Oracle Oracle Certifications 1Z0-1056-21 Questions & Answers

• Question 61:

  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. Create a new reference data set for account addresses and assign it to the business units.

  B. Assign a COMMON reference data set to the business units, which share the account addresses.

  C. Assign an enterprise reference data set to the business units, which share the account addresses.

  D. Create a separate reference data set for each business unit and assign it to each unit.

  Correct Answer: B

• Question 62:

  Your customer wants to override the calculated tax line amount for their receivable transaction. What steps should the customer perform to ensure that only one of their employees has this privilege?

  A. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable invoice event and grant the employee the "Tax Manager " data role.

  B. Enable the "Allow tax rate override" and "Allow manual tax lines" profiles at the user level, set, the value to Yes for the selected employee, and grant the "Tax Manager " data role to the employee.

  C. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable invoice event and set the "Transaction Tax Line Override" profile option to Yes for the selected employee.

  D. Set the "Transaction Tax Line Override" profile option to Yes for the selected employee and assign the employee the "Tax Manager " data role.

  E. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable application and create a tax rule to grant this privilege only to the selected employee.

  Correct Answer: D

• Question 63:

  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. Receipt Method

  B. AutoMatch Rule

  C. Customer

  D. System Options

  Correct Answer: CD

• Question 64:

  Your client's legacy system uses a hierarchical parent/child relationship to organize customer information because a single customer may have more than one bank account or payment method. Does this prevent you from using the Oracle Fusion Trading Community Model Data Import program?

  A. The program allows the use of parent, child, and grandchild table hierarchies, but it requires multiple Customer Master records for each customer within the hierarchy.

  B. The program allows table hierarchies for customer bank accounts, but not for other customer information.

  C. No; the program contains parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.

  D. Yes; the program specifically prohibits parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.

  E. The use of parent, child, and grandchild table hierarchies is allowed only in Accounts Payable, not Accounts Receivable.

  Correct Answer: D

• Question 65:

  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 have a Bill Type of Imported

  D. transactions that were included in a previous Balance Forward Bill

  Correct Answer: B

• Question 66:

  Your customer wants to retrieve values for the Line of Business segment based on Customer Class for the

  Revenue account.

  Which option would you use to achieve this with the help of the Subledger Accounting solution?

  A. Mapping Set

  B. Supporting References

  C. Transaction References

  D. Description Rule

  Correct Answer: B

• Question 67:

  After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the Transactions

  window.

  What are three results of this action? (Choose three.)

  A. Payment schedules are created using the payment terms specified.

  B. The invoice is sent for a dunning follow-up.

  C. The invoice can now be printed.

  D. The invoice is eligible for transfer to the General Ledger.

  E. The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.

  Correct Answer: ABC

• Question 68:

  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 purchasing item

  C. a credit memo line

  D. an inventory item

  E. a debit memo line

  Correct Answer: AD

• Question 69:

  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. The payable options and the receivable system options should have the same tax application options.

  C. Tax for intercompany is loaded by using Create Taxable Transactions in Spreadsheet.

  D. First enter a payable transaction to calculate tax and then enter the receivable transaction.

  E. Ensure if any tax-specific rules that are defined should cover both the sales_transaction and purchase_transaction business category.

  F. Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.

  Correct Answer: BF

• Question 70:

  How can a Collector assigned to a Customer modify a strategy that is assigned from the Collections Dashboard?

  A. A strategy is automatically assigned based on Scoring and cannot be manually assigned to a Customer by a Collector.

  B. Only a Collections Administrator can modify the strategy.

  C. The Collector can modify the strategy from the Profile > Strategies tab.

  D. The strategy can be modified from the Manage Customers page.

  Correct Answer: A