Free 1z0-1005 Braindumps


  • Exam Number: 1z0-1005
  • Provider: Oracle
  • Questions: 80
  • Updated On: 25-May-2020

QUESTION: 1
An installment meets all of the selection criteria of a Payment Process Request but it stil did not
get selected for payment processing. Identify two reasons for this.

A. The installment was manual y removed.
B. The invoice has not been accounted.
C. The pay-through date is in a future period.
D. The pay-through date is in a closed Payables period.
E. The invoices need re-validation.

Answer(s): A, E

Explanation:
Reference https://docs.oracle.com/cd/E37017_01/doc.1115/e22897/F438410AN16238.htm
QUESTION: 2

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

Answer(s): A
QUESTION: 3

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

A. The purchase order payment term cannot be overridden.
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 invoice overrides the purchase order payment term.
E. The payment term of the purchase order overrides the invoice payment term.

Answer(s): BQUESTION: 4
Which two setups are required to ensure the same tax is applied on both intercompany payable
and receivable invoice?

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