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?

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

Answer(s): D,E

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QUESTION: 2

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

Transaction Summary Report will show only transactions with status received.
The reconciliation period summary report will show the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
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.
You must run the Extract Intercompany Reconciliation Data job.
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.

Answer(s): B,D

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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?

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
On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000
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
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

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QUESTION: 4

You have a high volume of invoices to enter that have similar lines and do not require extensive validation. What must you do if you want to group multiple invoices in a batch during spreadsheet entry?

Make sure all the invoice dates are the same.
Assign the same Invoice Header Identifier to multiple invoices you want to group.
Enable the invoice option Require Invoice Grouping, and the system automatically groups invoices entered in the same spreadsheet.
Enter a value in the Invoice Group field to group similar invoices into a batch.
Make sure the Invoice Number is the same.

Answer(s): B

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Free Oracle 1Z0-1055 Exam Braindumps (page: 2)

Pass your Oracle Financials Cloud: Payables 2019 Implementation Essentials exam with these free Actual Questions and Answers

QUESTION: 1

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QUESTION: 4

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