1Z0-1005 Online Practice Questions and Answers

Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?

A. Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers.

B. Define a Tax Status and Rate for Exempt, define a Party Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Party Fiscal Classification.

C. Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab.

D. Define a Tax Status and Rate for Exempt, define a Supplier Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification.

You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?

A. Enter the invoice via a spreadsheet. Then, from the Manage Invoices page, query the invoice, validate it, create accounting, and then open general ledger's Manage Journals page and post the associated invoice journal entry.

B. Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.

C. Enter and post a manual journal entry directly into the general ledger.

D. Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.

When reviewing installments, what setup is required to override the supplier site on an invoice?

A. Allow the remit-to supplier override for third-party payments at Manage Invoice options.

B. Allow the remit-to supplier address override for third-party payments at Manage Invoice options.

C. Allow payee to override for third-party payments while Manage Invoice options.

D. Allow the remit-to supplier override for third-party payments at Manage Payment options.

Which two statements are true related to configuration package? (Choose two.)

A. You can export and import the custom roles from Oracle Identity Manager.

B. You can export and import the allocation rules from the allocation manager.

C. You can export and import the approval rules from the approval management engine.

D. You can export and import selected business units.

E. You can export and import selected business object services.

Your company policy requires that receipts be attached to expense report items before reimbursement can

be made.

Which two statements are true about the association of a receipt to an expense report? (Choose two.)

A. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.

B. Receipts are not required if the expense item falls within Per Diem Rates.

C. Expenses do not create payment requests for expense reports that have missing or overdue receipts.

D. An expense report may require original, imaged, or both types of receipts.

An invoice for $200 USD and a credit memo for $225 USD are due for payment and the "Apply credits up to zero amount" option is enabled for the payment process request. Which statement is correct?

A. The payment process request pays only $200 USD alone.

B. The payment process request applies $200 USD of the credit memo to the invoice, leaving a remaining credit of $25 USD, and creates a payment for $0 USD.

C. The payment process request creates a refund for $225 USD and leaves the invoice unpaid.

D. The payment process request doesn't select the invoice or credit memo for payment because the credit reduces the payment to - $25 USD, which is below zero.

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

Identify three scenarios where you are not allowed to cancel an invoice. (Choose three.)

A. Prepayments were applied to the invoice.

B. An accounting entry has been created for the invoice.

C. The invoice is validated.

D. The invoice is fully or partially paid.

E. The invoice was adjusted by a credit or a debit memo.

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

A. RTF

B. JPEG

C. TIFF

D. XLS

E. PNG

Which three are valid reasons why you cannot close your Payables period? (Choose three.)

A. Bills payable requiring maturity

B. Unaccounted invoices and payments

C. Suppliers on payment holds

D. Unapplied prepayments

E. Incomplete payment files