Oracle 1Z0-1055-24 Exam Real Questions

Prepare and pass your Oracle Financials Cloud: Payables 2024 Implementation Professional with free 1Z0-1055-24 exam questions.

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Total 142 Questions | Updated On: Oct 10, 2024

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Question 1

A company has three legal entities each with a corresponding business unit all within the same country. All organizations buy and sell the same products. You are configuring the tax setup.
What is the minimum number of Tax Regimes you need to configure for this company?

A : 2

B : 6

C : 1

D : 3

Answer: D

Question 2

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

A : Bills payable requiring maturity

B : accounted invoices and payments

C : ppliers on payment holds

D : applied prepayments

E : Incomplete payment files

Answer: A,B

Question 3

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

D : fine 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 4

Which attributes on the payables invoice can be used during approval rule creation?

A : mpany segment, cost center segment, supplier, and Attribute 1 on the invoice line

B : mpany and cost center segment only

C : supplier only

D : t center segment and supplier only

Answer: A

Question 5

Which two statements are true about the Invoice Validation process? (Choose two.)

A : ens the relevant accounting period

B : lidates project information

C : dates supplier balances

D : creates tax lines and distributions

E : eates accounting entries in draft

Answer: B,D

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Total 142 Questions | Updated On: Oct 10, 2024

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