Oracle Oracle Certifications 1Z0-1056-22 Questions & Answers

• Question 101:

  Which two are Late Charge Calculation Methods?

  A. Credit Items and Disputed Transactions

  B. Late Payments Only

  C. Adjustment

  D. Overdue Invoices Only

  Correct Answer: BD

  https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_9F953CFFF569FA73E040D30A688151DC

• Question 102:

  Debit Memo Reversal is a new receivable that replaces the item closed by the original receipt.

  When should the Debit Memo Reversal method be used to reverse a receipt?

  A. You are reversing a receipt that you previously applied to a chargeback and this chargeback was not accounted.

  B. You are reversing a receipt that you previously applied toa chargeback and this chargeback was posted to your general ledger.

  C. You are reversing a receipt that you previously applied to a chargeback and this chargeback has had no activity (another receipt or credit memo or adjustment) against it.

  D. You are reversing a Miscellaneous receipt.

  Correct Answer: C

  Reference: https://docs.oracle.com/cd/A60725_05/html/comnls/us/ar/recpts13.htm

• Question 103:

  What are the three seeded contract configuration rules that Revenue Management provides to automatically create contracts? (Choose three.)

  A. by Quote Number and time frame

  B. by Source Document and time frame

  C. by Item and time frame

  D. by Customer and time frame

  E. by Source Document Line andtime frame

  Correct Answer: BCE

• Question 104:

  A customer calls the Accounts Receivables department and asks for the balance of all invoices that are due in the next 30 days. The customer also has a question about a specificinvoice line.

  As a Billing Specialist, which action would you take?

  A. Search for the information in the Review Customer Account Details user interface.

  B. Apply, reverse, or process the receipt.

  C. Create an open debit memo.

  D. Search for open invoiceson the Manage Transaction search page.

  Correct Answer: A

• Question 105:

  The Multifund Accounting feature supports detailed distributions for invoices with revenue recognition rules. For a customer invoice with the distributions below:

  

  Which unearned revenue accounting entries will the feature generate?

  A. Credits of $900 and $600 for companies 01 and 02 respectively

  B. Credits of $900 and $500 for companies 01 and 02 respectively

  C. Debit of $900 and credit of $500 for companies 01 and 02 respectively

  D. Credit of $900 and debit of $500 for companies 01 and 02 respectively

  E. Debits of $900 and $500 for companies 01 and 02 respectively

  Correct Answer: C

• Question 106:

  What are the three drilldownoptions available in the task pane for Receipt Remittance? (Choose three.)

  A. Lockbox Transmission History

  B. Create Automatic Receipts

  C. Correct Funds Transfer Errors

  D. Create Receipt Remittance Batch

  E. Manage Receipt Remittance Batches

  Correct Answer: BDE

• Question 107:

  Your customer has a state tax of 20% and a citytax 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 $1,257.78 USD.

  C. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.

  D. state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 USD.

  E. state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.

  Correct Answer: E

• Question 108:

  To meet the business needs of most organizations, "Common Set" is seeded InFusionfor all set-enabled objects with the exception of _________________.

  A. AutoMatch Rule Sets

  B. AutoCash Rules

  C. Revenue Scheduling Rules

  D. Customer Site

  E. Aging Methods

  Correct Answer: D

• Question 109:

  Where is the summary delinquency data displayed In the Collections Work Area?

  A. Transactions Tab

  B. History Tab

  C. Profile Tab

  D. Aging Tab

  Correct Answer: D

• Question 110:

  A Cloud client has a requirement to process the most precise revenue recognition schedule.

  Which revenue schedule would you use to achieve this requirement?

  A. FixedRate

  B. Daily Revenue rate ?Partial Periods

  C. Variable rate

  D. Period end rate

  E. Daily Revenue Rate ?All periods

  Correct Answer: E

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faofc/manage-customer-billing.html#FAOFC81661