Oracle Financials Cloud Certified Official Practice Test 1z0-1056-22 - Mar-2023
Ace Oracle 1z0-1056-22 Certification with Actual Questions Mar 20, 2023 Updated
NEW QUESTION 31
Identify two credit memo options. (Choose two.)
- A. Paid amount only
- B. Invoice lines
- C. Advance
- D. Paid freight
- E. Tax only
Answer: B,E
NEW QUESTION 32
What are the two locations where the system can look for Receipt Match By Value when Receivables applies customer payments automatically for manually created receipts? (Choose two.)
- A. System Options
- B. AutoMatch Rule
- C. Customer
- D. Receipt Method
Answer: A,C
NEW QUESTION 33
Which transactions are included when transactions of specified customers are selected in the Create Balance Forward Billing Program?
- A. transactions that have the Print Option set to Do Not Print
- B. transactions that have the selected payment terms
- C. transactions that were included in a previous Balance Forward Bill
- D. transactions have a Bill Type of Imported
Answer: B
NEW QUESTION 34
You are creating a remittance bank account for the factored with recourse bills receivable remittance receipt method.
Which bank account setup controls receipt application to short-term debt?
- A. recall days
- B. short-term debt clearing days
- C. clearing days
- D. collection days
- E. risk elimination days
- F. lead days
Answer: B
NEW QUESTION 35
Which two statements are true about Accounting for Tax on Receivables? (Choose two.)
- A. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables derive the tax account from auto-accounting.
- B. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account of the tax code.
- C. For Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to No, Receivables derive the tax account from auto-accounting.
- D. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account that is defined on the receivable activity.
- E. For Miscellaneous receipts, if the receivable activity tax rate code source is Activity for the activity type of Miscellaneous Cash, Receivables use the tax account that is defined on the receivable activity.
- F. For Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to Yes, Receivables derive the item distribution from the invoice and the tax account from auto-accounting.
Answer: D,F
NEW QUESTION 36
Which minimum Customer setup is required to create a receivables transaction?
- A. one customer account and one customer site with a ship-to site business purpose
- B. one customer account without any customer site
- C. one customer account and one customer site with a bill-to site business purpose
- D. one customer account with two sites: one with a bill-to business purpose and the other with a ship-to business purpose
Answer: C
NEW QUESTION 37
When a customer opts to make a payment by a credit card, this receipt is identified as a(n) _______________.
- A. AutoLockbox receipt
- B. miscellaneous receipt
- C. manual receipt
- D. automatic receipt
- E. quick cash receipt
Answer: D
NEW QUESTION 38
Which three Infotiles can be seen in the Accounts Receivables work area? (Choose three.)
- A. Receipt Batches
- B. Unapplied Credits
- C. Unapplied Receipts
- D. Unidentified Receipts
- E. Activities
Answer: A,B,C
NEW QUESTION 39
When deciding how to set up the system to recognize revenue, it is important to understand the extent of revenue deferral and the subsequent timing of revenue recognition.
Which two statements are true when you consider that recognition depends on the nature of the contingency? (Choose two.)
- A. Time-based contingencies must not expire before the contingency can be removed and revenue recognized.
- B. Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.
- C. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.
- D. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
- E. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.
Answer: D,E
NEW QUESTION 40
To determine the best approach to converting a client's data, you must know which setup is set-enabled and can be shared.
Identify three set-enabled setups in Receivables. (Choose three.)
- A. Standard Memo Lines
- B. Receivable Specialists
- C. Revenue Contingencies
- D. Collectors
- E. Revenue Types
Answer: A,C,E
NEW QUESTION 41
Which information does the collector see after clicking on the Activities Infotile in the Collections Work Area?
- A. List of broken payment promises.
- B. Summary of aged transactions.
- C. Tasks assigned to the collector such as follow-up calls.
- D. List of delinquent customers.
Answer: C
NEW QUESTION 42
A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation.
How would you configure the Performance Obligation Identification Rule to ensure correct grouping of these items?
- A. by defining an item group and assigning that to the rule
- B. by defining a grouping rule on the customer class
- C. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute
- D. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain the same value for that attribute
- E. by defining an exclusion rule to exclude customer classes that are "Retail"
Answer: C
NEW QUESTION 43
Which two items are required for customer invoicing? (Choose two.)
- A. Remit-to-address
- B. Customers
- C. Lockbox
- D. Customer Profile Class
Answer: C,D
NEW QUESTION 44
What is the impact on transactions of changing the billing cycle for a customer or group of customers?
- A. Existing transactions with activity adapt the new billing cycle.
- B. The billing cycle does not have any impact on new transactions.
- C. Existing transactions with no activity retain the old billing cycle.
- D. New transactions after this change inherit the new billing cycle.
Answer: D
NEW QUESTION 45
Company ABC wants their logo displayed in all customer invoices. How do you meet this business requirement?
- A. Modify the Invoice Print Layout Bill Presentment Template.
- B. Enable the setting "Allow Change to Printed Transactions" in Receivables System Options.
- C. Extend the "Print Receivables Transactions" program.
- D. Use Web Services to integrate with an external system that can handle this requirement.
Answer: D
NEW QUESTION 46
As a consultant, you have built the following Scoring model in Advanced Collections:
If a customer has 10 past due transactions and an amount overdue of $125, what is the calculated score?
- A. 0
- B. 1
- C. 2
- D. 3
- E. 4
Answer: A
NEW QUESTION 47
You schedule print runs of transactions and balance forward bills according to the needs of your enterprise.
Which three statements are true? (Choose three.)
- A. It is recommended that you always print directly from BI Publisher to give you more control over the templates in case you need to change them.
- B. It is not recommended to print transactions and balance forward bills directly from BI Publisher.
- C. Both the transaction, or each transaction in a balance forward bill, will be marked as printed in the system.
- D. If you have not printed a transaction, the View Print button (Preview of Print) displays the transaction according to the default template in BI Publisher.
- E. If you have printed a transaction, the View Print button will not display a preview of the print.
Answer: A,C,D
NEW QUESTION 48
When running the delinquency process for a customer, the business unit for which you want to run the process does not appear in the drop-down menu.
Identify the action that you need to take.
- A. Only business units that the user has access to will appear in the list of values. Modify the security options to provide access to the user.
- B. Business unit is not a required option on the Parameters tab to run the delinquency process.
- C. Select the check box to enter the default business unit if it does not appear in the drop-down menu.
- D. Click the Settings button to apply appropriate settings so that the business unit appears in the drop-down menu.
Answer: A
NEW QUESTION 49
Which predefined dunning letter template is available in the Collections application
- A. Soft, Regular, Medium, Hard
- B. Soft, Medium, Hard, Final
- C. Regular, Medium, Hard, Difficult
- D. Regular, Medium, Hard, Easy
Answer: B
NEW QUESTION 50
When using lockbox to process customer payments, which two tables are used in the upload? (Choose two.)
- A. AR_INTERIM_CASH_RECEIPTS_ALL
- B. AR_INTERFACE_INTERIM_LINES_ALL
- C. AR_PAYMENTS_INTERFACE_ALL
- D. RA_INTERFACE_PAYMENTS_ALL
Answer: A,C
NEW QUESTION 51
What information does the Collector see in the Activities List area of the Collections Dashboard?
- A. customer's profile for each assigned customer
- B. summary of aged transactions
- C. tasks assigned to the Collector, such as follow-up calls
- D. status of processing activities from the Process Monitor
- E. customer search as per the parameter specified
Answer: C
NEW QUESTION 52
......
Oracle 1z0-1056-22 Exam Syllabus Topics:
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
| Topic 5 |
|
| Topic 6 |
|
| Topic 7 |
|
| Topic 8 |
|
| Topic 9 |
|
Try Free and Start Using Realistic Verified 1z0-1056-22 Dumps Instantly.: https://skillmeup.examprepaway.com/Oracle/braindumps.1z0-1056-22.ete.file.html