Oracle Oracle Certifications 1Z0-1056-23 Questions & Answers

• Question 1:

  When defining the receipt method for automatic receipt processing, the business requirement is to produce the minimum number of payments. Which receipt rule should you define?

  A. One per Customer per due date

  B. One per Customer

  C. One per site per due date

  D. One per invoice

  Correct Answer: D

• Question 2:

  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 Transaction Amount" to 3,000 and "Minimum entered Currency" to USD.

  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 Invoice Amount" to 3,000 and "Invoice Currency" to USD in Payables Invoice Options and Receivables System Options.

  Correct Answer: D

• Question 3:

  Identify two late charge interest calculation methods. (Choose two.)

  A. Previous Balance

  B. Adjusted Balance

  C. Overdue Transactions only

  D. Average Daily Balance

  Correct Answer: CD

• Question 4:

  As an implementer, while importing data from the legacy/third-party system, you forgot to populate the accountingdistribution in the RA_INTERFACE_DISTRIBUTIONS_ALL table. What happens when you run accounting?

  A. It will return an error and the data will be stuck in the interface table.

  B. Neither invoice nor accounting will be created.

  C. Invoice will get created but accounting won't be created.

  D. Invoice will be created and the system will use auto accounting configuration to create accounting.

  Correct Answer: D

• Question 5:

  Identify the receivables system option that relates to customers.

  A. Reciprocal Customer

  B. Receipt Method

  C. Default Country

  D. Automatic Site Numbering

  Correct Answer: BC

• Question 6:

  Whenusing lockbox to process customer payments, which two tables are used in the upload? (Choose two.)

  A. RA_INTERFACE_PAYMENTS_ALL

  B. AR_PAYMENTS_INTERFACE_ALL

  C. AR_INTERFACE_INTERIM_LINES_ALL

  D. AR_INTERIM_CASH_RECEIPTS_ALL

  Correct Answer: BD

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faofc/process-customer-payments.html#FAOFC243475

• Question 7:

  Which reporting tool is primarily used by users to create ad hoc analysis from real-time Receivables data?

  A. Smart View

  B. Oracle Transaction Business Intelligence

  C. ADFdi Spreadsheets

  D. XML Publisher

  E. Financial Reporting Web Studio

  Correct Answer: B

  Reference: https://docs.oracle.com/cd/E51367_01/fa_lcm_gs/BIFAD/BIFAD.pdf

• Question 8:

  A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the remaining balance on openinvoices, but some of the amounts have exceeded the Billing Specialist's approval limits. What would be the result?

  A. The program creates the adjustments with a status of Pending Approval for the amount that exceeds the Billing Specialist's approval limits.

  B. The program can be run only if the amount is within the Billing Specialist's approval limits.

  C. The program creates the adjustments with a status of Rejected for the amount that exceeds the Billing Specialist's approval limits.

  D. The programcreates the adjustments only for the amounts within the Billing Specialist's approval limits.

  Correct Answer: A

  Referencehttps://docs.oracle.com/cd/A60725_05/html/comnls/us/ar/adjust.htm#n_adj

• Question 9:

  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 ofEnterprise 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. Net 30 (Enterprise Set), Net 45 (USA Set)

  D. 1%/10 Net 30 (USA Set), Net 45 (USA Set)

  Correct Answer: B

• Question 10:

  Which statement is true about Balance Forward Billing?

  A. Balance Forward Bills must be enabled at each bill-to-site level.

  B. Balance Forward Bills can be created for a future date.

  C. Transactions included on a Balance Forward Bill can be updated.

  D. The Balance Forward Bill of a previous cycle need not be generated as Final to generate the Balance Forward Bill of the current cycle.

  Correct Answer: A