Oracle 1z0-1055-22 Oracle Financials Cloud: Payables 2022 Implementation Professional Exam Practice Test

Employees are not reimbursed for expense report expenditures until missing or overdue imaged receipts are submitted.

Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.

Receipts are not required if the expense item falls within Per Diem Rates.

An expense report may require original, imaged, or both types of receipts.

Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero.

Both the invoice and the credit memo are paid and a refund of $25 USD is created.

Both the invoice and credit memo are included in the payment process request for a payment amount of $0 USD. The credit memo is partially paid with a remaining credit of $25 USD.

Both the invoice and the credit memo are selected and the Payment Process Request requires attention.

Standard Invoice: Invoice Currency USD, Payment Currency GBP

Prepayment: Invoice CurrencyUSD, Payment Currency AUD

Standard Invoice: Invoice Currency USD, Payment Currency USD

Prepayment: Invoice Currency CAD, Payment Currency CAD

Standard Invoice: Invoice Currency CAD, Payment Currency GBP

Prepayment: Invoice Currency USD, Payment Currency AUD

Standard Invoice: Invoice Currency USD, Payment Currency CAD

Prepayment: Invoice Currency CAD, Payment Currency CAD

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

The tax for the prepayment is recalculated to use the newinvoice 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).

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).

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

Reimbursement of employee expense reports

Employee advances

Supplier payments

Customer refunds

Ad hoc payments

Voided

Negotiable

Stop initiated

Available

Canceled

Cleared

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Create payments by using the Check Payment method for those suppliers and then destroy those checks.

Create payments by using Electronic Funds Transfer (EFT) for those suppliers but do not send the electronic file to the bank.

Create payments by using a clearing payment method for thosesuppliers because this payment method does not generate a file.

Create a payment by using a wire payment method for those suppliers.

A stop payment request has been initiated to the bank.

A bills payable payment wascreated but is not yet matured.

The payment is reconciled to the bank statement.

The payment is no longer valid.

open intercompany transactions

unapplied prepayments

suppliers on payment holds

bills payable requiring maturity

unaccounted invoices and payments

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You must provide a start date and an end date for the prepaid expenses in the invoice lines or distributions.

You must provide a start date, an end date, and the accrual account for the prepaid expenses in theinvoice lines or distributions.

You must provide a start date and the accrual account for the prepaid expenses in the invoice lines or distributions.

You must provide the accrual account for the prepaid expenses in the invoice lines or distributions.

You did not specify the range of liability accounts to include in the extract.

The reconciliation flag has not been enabled for your liability accounts.

The financial category of Accounts Payable is not assigned to the liability accounts.

You did not select the business units associated to the UK Ledger.

For period end accruals, accounting is created at material receipt or at delivery to a final destination.

For period end accruals, the invoice accounting debits the expense account and credits the liability account.

For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account.

For period end accruals, the invoice accounting for inventory items debits receipt inventory and credits the uninvoiced receipts.

opens the relevant accounting period

validates projectinformation

updates supplier balances

creates tax lines and distributions

creates accounting entries in draft

Conversion rate defaults apply only to cashexpenses, not to corporate card expenses.

Usage policy for expense category tolerances does not apply to credit card expenses.

Card transactions will be paid directly from Expenses Cloud.

You can process payment for credit card using Electronic funds transfer, check, or wire.

Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses.

A supplier can make changes to the invoice after submitting it.

A supplier can submit a single invoice against multiple purchase orders across different currencies and organizations.

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.

A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed.

A supplier canvalidate the invoice after submitting it.

The payment process request pays only $200 USD alone.

The payment process request applies $200 USD of the credit memo to the invoice, leaving a remaining credit of $25 USD, and creates a payment for $0 USD.

The payment process request creates a refund for $225 USD and leaves the invoice unpaid.

The payment process request doesn’t select the invoice or credit memo for payment because the credit reduces the payment to - $25 USD, which is below zero.

Supplier Site

Payment Method

Payment Format

Payment Terms

Disbursement Bank Account