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

• Question 11:

  After a customer bankruptcy is approved, what happens in the Collections application?

  A. Collection activities are suspended, delinquent transactions nolonger appear on the Collections Work Area and customer status is changed to Bankrupt.

  B. Collection activities remain active, delinquent transactions appear in the Collections Work Area but customer status is changed to Bankrupt.

  C. Collection activitiesare suspended and delinquent transactions appear in the Collections Work Area.

  D. The Bankrupt Customer Collection job is automatically submitted to close all open transactions for the customer.

  Correct Answer: A

• Question 12:

  If AutoAccounting is set to derive accounting segments based on a standard line, the transaction line must be either ________________ or ________________. Otherwise, AutoAccounting cannot derive a valid account code combination for revenue recognition.

  Identify the two values. (Choose two.)

  A. a standard memo line

  B. a purchasing item

  C. a credit memo line

  D. an inventory item

  E. a debit memo line

  Correct Answer: AD

• Question 13:

  The Billing Manager has navigated to the Billing Work Area to review incomplete transactions.

  Which link on the Incomplete Infotile will provide detailed information onthe most recent incomplete transactions?

  A. 20+ Days Link

  B. 0-10 Days Link

  C. 0-5 Days Link

  D. 10+Days Link

  Correct Answer: B

• Question 14:

  Which two statements are true when you are using the Intercompany Reconciliation Process? (Choose two.)

  A. The Transaction Summary Report shows only transactions with a status of received.

  B. The Clearing Company Balancing Lines appear in the Intercompany Reconciliation Summary Report.

  C. The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.

  D. The ledger balancing lines are generated when theprimary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.

  E. You need to submit the Extract Intercompany Reconciliation Data job.

  Correct Answer: CD

• Question 15:

  A Billing Specialist has created and completed an invoice for $100 USD for Customer A. The Specialist prints the invoice and realizes that the invoice should have been created for Customer B. The accounting for the transaction for Customer A is posted to the General Ledger.

  How can this be corrected?

  A. Create an adjustment for the entire amount and create a negative adjustment for Customer B.

  B. Create an on-account credit memo for $100 USD for the invoice and enter a new invoice for Customer B.

  C. Change the status of the invoice to Incomplete and enter a new invoice for Customer B.

  D. Navigate to the credit transaction link in the Billing work area, credit the entire amount, and enter a new invoice for Customer B.

  Correct Answer: B

• Question 16:

  Which three receipts can be automatically applied by a system? (Choose three.)

  A. receipts that are unapplied

  B. receipts created in a spreadsheet and uploaded

  C. miscellaneous receipts

  D. receipts that are manually created

  E. receipts created in a lockbox and uploaded

  Correct Answer: CDE

• Question 17:

  If a customer has more than one transaction with the same number within a Lockbox transmission, then in which two receipt statuses are the receipts left? (Choosetwo.)

  A. On-account, if the Customer Account Number or MICR is provided and there are no matching recommendations

  B. Unapplied, if the Customer Account Number or MICR number is provided

  C. Unidentified, if the Customer Account Number or MICR is notprovided and there are no successful matching recommendations

  D. Applied, if the Customer Account Number or MICR number is provided

  Correct Answer: BC

  Reference: https://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20375/F569972AN6AE15.htm

• Question 18:

  Which two statements are true regarding the Promise to Pay feature in the Collections application?

  A. Mass promise to pay amounts automatically become partial payments.

  B. You cannot cancel a promise made in error if it is before the promise duedate.

  C. Promise information is updated by scheduling the Promise Reconciliation process.

  D. You can cancel a promise made in error if it is before the promise due date.

  Correct Answer: A

• Question 19:

  Which four output file types are available when you run the "Print Receivables Transactions" program?

  A. JPG

  B. PDF

  C. Excel

  D. HTML

  E. Word

  F. Zipped PDFs

  Correct Answer: BCDF

• Question 20:

  You need to make decisions about how an application should behave, such as date ranges and defaults.

  What should you consider before defining Collections Preferences?

  A. scheduled processes

  B. system privileges

  C. user application privileges

  D. the employees who are involved with the collections process and how the collectors will be assigned

  E. customer contact information

  Correct Answer: D