminated.

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

E. The status of the payment file is Cancelled.

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?

A. Make sure the Invoice Number is the same.

B. Make sure all the invoice dates are the same.

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

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

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

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?

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

B. On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000 On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000

C. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000 and then On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000 On Feb 28th, 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 4,000

D. On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000 On Jan 10th, Debit Rental Expense for 12,000 and Credit Cash for 12,000

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.

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.

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