1Z0-1055-23 Practice Online

Question 1

Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?

A : The user needs to specify which payment term to use.

B : The payment term of the purchase order overrides the invoice payment term.

C : The payment term of the invoice overrides the purchase order payment term.

D : The purchase order payment term cannot be overridden.

E : The user needs to manually change the payment term on the invoice to match the purchase order payment term.

Answer: C

Question 2

When submitting the Payables to General Ledger Reconciliation report, the extract did not select any dat
a. What should you check?

A : Make sure you assign an Account parameter when running the extract to include liability accounts.

B : Make sure you specified a Business Unit in the parameters when running the extract.

C : Make sure you enabled the Reconciliation flag to all of your liability natural account values.

D : Make sure you assigned a Financial Category of Accounts Payable to all your liability natural account values.

Answer: D

Question 3

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 4

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)

Answer: A

Question 5

An installment meets all of the selection criteria of a Payment Process Request but it still did not get selected for payment processing. Identify two reasons for this.

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

B : The pay-through date is in a future period.

C : The invoices need revalidation.

D : The invoice has not been accounted.

E : The installment was manually removed.
An installment can meet the selection criteria of a payment process request, yet not get selected for payment for one or more reasons.
You can review installments that were not selected for payment, along with the reasons they were not selected, on the Not Selected tab of the Review Installments page.
The reasons are as follows:
References:https://docs.oracle.com/cd/E37017_01/doc.1115/e22897/F438410AN16238.htm

Answer: A,C

Name:	Oracle Financials Cloud: Payables 2023 Implementation Professional
Exam Code:	1Z0-1055-23
Certification:	Oracle Cloud
Vendor:	Oracle
Total Questions:	142
Last Updated:	Apr 22, 2024

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