Oracle Financials Cloud: Payables 2021 Implementation Essentials - 1Z0-1055-21 FREE EXAM DUMPS QUESTIONS & ANSWERS]

Question 1

Which three attributes are captured during the scanning of invoice images?

A. PO Number B. Invoice Date C. Payment Method D. Invoice Number E. Terms Date

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Correct Answer: A,B,D Vote an answer

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Question 2

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 invoice needs re-validation. B. The invoice has not been accounted. C. The pay-through date is in a future period. D. The invoice requires approval. E. The pay-through date is in a closed Payables period.

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Correct Answer: A,D Vote an answer

Question 3

Which data is visible to a Payables user in the Payables to General Ledger Reconciliation report?

A. Data for authorized business units and GL data for all balancing segments in the ledger (unless restricted) B. Data for all business units and one balancing segment in the ledger C. Data for authorized business units only; no GL data is visible D. Data for all business units and all balancing segments in the ledger

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Correct Answer: B Vote an answer

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Question 4

Identify what Oracle considers two best practices when setting up Payables and Receivables account access for bank reconciliation. (Choose two.)

A. Assign a few general ledger cash accounts to multiple bank accounts to facilitate book-tobank reconciliation. B. Allow bank accounts to be accessed by all roles and users because the default value to secure a bank account by users and roles is No. C. Business units must be granted access to the bank account. D. Only business units who use the same ledger as the bank accounts owning legal entity can be assigned access. E. Do not assign bank accounts to business units.

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Correct Answer: C,D Vote an answer

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Question 5

How will system evaluate the tolerances for expense reports?

A. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100)*currency precision. B. System will calculate error tolerance as Policy Rate * (1+Warning Tolerance+ Error Tolerance/100). C. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100). D. System will use absolute amount tolerance setup to do validations. E. System will calculate error tolerance as (|Policy Rate * (1+Error Tolerance/100)|) currency precision.

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Correct Answer: C Vote an answer

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Question 6

A company has three legal entities each with a corresponding business unit all within the same country. All organizations buy and sell the same products. You are configuring the tax setup.
What is the minimum number of Tax Regimes you need to configure for this company?

A. 6 B. 3 C. 2 D. 1

Discussion 0

Correct Answer: B Vote an answer

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