Oracle 1z0-1005 Free Practice Questions

NEW QUESTION 1
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 installment was manually removed.
• B. The invoice has not been accounted.
• C. The pay-through date is in a future period.
• D. The pay-through date is in a closed Payables period.
• E. The invoices need re-validatio

Answer: AE

Explanation:
Reference:
https://docs.oracle.com/cd/E37017_01/doc.1115/e22897/F438410AN16238.htm

NEW QUESTION 2
A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?

• A. Manage Payable Options and Manage Invoice Options
• B. Manage Payable Options and Manage common options for Payables and Procurement
• C. Manage Invoice Options and Manage common options for Payables and Procurement
• D. Manage common options for Payables and Procurement and Manage Procurement agents
• E. Manage Invoice Options and Manage Procurement agents

Answer: B

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

Answer: BC

NEW QUESTION 4
When creating a check payment, from where is the payment document defaulted?

• A. Legal Entity
• B. Back Account
• C. Bank
• D. Business Unit
• E. Supplier

Answer: C

NEW QUESTION 5
You want your expense auditors to audit only expense reports for specific business units. How do you do this?

• A. Make auditors the managers of the corresponding business unit to route expense reports properly.
• B. Create your own audit extension rules that correspond to the business unit.
• C. Assign the expense auditors job role and business unit security context and value to the user.
• D. Create a custom duty role and assign the data roles to each audito

Answer: C

NEW QUESTION 6
An installment for $1,000 USD is due for payment on January 10, 2021. The installment has two discounts: the first discount date is December 5, 2015 for $150 USD and the second discount date is December 20, 2015 for $50 USD. The Pay Date Basis on the supplier site is Discount.
You submit a Payment Process Request with the following criteria:
- Payment Date = December 5, 2015
- Pay Through Date = December 25, 2015
- Date Basis = Pay Date
- Always Take Discount option is enabled
What will be the resulting status of the installment and discount?

• A. The installment is not selected because the first discount date is before the Pay Through Date.
• B. The installment is selected and a discount of $150 USD is applied because the Always Take Discount option was enabled.
• C. The installment is selected but no discount is applied because the payment date is after the discount dates.
• D. The installment is selected and a discount of $50 USD (the second discount) is applied.
• E. The installment is selected and a discount of $200 USD ($150 + $50) is applie

Answer: B

NEW QUESTION 7
Which two setups are required to ensure the same tax is applied on both intercompany payable and receivable invoice?

• A. Payable options are receivable system options should have same tax application options.
• B. Tax for inter-company is to be loaded using Create Taxable Transactions in Spreadsheet.
• C. First enter Payable transaction to calculate tax and then for Receivable Transaction.
• D. You should check if any specific rules defined should cover both Sales_transaction and purchase_transaction business category.
• E. Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.

Answer: CE

NEW QUESTION 8
While processing an expense report, the system placed a payment hold on the expense report. What are two ways to release payment holds?

• A. The employee can manually release the hold.
• B. The employee’s supervisor can manually release the hold.
• C. Payables Manager can release payment holds in Payables.
• D. The expense auditor can manually release the payment hold at his discretion.
• E. Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived.

Answer: DE

NEW QUESTION 9
What are the output formats supported for Electronic and Check format programs?

• A. Electronic output format of etext, Check output format of rtf
• B. Electronic output format of Text, Check output format of Text
• C. Electronic output format of DATA (csv), Check output format of Zipped PDFs
• D. Electronic output format of PDF, Check output format of PDF
• E. Electronic output format of XML, Check output format of rtf

Answer: E

NEW QUESTION 10
Which dashboard or workarea displays the Scanned Invoices region for invoices processed through the Payables Integrated Imaging solution?

• A. Invoices Workarea only
• B. Payables Dashboard and Invoices Workarea
• C. Payables Dashboard only
• D. Manage Invoices page
• E. C-Level executives

Answer: A

Explanation:
Reference: https://docs.oracle.com/cd/E51367_01/financialsop_gs/FAIPP/F1469798AN1007C.htm

NEW QUESTION 11
An installment for $2,000 USD is due for payment on July 31, 2021. The installment has two discounts: the first discount date is June 15, 2021 for $150 USD and the second discount date is June 30, 2021 for $50 USD.
You submit a Payment Process Request with the following criteria:
- Payment Date = June 20, 2021
- Pay Through Date = July 30, 2021
- Date Basis = Due Date
What will be the resulting status of the installment and discount?

• A. The installment is selected and a discount of $150 USD is applied.
• B. The installment is selected and a discount of $50 USD is applied.
• C. The installment is not selected because the due date is after the Pay Through Date.
• D. The installment is selected and no discount is applied.
• E. The installment is not selected because the discount dates are before the Pay Through Dat

Answer: D

NEW QUESTION 12
Identify two ways the invoice imaging solution works in the Cloud.

• A. Customers scan the invoice on-premise and email the images.
• B. Customers cannot use invoice imaging in the Cloud.
• C. Customers scan and store the invoice images on-premise and attach them during invoice entry.
• D. Customers ask their suppliers to scan and email the invoice.
• E. Customers ask suppliers to send electronic invoice

Answer: AD

NEW QUESTION 13
The expense auditor has chosen to Request More Information for an expense report. Select two ways the system processes this action.

• A. The expense report is routed back to the approvers.
• B. The employee must reply to the notification before the reimbursement process can continue.
• C. The employee must resubmit the expense report.
• D. The expense report status remains Pending Payables Approva

Answer: CD

NEW QUESTION 14
Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run?

• A. Run the process Transfer Intercompany transactions to Receivables and Transfer Intercompany transaction to Payables.
• B. For the Legal Jurisdiction, Legal function “Generate intercompany invoice” should be assigned.
• C. Supplier site primary pay flag and customer account bill to primary flag should be enabled.
• D. Manual Approvals should be allowed for the transaction type.
• E. Schedule create accounting for the intercompany process.
• F. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.

Answer: A

Explanation:
Reference: https://docs.oracle.com/cloud/latest/financialscs_gs/FAUGL/FAUGL1476872.htm

NEW QUESTION 15
Which two statements are true related to configuration package?

• A. You can export and import the custom roles from Oracle Identity Manager.
• B. You can export and import selected business object services.
• C. You can export and import selected business units.
• D. You can export and import the approval rules from the approval management engine.
• E. You can export and import the allocation rules from the allocation manage

Answer: AB

NEW QUESTION 16
When reviewing installments, what setup is required to override the supplier site on an invoice?

• A. Allow the remit-to supplier override for third-party payments at Manage Payment options.
• B. Allow payee to override for third-party payments while Manage Invoice options.
• C. Allow the remit-to supplier address override for third-party payments at Manage Invoice options.
• D. Allow the remit-to supplier override for third-party payments at Manage Invoice option

Answer: D

NEW QUESTION 17
You want to route invoices to three different approvers at the same time and only one approver needs to approve the invoice. Which approval ruleset should you use?

• A. InvoiceApproversSingleParticipantInParallelMode
• B. InvoiceApprovers
• C. InvoiceApproversParallelParticipantInParallelMode
• D. InvoiceApproversFYIParticipantInParallelMode

Answer: A

NEW QUESTION 18
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 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000and thenOn Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000
• B. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000
• C. On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000
• D. On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On Jan 10th, Debit Prepaid Expense for 12,000 and Credit Liability for 12,000

Answer: A

NEW QUESTION 19
You want to customize the Payables Invoice Register template to only display invoices when the Supplier name is Company

• A. Supplier name is a group that repeats on every pag
• B. Which is the correct way to customize the template?
• C. Insert the syntax <?if:’COMPANY A’?> before the Supplier field and then enter the closing tag</<?if:COMPANY A?> after the invoices table.
• D. Insert the syntax <?if:VENDOR_NAME=’COMPANY A’?> before the Supplier field on the templat
• E. Then, enter the <?end if?> tag after the invoices table.
• F. Hard code Supplier Name “Company A” in the report template and only invoices for that supplier will be displayed.
• G. Insert the syntax <?if:condition?> before the Supplier field and then enter the closing tag </<? if:condition?>.

Answer: B

NEW QUESTION 20
You created a payment and before it is cashed by the supplier you mistakenly submitted a request to stop payment. Later you canceled the request to stop payment. What is the resulting payment status?

• A. Canceled
• B. Stop initiated
• C. Negotiable
• D. Available
• E. Voided
• F. Cleared

Answer: F

NEW QUESTION 21
The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct?

• A. Voiding the payment automatically places an invoice on hold.
• B. Any previous accounting and payment records for an invoice are reversed.
• C. Any realized gain or loss previously calculated is reversed.
• D. All related withholding tax invoices are automatically voided.
• E. All related interest invoices are reversed if previously create

Answer: BCE

NEW QUESTION 22
A company has a requirement to default the disbursement bank account when submitting a Payment Process Request.
Which two actions will accomplish this?

• A. Define the Disbursement Bank Account to every supplier.
• B. Define the Disbursement Bank Account to the Payment Method in payment default rules.
• C. Assign the Disbursement Bank Account to users to have the payment process default the bank account.
• D. Create a Payment Process Request template that includes the Disbursement Bank Account.
• E. Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account.

Answer: BD

NEW QUESTION 23
Which method can you use to route payment approval rules?

• A. Serial and FYI (For Your Information)
• B. Approval Groups
• C. Both Parallel and Sequential
• D. Sequential
• E. Parallel

Answer: B

NEW QUESTION 24
An invoice for $200 USD and a credit memo for $225 USD are due for payment and the “Apply credits up to zero amount” option is enabled for the payment process request. Which statement is correct?

• A. 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.
• B. 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.
• C. The payment process request creates a refund for $225 USD and leaves the invoice unpaid.
• D. The payment process request pays only $200 USD alon

Answer: D

NEW QUESTION 25
Which three are attributes that are recognized by Invoice Imaging?

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

Answer: ADE

NEW QUESTION 26
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