Oracle 1z0-1056-22 Practice Exam - 156 Unique Questions
Latest Questions 1z0-1056-22 Guide to Prepare Free Practice Tests
NEW QUESTION 49
You created a bills receivable that is factored with recourse and applied a wrong receipt to the short-term debt before the bill maturity date plus the risk elimination days.
Which actions are true? (Choose two.)
- A. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Hold.
- B. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.
- C. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Protested.
- D. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Unpaid.
- E. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Pending Remittance.
Answer: B,E
Explanation:
For bills receivable factored with recourse, receipts are applied to short term debt before the bill maturity date plus risk elimination days. For receipts applied to short term debt, use the Recall action to recall the bill receivable and reverse these receipt applications.
NEW QUESTION 50
Which information does the collector see after clicking on the Activities Infotile in the Collections Work Area?
- A. Summary of aged transactions.
- B. List of broken payment promises.
- C. Tasks assigned to the collector such as follow-up calls.
- D. List of delinquent customers.
Answer: C
NEW QUESTION 51
What is the impact on transactions of changing the billing cycle for a customer or group of customers?
- A. The billing cycle does not have any impact on new transactions.
- B. New transactions after this change inherit the new billing cycle.
- C. Existing transactions with activity adapt the new billing cycle.
- D. Existing transactions with no activity retain the old billing cycle.
Answer: B
NEW QUESTION 52
A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the remaining balance on open invoices, but some of the amounts have exceeded the Billing Specialist's approval limits.
What would be the result?
- A. The program creates the adjustments with a status of Pending Approval for the amount that exceeds the Billing Specialist's approval limits.
- B. The program creates the adjustments only for the amounts within the Billing Specialist's approval limits.
- C. The program creates the adjustments with a status of Rejected for the amount that exceeds the Billing Specialist's approval limits.
- D. The program can be run only if the amount is within the Billing Specialist's approval limits.
Answer: A
Explanation:
Reference: https://docs.oracle.com/cd/A60725_05/html/comnls/us/ar/adjust.htm#n_adj
NEW QUESTION 53
Your client processes many customer refunds on a regular basis and would like to have information about recent refunds (including their status) for analytical purposes.
What should you do to meet this requirement in an efficient manner?
- A. Search in the Payables "Manage Payments" page, then export results to Excel.
- B. Create an Oracle Transactional Business Intelligence (OTBI) analysis.
- C. Search in the Receivables "Manage Credit Memo Applications" page, then export results to Excel.
- D. Run the predefined Transaction Details Report.
Answer: B
NEW QUESTION 54
You are trying to migrate the Subledger Accounting setup by using the Export and Import functionality in the Setup and Maintenance work are a. The import process, however, returns errors. Identify two reasons for the import failure.
- A. an inactive Journal Line Type
- B. an inactive Mapping Set
- C. an inactive Accounting Method
- D. an inactive Journal Entry Rule Set
Answer: B
NEW QUESTION 55
A Cloud customer has decided to use Custom data points loaded by using REST API for Credit Management setup.
After creating Custom data point definitions, which three data point values need to be provided to successfully create a new value? (Choose three.)
- A. Data Point Description
- B. Data Point ID
- C. Account Number or Party Number
- D. Currency code
- E. Data Point Lookup
Answer: B,C,D
NEW QUESTION 56
If a receipt cannot be automatically matched or transaction information is not available, Receivables can use the AutoCash rule set.
In which three places is the rule set found? (Choose three.)
- A. Receipt Method
- B. Customer Site
- C. Receipt Class
- D. Customer Account
- E. System Options
Answer: A,B,D
Explanation:
If transactions cannot be matched or transaction information is not available, Receivables uses the AutoCash rule set defined for the customer profile either at the customer site or customer level to apply the receipt. If the customer does not have an AutoCash rule set assigned to a profile, Receivables uses the AutoCash rule set assigned to system options and the number of discount grace days defined in the customer site or customer profile to apply the receipt.
NEW QUESTION 57
Which three Collection Preferences can be selected as the default transaction class for the Transaction tab? (Choose three.)
- A. Debit Memo
- B. Credit Memo
- C. Guarantee
- D. Charge Back
- E. Deposit
Answer: A,C,E
NEW QUESTION 58
Which two are Late Charge Calculation Methods?
- A. Overdue Invoices Only
- B. Adjustment
- C. Late Payments Only
- D. Credit Items and Disputed Transactions
Answer: A,C
Explanation:
https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_9F953CFFF569FA73E040D30A688151DC
NEW QUESTION 59
Your customer has three sites defined in the system, site 1, site 2, and site 3. All sites have their own billing strategy defined and Balance Forward Billing is enabled for site 1 and Site 2 at the account level.
How will bills be generated?
- A. Sites 1, 2, and 3 activities will be included in a single bill.
- B. Sites 1 and 2 activities will be included in a single bill.
- C. Sites 1 and 3 activities will be included in a single bill.
- D. Sites 2 and 3 activities will be included in a single bill.
Answer: B
NEW QUESTION 60
What do you need to total in order to find the total transaction price for a customer contract that is calculated by Revenue Management?
- A. the selling price for all performance obligations in the customer contract
- B. the extended SSP amounts for all performance obligations in the customer contract
- C. the billing amount for all performance obligations in the customer contract
- D. the allocated amount for all performance obligations in the customer contract
- E. the SSP amounts for all performance obligations in the customer contract
Answer: C
NEW QUESTION 61
What are the three seeded contract configuration rules that Revenue Management provides to automatically create contracts? (Choose three.)
- A. by Customer and time frame
- B. by Quote Number and time frame
- C. by Source Document Line andtime frame
- D. by Source Document and time frame
- E. by Item and time frame
Answer: C,D,E
NEW QUESTION 62
Your client performs many customer refunds and would like to search for real-time Receivables Refunds Status easily.
What should you do to meet this requirement?
- A. Create a Business Intelligence Publisher Report because you cannot create an OTBI Report for refunds.
- B. Query each customer refund and verify the Refund Status.
- C. Create a Real Time Report by using Oracle Transactional Business Intelligence (OTBI).
- D. Create an Oracle Business Intelligence Applications (OBIA) Report.
Answer: C
NEW QUESTION 63
When discussing the Receivables to Ledger Reconciliation Report with your customer, you are asked a number of questions about how to run the report.
Which statement is true?
- A. You cannot exclude on-account activities, unapplied receipts, and unidentified receipts.
- B. You can exclude unidentified receipts, but you cannot exclude on-account activities and unapplied receipts.
- C. You can select only a Closed accounting period.
- D. You can include or exclude intercompany transactions, or you can reconcile by intercompany activity only.
Answer: D
NEW QUESTION 64
Which two setups are required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices? (Choose two.)
- A. Intercompany system options enable use of the same tax rate code for the payable and receivable invoices.
- B. Ensure if any tax-specific rules that are defined should cover both the sales_transaction and purchase_transaction business category.
- C. Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.
- D. The payable options and the receivable system options should have the same tax application options.
- E. Tax for intercompany is loaded by using Create Taxable Transactions in Spreadsheet.
- F. First enter a payable transaction to calculate tax and then enter the receivable transaction.
Answer: C,D
NEW QUESTION 65
Which two statements are true when you are using the Intercompany Reconciliation Process? (Choose two.)
- A. The Transaction Summary Report shows only transactions with a status of received.
- B. The Clearing Company Balancing Lines appear in the Intercompany Reconciliation Summary Report.
- C. The ledger balancing lines are 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. The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
- E. You need to submit the Extract Intercompany Reconciliation Data job.
Answer: C,D
NEW QUESTION 66
Identify two late charge interest calculation methods. (Choose two.)
- A. Average Daily Balance
- B. Previous Balance
- C. Overdue Transactions only
- D. Adjusted Balance
Answer: A,C
NEW QUESTION 67
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