Free Oracle 1z0-1055-20 Exam Dumps Questions & Answers

Before you can configure payment approval rules, your company must define a payment approval policy.
Which three are done by the payment approval policy? (Choose three.)

• A.  It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.
• B.  It determines which payments must go through the payment approval process.
• C.  It defines when to initiate the payment approval process.
• D.  It defines a list of approvers who review payments and make final payment decisions.
• E.  It allows approvers to review payments and decide whether or not to approve a payment.

Your customer has an electronic payment format program in use and wants all the documents to use the pay group "Domestic". What should you do to achieve this?

• A.  Define a user validation at the format program to include: Field "Document pay group", condition
  "Equal to String", and value "Domestic".
• B.  Define a user validation at the formatprogram to include: Field "Document pay group", condition
  "Equal to String", value "Domestic", and Field "Format Program Code", condition "Equal to String" and value - as desired.
• C.  Modify your template to hard code the value "Domestic" for the pay group position.
• D.  Define a user validation at the format program to include: Field "Document pay group", condition
  "Equal to String", value "Domestic", and Field "Document pay group", condition "Required" and value
  - not applicable.

A Payment Process Request was submitted and errors were found in the payment file. The payment file and process were terminated.
Which two statements are true? (Choose two.)

• A.  The status of each payment in the payment file is Cancelled and the related documents are available for future selection.
• B.  The status of each payment in the payment file is Terminated.
• C.  The invoices are placed on payment hold.
• D.  The status of the payment file is Terminated.
• E.  The status of the payment file is Cancelled.

Your customer matches their invoices to a purchase order and have noticed that the payment terms are defaulting from the order. For some suppliers, they would like to use the payment terms from the supplier site.
How can the customer achieve this?

• A.  Enter the payment terms in the Manage Invoice Options page so they default onto the invoice.
• B.  Enter the payment terms at the Supplier level so they default onto the invoice.
• C.  Enter the payment terms in the Manage Payment Options page so they default onto the invoice.
• D.  Manually override the payment terms that have defaulted from the purchase order for those suppliers.
• E.  Enter the payment terms at the supplier site level so they default onto the invoice.

Identify what Oracle considers two best practices when setting up Payables and Receivables account access for bank reconciliation. (Choose two.)

• A.  Allow bank accounts to be accessed by all roles and users because the default value to secure a bank account by users and roles is No.
• B.  Business units must be granted access to the bank account.
• C.  Assign a few general ledger cash accounts to multiple bank accounts to facilitate book-tobank reconciliation.
• D.  Only business units who use the same ledger as the bank accounts owning legal entity can be assigned access.
• E.  Do not assign bank accounts to business units.