Oracle Financials Cloud: Payables 2023 Implementation Professional

QUESTION NO: 1
Which invoice types can be included in the Create Payment flow?

A. Standard, Credit Memo and Customer Refund B. Standard, Debit Memo and Customer Refund C. Standard, Credit Memo, and Invoice Request D. Standard, Credit Memo and Debit Memo

Correct Answer: D

QUESTION NO: 2
If you accidentally paid an invoice using Create Payment flow, can you undo the operation?

A. yes, by voiding the payment created B. yes, by canceling the payment process from the process monitor C. no D. Cancel the invoice and create a new one. E. yes, by creating a credit memo to offset the payment

Correct Answer: C

Explanation: Only visible for Pass4Test members. You can sign-up / login (it's free).

QUESTION NO: 3
Which three reports are generated by the export setup data process? (Choose three.)

A. Exported Business Object Report B. Setup Data Report C. Process Results Detail Listing Report D. Process Results Summary Report E. Process Results Report

Correct Answer: C,D,E

QUESTION NO: 4
You are voiding a payment and have selected Cancel as the Invoice Action. After performing the void, you notice the invoice is not cancelled but has an Invoice Cancel hold on it.
What is reason for this?

A. The invoice accounting date is not in the current open period. B. The invoice is already on hold. C. The invoice has been partially paid by another payment. D. The invoice date is not in the current open period.

Correct Answer: C

QUESTION NO: 5
You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid?

A. Both the invoice and credit memo are included in the payment process request for a payment amount of $0 USD. The credit memo is partially paid with a remaining credit of $25 USD. B. Both the invoice and the credit memo are paid and a refund of $25 USD is created. C. Both the invoice and the credit memo are selected and the Payment Process Request requires attention. D. Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero.

Correct Answer: A

Explanation: Only visible for Pass4Test members. You can sign-up / login (it's free).

QUESTION NO: 6
You need to enter a high volume of users into the system. What is Oracle's recommendation to do this?

A. Use the spreadsheet templates available in Oracle Enterprise Repository (OER) and then import users into Cloud Applications. B. Use the Enter a Supplier user interface and enter each user manually. C. use the spreadsheet of Oracle Identity Manager (OIM) to import users. D. Use the Hire an Employee user interface and enter each user manually.

Correct Answer: B

Explanation: Only visible for Pass4Test members. You can sign-up / login (it's free).

QUESTION NO: 7
You need to submit a 1099 report; your State format has changed slightly since last year. How should you submit your 1099s for the State in the current year?

A. Generate a 1096 form and submit it instead. B. Manually enter the 1099s for the State and submit. C. Edit the 1099 template to reflect the changes, and then run and submit the 1099 report. D. Run and submit your 1099s because it will automatically reflect any changes.

Correct Answer: C

Oracle Financials Cloud: Payables 2023 Implementation Professional - 1Z0-1055-23 Exam Questions