1Z0-1055-22 Online Practice Questions and Answers

What is the invoice type of an unapproved, unmatched invoice that wascreated in the Supplier Portal?

A. Standard Invoice

B. Standard invoice request

C. Credit Memo

D. Supplier payment request E. iSupplier Invoice

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.

Which two statements are true related to configuration package? (Choose two.)

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

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

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

D. You can export and import selected business units.

E. You can export and import selected business object services.

XYZ Supplier has third party relationships defined with ABC Supplier and ACME Corporation. However, when reviewing the invoice installments for XYZ Supplier the payables specialistis unable to override the remit-to supplier name and address on the Invoice installments.

What is the reason for this?

A. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Invoice Options page for the business unit.

B. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Common Options for Payables and Procurement page for the business unit.

C. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Payment Options page for the business unit.

D. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Disbursement System Options page for the business unit.

You are using the Payable'sDeferred 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 4,000On 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 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

D. On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for4,000On Jan 10th, Debit Rental Expense for 12,000 and Credit Cash for 12,000

You need to have your 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.

Which two are valid methods to achieve this? (Choose two.)

A. Choose the 'All Lines' option from the Allocate menu in the invoice line area.

B. Define a distribution set and assign it to the supplier.

C. Define a distribution set and assign it manually to the invoice.

D. Define a payment term and assign it to the invoice.

A Payablessupervisor 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 CurrencyUSD, 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

An Office supplies company requires an advance payment of $8000 for the office supplies you wish to order. You enter and pay a prepayment type invoice for $8000. You enter the standard invoice to book the expense which totals $10000and you apply the prepayment to the standard invoice.

What are the accounting entries for that standard invoice with the prepayment application?

A. Invoice accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.The prepayment application has no impact on the Invoice.

B. Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application

-Dr AP Liability 8000 Cr Prepayment Account 8000.

C. Invoice Accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr Expense Account 8000 Cr Prepayment Account 8000.

D. Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application

-Dr AP Liability Account 2000 Cr Prepayment Account 2000.

A companyhas 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

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.