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

1Z0-1055-23 Exam Questions
  • Exam Code: 1Z0-1055-23
  • Exam Name: Oracle Financials Cloud: Payables 2023 Implementation Professional
  • Updated: Oct 31, 2026
  • Q & A: 143 Questions and Answers
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Oracle 1Z0-1055-23 exam demo

Oracle 1Z0-1055-23 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Payables Configuration and Setup30%- Configure Payables System Options
  • 1. Define tax configurations and withholding tax rules
    • 2. Set up payment terms, payment methods, and payment formats
      - Configure Enterprise Structures
      • 1. Set up business units, legal entities, and ledgers
        • 2. Define supplier master data and supplier sites
          Topic 2: Invoice Processing and Management25%- Prepayments and Expense Invoices
          • 1. Apply and account for prepayments
            • 2. Process employee expense reports and invoices
              - Invoice Entry and Validation
              • 1. Validate invoices, resolve holds, and perform matching
                • 2. Enter standard invoices, credit memos, and debit memos
                  Topic 3: Reporting, Integration, and Maintenance20%- Reporting and Analytics
                  • 1. Run standard payables reports and create custom reports
                    • 2. Use Business Intelligence and reporting tools
                      - Integration and Maintenance
                      • 1. Integrate with other Oracle Cloud modules
                        • 2. Perform period-end close and maintenance activities
                          Topic 4: Payments and Disbursements25%- Payment Processing
                          • 1. Create, approve, and issue payments
                            • 2. Manage payment batches and bank accounts
                              - Reconciliation and Accounting
                              • 1. Reconcile payables to general ledger
                                • 2. Account for payments, discounts, and foreign currency transactions

                                  Oracle Financials Cloud: Payables 2023 Implementation Professional Sample Questions:

                                  Question #1

                                  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 applies $200 USD of the credit memo to the invoice, leaving a remaining credit of $25 USD, and creates a payment for $0 USD.
                                  • B. The payment process request pays only $200 USD alone.
                                  • C. 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.
                                  • D. The payment process request creates a refund for $225 USD and leaves the invoice unpaid.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B  πŸ—³οΈ

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

                                  Question #2

                                  You need to route invoices to three different approvers at the same time, and only one approver needs to approve the invoice.
                                  Which approval ruleset should you use?

                                  • A. ParallelTypeParticipantInParallelModeRuleSet
                                  • B. FyiTypeParticipantInParallelModeRuleSet
                                  • C. InvoiceApprovalRuleSet
                                  • D. SingleTypeParticipantInParallelModeRuleSet
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  πŸ—³οΈ

                                  Question #3

                                  The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct? (Choose three.)

                                  • A. Any previous accounting and payment records for an invoice are reversed.
                                  • B. All related interest invoices are reversed if previously created.
                                  • C. Any realized gain or loss previously calculated is reversed.
                                  • D. Voiding the payment automatically places an invoice on hold.
                                  • E. All related withholding tax invoices are automatically voided.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A,C,E  πŸ—³οΈ

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

                                  Question #4

                                  Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?

                                  • A. The payment term of the invoice overrides the purchase order payment term.
                                  • B. The user needs to manually change the payment term on the invoice to match the purchase order payment term.
                                  • C. The purchase order payment term cannot be overridden.
                                  • D. The user needs to specify which payment term to use.
                                  • E. The payment term of the purchase order overrides the invoice payment term.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  πŸ—³οΈ

                                  Question #5

                                  You have an invoice with a payment term that has the following settings:
                                  * Day of Month = 15
                                  * Cut off Day = 11
                                  * Months Ahead = 0
                                  * Terms Date on Invoice = January 12th
                                  What will the resulting due date for the invoice installment be?

                                  • A. January 15th
                                  • B. April 15th
                                  • C. February 15th
                                  • D. March 15th
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  πŸ—³οΈ

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