Free Online Oracle 1Z0-1055-23 Practice Test

Prepare Your Oracle 1Z0-1055-23 Exam Questions with Free online 1Z0-1055-23 Practice Test. Get Brilliant Oracle Financials Cloud: Payables 2023 Implementation Professional Exam Results with Valid 1Z0 1055 Exam Dumps.

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Total 142 Questions | Updated On: Apr 22, 2024

Question 1

Which data is visible to a Payables user in the Payables to General Ledger Reconciliation report?

A : Data for all business units and one balancing segment in the ledger

B : Data for authorized business units only; no GL data is visible

C : Data for all business units and all balancing segments in the ledger

D : Data for authorized business units and GL data for all balancing segments in the ledger (unless restricted)

Answer: A

Question 2

Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?

A : The user needs to specify which payment term to use.

B : The payment term of the purchase order overrides the invoice payment term.

C : The payment term of the invoice overrides the purchase order payment term.

D : The purchase order payment term cannot be overridden.

E : The user needs to manually change the payment term on the invoice to match the purchase order payment term.

Answer: C

Question 3

Which three are valid reasons why you cannot close your Payables period? (Choose three.)

A : Bills payable requiring maturity

B : Unaccounted invoices and payments

C : Suppliers on payment holds

D : Unapplied prepayments

E : Incomplete payment files

Answer: A,B

Question 4

Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?

A : Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers.

B : Define a Tax Status and Rate for Exempt, define a Party Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Party Fiscal Classification.

C : Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab.

D : Define a Tax Status and Rate for Exempt, define a Supplier Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification.

Answer: D

Question 5

Which two are true for Payables Payment Terms? (Choose two.)

A : When entering an Invoice, you will see Payment Terms assigned to the reference data set associated with the Business unit on the invoice plus those associated with the common set.

B : You must assign the predefined payment term Immediate to the reference data set that is assigned to the business unit before you can define common options for Payables and Procurement.

C : When entering an Invoice, you will see Payment Terms assigned to the reference data set associated with the Business unit on the invoice but not those associated with the common set.

D : Each payment term can only be assigned to one reference data set.

Answer: A,B

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Total 142 Questions | Updated On: Apr 22, 2024