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Oracle 1Z0-1055-23 Exam Syllabus Topics:

SectionObjectives
Topic 1: Tax and Accounting Integration- Tax configuration and calculation
  • 1. Tax rules in Payables
    - Subledger accounting integration
    • 1. Accounting entries for invoices and payments
      Topic 2: Reporting and Period Close- Payables reporting
      • 1. Standard Payables reports
        - Period close activities
        • 1. Reconciliation and period close process
          Topic 3: Invoice Processing- Invoice creation and validation
          • 1. Manual and automated invoice entry
            • 2. Invoice validation and approval workflow
              Topic 4: Payables Setup and Configuration- Payables application configuration
              • 1. Ledger and accounting setup for Payables
                • 2. Payables options configuration
                  Topic 5: Supplier Management- Supplier setup and maintenance
                  • 1. Supplier validation rules
                    • 2. Supplier and supplier site configuration
                      Topic 6: Payments Processing- Payment processing and execution
                      • 1. Payment methods and formats
                        • 2. Payment runs and settlements

                          Oracle Financials Cloud: Payables 2023 Implementation Professional Sample Questions:

                          Question #1

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

                          • A. company segment, cost center segment, supplier, and Attribute 1 on the invoice line
                          • B. supplier only
                          • C. company and cost center segment only
                          • D. cost center segment and supplier only
                          Reveal Solution  Discussion  0

                          Correct Answer: A  🗳️

                          Question #2

                          Which three are valid reasons why you cannot close your Payables period? (Choose three.)

                          • A. Unaccounted invoices and payments
                          • B. Bills payable requiring maturity
                          • C. Incomplete payment files
                          • D. Suppliers on payment holds
                          • E. Unapplied prepayments
                          Reveal Solution  Discussion  0

                          Correct Answer: A,C,E  🗳️

                          Question #3

                          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. Set the validation failure handling for payments to "stop process for review."
                          • B. Enable debug for the payment format program.
                          • C. Set the validation failure handling for documents to "show errors."
                          • D. Set the validation failure handling for payments to "show errors."
                          Reveal Solution  Discussion  0

                          Correct Answer: A  🗳️

                          Question #4

                          If you accidentally paid an invoice using Create Payment flow, can you undo the operation?

                          • A. Cancel the invoice and create a new one.
                          • B. yes, by canceling the payment process from the process monitor
                          • C. no
                          • D. yes, by creating a credit memo to offset the payment
                          • E. yes, by voiding the payment created
                          Reveal Solution  Discussion  0

                          Correct Answer: C  🗳️

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                          Question #5

                          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 pays only $200 USD alone.
                          • B. The payment process request creates a refund for $225 USD and leaves the invoice unpaid.
                          • C. 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.
                          • D. 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.
                          Reveal Solution  Discussion  0

                          Correct Answer: A  🗳️

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