Free 1Z0-1055 Braindumps


  • Exam Number: 1Z0-1055
  • Provider: Oracle
  • Questions: 80
  • Updated On: 23-May-2020

QUESTION: 1
While processing an expense report, the system placed a payment hold on the expense report.
What are two ways to release payment holds?

A. The employee can manually release the hold.
B. The employee's supervisor can manual y release the hold.
C. Payables Manager can release payment holds in Payables.
D. The expense auditor can manual y release the payment hold at his discretion.
E. Based on the receipt status, the Expenses program can automatical y release the payment
hold once it detects that receipts are received or waived.

Answer(s): D, E
QUESTION: 2

Which two statements are true when you are using the Intercompany Reconciliation Process?

A. Transaction Summary Report wil show only transactions with status received.
B. The reconciliation period summary report wil show the intercompany receivable and the
intercompany payable lines generated by the intercompany balancing feature.
C. Ledger balancing lines are 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.
D. You must run the Extract Intercompany Reconciliation Data job.
E. The reconciliation period summary report wil not show the intercompany receivables and
intercompany payables lines generated for the provider and receiver of each intercompany
transaction.

Answer(s): B, D
QUESTION: 3

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: 4

You have a high volume of invoices to enter that have similar lines and do not require extensive
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