Ultimate Guide to Prepare Free Oracle 1z0-1055-20 Exam Questions & Answer
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Oracle 1z0-1055-20 Exam Syllabus Topics:
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NEW QUESTION 42
You have assigned additional roles to an existing user. However, the new roles are not appearing for the user in their Navigator menu. What should you check?
- A. Make sure you ran the Retrieve Latest LDAP Changes program.
- B. Make sure you can query the user using Oracle Identity Manager (OIM) and the roles are assigned.
- C. Make sure you can query the user from the Manage Users page and verify the roles assigned.
- D. Make sure the user logs out and logs back in.
Answer: A
Explanation:
Explanation
Oracle Identity Management maintains Lightweight Directory Access Protocol (LDAP) user accounts for users of Oracle Fusion Applications. Oracle Identity Management also stores the definitions of abstract, job, and data roles, and holds information about roles provisioned to users.
Most changes to user and role information are shared automatically by Oracle Applications Cloud and Oracle Identity Management. No action is necessary to make this exchange of information happen.
However, you must run the processes Send Pending LDAP Requests and Retrieve Latest LDAP Changes to manage some types of information exchange between Oracle Applications Cloud and Oracle Identity Management.
References:https://docs.oracle.com/cd/E60665_01/common/FASER/FASER1345802.htm
NEW QUESTION 43
The payment build program has completed but with errors.
When submitting the payment process request, which processing option is used to review the error messages from the Manage Payment Process Request Inquiry?
- A. Set the validation failure handling for payments to "stop process for review."
- B. Set the validation failure handling for documents to "show errors."
- C. Enable debug for the payment format program.
- D. Set the validation failure handling for payments to "show errors."
Answer: A
NEW QUESTION 44
You applied a prepayment amount of $5,000 USD to a $10,000 USD invoice. At the time of prepayment, the applicable tax rate was 5% ($250 USD); at the time of invoice creation, the tax rate is 10%. When you set up taxes, you choose to Recalculate Taxes for the Applied Amount Handling option.
How will the resulting tax be calculated?
- A. The tax for the prepayment is recalculated to use the new invoice tax rate that is also used for the invoice line amount. The two generated tax lines show $1,000 USD (10% * 10,000) for the invoice line tax amount and a prepayment tax line of -500 USD (10% * -5000).
- B. The tax calculation creates two tax lines: one for the invoice line amount and one for the prepayment with a negative amount. The two generated tax lines show $1,000 USD (10% * 10,000) for the invoice line tax amount and a prepayment tax line of -250 USD (5% * -5000).
- C. The tax calculated on the prepayment is reversed completely and the tax rateapplied to the invoice line is retained.
- D. The tax for the prepayment is recalculated and the generated tax line amount will be $250 USD (5% *
10,000-5000).
Answer: A
Explanation:
Explanation
When you apply a prepayment to an invoice, the tax rate at the time of prepayment may differ from the tax rate at the time that the prepayment is applied to an invoice. Oracle Fusion Tax considers the tax calculated on the prepayment according to the value assigned to the Applied Amount Handling option in the tax record. The values are Recalculated and Prorated.
For example, you apply a prepayment amount of 5,000 USD to an invoice with a total amount of10,000 USD.
At the time of prepayment, the applicable tax rate was 5% (250 USD tax on the prepayment); at the time of invoice creation, the applicable tax rate is 10%. Tax is calculated in this way:
* Recalculated: The tax is recalculated on the prepayment using the invoice tax rate and the same tax rate is applied to the invoice line amount. The tax calculation creates two tax lines: one for the invoice line amount and one for the prepayment with a negative amount. In the invoice example, the calculationcreates an invoice line amount tax line of 1,000 USD (10% * 10,000 USD) and a prepayment tax line of -500 USD (10% * -5000 USD). This reverses tax calculated on the invoice for the prepayment amount applied. The tax calculated on the prepayment is retained.
* Prorated:Etc.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAFTT/F1006655AN242EE.htm
NEW QUESTION 45
XYZ Supplier has third party relationships defined with ABC Supplier and ACME Corporation. However, when reviewing the invoice installments for XYZ Supplier the payables specialist is 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 Disbursement System Options page for the business unit.
- D. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Payment Options page for the business unit.
Answer: A
NEW QUESTION 46
You have an invoice with a payment term that has the following settings:
* Day of Month = 15
* Cut off Day = 11
* Months Ahead = 0
* Terms Date on Invoice = January 12th
What will the resulting due date for the invoice installment be?
- A. January 15th
- B. March 15th
- C. April 15th
- D. February 15th
Answer: D
NEW QUESTION 47
You have created your first implementation project. You have assigned the Application Implementation Consultant role to your user. However, you are unable to create and add roles to users in Oracle Identity Management (OIM).
This issue is caused because you did not assign the ________.
- A. Superuser role to your user
- B. IT Security Manager role to your user
- C. Application Implementation Manager role to your user
- D. Line Manager role to your user
Answer: C
Explanation:
Explanation
For an implementation to begin, at least one user must be provisioned with the Application Implementation Manager role, and another or the same user must be provisioned with the ApplicationImplementation Consultant role. The Application Implementation Consultant has broad access to set up all enterprise structures.
NEW QUESTION 48
Which three types of payments can you make if you have access to Disbursement Process Management Duty?
(Choose three.)
- A. Ad hoc payments
- B. Customer refunds
- C. Reimbursement of employee expense reports
- D. Employee advances
- E. Supplier payments
Answer: B,C,E
NEW QUESTION 49
A company has a requirement to pay small suppliers outside of Payables, but it does not want to manually record each payment.
Which solution should you implement?
- A. Create payments by using a clearing payment method for thosesuppliers because this payment method does not generate a file.
- B. Create payments by using Electronic Funds Transfer (EFT) for those suppliers but do not send the electronic file to the bank.
- C. Create payments by using the Check Payment method for those suppliers and then destroy those checks.
- D. Create a payment by using a wire payment method for those suppliers.
Answer: D
Explanation:
Explanation
When you create a payment outside of Payables, for example, using a typed check or wire transfer, within Payables you can record the payment and update the invoices that you paid.
NEW QUESTION 50
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 and post a manual journal entry directly into the general ledger.
- B. Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.
- C. 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.
- D. Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.
Answer: B
NEW QUESTION 51
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?
- A. 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. - B. 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. - C. Modify your template to hard code the value "Domestic" for the pay group position.
- D. Define a user validation at the format program to include: Field "Document pay group", condition
"Equal to String", and value "Domestic".
Answer: D
Explanation:
Explanation
User-Defined Validation That Checks a Specific Condition and Value
References:https://docs.oracle.com/cloud/farel9/financialscs_gs/FAIPP/F1469799AN17B6B.htm
NEW QUESTION 52
You have modified your tax setup and want to test the changes on actual Payables transactions. How do you validate before enabling for transaction?
- A. by creating accounting in draft mode
- B. by changing the tax status to test and then entering a payables invoice
- C. Oracle Transactional Business Intelligence (OTBI)
- D. by using Tax Simulator to test
- E. by creating a payable invoice, and by validating and reviewing the tax application
Answer: D
Explanation:
Explanation
Run taxes from all applicable tax regimes against a sample transaction to verify that your tax configuration and tax rules were created and applied according to yourrequirements. You can either create a sample transaction within Tax Simulator or copy an existing transaction. The simulated tax calculations do not affect live data.
Note:The Tax Simulator is a tool for simulating the tax determination process in your tax setup. The Tax Simulator lets you preview the workings of your tax configuration before you perform tax calculations on live transactions in a subledger application. TheTax Simulator also allows you to test new tax configuration in conjunction with existing tax configuration to preview the resulting tax calculation. The Tax Simulator is a useful tool to identify the root cause when tax calculation is not what is expectedon live data.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAFTT/F1006654AN226D8.htm
NEW QUESTION 53
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 subledger transactions and the ones that are not are based on general ledger balances.
- C. The "Real Time" subject areas are based on real-time transactions and those that are not, are based on historical data.
- 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 54
Which reporting tool is used to report on real-time data?
- A. Essbase Cube
- B. Oracle Business Intelligence Publisher
- C. Smart View
- D. Oracle Transactional Business Intelligence (OTBI)
- E. Oracle Financial Reporting Studio
Answer: C
NEW QUESTION 55
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?
- A. Disbursement Bank Account
- B. Payment Terms
- C. Payment Method
- D. Supplier Site
- E. Payment Format
Answer: C
NEW QUESTION 56
Your customer has implemented English as base language and French as a local language. The customer's bank needs the payment file to be sent to them in French. What is the relevant step to do this for preparing the payment template?
- A. Create your template in English language, then upload it to Business Intelligence (BI) under the custom/payment folder, under the templates region. Use English locale and generate the XLIFF file.
Then upload the file back under the translated region. - B. Create your template in English language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with country locale.
- C. Create your template in the local language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region. Use English locale and generate the XLIFF file.
Then upload the file back under the translated region. - D. Create your template in the local language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with English locale.
Answer: A
NEW QUESTION 57
Identify three statements that indicate the purpose of Functional Setup Manager.
- A. it allows you to assign setup tasks to individuals with due dates where users must manually update their completion status.
- B. It provides a central place to access and perform all of the setup steps across the applications.
- C. It automatically marks the completion status of tasks as Completed once they have been completed.
- D. It allows you to centrally manage the close processes across subledgers and ledgers.
- E. It automatically generates lists of setup tasks in the correct sequence with dependencies highlighted.
Answer: B,C,E
Explanation:
Explanation
With Oracle Fusion Functional Setup Manager you can:
References:https://docs.oracle.com/cd/E56614_01/common_op/OAFSM/F1166427AN1007E.htm
NEW QUESTION 58
You want 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. Invoice Approvers
- B. InvoiceApproversParallelParticipantInParallelMode
- C. InvoiceApproversFYIParticipantInParallelMode
- D. InvoiceApproversSingleParticipantInParallelMode
Answer: B
NEW QUESTION 59
Which attributes on the payables invoice can be used during approval rule creation?
- A. company segment, cost center segment, supplier, and Attribute 1 on the invoice line
- B. cost center segment and supplier only
- C. company and cost center segment only
- D. supplier only
Answer: A
NEW QUESTION 60
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. Validate the invoice in Payables.
- D. Transfer the data to General Ledger.
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 61
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 defines when to initiate the payment approval process.
- B. It defines a list of approvers who review payments and make final payment decisions.
- C. It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.
- D. It determines which payments must go through the payment approval process.
- E. It allows approvers to review payments and decide whether or not to approve a payment.
Answer: A,B,C
NEW QUESTION 62
Which three are invoice types that can be entered using the Supplier Portal? (Choose three.)
- A. Non purchase order matched invoices
- B. Purchase order matched invoices
- C. Invoices that are created from the Evaluated Receipt Settlement (ERS) process
- D. Invoices that are automatically created when the supplier creates an ASN for drop shipments
- E. B2B XML invoices
Answer: B,C,E
NEW QUESTION 63
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