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

• Question 71:

  To determine the best approach to converting a client's data, you must know which setup is set-enabled and can be shared.

  Identify three set-enabled setups in Receivables. (Choose three.)

  A. Collectors

  B. Standard Memo Lines

  C. Revenue Types

  D. Receivable Specialists

  E. Revenue Contingencies

  Correct Answer: BCE

• Question 72:

  In whatthree ways will changing customer information impact the collection process? (Choose three.)

  A. Changing information on the Profile tab does not have an impact on the level at which collections are done.

  B. Adding or modifying customer contact name on theContacts tab impacts where the correspondence is sent.

  C. Making changes on the Profile tab impacts the collection process.

  D. Business-unit-level changes will not impact the display of delinquent customers on the dashboard.

  E. Changing the Collector impacts the individual working with the delinquent customer.

  Correct Answer: BCE

• Question 73:

  Which statement is true when you create an Implementation Project forOracle Financials Cloud?

  A. The Implementation Project is preconfigured and cannot be deleted or changed.

  B. You must plan your Implementation Project carefully because you cannot delete it or make changes later.

  C. You must select the offering "Financials" and each individual product or option to perform the setup for each product in Oracle Financials Cloud.

  D. When you select the offering "Financials," it automatically allows you to perform the setup for all Oracle Financials Cloud products.

  E. You needto make only the project name unique, and then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management, and Supply Chain Management.

  Correct Answer: E

• Question 74:

  Your customer wants to override the calculated tax line amount for their receivable transaction.

  What steps should the customer perform to ensure that only one of their employees has this privilege?

  A. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable invoice event and grant the employee the "Tax Manager " data role.

  B. Enable the "Allow tax rate override" and "Allow manual tax lines" profiles at the user level, set, the value to Yes for the selected employee, and grant the "Tax Manager " data role to the employee.

  C. Enable "Allow override of calculated tax lines" within the tax configuration owner options forthe receivable invoice event and set the "Transaction Tax Line Override" profile option to Yes for the selected employee.

  D. Set the "Transaction Tax Line Override" profile option to Yes for the selected employee and assign the employee the "Tax Manager " data role.

  E. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable application and create a tax rule to grant this privilege only to the selected employee.

  Correct Answer: D

• Question 75:

  Which three benefits do intercompany reconciliation reports provide to anaccountant?

  A. Comparing receivables and payables account balances and identifying discrepancies.

  B. Displaying intercompany receivables and payables balancing lines.

  C. Identifying transaction portions (either receiver or provider side) that have not posted to General Ledger.

  D. Displaying clearing company balancing lines.

  Correct Answer: ABC

• Question 76:

  What do you need to total in order tofind the total transaction price for a customer contract that is calculated by Revenue Management?

  A. the extended SSP amounts for all performance obligations in the customer contract

  B. the SSP amounts for all performance obligations in the customer contract

  C. the selling price for all performance obligations in the customer contract

  D. the allocated amount for all performance obligations in the customer contract

  E. the billing amount for all performance obligations in the customer contract

  Correct Answer: E

• Question 77:

  Which two statements are true about Accounting for Tax onReceivables? (Choose two.)

  A. For Miscellaneous receipts, if the receivable activity tax rate code source is Activity for the activity type of Miscellaneous Cash, Receivables use the tax account that is defined on the receivable activity.

  B. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables derive the tax account from auto-accounting.

  C. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account that is defined on thereceivable activity.

  D. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account of the tax code.

  E. For Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to Yes, Receivables derive the item distribution from the invoice and the tax account from auto-accounting.

  F. For Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to No, Receivables derive the tax account from auto-accounting.

  Correct Answer: CE

• Question 78:

  When entering the values in the natural account spreadsheet of the rapid implementation for General Ledger workbook, which three accounts types are used to setup the default Receivable account combinations?(Choose three.)

  A. Liability-Unearned revenue

  B. Revenue-Revenue

  C. Liability-Accounts Payable

  D. Owner's equity

  E. Asset-Remitted Receipts

  Correct Answer: CDE

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faigl/financial-structures.html#FAIGL904964

• Question 79:

  Which two setups are required to create billsreceivables? (Choose two.)

  A. Statement cycles

  B. Lockbox

  C. Bills Receivable Matching Rules

  D. Bills Receivable Receipt method

  E. Customer account site with purpose of drawee

  Correct Answer: AD

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faofc/manage-bills-receivable.html#FAOFC1479829

• Question 80:

  Your customer has three sites defined in the system, site 1, site2, and site 3. All sites have their own billing strategy defined and Balance Forward Billing is enabled for site 1 and Site 2 at the account level.

  How will bills be generated?

  A. Sites 1, 2, and 3 activities will be included in a single bill.

  B. Sites 2and 3 activities will be included in a single bill.

  C. Sites 1 and 2 activities will be included in a single bill.

  D. Sites 1 and 3 activities will be included in a single bill.

  Correct Answer: C