Practice on 2025 LATEST 1Z0-1055-23 Exam Updated 143 Questions

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NEW QUESTION # 38
You have created your first implementation project. You have assigned the Application Implementation Consultant role to your user. However, you are unable to create and add roles to users in Oracle Identity Management (OIM).
This issue is caused because you did not assign the ________.

• A. Line Manager role to your user
• B. Superuser role to your user
• C. Application Implementation Manager role to your user
• D. IT Security Manager role to your user

Answer: A

Explanation:
For an implementation to begin, at least one user must be provisioned with the Application Implementation Manager role, and another or the same user must be provisioned with the ApplicationImplementation Consultant role. The Application Implementation Consultant has broad access to set up all enterprise structures.

NEW QUESTION # 39
You entered an invoice of 12,000 and paid it for Office Suppliers. The payment was never received by the supplier, and you decide to return the entire order. What should you do?

• A. Cancel the invoice, which debits the liability and credits the expense.
• B. Void the payment, which debits cash and credits the liability, and then cancel the invoice, which debits the liability and credits the expense.
• C. Void the payment, which debits cash and credits the liability, and then issue a credit memo, which debits the liability and credits the expense.
• D. Issue a credit memo, which will debit the liability and credit the expense.

Answer: B

NEW QUESTION # 40
Which reporting tool is used to report on real-time data?

• A. Oracle Financial Reporting Studio
• B. Essbase Cube
• C. Oracle Transactional Business Intelligence (OTBI)
• D. Oracle Business Intelligence Publisher
• E. Smart View

Answer: B

NEW QUESTION # 41
Which statement is true about selecting a bank account on the Create Payment page?

• A. LE on the bank account should be equal to LE on the invoice.
• B. LE on the bank account should be different from the LE on the invoice.
• C. There is no relationship between the business unit, bank, and LE. Users can pick any bank account that is setup in their system.
• D. Bank account must match the supplier's bank account.
• E. Users can pick any bank account as long as the bank account is tried to the business unit.

Answer: C

Explanation:
Note: LE = legal entity

NEW QUESTION # 42
What is the result of voiding a payment?

• A. The payment is reconciled to the bank statement.
• B. A stop payment request has been initiated to the bank.
• C. A bills payable payment was created but is not yet matured.
• D. The payment is no longer valid.

Answer: D

NEW QUESTION # 43
Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?

• A. 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.
• B. Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab.
• C. 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.
• D. Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers.

Answer: B

NEW QUESTION # 44
An installment for $1,000 USD is due for payment on January 10, 2019. The installment has two discounts: the first discount date is December 5, 2018 for $150 USD and the second discount date is December 20, 2018 for $50 USD. The Pay Date Basis on the supplier site is Discount.
You submit a Payment Process Request with the following criteria:
Payment Date = December 5, 2018
Pay Through Date = December 25, 2018
Date Basis = Pay Date
Always Take Discount option is enabled
What will be the resulting status of the installment and discount?

• A. The installment is not selected because the first discount date is before the Pay Through Date.
• B. The installment is selected and a discount of $200 USD ($150 + $50) is applied.
• C. The installment is selected but no discount is applied because the payment date is after the discount dates.
• D. The installment is selected and a discount of $150 USD is applied because the Always Take Discount option was enabled.
• E. The installment is selected and a discount of $50 USD (the second discount) is applied.

Answer: E

Explanation:
Discount Taken Amount is 150 USD. Although the Payment Date is after the discount dates, the first discount is taken because the option Always take discount is enabled.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011879AN17393.htm

NEW QUESTION # 45
When reviewing installments, what setup is required to override the supplier site on an invoice?

• A. Allow the remit-to supplier override for third-party payments at Manage Invoice options.
• B. Allow the remit-to supplier address override for third-party payments at Manage Invoice options.
• C. Allow the remit-to supplier override for third-party payments at Manage Payment options.
• D. Allow payee to override for third-party payments while Manage Invoice options.

Answer: B

Explanation:
(Optional) Setting the Remit-to Supplier Override Option
References:https://docs.oracle.com/cloud/farel9/financialscs_gs/FAIPP/F1470346AN14ECB.htm

NEW QUESTION # 46
You purchased a computer from Company A for 2000 USD. Company B ships you the computer with freight charges of 100 USD. You would like the cost of the computer to include those freight charges.
How can you achieve this?

• A. Choose Match to Receipt.
• B. Choose to Match to Receipt Charges.
• C. Choose to Match to Invoice Lines.
• D. Choose to Match in full to the Purchase Order.
• E. Enter the Invoice manually and add the freight line.

Answer: B

NEW QUESTION # 47
A Payment Process Request was submitted and errors were found in the payment file. The payment file and process were terminated.
Which two statements are true?

• A. The status of the payment file is Terminated.
• B. The status of each payment in the payment file is Terminated.
• C. The status of the payment file is Cancelled.
• D. The status of each payment in the payment file is Cancelled and the related documents are available for future selection.
• E. The invoices are placed on payment hold.

Answer: C,D

Explanation:
If the payment file has been terminated and the documents payable have been returned to the source product, then the status of the Printed Payment File is Terminated.
Oracle Fusion Paymentsinforms the source product of the terminated documents payable. Then for each payment in the payment file, Payments sets the status to Canceled.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011879AN17393.htm

NEW QUESTION # 48
What are the two advantages of using a spreadsheet for correcting invoice import errors?

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

Answer: D,E

Explanation:
A: You can fix the interface table data using the Correct Import Errors spreadsheet and resubmits the import process.
E: Consider using the spreadsheetto:
Expedite high volume invoice entry for simple invoices that don't require extensive validation.
Create invoices with similar lines.
Maximize the use of spreadsheet features, such as copy and paste, or hide and unhide.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011878.htm

NEW QUESTION # 49
Your client wants to retrieve values for the account code based on the invoice line description. For example, Invoice Line Description = Laptop then Account Code = 5670.
Which Subledger Accounting option would you use to achieve this?

• A. Mapping Set
• B. Transaction References
• C. Description Rule
• D. Supporting References
• E. Event Class Settings

Answer: D

Explanation:
If you're matching to a purchase order and don't enter a value, the import process uses the item description from the purchase order line.

NEW QUESTION # 50
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. 0
• B. 1
• C. 2
• D. 3

Answer: C

Explanation:
You must set up a separate tax registration to represent each distinct registration requirement for a first party legal reporting unit.

NEW QUESTION # 51
You have 10 ledgers and 30 business units and want to leverage Preference Data Sets. What is the function of Reference Data Sets?

• A. allow you to maintain sets of related data in a Data Dictionary
• B. allow you to share reference data, such as payment terms, across multiple business units to avoid redundant setup
• C. allow you to assign multiple business units to users in a shared service center
• D. allow you to secure data by business unit

Answer: B

Explanation:
Reference Data Sets
You begin this part of your implementation by creating and assigning reference data to sets. Make changes carefully as changes to a particular set affect all business units or application components using that set. You can assign a separate set to each business unit for the typeofobject that is being shared. For example, assign separate sets for payment terms, transaction types, and sales methods to your business units.
Your enterprise can determine that certain aspects of your corporate policy can affect all business units. The remaining aspects are at the discretion of the business unit manager to implement. This allows your enterprise to balance autonomy and control for each business unit. For example, your enterprise holds business unit managers accountable for their profitand loss, but manages working capital requirements at a corporate level. In such a case, you can let managers define their own sales methods, but define payment terms centrally. In this example:
Each business unit has its own reference data set for salesmethods.
One central reference data set for payment terms is assigned to all business units.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAIGL/FAIGL1493157.htm#FAIGL94314

NEW QUESTION # 52
You are resolving payment validation errors during the payment build process. Which two actions can you perform to resolve these errors?

• A. Terminate the payment process request.
• B. Run the invoice validation program.
• C. Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.
• D. Run the create accounting program.
• E. Remove the documents or payments causing the error and resume the payment process.

Answer: A,E

Explanation:
Using the Resolve Document Validation Errors Page, you may review the errors and takeaction. You may fix related data, such as third party payee information, and submit the documents for revalidation. You may also remove documents from the Payment Process Request, which sends the documents back to the source product with the validation failure reason, just as rejection does.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e13415/T456136T484670.htm

NEW QUESTION # 53
Identify two ways the invoice imaging solution works in the Cloud.

• A. Customers scan the invoice on-premise and email the images.
• B. Customers scan and store the invoice images on-premise and attach them during invoice entry.
• C. Customers ask suppliers to send electronic invoices.
• D. Customers cannot use invoice imaging in the Cloud.
• E. Customers ask their suppliers to scan and email the invoice.

Answer: A,D

NEW QUESTION # 54
Which attributes on the payables invoice can be used during approval rule creation?

• A. company segment, cost center segment, supplier, and Attribute 1 on the invoice line
• B. cost center segment and supplier only
• C. supplier only
• D. company and cost center segment only

Answer: A

NEW QUESTION # 55
You have three procurement business units, four requisition business units and five sold-to business units. For which will the supplier registration flows be deployed?

• A. five sold-to business units
• B. twelve business units per supplier
• C. four requisition business units
• D. three procurement business units
• E. one business unit per supplier

Answer: D

Explanation:
A supplier is modeled as a global entity, meaning it is not created within a business unit or any other organizational context. A procurement business unit establishes a relationship with asupplier through the creation of a site which maintains internal controls for how procure to pay transactions are executed with the supplier. The other entities of the supplier profile capture mostly external information that is provided by the supplier, such as taxidentifiers, addresses, contact information, and so on.
References:https://docs.oracle.com/cd/E51367_01/procurementop_gs/OAPRC/F1007476AN106E5.htm

NEW QUESTION # 56
You need to have an invoice line automatically distributed across multiple cost centers. For example, you want your monthly utility bill allocated across multiple cost centers based on a percentage.
Select two methods to achieve this.

• A. Define a distribution set and assign it manually to the invoice.
• B. Define a distribution set and assign it to the supplier.
• C. Choose the 'All Lines' option from the Allocate menu in the invoice line area.
• D. Configure Subledger Accounting rules to allocate costs.

Answer: C,D

Explanation:
A: Account Rules by Segment
Define segment rules to derive a specific segment of the general ledger account. For example, a particular segment like the company segment can be determined from the distribution account. Another segment can be determined with the use of a constant value. Creating the account one segment at a time offers greater flexibility, but also requires more setup.
C: You can use a Distribution Set to automatically enter distributions foran invoice when you are not matching it to a purchase order. For example, you can create for an advertising supplier a Distribution Set that allocates advertising expense on an invoice to four advertising departments.
References:https://docs.oracle.com/cd/A60725_05/html/comnls/us/ap/distsets.htm

NEW QUESTION # 57
Which three reports are generated by the export setup data process? (Choose three.)

• A. Process Results Summary Report
• B. Exported Business Object Report
• C. Process Results Detail Listing Report
• D. Process Results Report
• E. Setup Data Report

Answer: A,C,D

NEW QUESTION # 58
An invoice for $200 USD and a credit memo for $225 USD are due for payment and the "Apply credits up to zero amount" option is enabled for the payment process request. Which statement is correct?

• A. The payment process request doesn't select the invoice or credit memo for payment because the credit reduces the payment to - $25 USD, which is below zero.
• B. The payment process request applies $200 USD of the credit memo to the invoice, leaving a remaining credit of $25 USD, and creates a payment for $0 USD.
• C. The payment process request creates a refund for $225 USD and leaves the invoice unpaid.
• D. The payment process request pays only $200 USD alone.

Answer: D

Explanation:
When you submit a "payment process request", you can enable the Apply credits up to zero amount payment option. Enablingthe option causes the payment process to apply credits when the credits reduce the payment amount below zero.
The following scenario illustrate the impact of this option.
Credit Amount Greater Than Invoice Amount
An invoice for 200 USD and a credit memofor 225 USD are due for payment.
The following table describes the payment processing that occurs based on the setting for the Apply credits up to zero amount payment option.
Assume that the "Apply Credits Up to Zero Amount" option is enabled.
Payment processing applies 200 USD of the credit memo to the invoice and creates a payment for 0 USD. The remaining credit is 25 USD.
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9F438E13CC89BA0CE040D30A68816F77

NEW QUESTION # 59
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