Download Oracle Financials Cloud-Payables 2020 Implementation Essentials.CertDumps.1z0-1055.2020-12-19.1e.80q.vcex

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Exam Oracle Financials Cloud: Payables 2020 Implementation Essentials
Number 1Z0-1055
File Name Oracle Financials Cloud-Payables 2020 Implementation Essentials.CertDumps.1z0-1055.2020-12-19.1e.80q.vcex
Size 74 Kb
Posted December 19, 2020
Downloads 19

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Demo Questions

Question 1
While processing an expense report, the system placed a payment hold on the expense report. What are two ways to release payment holds?

  • A: The employee can manually release the hold.
  • B: The employee’s supervisor can manually release the hold.
  • C: Payables Manager can release payment holds in Payables.
  • D: The expense auditor can manually release the payment hold at his discretion.
  • E: Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived.



Question 2
Which two statements are true when you are using the Intercompany Reconciliation Process?

  • A: Transaction Summary Report will show only transactions with status received.
  • B: The reconciliation period summary report will show the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature. 
  • C: Ledger balancing lines are generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.
  • D: You must run the Extract Intercompany Reconciliation Data job.
  • E: The reconciliation period summary report will not show the intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction.



Question 3
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 12,000 and Credit Liability for 12,000and then
    On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000
    On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000
    On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000
  • B: On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000
  • C: On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000
    On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000
  • D: On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000
    On Jan 10th, Debit Prepaid Expense for 12,000 and Credit Liability for 12,000



Question 4
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 all the invoice dates are the same.
  • B: Assign the same Invoice Header Identifier to multiple invoices you want to group.
  • C: Enable the invoice option Require Invoice Grouping, and the system automatically groups invoices entered in the same spreadsheet.
  • D: Enter a value in the Invoice Group field to group similar invoices into a batch. 
  • E: Make sure the Invoice Number is the same.



Question 5
Which two statements are true about processing corporate card expenses?

  • A: Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses.
  • B: You can process payment for credit card using Electronic funds transfer, check, or wire.
  • C: Usage policy for expense category tolerances does not apply to credit card expenses.
  • D: Conversion rate defaults apply only to cash expenses, not to corporate card expenses.
  • E: Card transactions will be paid directly from Expenses Cloud. 



Question 6
Which two statements about the submission of invoices by suppliers using Supplier Portal are true?

  • A: A supplier can submit a single invoice against multiple purchase orders across different currencies and organizations.
  • B: A supplier can validate the invoice after submitting it.
  • C: A supplier can make changes to the invoice after submitting it.
  • D: A supplier can submit a single invoice against multiple purchase orders, provided the currency and organization for all the invoice items are the same as those on the purchase orders.
  • E: A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed.



Question 7
Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly? 
  

  • A: General Ledger Financial Statements and the Accounts Payable and Invoice Registers
  • B: Payables to Ledger Reconciliation report
  • C: Payables Aging reports with the General Ledger Trial Balance report
  • D: Payables Trial Balance and General Ledger Trial Balance reports



Question 8
Which is the Payables tool based on real-time data?

  • A: Essbase Cube 
  • B: Oracle Financial Reporting (FR)
  • C: Oracle Transactional Business Intelligence (OTBI)
  • D: Smart View
  • E: Oracle Business Intelligence Applications (OBIA)



Question 9
What job roles are required to access information within Functional Setup Manager?

  • A: Application Implementation Manager
  • B: Functional Setup Manager Superuser
  • C: Application Implementation Consultant
  • D: Any Functional User
  • E: IT Security Manager 



Question 10
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: Create Accounting for the invoice in Payables.
  • C: Validate the invoice in Payables.
  • D: Create a payment process request in Payments. 






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