Free Oracle 1Z1-1055 Exam Dumps Questions & Answers

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 creates a refund for $225 USD and leaves the invoice unpaid.
• B.  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.
• 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 pays only $200 USD alone.

An Office supplies company requires an advance payment of $8000 for the office supplies you wish to order. You enter and pay a prepayment type invoice for $8000. You enter the standard invoice to book the expense which totals $10000 and you apply the prepayment to the standard invoice.
What are the accounting entries for that standard invoice with the prepayment application?

• A.  Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability Account 2000 Cr Prepayment Account 2000.
• B.  Invoice accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.The prepayment application has no impact on the Invoice.
• C.  Invoice Accounting - Dr Prepayment Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr Expense Account 8000 Cr Prepayment Account 8000.
• D.  Invoice accounting - Dr Expense Account 10000 Cr AP Liability Account 10000.Prepayment application - Dr AP Liability 8000 Cr Prepayment Account 8000.

You have two business units, Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?

• A.  Assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles to each Expense Auditor.
• B.  Assign the Expense Auditor job roles to each auditor.
• C.  Assign the Expense Auditor as the owner of each business unit.
• D.  Use segment valuesecurity rules to secure access to business units.

Identify three statements that indicate the purpose of Functional Setup Manager.

• A.  It allows you to centrally manage the close processes across subledgers and ledgers.
• B.  It provides a central place to access and perform all of the setup steps across the applications.
• C.  it allows you to assign setup tasks to individuals with due dates where users must manually update their completion status.
• D.  It automatically marks the completion status of tasks as Completed once they have been completed.
• E.  It automatically generates lists of setup tasks in the correct sequence with dependencies highlighted.

You need to create a recurring expense for one of your regular expenses.
Which three are frequencies that you can choose for these types of expenses? (Choose three.)

• A.  Biweekly
• B.  Bimonthly
• C.  Monthly
• D.  Annually
• E.  Weekly