[Oct-2021] Verified Oracle Exam Dumps with 1Z0-1056-20 Exam Study Guide
Best Quality Oracle 1Z0-1056-20 Exam Questions BootcampPDF Realistic Practice Exams [2021]
NEW QUESTION 22
Your customer has three business units. The customer wants to share customer account addresses across these business units.
Which reference data set can be used to achieve this?
- A. Assign an enterprise reference data set to the business units, which share the account addresses.
- B. Create a separate reference data set for each business unit and assign it to each unit.
- C. Assign a COMMON reference data set to the business units, which share the account addresses.
- D. Create a new reference data set for account addresses and assign it to the business units.
Answer: C
NEW QUESTION 23
Which three interest rate calculation formula methods are supported in Receivables? (Choose three.)
- A. Flat Rate
- B. Compound
- C. Average
- D. Declining Balance
- E. Simple
Answer: A,B,E
NEW QUESTION 24
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. Change the status of the invoice to Incomplete and enter a new invoice for Customer B.
- C. Navigate to the credit transaction link in the Billing work area, credit the entire amount, and enter a new invoice for Customer B.
- D. Create an on-account credit memo for $100 USD for the invoice and enter a new invoice for Customer
Answer: A
NEW QUESTION 25
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. the employees who are involved with the collections process and how the collectors will be assigned
- B. system privileges
- C. customer contact information
- D. scheduled processes
- E. user application privileges
Answer: A
NEW QUESTION 26
Which two statements are true about processing Receivables adjustments that impact tax amounts?
- A. Receivables can look at System Options and retrieve the tax rate code.
- B. There is no need to retrieve the tax rate code.
- C. Receivables can look at the adjustment activity and retrieve the tax rate code.
- D. Receivables can look at invoice and retrieve the tax rate code.
Answer: A,D
NEW QUESTION 27
Which two duties are included in the Accounts Receivable Specialist associated role? (Choose two.)
- A. Trading Community Hierarchy Management Duty
- B. Receipt Creation Duty
- C. Payment Settlement Management Duty
- D. Import Payables Invoices Duty
Answer: C,D
NEW QUESTION 28
After a customer bankruptcy is approved, what happens in the Collections application?
- A. The Bankrupt Customer Collection job is automatically submitted to close all open transactions for the customer.
- B. Collection activities are suspended, delinquent transactions no longer appear on the Collections Work Area and customer status is changed to Bankrupt.
- C. Collection activities are suspended and delinquent transactions appear in the Collections Work Area.
- D. Collection activities remain active, delinquent transactions appear in the Collections Work Area but customer status is changed to Bankrupt.
Answer: B
NEW QUESTION 29
To meet the business needs of most organizations, "Common Set" is seeded InFusion for all set-enabled objects with the exception of _________________.
- A. Aging Methods
- B. AutoCash Rules
- C. Customer Site
- D. Revenue Scheduling Rules
- E. AutoMatch Rule Sets
Answer: C
NEW QUESTION 30
Which two are Late Charge Calculation Methods?
- A. Adjustment
- B. Overdue Invoices Only
- C. Credit Items and Disputed Transactions
- D. Late Payments Only
Answer: B,D
Explanation:
https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_9F953CFFF569FA73E040D30A688151DC
NEW QUESTION 31
Identify the dunning letter template set provided by an application.
- A. Soft, Regular, Hard
- B. Regular, Final Demand, Medium
- C. Regular, Medium, Hard
- D. Final Demand, Soft, Medium
Answer: D
NEW QUESTION 32
When a customer opts to make a payment by a credit card, this receipt is identified as a(n)
_______________.
- A. AutoLockbox receipt
- B. manual receipt
- C. quick cash receipt
- D. automatic receipt
- E. miscellaneous receipt
Answer: D
NEW QUESTION 33
The process of remitting receipts to a bank results in fund transfer errors.
Identify three corrective actions to resolve this. (Choose three.)
- A. change of instrument
- B. debit memo reversal
- C. credit reversal
- D. clearing payment information
- E. receipt reversal
Answer: A,D,E
NEW QUESTION 34
Which two statements are true about configuring Collection Strategies?
- A. You need to create Scoring Formulae (or use predefined Scoring Formulas).
- B. You need to SGI the (Collections Method to Strategies for the relevant business unit.
- C. You need to define an Aging Method that meets the requirements of your organization.
- D. You need to create Strategy Tasks of the type "Automatic" only.
Answer: A,D
NEW QUESTION 35
As a Billing Manager you are responsible for reviewing adjustments and approving them. Which action is not available in the "Approve Adjustments" page?
- A. Reject
- B. Request Information
- C. Edit
- D. Reassign
- E. Approve
Answer: D
NEW QUESTION 36
Your customer wants to retrieve values for the Line of Business segment based on Customer Class for the Revenue account.
Which option would you use to achieve this with the help of the Subledger Accounting solution?
- A. Supporting References
- B. Transaction References
- C. Description Rule
- D. Mapping Set
Answer: A
NEW QUESTION 37
A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation.
How would you configure the Performance Obligation Identification Rule to ensure correct grouping of these items?
- A. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute
- B. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain the same value for that attribute
- C. by defining an item group and assigning that to the rule
- D. by defining an exclusion rule to exclude customer classes that are "Retail"
- E. by defining a grouping rule on the customer class
Answer: A
NEW QUESTION 38
What are the two locations where the system can look for Receipt Match By Value when Receivables applies customer payments automatically for manually created receipts? (Choose two.)
- A. Customer
- B. AutoMatch Rule
- C. System Options
- D. Receipt Method
Answer: A,C
NEW QUESTION 39
Identify two credit memo options. (Choose two.)
- A. Paid freight
- B. Invoice lines
- C. Paid amount only
- D. Tax only
- E. Advance
Answer: B,D
NEW QUESTION 40
Which two determinant types are used in reference data assignment? (Choose two.)
- A. Account Segment
- B. Project Segment
- C. Project unit
- D. Business Unit
Answer: C,D
NEW QUESTION 41
Which two Collection Preferences can be selected as the default transaction class for the Transaction tab? (Choose two.)
- A. Charge Back
- B. Deposit
- C. Debit Memo
- D. Guarantee
- E. Credit Memo
Answer: C,E
NEW QUESTION 42
Which three transaction types are used to generate late charges? (Choose three.)
- A. Adjustments against the original transaction
- B. Debit Memo
- C. Cash Receipts
- D. Interest Invoice
- E. Credit Memo
Answer: A,D,E
Explanation:
Reference: https://docs.oracle.com/cloud/latest/financialscs_gs/FAIRP/FAIRP1476421.htm
NEW QUESTION 43
Which statement is true when you create an Implementation Project for Oracle Financials Cloud?
- A. You must plan your Implementation Project carefully because you cannot delete it or make changes later.
- B. You need to 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.
- C. The Implementation Project is preconfigured and cannot be deleted or changed.
- D. When you select the offering "Financials," it automatically allows you to perform the setup for all Oracle Financials Cloud products.
- E. You must select the offering "Financials" and each individual product or option to perform the setup for each product in Oracle Financials Cloud.
Answer: B
NEW QUESTION 44
What are the three setup steps required to implement the Lockbox feature? (Choose three.)
- A. Receipt Classes and Receipt Methods
- B. late charges
- C. Receipt Sources
- D. Lockbox and Lockbox Transmission Formats
- E. credit card refunds
Answer: A,C,D
NEW QUESTION 45
Which role provides access to Receivables - Revenue Adjustments Real Time OTBI Subject area?
- A. Revenue Manager
- B. Billing Specialist
- C. Accounts Receivable Specialist
- D. Accounts Receivable Manager
Answer: C
NEW QUESTION 46
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