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

• Question 51:

  Which two are Late Charge Calculation Methods?

  A. Credit Items and Disputed Transactions

  B. Late Payments Only

  C. Adjustment

  D. Overdue Invoices Only

  Correct Answer: BD

  https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_9F953CFFF569FA73E040D30A688151DC

• Question 52:

  Debit Memo Reversal is a new receivable that replaces the item closed by the original receipt.

  When should the Debit Memo Reversal method be used to reverse a receipt?

  A. You are reversing a receipt that you previously applied to a chargeback and this chargeback was not accounted.

  B. You are reversing a receipt that you previously applied toa chargeback and this chargeback was posted to your general ledger.

  C. You are reversing a receipt that you previously applied to a chargeback and this chargeback has had no activity (another receipt or credit memo or adjustment) against it.

  D. You are reversing a Miscellaneous receipt.

  Correct Answer: C

  Reference: https://docs.oracle.com/cd/A60725_05/html/comnls/us/ar/recpts13.htm

• Question 53:

  What are the three seeded contract configuration rules that Revenue Management provides to automatically create contracts? (Choose three.)

  A. by Quote Number and time frame

  B. by Source Document and time frame

  C. by Item and time frame

  D. by Customer and time frame

  E. by Source Document Line andtime frame

  Correct Answer: BCE

• Question 54:

  A customer calls the Accounts Receivables department and asks for the balance of all invoices that are due in the next 30 days. The customer also has a question about a specificinvoice line.

  As a Billing Specialist, which action would you take?

  A. Search for the information in the Review Customer Account Details user interface.

  B. Apply, reverse, or process the receipt.

  C. Create an open debit memo.

  D. Search for open invoiceson the Manage Transaction search page.

  Correct Answer: A

• Question 55:

  The Multifund Accounting feature supports detailed distributions for invoices with revenue recognition rules. For a customer invoice with the distributions below:

  

  Which unearned revenue accounting entries will the feature generate?

  A. Credits of $900 and $600 for companies 01 and 02 respectively

  B. Credits of $900 and $500 for companies 01 and 02 respectively

  C. Debit of $900 and credit of $500 for companies 01 and 02 respectively

  D. Credit of $900 and debit of $500 for companies 01 and 02 respectively

  E. Debits of $900 and $500 for companies 01 and 02 respectively

  Correct Answer: C

• Question 56:

  Identify two credit memo options. (Choose two.)

  A. Tax only

  B. Advance

  C. Paid freight

  D. Invoice lines

  E. Paid amount only

  Correct Answer: AD

• Question 57:

  You are asked to amend subledger accounting and reporting to include origin and history of Receivable transactions.

  Which three event attributes should be used? (Choose three.)

  A. Transaction number of amendments:

  B. Transaction created by

  C. Transaction last update date

  D. Transaction creation date

  E. Transaction type of update

  Correct Answer: ACE

• Question 58:

  Which two setups are required to ensure that the same tax is applied on both intercompany payableand intercompany receivable invoices? (Choose two.)

  A. Intercompany system options enable use of the same tax rate code for the payable and receivable invoices.

  B. The payable options and the receivable system options should have the same tax applicationoptions.

  C. Tax for intercompany is loaded by using Create Taxable Transactions in Spreadsheet.

  D. First enter a payable transaction to calculate tax and then enter the receivable transaction.

  E. Ensure if any tax-specific rules that are defined should cover both the sales_transaction and purchase_transaction business category.

  F. Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.

  Correct Answer: BF

• Question 59:

  What are the three setup steps required to implement the Lockbox feature? (Choose three.)

  A. Receipt Classes and Receipt Methods

  B. late charges

  C. Lockbox and Lockbox Transmission Formats

  D. Receipt Sources

  E. credit card refunds

  Correct Answer: ACD

• Question 60:

  Which three attributes are displayed in the detail table of the Balance forward Bill infotile? (Choose three.)

  A. Due date

  B. Amount due on Bill

  C. Past due Amount

  D. Collector

  E. Billing date

  Correct Answer: ABE

  Reference:https://www.oracle.com/webfolder/technetwork/tutorials/tutorial/cloud/r13/wn/fin/releases/19D/19D-financials-wn.htm