Online Access Free 1Z0-1055 Exam Questions

Your customer matches their invoices to a purchase order and have noticed that the payment terms are defaulting from the order. For some suppliers, they would like to use the payment terms from the supplier site.
How can the customer achieve this?

• A.Enter the payment terms at the Supplier level so they default onto the invoice.
• B.Enter the payment terms in the Manage Invoice Options page so they default onto the invoice.
• C.Enter the payment terms in the Manage Payment Options page so they default onto the invoice.
• D.Enter the payment terms at the supplier site level so they default onto the invoice.
• E.Manually override the payment terms that have defaulted from the purchase order for those suppliers.

A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?

• A.Manage Invoice Options and Manage common options for Payables and Procurement
• B.Manage Payable Options and Manage Invoice Options
• C.Manage common options for Payables and Procurement and Manage Procurement agents
• D.Manage Payment Options and Manage common options for Payables and Procurement
• E.Manage Invoice Options and Manage Procurement agents

During your business trip to the UK, you took a taxi ride and paid for it by using your personal Visa credit card. While entering your expenses, you get a warning that a different conversion rate was applied to the taxi expense by Visa that the one used by your company.
How do you handle this situation?

• A.Use the corporate-defined conversion rate even if it means you will not be reimbursed fully.
• B.Do not enter the taxi expense and call your Finance Department so that they can make changes in the conversion rate settings and you do not violate the allowable limit.
• C.Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then, wait to get a revised statement.
• D.Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a different conversion rate.

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

• A.All related withholding tax invoices are automatically voided.
• 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.Any previous accounting and payment records for an invoice are reversed.

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

• A.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.
• B.You must run the prepare Intercompany Reconciliation Reporting Information process.
• C.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.
• D.You can drill down on the links in the Period Summary report to view the balances by Intercompany Organization.
• E.The reports will show the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.