Free Access Oracle.1Z0-1055-21.v2022-07-04.q48 Practice Test (Page 7)

Question 26

You entered an invoice of 12,000 and paid it for Office Suppliers. The payment was never received by the supplier, and you decide to return the entire order. What should you do?

A.Issue a credit memo, which will debit the liability and credit the expense.

B.Void the payment, which debits cash and credits the liability, and then issue a credit memo, which debits the liability and credits the expense.

C.Cancel the invoice, which debits the liability and credits the expense.

D.Void the payment, which debits cash and credits the liability, and then cancel the invoice, which debits the liability and credits the expense.

Question 27

Which two are classified as Self-Billed invoices? (Choose two.)

A.Customer Refunds initiated from Receivables

B.Evaluated Receipt Settlement (ERS) Invoices

C.Invoices created using Integrated Imaging

D.Expense Reports transferred from Expenses

E.Debit Memos created by the Return to Supplier feature

F.Invoices entered through the Supplier Portal

Question 28

You are using both Procurement and Financials. You want the system to automatically accrue uninvoiced receipts. Select two true statements. (Choose two.)

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

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

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

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

Question 29

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 pay-through date is in a closed Payables period.

B.The pay-through date is in a future period.

C.The invoices need revalidation.

D.The invoice has not been accounted.

E.The installment was manually removed.

Question 30

Which is the Payables tool based on real-time data?

A.Essbase Cube

B.Smart View

C.Oracle Transactional Business Intelligence (OTBI)

D.Oracle Business Intelligence Applications (OBIA)

E.Oracle Financial Reporting (FR)

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Question 26

Question 27

Question 28

Question 29

Question 30

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