1Z0-1055-22 Online Practice Questions and Answers

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 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)

A Bill Payable document was paid but has not yet matured.

What is the status of the payment?

A. In Transit

B. Cleared

C. Negotiable

D. Issued

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. Issue a credit memo, which will debit the liability and credit the expense.

C. Void the payment, which debits cashand credits the liability, and then issue a credit memo, which debits the liability and credits the expense.

D. Void the payment, which debits cash and credits the liability, and then cancel the invoice, which debits the liability and credits the expense.

A Payablessupervisor wants to apply a prepayment to an invoice.

Which combination of invoice and payment currencies allow the application of a prepayment to an invoice?

A. Standard Invoice: Invoice Currency USD, Payment Currency GBP Prepayment: Invoice CurrencyUSD, Payment Currency AUD

B. Standard Invoice: Invoice Currency USD, Payment Currency USD Prepayment: Invoice Currency CAD, Payment Currency CAD

C. Standard Invoice: Invoice Currency CAD, Payment Currency GBP Prepayment: Invoice Currency USD, Payment Currency AUD

D. Standard Invoice: Invoice Currency USD, Payment Currency CAD Prepayment: Invoice Currency CAD, Payment Currency CAD

Which invoice types can be included in theCreate Payment flow?

A. Standard, Credit Memo and Debit Memo

B. Standard, Credit Memo and Customer Refund

C. Standard, Credit Memo, and Invoice Request

D. Standard, Debit Memo and Customer Refund

You have assigned additional roles to an existing user. However, the new roles are not appearing for the user in their Navigator menu. What should you check?

A. Make sure you can query the user using Oracle Identity Manager (OIM) and the roles are assigned.

B. Make sure you can query the user from the Manage Users page and verify the roles assigned.

C. Make sure you ran the Retrieve Latest LDAP Changesprogram.

D. Make sure the user logs out and logs back in.

Before you can configure payment approval rules, your company must define a payment approval policy. Which three are done by the payment approval policy?(Choose three.)

A. It allows approvers to review payments and decide whether or not to approve a payment.

B. It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.

C. It defines a list of approvers who review payments and make final payment decisions.

D. It defines when to initiate the payment approval process.

E. It determines which payments must go through the payment approval process.

Which two statements are true about processing corporate card expenses? (Choose two.)

A. Conversion rate defaults apply only to cashexpenses, not to corporate card expenses.

B. Usage policy for expense category tolerances does not apply to credit card expenses.

C. Card transactions will be paid directly from Expenses Cloud.

D. You can process payment for credit card using Electronic funds transfer, check, or wire.

E. Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses.

Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run? (Choose two.)

A. For the Legal Jurisdiction, Legal function: "Generate intercompany invoice" should be assigned.

B. Schedule create accounting for the intercompany process.

C. Supplier site primary pay flagand customer account bill to primary flag should be enabled.

D. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.

E. Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables.

F. Manual Approvals should be allowed for the transaction type.