Practice 1Z0-1055-23 Exam Online

Question 1

You need to enter a high volume of users into the system. What is Oracle's recommendation to do this?

A : Use the Enter a Supplier user interface and enter each user manually.

B : Use the Hire an Employee user interface and enter each user manually.

C : Use the spreadsheet templates available in Oracle Enterprise Repository (OER) and then import users into Cloud Applications.

D : use the spreadsheet of Oracle Identity Manager (OIM) to import users.

Answer: D

Question 2

Which two are true for Payables Payment Terms? (Choose two.)

A : When entering an Invoice, you will see Payment Terms assigned to the reference data set associated with the Business unit on the invoice plus those associated with the common set.

B : You must assign the predefined payment term Immediate to the reference data set that is assigned to the business unit before you can define common options for Payables and Procurement.

C : When entering an Invoice, you will see Payment Terms assigned to the reference data set associated with the Business unit on the invoice but not those associated with the common set.

D : Each payment term can only be assigned to one reference data set.

Answer: A,B

Question 3

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)

Answer: A

Question 4

Identify three scenarios where you are not allowed to cancel an invoice. (Choose three.)

A : Prepayments were applied to the invoice.

B : An accounting entry has been created for the invoice.

C : The invoice is validated.

D : The invoice is fully or partially paid.

E : The invoice was adjusted by a credit or a debit memo.

Answer: A,D

Question 5

You applied a prepayment amount of $5,000 USD to a $10,000 USD invoice. At the time of prepayment, the applicable tax rate was 5% ($250 USD); at the time of invoice creation, the tax rate is 10%. When you set up taxes, you choose to Recalculate Taxes for the Applied Amount Handling option.
How will the resulting tax be calculated?

A : The tax for the prepayment is recalculated and the generated tax line amount will be $250 USD (5% * 10,000-5000).

B : The tax for the prepayment is recalculated to use the new invoice tax rate that is also used for the invoice line amount. The two generated tax lines show $1,000 USD (10% * 10,000) for the invoice line tax amount and a prepayment tax line of -500 USD (10% * -5000).

C : The tax calculation creates two tax lines: one for the invoice line amount and one for the prepayment with a negative amount. The two generated tax lines show $1,000 USD (10% * 10,000) for the invoice line tax amount and a prepayment tax line of -250 USD (5% * -5000).

D : The tax calculated on the prepayment is reversed completely and the tax rateapplied to the invoice line is retained.

Answer: B

Name:	Oracle Financials Cloud: Payables 2023 Implementation Professional
Exam Code:	1Z0-1055-23
Certification:	Oracle Cloud
Vendor:	Oracle
Total Questions:	142
Last Updated:	Apr 25, 2024

Oracle 1Z0-1055-23