1Z0-1056-20 Training & Certification Get Latest Oracle Financials Cloud Updated on Sep 07, 2021
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NEW QUESTION 36
You need to make decisions about how an application should behave, such as date ranges and defaults.
What should you consider before defining Collections Preferences?
- A. the employees who are involved with the collections process and how the collectors will be assigned
- B. system privileges
- C. customer contact information
- D. scheduled processes
- E. user application privileges
Answer: A
NEW QUESTION 37
Which method is used to allocate total transaction price across performance obligations in Revenue Management?
- A. Inverted Allocation Method
- B. Residual Allocation Method
- C. Relative Allocation Method
- D. Two Step Allocation Method
- E. Alternative Allocation Method
Answer: D
NEW QUESTION 38
Identify the dunning letter template set provided by an application.
- A. Soft, Regular, Hard
- B. Regular, Final Demand, Medium
- C. Regular, Medium, Hard
- D. Final Demand, Soft, Medium
Answer: D
NEW QUESTION 39
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 40
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 can include or exclude intercompany transactions, or you can reconcile by intercompany activity only.
- B. You can select only a Closed accounting period.
- C. You cannot exclude on-account activities, unapplied receipts, and unidentified receipts.
- D. You can exclude unidentified receipts, but you cannot exclude on-account activities and unapplied receipts.
Answer: A
NEW QUESTION 41
What is the order used to group transaction lines during the AutoInvoice Import process?
- A. Transaction Source, Customer Account Profile, Customer Site Profile, system options
- B. System options, Customer Site Profile, Transaction Source, Customer Account Profile
- C. Transaction Source, Customer Account Profile, system options, Customer Site Profile
- D. Transaction Source, Customer Site Profile, Customer Account Profile, system options
Answer: D
NEW QUESTION 42
Your customer has three business units. The customer wants to share customer account addresses across these business units.
Which reference data set can be used to achieve this?
- A. Assign an enterprise reference data set to the business units, which share the account addresses.
- B. Create a separate reference data set for each business unit and assign it to each unit.
- C. Assign a COMMON reference data set to the business units, which share the account addresses.
- D. Create a new reference data set for account addresses and assign it to the business units.
Answer: C
NEW QUESTION 43
Which two statements are true about processing Receivables adjustments that impact tax amounts?
- A. Receivables can look at System Options and retrieve the tax rate code.
- B. There is no need to retrieve the tax rate code.
- C. Receivables can look at the adjustment activity and retrieve the tax rate code.
- D. Receivables can look at invoice and retrieve the tax rate code.
Answer: A,D
NEW QUESTION 44
Identify the receivables system option that relates to customers.
- A. Default Country
- B. Reciprocal Customer
- C. Receipt Method
- D. Automatic Site Numbering
Answer: A,C
NEW QUESTION 45
Which three benefits do intercompany reconciliation reports provide to an accountant?
- A. Displaying clearing company balancing lines.
- B. Displaying intercompany receivables and payables balancing lines.
- C. Comparing receivables and payables account balances and identifying discrepancies.
- D. Identifying transaction portions (either receiver or provider side) that have not posted to General Ledger.
Answer: B,C,D
NEW QUESTION 46
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. Run the predefined Transaction Details Report.
- B. Search in the Payables "Manage Payments" page, then export results to Excel.
- C. Create an Oracle Transactional Business Intelligence (OTBI) analysis.
- D. Search in the Receivables "Manage Credit Memo Applications" page, then export results to Excel.
Answer: C
NEW QUESTION 47
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 Accounting Method
- B. an inactive Journal Entry Rule Set
- C. an inactive Journal Line Type
- D. an inactive Mapping Set
Answer: D
NEW QUESTION 48
You have created payment terms in a system and associated them in the USA reference data set. All the payment terms in the system are shown as follows. Business Unit X has a set assignment of Enterprise Set for payment terms.
Payment Term = Net 30; Reference Data Set = Enterprise Set
Payment Term = Net 45; Reference Data Set = Enterprise Set
Payment Term = 1%/10 Net 30; Reference Data Set = USA Set
Payment Term = Net 45; Reference Data Set = USA Set
If an invoice is created in Business Unit X, which payment term set is available for use in a transaction?
- A. Net 45 (Enterprise Set), Net 45 (USA Set)
- B. Net 30 (Enterprise Set), Net 45 (Enterprise Set)
- C. 1%/10 Net 30 (USA Set), Net 45 (USA Set)
- D. Net 30 (Enterprise Set), Net 45 (USA Set)
Answer: B
NEW QUESTION 49
Which two statements are true regarding the Promise to Pay feature in the Collections application?
- A. You can cancel a promise made in error if it is before the promise due date.
- B. You cannot cancel a promise made in error if it is before the promise due date.
- C. Mass promise to pay amounts automatically become partial payments.
- D. Promise information is updated by scheduling the Promise Reconciliation process.
Answer: C
NEW QUESTION 50
You are explaining the benefits of using Bill Management as a self-service electronic bill presentment solution to an existing customer.
Which feature is not supported in Bill Management?
- A. Making payments by using a credit card or the bank account
- B. Managing disputes
- C. Managing unapplied payments
- D. Managing credit memos
- E. Reviewing customer account balances
Answer: A
NEW QUESTION 51
What are the three setup steps required to implement the Lockbox feature? (Choose three.)
- A. Receipt Classes and Receipt Methods
- B. late charges
- C. Receipt Sources
- D. Lockbox and Lockbox Transmission Formats
- E. credit card refunds
Answer: A,C,D
NEW QUESTION 52
Which three receipts can be automatically applied by a system? (Choose three.)
- A. receipts created in a spreadsheet and uploaded
- B. receipts created in a lockbox and uploaded
- C. miscellaneous receipts
- D. receipts that are manually created
- E. receipts that are unapplied
Answer: B,C,D
NEW QUESTION 53
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 Real Time Report by using Oracle Transactional Business Intelligence (OTBI).
- B. Create a Business Intelligence Publisher Report because you cannot create an OTBI Report for refunds.
- C. Query each customer refund and verify the Refund Status.
- D. Create an Oracle Business Intelligence Applications (OBIA) Report.
Answer: A
NEW QUESTION 54
Which two statements are true when you are using the Intercompany Reconciliation Process? (Choose two.)
- A. The Clearing Company Balancing Lines appear in the Intercompany Reconciliation Summary Report.
- B. You need to submit the Extract Intercompany Reconciliation Data job.
- 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 Transaction Summary Report shows only transactions with a status of received.
- E. The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
Answer: C,E
NEW QUESTION 55
There are a few customers that you do not want to send dunning letters to.
How would you exclude these customers from dunning?
- A. Disable Send Dunning Letter on the Correspondence tab.
- B. Disable Send Dunning Letter in Transaction Type.
- C. Disable Send Dunning Letter on the Profile tab.
- D. Disable Send Dunning Letter in Collections Preferences.
- E. Disable Send Dunning Letter in Transaction Source Type.
Answer: C
NEW QUESTION 56
What validation step is required for implementing dispute processing?
- A. The Recognize Revenue Program is scheduled.
- B. Periods for which the transaction can be disputed are Open.
- C. BPM Work List for approval configuration is validated.
- D. All transactions are of the invoice type.
Answer: C
NEW QUESTION 57
As a Billing Manager you are responsible for reviewing adjustments and approving them. Which action is not available in the "Approve Adjustments" page?
- A. Reject
- B. Request Information
- C. Edit
- D. Reassign
- E. Approve
Answer: D
NEW QUESTION 58
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