1Z0-1055-21 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.

Which two statements are true when you are using the Intercompany Reconciliation Reports? (Choose two.)

A. You must run the prepare Intercompany Reconciliation Reporting Information process.

B. 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.

C. The reports will show the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.

D. The reports will include Ledger balancing lines 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.

E. You can drill down on the links in the Period Summary report to view the balances by Intercompany Organization.

You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?

A. Needs Revalidation

B. Not Validated

C. Not Required

D. Imported

E. Validated

What two job roles are required to access information within Functional Setup Manager? (Choose two.)

A. Application Implementation Manager

B. Any Functional User

C. Application Implementation Consultant

D. Functional Setup Manager Superuser

E. IT Security Manager

An installment for $2,000 USD is due for payment on July 31, 2018. The installment has two discounts: the first discount date is June 15, 2018 for $150 USD and the second discount date is June 30, 2018 for $50 USD. You submit a Payment Process Request with the following criteria: Payment Date = June 20, 2018 Pay Through Date = July 30, 2018 Date Basis = Due Date What will be the resulting status of the installment and discount?

A. The installment is not selected because the discount dates are before the Pay Through Date.

B. The installment is selected and no discount is applied.

C. The installment is not selected because the due date is after the Pay Through Date.

D. The installment is selected and a discount of $50 USD is applied.

E. The installment is selected and a discount of $150 USD is applied.

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.

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.

You want to customize the Payables Invoice Register template to only display invoices when the Supplier name is Company

A. Supplier name is a group that repeats on every page. Which is the correct way to customize the template?

B. Insert the syntax before the Supplier field on the template. Then, enter the tag after the invoices table.

C. Insert the syntax before the Supplier field and then enter the closing tag .

D. Insert the syntax before the Supplier field and then enter the closing tag after the invoices table.

E. Hard code Supplier Name "Company A" in the report template and only invoices for that supplier will be displayed.

A Bill Payable document was paid but has not yet matured. What is the status of the payment?

A. In Transit

B. Cleared

C. Negotiable

D. Issued

You purchased a computer from Company A for 2000 USD. Company B ships you the computer with freight charges of 100 USD. You would like the cost of the computer to include those freight charges. How can you achieve this?

A. Choose Match to Receipt.

B. Enter the Invoice manually and add the freight line.

C. Choose to Match to Receipt Charges.

D. Choose to Match to Invoice Lines.

E. Choose to Match in full to the Purchase Order.