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

• Question 21:

  Your Customer Upload Batch with an error and you identify the error as being due to an incorrect Payment Method.

  How will you correct the error?

  A. by using the Customer Import Interface work area

  B. by using the correct Customer PaymentMethod spreadsheet

  C. by using the correct Customer Data spreadsheet

  D. by importing the correct data by using a new spreadsheet upload

  Correct Answer: B

• Question 22:

  What is the impact on transactions of changing the billing cycle for a customer or group of customers?

  A. The billing cycle does not have any impact on new transactions.

  B. Existing transactions with no activity retain the old billing cycle.

  C. Existing transactions with activity adapt the new billing cycle.

  D. New transactions after this change inherit the new billing cycle.

  Correct Answer: D

• Question 23:

  Which role provides access to Receivables ?Revenue Adjustments Real Time OTBI Subject area?

  A. Revenue Manager

  B. Accounts Receivable Manager

  C. Accounts Receivable Specialist

  D. BillingSpecialist

  Correct Answer: C

• Question 24:

  After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the Transactions window.

  What are three results of this action? (Choose three.)

  A. Payment schedules are created using the payment terms specified.

  B. The invoice issent for a dunning follow-up.

  C. The invoice can now be printed.

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

  E. The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables optionset to No.

  Correct Answer: ACD

• Question 25:

  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

• Question 26:

  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 27:

  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 28:

  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 29:

  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 30:

  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