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

• Question 121:

  Which is NOT a valid Infotile in the Accounts Receivables Work Area?

  A. Unidentified Receipts

  B. Lockbox Exceptions

  C. Receipt Batches

  D. Unapplied Receipts

  E. Unapplied Credits

  Correct Answer: A

• Question 122:

  You are utilizing the "Upload Customer From Spreadsheet" option. What information on the Customer Worksheet must be unique for each customer record?

  A. Customer Number, CustomerAccount Number, Customer Site Number

  B. Customer Name, Customer Billing Address, Customer Bank Account

  C. Customer Name, Customer Account Number, Customer Site Number

  D. Customer Number, Customer Billing Address, Customer Bank Account

  Correct Answer: A

• Question 123:

  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. Onlya 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

• Question 124:

  If a receipt cannot be automatically matched or transaction information is not available, Receivables can use theAutoCash rule set.

  In which three places is the rule set found? (Choose three.)

  A. System Options

  B. Receipt Class

  C. Customer Site

  D. Receipt Method

  E. Customer Account

  Correct Answer: CDE

  If transactions cannot be matched or transaction information is notavailable, 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 AutoCashrule set assigned to system options and the number of discount grace days defined in the customer site or customer profile to apply the receipt.

• Question 125:

  Upon approval of a remittance batch of type "Factored withRecourse," the Receivables application creates a receipt and establishes risk.

  How does Receivables establish risk?

  A. by generating a bills receivables adjustment

  B. by creating an on-account credit memo

  C. by recording an entry to the Remitted Bills Receivable account

  D. by recording short-term debt

  Correct Answer: A

  Reference: https://docs.oracle.com/en/cloud/saas/financials/21b/fairp/implementing-receivables-credit-to-cash.pdf (261)

• Question 126:

  One of the customers pays its bills electronically from their bank account (Direct debit).

  Which process do you need to run in Receivables to initiate the transfer of funds from their bank account to yourorganization's bank account?

  A. Clear Receipts Automatically Process

  B. Remittance Process

  C. Automatic Receipt Process

  D. Lockbox Process

  Correct Answer: B

• Question 127:

  Which two items are required for customer invoicing? (Choose two.)

  A. Lockbox

  B. Customers

  C. Remit-to-address

  D. Customer Profile Class

  Correct Answer: AD

• Question 128:

  When discussing the Receivables to Ledger Reconciliation Report with your customer, you are asked a number of questions about how to runthe report.

  Which statement is true?

  A. You can exclude unidentified receipts, but you cannot exclude on-account activities and unapplied receipts.

  B. You cannot exclude on-account activities, unapplied receipts, and unidentified receipts.

  C. You caninclude or exclude intercompany transactions, or you can reconcile by intercompany activity only.

  D. You can select only a Closed accounting period.

  Correct Answer: C

• Question 129:

  When you move revenue on an invoice line from an unearned account to an earned revenue account, Receivables ______________.

  A. removes the invoice line revenue contingencies

  B. leaves the invoice line revenue contingencies until Automatic Revenue Recognition is run

  C. removes the pending sales credits

  D. leaves the invoice line revenue contingencies until Reconcile Revenue Contingencies is run

  Correct Answer: A

• Question 130:

  Which three receipts can be automatically applied by the "Apply ReceiptsUsing AutoMatch" process?

  A. Receipts that are manually created.

  B. Miscellaneous receipts.

  C. Receipts created from a lockbox and uploaded.

  D. Receipts created in a spreadsheet and uploaded.

  E. Receipts with unapplied amounts.

  Correct Answer: ACD