QUESTION: 5

Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?

Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers.
Define a Tax Status and Rate for Exempt, define a Party Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Party Fiscal Classification.
Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab.
Define a Tax Status and Rate for Exempt, define a Supplier Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification.

Answer(s): A

QUESTION: 6

A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?

Manage Invoice Options and Manage common options for Payables and Procurement
Manage Payable Options and Manage Invoice Options
Manage Invoice Options and Manage Procurement agents
Manage common options for Payables and Procurement and Manage Procurement agents
Manage Payment Options and Manage common options for Payables and Procurement

Answer(s): B

Explanation:

You can change the conversion rate type at invoice entry or payment creation time.

References:
https://docs.oracle.com/cloud/latest/financialscs_gs/FAIPP/FAIPP1470345.htm

Reference:

References:
https://docs.oracle.com/cloud/latest/financialscs_gs/FAIPP/FAIPP1470345.htm

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QUESTION: 7

Which method can you use to route payment approval rules?

Approval Groups
Sequential
Both Parallel and Sequential
Parallel
Serial and FYI (For Your Information)

Answer(s): A

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QUESTION: 8

You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?

Enter the invoice via a spreadsheet. Then, from the Manage Invoices page, query the invoice, validate it, create accounting, and then open general ledger's Manage Journals page and post the associated invoice journal entry.
Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.
Enter and post a manual journal entry directly into the general ledger.
Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.

Answer(s): B

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Free Oracle 1Z0-1055-20 Exam Braindumps (page: 3)

QUESTION: 5

QUESTION: 6

Explanation:

Reference:

QUESTION: 7

QUESTION: 8

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