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

• Question 151:

  A Cloud customer requires enhanced message content in transactions delivered using email. Which three are supported in the body of the message? (Choose three.)

  A. Insert logos.

  B. Prevent use of Dynamic Tokens.

  C. Increasethe character limit to greater than 4000.

  D. Insert hyperlinks.

  E. Modify the fonts and font size.

  Correct Answer: ADE

  Reference: https://www.oracle.com/webfolder/technetwork/tutorials/tutorial/cloud/r13/wn/fin/releases/21 B/21B-financials-wn.htm#F17905

• Question 152:

  When a customer opts to make a payment by a creditcard, this receipt is identified as a(n) _______________.

  A. miscellaneous receipt

  B. quick cash receipt

  C. manual receipt

  D. automatic receipt

  E. AutoLockbox receipt

  Correct Answer: D

• Question 153:

  You are a functional user who has been tasked with creating an Oracle Transactional Business Intelligence (OTBI) analysis. You are still learning how to use OTBI, and the analysis you need to create is not complex. Which tool should you use to create this analysis?

  A. BI Answers

  B. BI Composer

  C. BI Publisher

  D. Dashboard Builder

  Correct Answer: C

• Question 154:

  A Cloud customer has decided to use Custom data points loaded by using REST API for Credit Management setup.

  After creating Custom data point definitions, which three data point values need to be provided to successfully create a new value?(Choose three.)

  A. Account Number or Party Number

  B. Currency code

  C. Data Point ID

  D. Data Point Description

  E. Data Point Lookup

  Correct Answer: ABC

  Reference: https://www.oracle.com/webfolder/technetwork/tutorials/tutorial/cloud/r13/wn/fin/releases/21B/21B-financials-wn.htm

• Question 155:

  You created a new enterprise structure in the Cloud for a single country. In the structure, there are two legal entities: a single ledger and two business units (representing two warehouses, each owned by one of the legal entities). The tax regulations are common between the legal entities.

  When assigning the tax regime to parties, what should you do to share all setup for Tax?

  A. Assign one legal entity to Global Configuration and one legal entity to Party Specific Configuration.

  B. Assign one legal entity to Global Configuration and one business unit to First Party Configuration with Party Overrides.

  C. Assign both business units to Global Configuration Owner.

  D. Assign the ledger to Global Configuration Owner.

  E. Assign two business units to First Party Configuration with Party Overrides.

  Correct Answer: D

  This is the best option to share all setup for Tax when the tax regulations are common between the legal entities. The ledger is the highest level of party hierarchy and can be assigned as the Global Configuration Owner to share the tax regime, tax rates, and tax rules across all parties under it. Verified References: [How You Assign Tax Regimes to Parties-Oracle]

• Question 156:

  While reviewing Balance Forward Bill Infertile on the Account Overview page m Bill Management, you notice that it is only displaying balance forward Mis raised in the last month. How can you increase the number of months to view past balance forward bills?

  A. Add the number of months as a value for the BILL.MANAGEMENT lookup code

  B. Use Bill Management System Options

  C. Use the threshold view of Balance Forward Bill Infotile

  D. Use Receivables System Options

  Correct Answer: B

  You can use Bill Management System Options to increase the number of months to view past balance forward bills on the Account Overview page in Bill Management. You can set the value for the Number of Months for Balance Forward Bill Infotile Profile Option. Verified References: [How You Manage Balance Forward Billing-Oracle]

• Question 157:

  Which three receipt types can be reversed in the Cloud?

  A. Receipts applied to open receipts

  B. Miscellaneous receipts

  C. Credit card chargebacks posted to GL

  D. Receipts that are archived

  E. Invoice-related receipts

  Correct Answer: BCE

  These are the three receipt types that can be reversed in the Cloud. Receipts applied to open receipts and receipts that are archived cannot be reversed. Verified References: [How You Reverse Receipts-Oracle]

• Question 158:

  After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the Transactions window. What are three results of this action?

  A. The invoice can now be printed.

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

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

  D. The payment schedules are created using the payment terms specified.

  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: ACD

  When the Billing Manager clicks the Complete button in the Transactions window, the following results occur:

  The invoice can now be printed or delivered to the customer by the preferred delivery method.

  The invoice is eligible for transfer to the General Ledger and posting to the customer account.

  The payment schedules are created using the payment terms specified on the transaction or customer profile. The other options are not correct because:

  The invoice is not sent for a dunning follow-up until it becomes overdue. The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to Yes, not No. Verified References:

  https://docs.oracle.com/en/cloud/saas/financials/23b/faofc/manage-customer-billing.html#FAOFC-GUID-9E7F8B0A-5F6E-4B6E-AF0B-9C1E5D7D2A8A

• Question 159:

  In Advanced Collections, scoring formulas are used to effectively manage your collection activities and strategies. Scoring formulas contain data points that help determine the collectability of your outstanding balances. To determine the number of days passed since the last payment was received from a customer, you can use the Age of Latest Payment data point.

  At which details?

  A. Customer

  B. Organization

  C. Site

  D. Account

  E. Site Address

  F. Party

  Correct Answer: C

  This is the level at which you can use the Age of Latest Payment data point to determine the number of days passed since the last payment was received from a customer. The Age of Latest Payment data point is calculated at the account level and shows the age of the most recent payment for each customer account. Verified References: [How You Define Scoring Components-Oracle]

• Question 160:

  Which flexfields does Autolnvoice require to identify transactions and transaction lines, if you load the interface using a customized form?

  A. Line-level transaction flexfield. Header-level transaction flexfield. and Link to transaction flexfield

  B. Line-level transaction flexfield and Header-level transaction flexfield

  C. Line-level transaction flexfield, Invoice transaction flexfield. Reference flexfield. and Link to transaction flexfield

  D. Line-level transaction flexfield. Header-level transaction flexfield. and Reference flexfield

  Correct Answer: B

  These are the two flexfields that AutoInvoice requires to identify transactions and transaction lines, if you load the interface using a customized form. They are used to group transaction lines into transactions and assign transaction attributes. Verified References: [How You Define AutoInvoice Grouping Rules-Oracle]