Online Access Free 1z0-1055-20 Practice Test

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? (Choose two.)

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

A company has a requirement to pay small suppliers outside of Payables, but it does not want to manually record each payment.
Which solution should you implement?

• A.Create payments by using a clearing payment method for thosesuppliers because this payment method does not generate a file.
• B.Create payments by using the Check Payment method for those suppliers and then destroy those checks.
• C.Create payments by using Electronic Funds Transfer (EFT) for those suppliers but do not send the electronic file to the bank.
• D.Create a payment by using a wire payment method for those suppliers.

XYZ Supplier has third party relationships defined with ABC Supplier and ACME Corporation. However, when reviewing the invoice installments for XYZ Supplier the payables specialist is unable to override the remit-to supplier name and address on the Invoice installments.
What is the reason for this?

• A.The option 'Allow remit-to supplier override for third-party payments' is not checked in the Common Options for Payables and Procurement page for the business unit.
• B.The option 'Allow remit-to supplier override for third-party payments' is not checked in the Payment Options page for the business unit.
• C.The option 'Allow remit-to supplier override for third-party payments' is not checked in the Disbursement System Options page for the business unit.
• D.The option 'Allow remit-to supplier override for third-party payments' is not checked in the Invoice Options page for the business unit.

Which attributes on the payables invoice can be used during approval rule creation?

• A.company and cost center segment only
• B.cost center segment and supplier only
• C.company segment, cost center segment, supplier, and Attribute 1 on the invoice line
• D.supplier only

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