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

• Question 131:

  Which configuration step is required for processing Collections disputes?

  A. Define Aging Method to be used with disputed transactions.

  B. Define Dispute Thresholds in Collections Preferences.

  C. Set "Send Dispute Notice" Option to "Yes" in Collections Preferences.

  D. Define a "Collections" Approval Group as well as a "Billing" Approval Group in the BMP Worklist.

  Correct Answer: B

• Question 132:

  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. Set the credit classification revenue recognition policy to look for Line First and Tax Later.

  B. Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.

  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.

  Correct Answer: C

• Question 133:

  A client rents equipment for special events. They havethe following invoicing requirements:

  1.

  invoice must De entered and be due either immediately, or 20 or 10 days before the event.

  2.

  The Deferred Event Revenue Account for Rentals is to be credited at the time of invoice booking.

  3.

  After the events occur, theclient 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 None, Contingency Primary Removal Event as Contingency Expiration,and Optional Removal Event as Transaction Date, with Transaction Date being the Event 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 and Contingency Primary Removal Event as Payment.

  D. Create a Revenue Contingency with Revenue Policy as Credit, Contingency Primary Removal Event as Milestone Billing, and Optional Removal Event as Fulfillment Date.

  Correct Answer: C

• Question 134:

  As a Billing Manager you are responsible for reviewing adjustments and approving them. Which action is not available in the "ApproveAdjustments" page?

  A. Approve

  B. Request Information

  C. Reassign

  D. Reject

  E. Edit

  Correct Answer: C

• Question 135:

  Which two duties are included in the Accounts Receivable Specialistassociated role? (Choose two.)

  A. Import Payables Invoices Duty

  B. Receipt Creation Duty

  C. Trading Community Hierarchy Management Duty

  D. Payment Settlement Management Duty

  Correct Answer: AD

• Question 136:

  You are reviewing an invoice on the Review Transaction page. After clicking the Sales Credit subtab, you notice the following breakdown: Revenue Allocation and Nonrevenue Allocation.

  What is a Nonrevenue Allocation?

  A. sales credits associated to deferred revenue

  B. sales credit allocation based on billing corrections

  C. sales credit reversals due to credit memo creation

  D. additional incentive-based sales credits

  Correct Answer: C

• Question 137:

  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 theOracle 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 specificallyprohibits 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 138:

  You have been asked to assign a reference data set to a specific Business Unit for several Receivable setups.

  Whatare the navigational steps needed to accomplish this task?

  A. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area:"Receivables"/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: "Organization Structures"/Task: "Manage Business Unit Set Assignment"

  Correct Answer: A

• Question 139:

  Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)

  A. drilldown to see reconciliation details and to make reconciling corrections

  B. drilldown on the difference amounts to see specific reconciling items and the potential cause of the out-of-balance condition

  C. drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity

  D. drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger

  E. drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without actually downloading to Excel

  Correct Answer: BCE

• Question 140:

  You are explaining the benefits of using Bill Management as a self-service electronic bill presentment solution to an existing customer.

  Which feature is not supported in Bill Management?

  A. Makingpayments by using a credit card or the bank account

  B. Managing unapplied payments

  C. Managing credit memos

  D. Reviewing customer account balances

  E. Managing disputes

  Correct Answer: A