Latest Oracle 1Z0-1055-21 Exam questions and answers [Q78-Q101]

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Latest Oracle 1Z0-1055-21 Exam questions and answers

TrainingQuiz 1Z0-1055-21 Exam Practice Test Questions (Updated 142 Questions)

Oracle 1Z0-1055-21 Exam Syllabus Topics:

Topic	Details
Topic 1	Explain the Integrated Imaging Solution Manage Subledger Accounting
Topic 2	Explain Oracle Transactional Business Intelligence (OTBI) Use Business Intelligence Publisher (BIP) Reports
Topic 3	Manage Invoice and Payment Approvals Reporting and Period Close Create and Process Payments
Topic 4	Process expense reimbursements Create and Account for invoices

NO.78 Which is the Payables tool based on real-time data?

Essbase Cube

Smart View

Oracle Transactional Business Intelligence (OTBI)

Oracle Business Intelligence Applications (OBIA)

Oracle Financial Reporting (FR)

NO.79 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.80 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.81 An installment meets all of the selection criteria of a Payment Process Request but it still did not get selected for payment processing. Identify two reasons for this.

The pay-through date is in a closed Payables period.

The pay-through date is in a future period.

The invoices need revalidation.

The invoice has not been accounted.

The installment was manually removed.

NO.82 What is the recommendation when setting up Reconciliation Rule Sets?

One to One rules should be sequenced below rules of other types.

Many to Many rules should always be used last in the sequence.

One to One rules should be sequenced above rules of other types.

Many to Many rules should always be used first in the sequence.

NO.83 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.84 In the implementation project, there is a requirement to add new transactional attributes to the Expense Approver Report workflow notification.
Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.)

The original Source

The Output types

The layout-template

The Data Model

The Style-Template

NO.85 Your customer has requested a modification to the payment file to meet the acceptable bank standards. The changes were based on a format of a seeded payment process profile which is already in use. The only changes made are to the field positions. What two steps can make these changes work?

No change in the template is needed as we can achieve this using user-defined validations to move the positions as required.

Keep the payment process profile and leave the format programs unchanged.

Copy and modify the existing template to alter the positions as requested by the bank.

Create a newpayment process profile and a new format program.

Create a new template to make changes as requested by the bank.

Oracle Data Integrator or Golden Gate can be used to map the fields as required.

NO.86 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?

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

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.

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

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

NO.87 Which three types of payments can you make if you have access to Disbursement Process Management Duty?
(Choose three.)

Reimbursement of employee expense reports

Employee advances

Supplier payments

Customer refunds

Ad hoc payments

NO.88 You have two business units: Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?

Assign the Expense Auditor as the owner of each business unit on the Manage Business Unit Set Assignments page.

Assign the Expense Auditor job role to each auditor and associate the business unit to the role by using the Manage Data Access for Users page.

Assign the Expense Auditor job role to each auditor and use segment value security rules to secure access to the business units.

Assign the Expense Auditor job role to each auditor and use a data access set to associate the business unit to the role.

NO.89 Identify two ways the invoice imaging solution works in the Cloud. (Choose two.)

Customers cannot use invoice imaging in the Cloud.

Customers scan and store the invoice images on-premise and attach them during invoice entry.

Customers ask their suppliers to scan and email the invoice.

Customers ask suppliers to send electronic invoices.

Customers scan the invoice on-premise and email the images.

NO.90 Which attributes on the payables invoice can be used during approval rule creation?

company segment, cost center segment, supplier, and Attribute 1 on the invoice line

company and cost center segment only

supplier only

cost center segment and supplier only

NO.91 What is the difference between subject areas that append the word “Real Time” and those that do not?

The “Real Time” subject areas are based on real-time transactions and those that are not, are based on historical data.

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.

There is no difference.

The “Real Time” subject areas are based on subledger transactions and the ones that are not are based on general ledger balances.

NO.92 You need to submit a 1099 report; your State format has changed slightly since last year. How should you submit your 1099s for the State in the current year?

Manually enter the 1099s for the State and submit.

Generate a 1096 form and submit it instead.

Run and submit your 1099s because it will automatically reflect any changes.

Edit the 1099 template to reflect the changes, and then run and submit the 1099 report.

NO.93 You have modified your tax setup and want to test the changes on actual Payables transactions. How do you validate before enabling for transaction?

by creating accounting in draft mode

by changing the tax status to test and then entering a payables invoice

by creating a payable invoice, and by validating and reviewing the tax application

Oracle Transactional Business Intelligence (OTBI)

by using Tax Simulator to test

NO.94 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?

Make sure the Invoice Number is the same.

Make sure all the invoice dates are the same.

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

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

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

NO.95 You are evaluating the predefined expense report approval rules within your test environment to see if they meet current business requirements.
Which three rule sets are part of the predefined setup? (Choose three.)

Approval by Cost Centre owners in parallel or serial mode

Approval by supervisor based on expenses type amount

Approval by Project Manages in parallel or serial mode

Approval by supervisor based on report amount

Approval by a Group based on report amount in parallel or serial mode

NO.96 Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?

Payables to Ledger Reconciliation report

Payables Aging reports with the General Ledger Trial Balance report

General Ledger Financial Statements and the Accounts Payable and Invoice Registers

Payables Trial Balance and General Ledger Trial Balance reports

NO.97 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?

Make sure you can query the user using Oracle Identity Manager (OIM) and the roles are assigned.

Make sure you can query the user from the Manage Users page and verify the roles assigned.

Make sure you ran the Retrieve Latest LDAP Changes program.

Make sure the user logs out and logs back in.

NO.98 You are resolving payment validation errors during the payment build process. Which two actions can you perform to resolve these errors?

Run the create accounting program.

Run the invoice validation program.

Remove the documents or payments causing the error and resume the payment process.

Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.

Terminate the payment process request.

NO.99 While entering an expense report for your corporate card transactions, you notice that the conversion rate defined in the Manage Conversion Rates and Policies page is not used.
What is the reason?

You did not define conversion rates for your business unit.

You did not specify a default expense template.

Only cash transactions use those settings.

You did not define conversion rates in the General Ledger Cloud.

NO.100 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.

NO.101 Your company policy requires imaged receipts for expense reports.
Which two statements are true about the association of a receipt to an expense report? (Choose two.)

Employees are not reimbursed for expense report expenditures until missing or overdue imaged receipts are submitted.

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.

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