2024 Realistic 1z0-1056-22 Dumps Questions To Gain Brilliant Result
Start your 1z0-1056-22 Exam Questions Preparation with Updated 156 Questions
NEW QUESTION # 57
What are the three setup steps required to implement the Lockbox feature? (Choose three.)
- A. credit card refunds
- B. late charges
- C. Lockbox and Lockbox Transmission Formats
- D. Receipt Sources
- E. Receipt Classes and Receipt Methods
Answer: C,D,E
NEW QUESTION # 58
If a customer has more than one transaction with the same number within a Lockbox transmission, then in which two receipt statuses are the receipts left? (Choose two.)
- A. Applied, if the Customer Account Number or MICR number is provided
- B. On-account, if the Customer Account Number or MICR is provided and there are no matching recommendations
- C. Unapplied, if the Customer Account Number or MICR number is provided
- D. Unidentified, if the Customer Account Number or MICR is not provided and there are no successful matching recommendations
Answer: C,D
NEW QUESTION # 59
Your company wants to generate Intercompany transactions only if the amount Involved is equal to or greater than $3,000 USD.
How should you configure Intercompany System Option*; to meet this requirement?
- A. Set "Minimum Invoice Amount" to 3,000 and "Invoice Currency" to USD in Payables Invoice Options and Receivables System Options.
- B. Set "Minimum Transaction Amount" to 2,999.99 and "Minimum Entered Currency" to ALL
- C. Define intercompany approval rule, to automatically reject intercompany transactions that do not meet the minimum amount requirement.
- D. Set "Minimum Transaction Amount" to 3,000 and "Minimum entered Currency" to USD.
Answer: A
NEW QUESTION # 60
A Billing Specialist has created and completed an invoice for $100 USD for Customer A.
The Specialist prints the invoice and realizes that the invoice should have been created for Customer B.
The accounting for the transaction for Customer A is posted to the General Ledger.
How can this be corrected?
- A. Create an on-account credit memo for $100 USD for the invoice and enter a new invoice for Customer B.
- B. Create an adjustment for the entire amount and create a negative adjustment for Customer B.
- C. Navigate to the credit transaction link in the Billing work area, credit the entire amount, and enter a new invoice for Customer B.
- D. Change the status of the invoice to Incomplete and enter a new invoice for Customer B.
Answer: A
NEW QUESTION # 61
You are defining a new receipt class to process manual customer payments and plan to use reconciliation accounting in Cash Management.
Which two clearance methods enable you to match and clear transactions in Cash Management? (Choose two.)
- A. by Conformation
- B. by matching
- C. by factoring
- D. by Automatic Clearing
- E. Directly
Answer: B,D
NEW QUESTION # 62
What information does the Collector see in the Activities List area of the Collections Dashboard?
- A. customer's profile for each assigned customer
- B. status of processing activities from the Process Monitor
- C. tasks assigned to the Collector, such as follow-up calls
- D. customer search as per the parameter specified
- E. summary of aged transactions
Answer: C
NEW QUESTION # 63
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. If you have printed a transaction, the View Print button will not display a preview of the print.
- B. 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.
- C. Both the transaction, or each transaction in a balance forward bill, will be marked as printed in the system.
- D. It is not recommended to print transactions and balance forward bills directly from BI Publisher.
- E. 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.
Answer: B,C,E
NEW QUESTION # 64
A client rents equipment for special events. They have the following invoicing requirements: invoice must De entered and be due either immediately, or 20 or 10 days before the event. The Deferred Event Revenue Account for Rentals is to be credited at the time of invoice booking. After the events occur, the client wants all lines to debit the Deferred Event Revenue Account and credit the Event Revenue.
How can you meet this requirement?
- A. Create a Revenue Contingency with Revenue Policy as Credit, Contingency Primary Removal Event as Milestone Billing, and Optional Removal Event as Fulfillment Date.
- B. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Invoicing, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.
- C. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Contingency Expiration, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.
- D. Create a Revenue Contingency with Revenue Policy as None and Contingency Primary Removal Event as Payment.
Answer: D
NEW QUESTION # 65
If AutoAccounting is set to derive accounting segments based on a standard line, the transaction line must be either ________________ or ________________. Otherwise, AutoAccounting cannot derive a valid account code combination for revenue recognition.
Identify the two values. (Choose two.)
- A. a standard memo line
- B. a credit memo line
- C. a debit memo line
- D. an inventory item
- E. a purchasing item
Answer: A,D
NEW QUESTION # 66
You have been asked to assign a reference data set to a specific Business Unit for several Receivable setups.
What are the navigational steps needed to accomplish this task?
- A. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Organization Structures"/Task: "Manage Business Unit Set Assignment"
- B. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Legal Structures"/Task: "Manage Business Unit Set Assignment"
- C. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Financial Reporting Structures"/Task: "Manage Business Unit Set Assignment"
- D. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Receivables"/Task: "Manage Business Unit Set Assignment"
Answer: D
NEW QUESTION # 67
What is required to register an external user to Bill Management?
- A. a customer account contact with a valid email address
- B. a customer account contact with a valid mailing address
- C. a customer account contact with a valid mobile number
- D. a customer account contact with the responsibility types bill to and ship-to
Answer: D
NEW QUESTION # 68
Which statement is true when you create an Implementation Project for Oracle Financials Cloud?
- A. You need to make only the project name unique, and then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management, and Supply Chain Management.
- B. You must plan your Implementation Project carefully because you cannot delete it or make changes later.
- C. You must select the offering "Financials" and each individual product or option to perform the setup for each product in Oracle Financials Cloud.
- D. The Implementation Project is preconfigured and cannot be deleted or changed.
- E. When you select the offering "Financials," it automatically allows you to perform the setup for all Oracle Financials Cloud products.
Answer: A
NEW QUESTION # 69
What validation step is required for implementing dispute processing?
- A. The Recognize Revenue Program is scheduled.
- B. BPM Work List for approval configuration is validated.
- C. All transactions are of the invoice type.
- D. Periods for which the transaction can be disputed are Open.
Answer: B
NEW QUESTION # 70
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 Lookup
- B. Data Point Description
- C. Data Point ID
- D. Account Number or Party Number
- E. Currency code
Answer: C,D,E
NEW QUESTION # 71
A Billing Specialist creates an adjustment for an incorrect invoice that exceeds a user's approval limit.
What is the status of the adjustment?
- A. Pending Approval
- B. Forwarded for Approval
- C. Approval Required
- D. Pending Research
Answer: A
NEW QUESTION # 72
Your customer has a state tax of 20% and a city tax of 10% as non-inclusive tax rates that are applicable on a transaction line. Your invoice has two lines: Line1 with $600 USD and Line2 with $400 USD.
What will be the resulting tax and invoice amounts for your tax invoice?
- A. state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD.
- B. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.
- C. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,257.78 USD.
- D. state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.
- E. state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 USD.
Answer: D
NEW QUESTION # 73
What are the three drilldown options available in the task pane for Receipt Remittance? (Choose three.)
- A. Correct Funds Transfer Errors
- B. Lockbox Transmission History
- C. Create Automatic Receipts
- D. Manage Receipt Remittance Batches
- E. Create Receipt Remittance Batch
Answer: C,D,E
NEW QUESTION # 74
When reversing a receipt, if an adjustment or chargeback exists, how are the off-setting adjustments created?
- A. automatically by using the Adjustment Reversal and Chargeback Reversal activities
- B. manually by using Chargeback Reversal activities
- C. manually, but without using the Adjustment Reversal and Chargeback Reversal activities
- D. automatically, but without using the Adjustment Reversal and Chargeback Reversal activities
- E. manually by using Adjustment Reversal activities
Answer: A
Explanation:
When you reverse a receipt, if an adjustment or chargeback exists, Receivables automatically generates off-setting adjustments using the Adjustment Reversal and Chargeback Reversal activities.
NEW QUESTION # 75
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 select only a Closed accounting period.
- B. You cannot exclude on-account activities, unapplied receipts, and unidentified receipts.
- C. You can include or exclude intercompany transactions, or you can reconcile by intercompany activity only.
- D. You can exclude unidentified receipts, but you cannot exclude on-account activities and unapplied receipts.
Answer: C
NEW QUESTION # 76
Which information does the collector see after clicking on the Activities Infotile in the Collections Work Area?
- A. List of delinquent customers.
- B. Summary of aged transactions.
- C. Tasks assigned to the collector such as follow-up calls.
- D. List of broken payment promises.
Answer: C
NEW QUESTION # 77
In which two ways would you configure Satisfaction Method (SM) and Satisfaction Measurement Model (SMM) in Revenue Management to recognize revenue for performance obligations over time? (Choose two.)
- A. by setting SM to "Requires Complete" and SMM to "Percent"
- B. by setting SM to "Requires Complete" and SMM to "Quantity"
- C. by setting SM to "Allow Partial" and SMM to "Period"
- D. by setting SM to "Allow Partial" and SMM to "Percent"
- E. by setting SM to "Requires Complete" and SMM to "Period"
Answer: A,C
NEW QUESTION # 78
If the Contract Identification Rules that you defined for your customer did not group the source data into customer contracts as expected, how would you resolve the issue?
- A. Run the Discard Customer Contracts program for the relevant contracts and run the Identify Customer contracts program again.
- B. Delete Contracts from the Manage Customer Contracts UI.
- C. Delete the performance obligations from the relevant contracts through the Manage Customer Contracts UI.
- D. Delete the source data that was imported into Revenue Management and import new source data.
- E. Run the Discard Customer Contracts program for the relevant contracts, define a new, higher-priority Contract Identification Rule, and run the Identify Customer Contracts program again.
Answer: E
NEW QUESTION # 79
You have created a sales invoice for $900 USD with an item line of $750 USD and a tax rate of 20%. The customer has made a payment of $500 USD and you are required to process the cash application to apply the $500 USD to the item line and $0 USD to tax.
How would you achieve this?
- A. Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.
- B. Set the credit classification revenue recognition policy to look for Line First and Tax Later.
- C. Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.
- D. Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the receipt method.
- E. Set the payment terms revenue recognition policy to look for Line First and Tax Later.
Answer: C
NEW QUESTION # 80
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