QUESTION: 17

Which two statements are true when you are using the Intercompany Reconciliation Reports? (Choose two.)

You must run the prepare Intercompany Reconciliation Reporting Information process.
The reconciliation period summary report will not show the intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction.
The reports will show the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
The reports will include Ledger balancing lines generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.
You can drill down on the links in the Period Summary report to view the balances by Intercompany Organization.

Answer(s): B

Explanation:

A (not C): The Reconciliation Period Summary report displays the intercompany receivables and intercompany payables balances in summary for a period, and any differences between them.

D:Ledger balancing lines generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance

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QUESTION: 18

You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?

Needs Revalidation
Not Validated
Not Required
Imported
Validated

Answer(s): D

Explanation:

After the import process builds the invoices, the invoices can be viewed, modified, and validated on the Manage Invoices page.

Reference:

https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_A149B7BD08207B6DE040D30 A68816335

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QUESTION: 19

You have successfully processed the expense reports for reimbursement and have transferred the information to Payables. What is the next step before you can pay them?

Transfer the data to General Ledger.
Validate the invoice in Payables.
Create a payment process request in Payments.
Create Accounting for the invoice in Payables.

Answer(s): B

Explanation:

Oracle Fusion Expenses provides reimbursement functionality that ensures corporate card issuers and employees are reimbursed for business expenses. Expenses uses Oracle Fusion Payables to process expense reports for reimbursement. To reimburse card issuers and employees, the expense auditor runs the Process Expense Reimbursement process and the corporate card administrator runs the process, Create Corporate Card Issuer Payment Requests. After payment requests are created in Payables, corporate card issuers and employees are paid by Oracle Fusion Payments.

This figure shows the flow of data when the expense auditor runs the Process Expense Reimbursement program.

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QUESTION: 20

Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run? (Choose two.)

For the Legal Jurisdiction, Legal function: “Generate intercompany invoice” should be assigned.
Schedule create accounting for the intercompany process.
Supplier site primary pay flag and customer account bill to primary flag should be enabled.
Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.
Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables.
Manual Approvals should be allowed for the transaction type.

Answer(s): C,E

Reference:

https://docs.oracle.com/cloud/latest/financialscs_gs/FAUGL/FAUGL1476872.htm

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Free Oracle 1Z0-1055-22 Exam Questions (page: 6)

QUESTION: 17

Explanation:

QUESTION: 18

Explanation:

Reference:

QUESTION: 19

Explanation:

QUESTION: 20

Reference:

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