Exam Name: Oracle Financials Cloud: Payables 2021 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Cloud
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Oracle : 1Z0-1055-21 Exam Premium Dumps
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The 1Z0-1055-21 exam has a reputation for catching even experienced professionals off guard. FreeCram prepares you with 142 practice questions that match the style and depth of the Oracle Financials Cloud: Payables 2021 Implementation Essentials exam, refreshed for 2026.
Oracle 1Z0-1055-21 Exam Overview:
| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Financials Cloud: Payables 2021 Implementation Essentials |
| Exam Number: | 1Z0-1055-21 |
| Available Languages: | English |
| Passing Score: | 68% |
| Exam Format: | Multiple Answer, Multiple Choice |
| Real Exam Qty: | 55 |
| Exam Duration: | 120 minutes |
| Exam Price: | USD 245 |
| Related Certifications: | Oracle Financials Cloud: Payables 2021 Certified Implementation Specialist |
| Sample Questions: | Oracle 1Z0-1055-21 Sample Questions |
| Exam Way: | Online Proctored or Test Center |
| Pre Condition: | Oracle recommends experience with Oracle Financials Cloud Payables implementation and configuration. |
| Official Syllabus URL: | https://education.oracle.com/oracle-financials-cloud-payables-2021-implementation-essentials/pexam_1Z0-1055-21 |
Oracle 1Z0-1055-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Suppliers | - Supplier Configuration
|
| Accounting and Period Close | - Payables Accounting
|
| Enterprise Structures and Business Units | - Enterprise Structure Configuration
|
| Expense Processing | - Expenses and Auditing
|
| Reporting and Analytics | - Reporting Tools
|
| Payments | - Payment Management
|
| Invoices | - Invoice Processing
|
Common Questions About the Oracle 1Z0-1055-21 Exam
The 1Z0-1055-21 exam is the official exam behind the Oracle Cloud credential from Oracle. It sits at the Professional level of the Oracle certification track. It is also associated with Oracle Financials Cloud: Payables 2021 Certified Implementation Specialist. The FreeCram practice questions on this page map to the same objectives, so you can measure your readiness before you book a seat.
The 1Z0-1055-21 exam contains 55 questions and gives you 120 minutes to complete them. That pace leaves little room for getting stuck, so train yourself to flag a hard question, move on, and circle back later. Run at least one full timed session in the FreeCram test engine a week before your exam date to check whether your pacing holds under pressure.
You need 68% to pass the 1Z0-1055-21 exam, and the official registration fee is USD 245. A retake means paying that fee again in full, which makes thorough preparation the cheaper option by far. Before scheduling, take a timed FreeCram practice test; if you are not scoring comfortably above the passing line, give yourself more study time instead of booking on hope.
Oracle recommends experience with Oracle Financials Cloud Payables implementation and configuration.
Requirements can change, so confirm the latest details on the official Oracle exam page before you register.
Yes. A free 1Z0-1055-21 PDF demo is available, so you can check the question style and answer quality before you commit. Every purchase also includes 365 days of free updates, and if your product expires after that, you can extend the update service at a 50% discount from your member zone.
Your purchase is protected by our 100% Money Back Guarantee. If you take the 1Z0-1055-21 exam within 60 days of purchase and do not pass, send us a scanned enrollment slip and your official Score Report PDF within two days of the exam; approved refunds are processed within seven days. The candidate name must match the payer name, and the guarantee does not apply to exams taken within three days of purchase, to products that were downloaded but never used in an exam sitting, or to free materials and expired orders. If you would rather keep studying, we can instead exchange your order for two free exam products of equal value while your original product keeps its update service. Delivery itself is instant: your download is emailed within one minute of payment and stays available in your member zone, with no limit on how many computers you can install it on. If nothing arrives within two hours, contact our customer service team.
The 1Z0-1055-21 syllabus is divided into 7 domains, including Invoices, Enterprise Structures and Business Units, and Expense Processing. The complete breakdown, with every domain and its subtopics, is listed in the Exam Topics section above — review it line by line and flag the areas where you feel weakest.
Oracle Financials Cloud: Payables 2021 Implementation Essentials Sample Questions:
Question 1
You are using the Payable's Deferred Expense feature (also known as Multiperiod Accounting). You have entered an invoice for a three-month lease that is entered on Jan 10th. The total expense is $12,000 and it covers the rental period from Jan 1st to Mar 31st.
Assuming that the rental expenses are split evenly per month and a monthly accounting calendar is used, what would the accounting entry be?
A. On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000
B. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000 and thenOn Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Feb 28th, Debit Rental Expense for
4,000 and Credit Prepared Expense for 4,000On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000
C. On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000On Jan 10th, Debit Rental Expense for 12,000 and Credit Cash for 12,000
D. On Jan 10th, Debit Prepaid Expense for 12,000 and Credit Liability 12,000
Question 2
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. Issue a credit memo, which will debit the liability and credit the expense.
B. Cancel the invoice, which debits the liability and credits the expense.
C. Void the payment, which debits cash and credits the liability, and then cancel the invoice, which debits the liability and credits the expense.
D. Void the payment, which debits cash and credits the liability, and then issue a credit memo, which debits the liability and credits the expense.
Question 3
What is the name of the Work Area that is used to access Functional Setup Manager?
A. Functional Setup Manager
B. Customization Manager
C. Setup and Maintenance
D. Functional Work Area
E. Customize Setup and Maintenance
Question 4
What are the output formats supported for Electronic and Check format programs?
A. Electronic output format of PDF, Check output format of PDF
B. Electronic output format of Text, Check output format of Text
C. Electronic output format of eText, Check output format of rtf
D. Electronic output format of DATA (csv), Check output format of Zipped PDFs
E. Electronic output format of XML, Check output format of rtf
Question 5
Which three are valid reasons why you cannot close your Payables period? (Choose three.)
A. Unapplied prepayments
B. Unaccounted invoices and payments
C. Suppliers on payment holds
D. Bills payable requiring maturity
E. Incomplete payment files
Solutions:
| Question 1 Answer: B | Question 2 Answer: C | Question 3 Answer: C | Question 4 Answer: C | Question 5 Answer: B,D,E |
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