Online Access Free 1Z1-1055 Practice Test

Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?

• A.Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers.
• B.Define a Tax Status and Rate for Exempt, define a Supplier Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification.
• C.Define a Tax Status and Rate for Exempt, define a Party Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Party Fiscal Classification.
• D.Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab.

You need to submit a 1099 report; your State format has changed slightly since last year. How should you submit your 1099s for the State in the current year?

• A.Manually enter the 1099s for the State and submit.
• B.Run and submit your 1099s because it will automatically reflect any changes.
• C.Edit the 1099 template to reflect the changes, and then run and submit the 1099 report.
• D.Generate a 1096 form and submit it instead.

What is the difference between subject areas that append the word "Real Time" and those that do not?

• A.The "Real Time" subject areas are based on real-time transactions and those that are not, are based on historical data.
• B.The "Real Time" subject areas are based on subledger transactions and the ones that are not are based on general ledger balances.
• C.There is no difference.
• D.The "Real Time" subject areas are based on real-time transactions in the applications, and those that are not, are based on data stored in the Oracle Business Intelligence Applications data warehouse.

You need to enter a high volume of users into the system. What is Oracle's recommendation to do this?

• A.Use the Hire an Employee user interface and enter each user manually.
• B.use the spreadsheet of Oracle Identity Manager (OIM) to import users.
• C.Use the spreadsheet templates available in Oracle Enterprise Repository (OER) and then import users into Cloud Applications.
• D.Use the Enter a Supplier user interface and enter each user manually.

Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?

• A.The payment term of the invoice overrides the purchase order payment term.
• B.The user needs to manually change the payment term on the invoice to match the purchase order payment term.
• C.The user needs to specify which payment term to use.
• D.The payment term of the purchase order overrides the invoice payment term.
• E.The purchase order payment term cannot be overridden.