1Z0-1055-23 Exam Dumps, 1Z0-1055-23 Practice Test Questions
PDF (New 2025) Actual Oracle 1Z0-1055-23 Exam Questions
NEW QUESTION # 22
In what order should the import process be run when importing suppliers?
- A. Supplier, Supplier Site Assignment, Supplier Site, Supplier Contacts
- B. Supplier, Supplier Site Contacts, Supplier Site, Supplier Site Assignment
- C. Supplier, Supplier Address, Supplier Site, Supplier Site Assignments
- D. any order
Answer: C
Explanation:
The following programs are used to import supplier information:
When importing supplier records containing data in each table, then Suppliers must be run first, followed by the Supplier Sites import process. Once the data is inserted, the following concurrent processes must be run to create the information in Oracle Fusion Suppliers.
Suppliers Import Process
Supplier Sites Import Process
Supplier Site Contacts Import Process
Supplier Site Assignments Process
References:https://docs.oracle.com/cd/E56614_01/procurementop_gs/OAPRC/F1007476AN1079E.htm
NEW QUESTION # 23
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. 0
- B. 1
- C. 2
- D. 3
Answer: A
Explanation:
You must set up a separate tax registration to represent each distinct registration requirement for a first party legal reporting unit.
NEW QUESTION # 24
Which two statements about the submission of invoices by suppliers using Supplier Portal are true?
- A. A supplier can submit a single invoice against multiple purchase orders, provided the currency and organization for all the invoice items are the same as those on the purchase orders.
- B. A supplier can make changes to the invoice after submitting it.
- C. A supplier can validate the invoice after submitting it.
- D. A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed.
- E. A supplier can submit a single invoice against multiple purchase orders across different currencies and organizations.
Answer: A,B,C
Explanation:
D: (not C): You can enter a credit memo against a fully billed purchase order (use negative quantity amounts to enter a credit memo), as well as invoice against multiple purchase orders. However, the currency and organization of all items on an invoice must be the same. The organization is the entity within the buyer'scompany that you are invoicing.
IncorrectAnswers:
E: After you submit an invoice, you cannot change the invoice.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e13414/T463223T463232.htm
NEW QUESTION # 25
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 invoices need revalidation.
- B. The pay-through date is in a future period.
- C. The invoice has not been accounted.
- D. The pay-through date is in a closed Payables period.
- E. The installment was manually removed.
Answer: B,C
NEW QUESTION # 26
If you accidentally paid an invoice using Create Payment flow, can you undo the operation?
- A. yes, by creating a credit memo to offset the payment
- B. yes, by voiding the payment created
- C. Cancel the invoice and create a new one.
- D. no
- E. yes, by canceling the payment process from the process monitor
Answer: D
Explanation:
You cannot terminate a Payment Instruction:
References:https://docs.oracle.com/cd/E18727_01/doc.121/e12797/T295436T369088.htm
NEW QUESTION # 27
Which two are classified as Self-Billed invoices?
- A. Invoices created using Integrated Imaging
- B. Customer Refunds initiated from Receivables
- C. Expense Reports transferred from Expenses
- D. Debit Memos created by the Return to Supplier feature
- E. Invoices entered through the Supplier Portal
- F. Evaluated Receipt Settlement (ERS) Invoices
Answer: E,F
Explanation:
Select ERS and Use in the Transaction source parameter when running the Pay on Receipt Auto-invoice concurrent program.
You enable paying your supplier by selecting a method on the Purchasing tab of the Supplier Sites window in Oracle Payables.
NEW QUESTION # 28
Which method can you use to route payment approval rules?
- A. Approval Groups
- B. Sequential
- C. Serial and FYI (For Your Information)
- D. Both Parallel and Sequential
- E. Parallel
Answer: D
NEW QUESTION # 29
You need to enter a high volume of users into the system. What is Oracle's recommendation to do this?
- A. Use the spreadsheet templates available in Oracle Enterprise Repository (OER) and then import users into Cloud Applications.
- B. use the spreadsheet of Oracle Identity Manager (OIM) to import users.
- C. Use the Hire an Employee user interface and enter each user manually.
- D. Use the Enter a Supplier user interface and enter each user manually.
Answer: D
Explanation:
If you have batch of users that have to be created, the Oracle team can bulk load the users into the OIM Application.
References:http://docs.oracle.com/cd/E79623_01/rms/pdf/160C/html/admin_guide/tasks.htm
NEW QUESTION # 30
You have successfully processed the expense reports for reimbursement and have transferred the information to Payables. What is the next step before you can pay them?
- A. Create a payment process request in Payments.
- B. Transfer the data to General Ledger.
- C. Create Accounting for the invoice in Payables.
- D. Validate the invoice in Payables.
Answer: D
Explanation:
Oracle Fusion Expenses provides reimbursement functionality that ensures corporate card issuers and employees are reimbursed for business expenses. Expenses uses Oracle Fusion Payables to process expense reports for reimbursement. To reimburse card issuers and employees, the expense auditor runs the Process Expense Reimbursement process and the corporate card administrator runs the process, Create Corporate Card Issuer Payment Requests. After payment requests are created in Payables, corporate card issuers and employees are paid by Oracle Fusion Payments.
Thisfigure shows the flow of data when the expense auditor runs the Process Expense Reimbursement program.
NEW QUESTION # 31
You have evaluated the use of Oracle Maps Cloud service with Expenses for mileage calculation. The decision is to use this feature.
How do you enable the feature?
- A. Set Enable Oracle Maps to yes in the expense mileage policies.
- B. Set the profile option ORA_EXM_ORACLE_MAPS to yes at the site level.
- C. Set Enable Oracle Maps to yes in the expense report template.
- D. Set Enable Oracle Maps to yes in the expenses system options.
Answer: D
Explanation:
Create a mileage policy, optionally include a commute deduction rule, and then assign the mileage policy to an expense type to activate the policy.
NEW QUESTION # 32
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 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).
- C. The tax calculated on the prepayment is reversed completely and the tax rateapplied to the invoice line is retained.
- D. 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).
Answer: A
Explanation:
When you apply a prepayment to an invoice, the tax rate at the time of prepayment may differ from the tax rate at the time that the prepayment is applied to an invoice. Oracle Fusion Tax considers the tax calculated on the prepayment according to the value assigned to the Applied Amount Handling option in the tax record. The values are Recalculated and Prorated.
For example, you apply a prepayment amount of 5,000 USD to an invoice with a total amount of10,000 USD. At the time of prepayment, the applicable tax rate was 5% (250 USD tax on the prepayment); at the time of invoice creation, the applicable tax rate is 10%. Tax is calculated in this way:
* Recalculated: The tax is recalculated on the prepayment using the invoice tax rate and the same tax rate is applied to the invoice line amount. The tax calculation creates two tax lines: one for the invoice line amount and one for the prepayment with a negative amount. In the invoice example, the calculationcreates an invoice line amount tax line of 1,000 USD (10% * 10,000 USD) and a prepayment tax line of -500 USD (10% * -5000 USD). This reverses tax calculated on the invoice for the prepayment amount applied. The tax calculated on the prepayment is retained.
* Prorated:Etc.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAFTT/F1006655AN242EE.htm
NEW QUESTION # 33
You have created an approval rule as follows:
Rule 1: If the invoice amount > $1000, route it to User 1.
Rule 2: If the invoice amount < $1000, auto approve it.
Now, the user creates an invoice for $1000 and routes it for approval.
What will happen?
- A. The initiate option is greyed out for the invoice.
- B. The workflow will fail once approval is initiated.
- C. Invoice will be sent to User 1 for approval.
- D. Invoice will be auto-approved.
Answer: C
NEW QUESTION # 34
Identify what Oracle considers two best practices when setting up Payables and Receivables account access for bank reconciliation.
- A. 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.
- B. Only business units who use the same ledger as the bank accounts owning legal entity can be assigned access.
- C. Do not assign bank accounts to business units.
- D. Business units must be granted access to the bank account.
- E. Assign a few general ledger cash accounts to multiple bank accounts to facilitate book-tobank reconciliation.
Answer: B,D
Explanation:
Account Access
Payables and Receivables account access is secured by business unit. In addition to selecting theappropriate application use or uses, one or more business units must be granted access before the bank account can be used by Payables and Receivables. Only business units that use the same ledger as the bank accounts owning legal entity can be assigned access.
NEW QUESTION # 35
Identify three statements that indicate the purpose of Functional Setup Manager.
- A. It automatically marks the completion status of tasks as Completed once they have been completed.
- B. It provides a central place to access and perform all of the setup steps across the applications.
- C. It automatically generates lists of setup tasks in the correct sequence with dependencies highlighted.
- D. It allows you to centrally manage the close processes across subledgers and ledgers.
- E. it allows you to assign setup tasks to individuals with due dates where users must manually update their completion status.
Answer: B,C,E
Explanation:
With Oracle Fusion Functional Setup Manager you can:
References:https://docs.oracle.com/cd/E56614_01/common_op/OAFSM/F1166427AN1007E.htm
NEW QUESTION # 36
A company has a requirement to pay small suppliers outside of Payables, but it does not want to manually record each payment.
Which solution should you implement?
- A. Create a payment by using a wire payment method for those suppliers.
- B. Create payments by using a clearing payment method for thosesuppliers because this payment method does not generate a file.
- C. Create payments by using the Check Payment method for those suppliers and then destroy those checks.
- D. Create payments by using Electronic Funds Transfer (EFT) for those suppliers but do not send the electronic file to the bank.
Answer: D
Explanation:
When you create a payment outside of Payables, for example, using a typed check or wire transfer, within Payables you can record the payment and update the invoices that you paid.
NEW QUESTION # 37
Which two invoice types can have a status of Incomplete?
- A. Supplier Portal Invoices which are rejected and resubmitted for approval
- B. Scanned Invoices with incomplete or missing information
- C. Prepayment Invoices which are fully paid but not applied against any invoice
- D. Supplier Portal Invoices which are saved but not yet submitted
- E. Scanned Invoices which are rejected during import
Answer: A,D
Explanation:
As a Supplier user, you can now edit and resubmit invoices that are rejected from the approval users during the invoice request approval process.
An incomplete invoice is an invoice created from an image that has invalid or missing information.
NEW QUESTION # 38
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Updated Sep-2025 Pass 1Z0-1055-23 Exam - Real Practice Test Questions: https://simplilearn.lead1pass.com/Oracle/1Z0-1055-23-practice-exam-dumps.html