1Z0-1005 Online Practice Questions and Answers

You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?

A. Enter the invoice via a spreadsheet. Then, from the Manage Invoices page, query the invoice, validate it, create accounting, and then open general ledger's Manage Journals page and post the associated invoice journal entry.

B. Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.

C. Enter and post a manual journal entry directly into the general ledger.

D. Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.

If you accidentally paid an invoice using Create Payment flow, can you undo the operation?

A. yes, by canceling the payment process from the process monitor

B. Cancel the invoice and create a new one.

C. yes, by voiding the payment created

D. yes, by creating a credit memo to offset the payment

E. no

An installment meets all the selection criteria of a Payment Process Request, but it still does not get selected for payment processing.

What are the two possible reasons for this? (Choose two.)

A. The pay-through date is in a closed Payables period.

B. The invoice has not been accounted.

C. The invoice requires approval.

D. The pay-through date is in a future period.

E. The invoice needs re-validation.

You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?

A. Needs Revalidation

B. Not Validated

C. Not Required

D. Imported

E. Validated

You have a high volume of invoices to enter that have similar lines and do not require extensive validation. What must you do if you want to group multiple invoices in a batch during spreadsheet entry?

A. Make sure the Invoice Number is the same.

B. Make sure all the invoice dates are the same.

C. Assign the same Invoice Header Identifier to multiple invoices you want to group.

D. Enable the invoice option Require Invoice Grouping, and the system automatically groups invoices entered in the same spreadsheet.

E. Enter a value in the Invoice Group field to group similar invoices into a batch.

You have an invoice for a three-month lease and wish to recognize the expense monthly for the duration of

the lease.

What must be entered on the invoice in order to do this?

A. You must provide a start date and an end date for the prepaid expenses in the invoice lines or distributions.

B. You must provide a start date, an end date, and the accrual account for the prepaid expenses in the invoice lines or distributions.

C. You must provide a start date and the accrual account for the prepaid expenses in the invoice lines or distributions.

D. You must provide the accrual account for the prepaid expenses in the invoice lines or distributions.

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. (Choose two.)

A. Configure Subledger Accounting rules to allocate costs.

B. Define a distribution set and assign it manually to the invoice.

C. Choose the `All Lines' option from the Allocate menu in the invoice line area.

D. Define a distribution set and assign it to the supplier.

You need to submit a 1099 report; your State format has changed slightly since last year. How should you submit your 1099s for the State in the current year?

A. Manually enter the 1099s for the State and submit.

B. Generate a 1096 form and submit it instead.

C. Run and submit your 1099s because it will automatically reflect any changes.

D. Edit the 1099 template to reflect the changes, and then run and submit the 1099 report.

Which reporting tool is used to report on real-time data?

A. Essbase Cube

B. Smart View

C. Oracle Business Intelligence Publisher

D. Oracle Financial Reporting Studio

E. Oracle Transactional Business Intelligence (OTBI)

Which job role has full access to perform all Functional Setup Manager related activities?

A. Application System Administrator

B. Any Functional User

C. Functional Setup Manager Superuser

D. IT Security Manager

E. Application Implementation Consultant