Free Practice Oracle 1Z0-1055-24 Exam Questions 2025

Stay ahead with 100% Free Oracle Financials Cloud: Payables 2024 Implementation Professional 1Z0-1055-24 Dumps Practice Questions

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Total 54 Questions | Updated On: Mar 26, 2025

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Question 1

You are testing the Payables to General Ledger Reconciliation report at the ledger level for your UK Ledger. You have run and selected the extract for the report but the request returned the message: "No data to display". What is the reason for this?

A : The reconciliation flag has not been enabled for your liability accounts.

B : You did not specify the range of liability accounts to include in the extract.

C : You did not select the business units associated to the UK Ledger.

D : The financial category of Accounts Payable is not assigned to the liability accounts.

Answer: D

Question 2

Which three options are available to filter data when you submit thePrepare Payables to Ledger Reconciliation Report?

A : Business Unit

B : Accounting Period

C : Balancing Segment Value

D : Supplier

E : Primary Ledger

F : Natural Account

Answer: A,B,C

Question 3

An installment meets all of the selection criteria of a Payment Process Request but it still did not get selected for payment processing. Identify two reasons for this.

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

B : The pay-through date is in a future period.

C : The invoices need revalidation.

D : The invoice has not been accounted.

E : The installment was manually removed.An installment can meet the selection criteria of a payment process request, yet not get selected for payment for one or more reasons.You can review installments that were not selected for payment, along with the reasons they were not selected, on the Not Selected tab of the Review Installments page.The reasons are as follows:References:https://docs.oracle.com/cd/E37017_01/doc.1115/e22897/F438410AN16238.htm

Answer: A,C

Question 4

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.