Get an edge on your Oracle Financials Cloud: Payables 2021 Implementation Essentials journey with premium 1Z0-1055-21 practice tests from Actual4Labs. We offer 142 questions with comprehensive updates throughout 2026, giving you the exact preparation you need.

Oracle 1Z0-1055-21 Exam Overview:

Oracle 1Z0-1055-21 Exam Syllabus Topics:

Frequently Asked Questions About Oracle Financials Cloud: Payables 2021 Implementation Essentials

Oracle Financials Cloud: Payables 2021 Implementation Essentials Sample Questions:

Question 1

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

Question 2

Your company wants to generate intercompany transactions in USD but only if the amount involved is $3,000 USD or more. Which two intercompany system options are valid?

A. Approval rules need to set the allow of the intercompany transactions to be routed to the receiver or provider.
B. You cannot update the minimum transaction currency when intercompany currency is entered.
C. Set the intercompany system option minimum transaction amount to $2,999.99 USD.
D. Set the intercompany system option minimum transaction amount to $ 3,000 USD.
E. Intercompany invoices will be generated for the minimum accountable amount set at the payable invoice options and receivable system options.

Question 3

A company has a requirement to default the disbursement bank account when submitting a Payment Process Request.
Which actions will accomplish this? (Choose two.)

A. Define the Disbursement Bank Account to every supplier.
B. Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account.
C. Create a Payment Process Request template that includes the Disbursement Bank Account.
D. Assign the Disbursement Bank Account to users to have the payment process default the bank account.
E. Define the Disbursement Bank Account to the Payment Method in payment default rules.

Question 4

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?

A. Insert the syntax <?if:VENDOR_NAME= 'COMPANY A'?> before the Supplier field on the template.
Then, enter the <?end if?> tag after the invoices table.
B. Insert the syntax <?if:'COMPANY A'?> before the Supplier field and then enter the closing tag
</<?if:COMPANY A?> after the invoices table.
C. Insert the syntax <?if:condition?> before the Supplier field and then enter the closing tag
</<?if:condition?>.
D. Hard code Supplier Name "Company A" in the report template and only invoices for that supplier will be displayed.

Question 5

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

A. The invoice was adjusted by a credit or a debit memo.
B. An accounting entry has been created for the invoice.
C. The invoice is validated.
D. Prepayments were applied to the invoice.
E. The invoice is fully or partially paid.

Solutions: