1Z0-1055-20 Online Practice Questions and Answers

You have invoices with distributions across primary balancing segments that represent different

companies.

What feature should you use if you want the system to automatically balance your invoice's liability amount

across the same balancing segments on the invoice distributions?

A. Payable's Automatic Offset

B. Intercompany Balancing

C. Subledger Accounting's Account Rules

D. Suspense Accounts

E. Payables' Allow Reconciliation Accounting

An installment meets all the selection criteria of a Payment Process Request, but it still does not get

selected for payment processing.

What are the two possible reasons for this? (Choose two.)

A. The pay-through date is in a closed Payables period.

B. The invoice has not been accounted.

C. The invoice requires approval.

D. The pay-through date is in a future period.

E. The invoice needs re-validation.

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.)

A. For the Legal Jurisdiction, Legal function: "Generate intercompany invoice" should be assigned.

B. Schedule create accounting for the intercompany process.

C. Supplier site primary pay flag and customer account bill to primary flag should be enabled.

D. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.

E. Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables.

F. Manual Approvals should be allowed for the transaction type.

How will system evaluate the tolerances for expense reports?

A. System will calculate error tolerance as (|Policy Rate * (1+Error Tolerance/100)|) currency precision.

B. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100)*currency precision.

C. System will calculate error tolerance as Policy Rate * (1+Warning Tolerance+ Error Tolerance/100).

D. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100).

E. System will use absolute amount tolerance setup to do validations.

You are using both Procurement and Financials. You want the system to automatically accrue uninvoiced receipts. Select two true statements. (Choose two.)

A. For period end accruals, accounting is created at material receipt or at delivery to a final destination.

B. For period end accruals, the invoice accounting debits the expense account and credits the liability account.

C. For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account.

D. For period end accruals, the invoice accounting for inventory items debits receipt inventory and credits the uninvoiced receipts.

You created a payment and before it is cashed by the supplier you mistakenly submitted a request to stop payment. Later you canceled the request to stop payment. What is the resulting payment status?

A. Voided

B. Negotiable

C. Stop initiated

D. Available

E. Canceled

F. Cleared

Which three are subject area subfolders that report Payables reconciliation differences to General Ledger? (Choose three.)

A. Reconciliation Payment Details

B. Reconciliation Prepayment Application Details

C. Reconciliation Invoice Details

D. Reconciliation Invoice Hold Details

E. Reconciliation Invoice Request Details

You need to create a recurring expense for one of your regular expenses. Which three are frequencies that you can choose for these types of expenses? (Choose three.)

A. Weekly

B. Monthly

C. Bimonthly

D. Biweekly

E. Annually

Which three are supported image formats for the Integrated Imaging solution? (Choose three.)

A. RTF

B. JPEG

C. TIFF

D. XLS

E. PNG

A company has a requirement to pay small suppliers outside of Payables, but it does not want to manually

record each payment.

Which solution should you implement?

A. Create payments by using the Check Payment method for those suppliers and then destroy those checks.

B. Create payments by using Electronic Funds Transfer (EFT) for those suppliers but do not send the electronic file to the bank.

C. Create payments by using a clearing payment method for thosesuppliers because this payment method does not generate a file.

D. Create a payment by using a wire payment method for those suppliers.