1Z0-1055-21 Online Practice Questions and Answers

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

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

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

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

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

How will system evaluate the tolerances for expense reports?

A. System will calculate error tolerance as (|Policy Rate * (1+Error Tolerance/100)|) currency precision.

B. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100)*currency precision.

C. System will calculate error tolerance as Policy Rate * (1+Warning Tolerance+ Error Tolerance/100).

D. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100).

E. System will use absolute amount tolerance setup to do validations.

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

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.

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.

A Bill Payable document was paid but has not yet matured. What is the status of the payment?

A. In Transit

B. Cleared

C. Negotiable

D. Issued

You purchased a computer from Company A for 2000 USD. Company B ships you the computer with freight charges of 100 USD. You would like the cost of the computer to include those freight charges. How can you achieve this?

A. Choose Match to Receipt.

B. Enter the Invoice manually and add the freight line.

C. Choose to Match to Receipt Charges.

D. Choose to Match to Invoice Lines.

E. Choose to Match in full to the Purchase Order.

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?

A. SingleTypeParticipantInParallelModeRuleSet

B. FyiTypeParticipantInParallelModeRuleSet

C. InvoiceApprovalRuleSet

D. ParallelTypeParticipantInParallelModeRuleSet

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. a Self-Service Service Provider Model

B. a Dedicated Service Provider model

C. Business Unit Security

D. a Dedicated and Self-Service Service Provider Model

What is the name of the Work Area that is used to access Functional Setup Manager?

A. Functional Work Area

B. Functional Setup Manager

C. Customization Manager

D. Setup and Maintenance

E. Customize Setup and Maintenance