1Z0-1055-23 Exam Training Practice Tests (Oracle Financials Cloud: Payables 2023 Implementation Professional)]

Question 1

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 workflow will fail once approval is initiated. B. Invoice will be sent to User 1 for approval. C. Invoice will be auto-approved. D. The initiate option is greyed out for the invoice.

Correct Answer: B

Question 2

Your company wants to generate intercompany transactions in USD but only if the amount involved is $3,000 USD or more. Which two intercompany system options are valid?

A. Set the intercompany system option minimum transaction amount to $ 3,000 USD. B. Set the intercompany system option minimum transaction amount to $2,999.99 USD. C. Approval rules need to set the allow of the intercompany transactions to be routed to the receiver or provider. D. Intercompany invoices will be generated for the minimum accountable amount set at the payable invoice options and receivable system options. E. You cannot update the minimum transaction currency when intercompany currency is entered.

Correct Answer: B,D

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Question 3

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 purchase order payment term cannot be overridden. D. The payment term of the invoice overrides the purchase order payment term. E. The user needs to manually change the payment term on the invoice to match the purchase order payment term.

Correct Answer: C

Question 4

Which two statements are true when you are using the Intercompany Reconciliation Reports?

A. The reconciliation period summary report will not show the intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction. B. You can drill down on the links in the Period Summary report to view the balances by Intercompany Organization. C. The reports will include Ledger balancing lines generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance. D. You must run the prepare Intercompany Reconciliation Reporting Information process. E. The reports will show the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.

Correct Answer: E

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Question 5

Which job role has full access to perform all Functional Setup Manager related activities?

A. Application System Administrator B. Any Functional User C. IT Security Manager D. Application Implementation Consultant E. Functional Setup Manager Superuser

Correct Answer: D

Question 6

The payment build program has completed but with errors.
When submitting the payment process request, which processing option is used to review the error messages from the Manage Payment Process Request Inquiry?

A. Enable debug for the payment format program. B. Set the validation failure handling for payments to "stop process for review." C. Set the validation failure handling for payments to "show errors." D. Set the validation failure handling for documents to "show errors."

Correct Answer: B

Question 7

What is the name of the Work Area that is used to access Functional Setup Manager?

A. Functional Setup Manager B. Customize Setup and Maintenance C. Customization Manager D. Functional Work Area E. Setup and Maintenance

Correct Answer: C

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Oracle Financials Cloud: Payables 2023 Implementation Professional - 1Z0-1055-23 Exam Practice Test