Released Oracle 1Z0-1056-21 Updated Questions PDF
1Z0-1056-21 Dumps and Practice Test (156 Exam Questions)
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NEW QUESTION 71
Which role provides access to Receivables - Revenue Adjustments Real Time OTBI Subject area?
- A. Accounts Receivable Specialist
- B. Revenue Manager
- C. Accounts Receivable Manager
- D. Billing Specialist
Answer: A
Explanation:
References:
NEW QUESTION 72
You are configuring tax for Receivables to cash transactions.
Which two additional Party types can be selected only in the Tax engine for Receivables Transactions to identify the place of supply? (Choose two.)
- A. Ship-from party
- B. Bill-to party
- C. Ship-to party
- D. Point of acceptance party
- E. Point of origin party
Answer: A,E
NEW QUESTION 73
Which two setups are required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices? (Choose two.)
- A. First enter a payable transaction to calculate tax and then enter the receivable transaction.
- B. Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.
- C. Intercompany system options enable use of the same tax rate code for the payable and receivable invoices.
- D. Ensure if any tax-specific rules that are defined should cover both the sales_transaction and purchase_transaction business category.
- E. Tax for intercompany is loaded by using Create Taxable Transactions in Spreadsheet.
- F. The payable options and the receivable system options should have the same tax application options.
Answer: B,F
NEW QUESTION 74
You are reviewing an invoice on the Review Transaction page. After clicking the Sales Credit subtab, you notice the following breakdown: Revenue Allocation and Nonrevenue Allocation.
What is a Nonrevenue Allocation?
- A. sales credits associated to deferred revenue
- B. additional incentive-based sales credits
- C. sales credit reversals due to credit memo creation
- D. sales credit allocation based on billing corrections
Answer: C
NEW QUESTION 75
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. an inventory item
- B. a debit memo line
- C. a purchasing item
- D. a standard memo line
- E. a credit memo line
Answer: A,D
Explanation:
References:
NEW QUESTION 76
Which two statements are true regarding the Promise to Pay feature in the Collections application?
- A. You can cancel a promise made in error if it is before the promise due date.
- B. Promise information is updated by scheduling the Promise Reconciliation process.
- C. Mass promise to pay amounts automatically become partial payments.
- D. You cannot cancel a promise made in error if it is before the promise due date.
Answer: C
NEW QUESTION 77
Which flexfields are required to be used by auto invoice to identify transactions and transaction lines, if you load the interface using a customized form?
- A. Line-level transaction flexfield, Header-level transaction flexfield, Link to transaction flexfield
- B. Line-level transaction flexfield, Header-level transaction flexfield, Reference flexfield
- C. Line-level transaction flexfield, Header-level transaction flexfield
- D. Line-level transaction flexfield, Invoice transaction flexfield, Reference flexfield, Link to transaction flexfield
Answer: D
NEW QUESTION 78
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. New transactions after this change inherit the new billing cycle.
- C. Existing transactions with activity adapt the new billing cycle.
- D. Existing transactions with no activity retain the old billing cycle.
Answer: B
NEW QUESTION 79
If the Contract Identification Rules that you defined for your customer did not group the source data into customer contracts as expected, how would you resolve the issue?
- A. Delete Contracts from the Manage Customer Contracts UI.
- B. Delete the performance obligations from the relevant contracts through the Manage Customer Contracts UI.
- C. Delete the source data that was imported into Revenue Management and import new source data.
- D. Run the Discard Customer Contracts program for the relevant contracts and run the Identify Customer contracts program again.
- E. Run the Discard Customer Contracts program for the relevant contracts, define a new, higher-priority Contract Identification Rule, and run the Identify Customer Contracts program again.
Answer: E
Explanation:
References:
NEW QUESTION 80
As a consultant, you have built the following Scoring model in Advanced Collections:
If a customer has 10 past due transactions and an amount overdue of $125, what is the calculated score?
- A. 0
- B. 1
- C. 2
- D. 3
- E. 4
Answer: C
NEW QUESTION 81
Which three transaction types are used to generate late charges? (Choose three.)
- A. Interest Invoice
- B. Cash Receipts
- C. Adjustments against the original transaction
- D. Credit Memo
- E. Debit Memo
Answer: A,C,D
Explanation:
Reference: https://docs.oracle.com/cloud/latest/financialscs_gs/FAIRP/FAIRP1476421.htm
NEW QUESTION 82
Which two are NOT components of a Business Intelligence Publisher report? (Choose two.)
- A. View
- B. Translation
- C. Layout
- D. Matrix
- E. Data Model
Answer: A,D
NEW QUESTION 83
Which four output file types are available when you run the "Print Receivables Transactions" program?
- A. JPG
- B. PDF
- C. Word
- D. HTML
- E. Excel
- F. Zipped PDFs
Answer: B,D,E,F
NEW QUESTION 84
Your company wants to generate Intercompany transactions only if the amount Involved is equal to or greater than $3,000 USD.
How should you configure Intercompany System Option*; to meet this requirement?
- A. Set "Minimum Transaction Amount" to 3,000 and "Minimum entered Currency" to USD.
- B. Set "Minimum Transaction Amount" to 2,999.99 and "Minimum Entered Currency" to ALL
- C. Define intercompany approval rule, to automatically reject intercompany transactions that do not meet the minimum amount requirement.
- D. Set "Minimum Invoice Amount" to 3,000 and "Invoice Currency" to USD in Payables Invoice Options and Receivables System Options.
Answer: D
NEW QUESTION 85
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 Miscellaneous receipt.
- B. You are reversing a receipt that you previously applied to a 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 receipt that you previously applied to a chargeback and this chargeback was not accounted.
Answer: C
NEW QUESTION 86
Your client processes many customer refunds on a regular basis and would like to have information about recent refunds (including their status) for analytical purposes.
What should you do to meet this requirement in an efficient manner?
- A. Search in the Receivables "Manage Credit Memo Applications" page, then export results to Excel.
- B. Search in the Payables "Manage Payments" page, then export results to Excel.
- C. Create an Oracle Transactional Business Intelligence (OTBI) analysis.
- D. Run the predefined Transaction Details Report.
Answer: C
NEW QUESTION 87
Which reporting tool is primarily used by users to create ad hoc analysis from real-time Receivables data?
- A. Financial Reporting Web Studio
- B. ADFdi Spreadsheets
- C. Smart View
- D. XML Publisher
- E. Oracle Transaction Business Intelligence
Answer: E
NEW QUESTION 88
Which three attributes are displayed in the detail table of the Balance forward Bill infotile? (Choose three.)
- A. Billing date
- B. Amount due on Bill
- C. Due date
- D. Collector
- E. Past due Amount
Answer: A,B,C
NEW QUESTION 89
You are utilizing the "Upload Customer From Spreadsheet" option. What information on the Customer Worksheet must be unique for each customer record?
- A. Customer Name, Customer Billing Address, Customer Bank Account
- B. Customer Number, Customer Account Number, Customer Site Number
- C. Customer Name, Customer Account Number, Customer Site Number
- D. Customer Number, Customer Billing Address, Customer Bank Account
Answer: B
NEW QUESTION 90
Which method is used to allocate total transaction price across performance obligations in Revenue Management?
- A. Two Step Allocation Method
- B. Inverted Allocation Method
- C. Alternative Allocation Method
- D. Relative Allocation Method
- E. Residual Allocation Method
Answer: A
Explanation:
References:
NEW QUESTION 91
Which two statements are true when you are using the Intercompany Reconciliation Process? (Choose two.)
- A. The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
- B. The Clearing Company Balancing Lines appear in the Intercompany Reconciliation Summary Report.
- C. You need to submit the Extract Intercompany Reconciliation Data job.
- D. The Transaction Summary Report shows only transactions with a status of received.
- E. The ledger balancing lines are generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.
Answer: A,E
Explanation:
References:
NEW QUESTION 92
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. Receivable Specialists
- B. Collectors
- C. Revenue Types
- D. Standard Memo Lines
- E. Revenue Contingencies
Answer: C,D,E
NEW QUESTION 93
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