Free Oracle 1Z0-342 Exam Questions

Become Oracle Certified with updated 1Z0-342 exam questions and correct answers

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Total 165 Questions | Updated On: Jan 28, 2026

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Question 1

Which three statements are accurate when entering the GL Distribution account coding on an invoice with taxes?

A : If the account is not set up as taxable and you enter a 1 in the Track Taxes field, the system automatically changes the value to 0.

B : The system updates the F0016R tax table with tax information for the account if the Track Taxes field is populated.

C : The system automatically updates the Track Taxes field to 1 if the account Is set up as taxable and at least one pay item on the invoice has taxes.

D : If you do not want to track taxes for the account, change the value in the Track Taxes field to 0.

E : The Track Taxes field cannot be edited unless the Processing Option - Allow Tax Tracking Is flagged on

Answer: A,B,C

Question 2

What two ways can a user access the submitted jobs?

A : by entering 'BV' in the fastpath of a Web Client and selecting a form exit

B : by typing 'Jobs' in the fastpath of a Web Client D C) by selecting Submitted Jobs from the menu

C : by taking a form exit from the Address Book

D : by selecting 'My System Profile' from the menu

Answer: A,D

Question 3

What three conditions must exist In order for one to use the Composite Application Framework?

A : You should have access to the content in the layout.

B : You should have access to Object Management Workbench (OMW).

C : You should have the permission to publish content.

D : You should be enabled to view the layout of the Composite Application Framework.

E : Your Enterprise One preferences should have the Show Layout option selected.

Answer: C,D,E

Question 4

Which of the following statements is TRUE about the fast path?

A : Consultants should advise customers to use the fast path.

B : The fast path is used to access applications

C : Users cannot specify a specific version of an application via the fast path.

D : Reports can be submitted by entering the report number in the fast path.

E : Security does not work when the fast path is used.

Answer: B

Question 5

When you are entering an invoice with VAT tax, the system displays hard Error 1480: "Tax

Amount May Not Be Understated."

Which system setting should you review to prevent the error and allow entry of understated

tax amounts?

A : Select the "Allow Understatement of Tax Amount" check box in the Tax Rules application (P0022) for the company on the invoice to allow entry of understated tax amounts within the defined tolerance limits.

B : Set the "Allow Understatement of Tax Amount* processing option to 1 in the Invoice Entry Master Business Function (P03B0011) to allow entry of understated tax amounts within the defined tolerance limits.

C : Select the "Allow Understatement of Tax Amount" check box in the Tax/Rate Area application (P4008).

D : Activate the "Allow Understatement of Tax Amount' processing option for Standard Invoice Entry application (P03B11) to allow entry of understated tax amounts.

E : Select the "Allow Understatement of Tax Amount" check box in the Company Number and Names application (P0010) for the company on the Invoice to allow entry of understated tax amounts within the defined tolerance limits.

Answer: D

Page: 1 / 33

Total 165 Questions | Updated On: Jan 28, 2026

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