Free Oracle Financials Cloud: Payables 2022 Implementation Professional Exam 1Z0-1055-22 Exam Practice Test

During an expense audit the auditor marks an expense item that is missing a receipt to be Short Paid. They choose to complete the audit and warn the user. Given that the Expense Report Audit Approval is set to After Manager Approval, what two are valid results of the auditor action? (Choose two.)

• New expense report containing disallowed expense items is immediately created.
• Approved part of the expense report is not eligible for expense reimbursement.
• The approved part of the expense report is eligible for expense reimbursement.
• New expense report containing disallowed expense items is not created until manager approves the short payment.

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?

• March 15th
• January 15th
• April 15th
• February 15th

You have two business units: Vision Operations andVision 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 Practice Test Assignments page.
• Assign the Expense Auditor jobrole 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.
• Assignthe Expense Auditor job role to each auditor and use a data access set to associate the business unit to the role.

You are testing the Payables to General Ledger Reconciliation report at the ledger level for your UK Ledger,you have run and selected the extract for the report but the request returned the message no data to display. What is the reason for this?

• You did not specify the range of liability accounts to include in the extract.
• The reconciliation flag has not been enabled for your liability accounts.
• The financial category of Accounts Payable is not assigned to the liability accounts.
• You did not select the business units associated to the UK Ledger.

A company is centralizing their payment processing using the service provider model. Which reporting level has to be used to run the Prepare Payables to General Ledger Reconciliation report?

• Run the Prepare Payables to General Ledger Reconciliation report at Ledger level.
• Run the Prepare Payables to General Ledger Reconciliation report at Business Unit level.
• Running the Prepare Payables to General Ledger Reconciliation report is NOT available when there is a centralized payment processing.
• Run the Prepare Payables to General Ledger Reconciliation report for combination of Ledger and Balancing Segment Value.

Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run? (Choose two.)

• For the Legal Jurisdiction, Legal function: “Generate intercompany invoice” should be assigned.
• Schedule create accounting for the intercompany process.
• Supplier site primary pay flagand customer account bill to primary flag should be enabled.
• Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.
• Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables.
• Manual Approvals should be allowed for the transaction type.

You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid?

• Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero.
• Both the invoice and the credit memo are paid and a refund of $25 USD is created.
• Both the invoice and credit memo are included in the payment process request for a payment amount of $0 US
• Both the invoice and the credit memo are selected and the Payment Process Request requires attention.

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?

• The accounting dates of all unaccounted invoices will be changed to February 20,2018, the same day of the next period.
• The accounting dates of all unaccounted invoices will change to February 28, 2018, the last day of the next period.
• The accounting dates of all unaccounted invoices will remain unchanged at January 20, 2018.
• The accounting dates of all unaccounted invoices will be changed to February 1, 2018, the first day of the next period.

What two job roles are required to access information within Functional Setup Manager? (Choose two.)

• Application Implementation Manager
• Any Functional User
• Application Implementation Consultant
• Functional Setup Manager Superuser
• IT Security Manager

What are the two advantages of using a spreadsheet for correcting invoice import errors? (Choose two.)

• identification of errors with clear errormessages at the invoice header and line levels
• ability to enter a high volume of invoices via a spreadsheet
• ability to correct errors and re-import invoices directly from a spreadsheet
• identification of errors with clear error messages at theinvoice header level only
• ability to correct errors within the spreadsheet and send invoice corrections for approval