1Z0-1056-21 Practice Dumps - Verified By Pass4training Updated 156 Questions
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NEW QUESTION 14
Which four output file types are available when you run the "Print Receivables Transactions" program?
- A. Word
- B. HTML
- C. PDF
- D. JPG
- E. Zipped PDFs
- F. Excel
Answer: B,C,E,F
NEW QUESTION 15
Which method is used to allocate total transaction price across performance obligations in Revenue Management?
- A. Inverted Allocation Method
- B. Alternative Allocation Method
- C. Two Step Allocation Method
- D. Relative Allocation Method
- E. Residual Allocation Method
Answer: C
Explanation:
References:
NEW QUESTION 16
A client has implemented a revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines is associated with both a nonstandard refund policy (60 days) and an acceptance clause (100 days).
When will revenue be recognized?
- A. after 100 days
- B. after 60 days
- C. only after manual intervention
- D. immediately
Answer: A
NEW QUESTION 17
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. scheduled processes
- D. customer contact information
- E. user application privileges
Answer: A
Explanation:
References:
NEW QUESTION 18
You schedule print runs of transactions and balance forward bills according to the needs of your enterprise.
Which three statements are true? (Choose three.)
- A. It is recommended that you always print directly from BI Publisher to give you more control over the templates in case you need to change them.
- B. Both the transaction, or each transaction in a balance forward bill, will be marked as printed in the system.
- C. It is not recommended to print transactions and balance forward bills directly from BI Publisher.
- D. If you have not printed a transaction, the View Print button (Preview of Print) displays the transaction according to the default template in BI Publisher.
- E. If you have printed a transaction, the View Print button will not display a preview of the print.
Answer: A,B,D
NEW QUESTION 19
You have created payment terms in a system and associated them in the USA reference data set. All the payment terms in the system are shown as follows. Business Unit X has a set assignment of Enterprise Set for payment terms.
Payment Term = Net 30; Reference Data Set = Enterprise Set
Payment Term = Net 45; Reference Data Set = Enterprise Set
Payment Term = 1%/10 Net 30; Reference Data Set = USA Set
Payment Term = Net 45; Reference Data Set = USA Set
If an invoice is created in Business Unit X, which payment term set is available for use in a transaction?
- A. Net 30 (Enterprise Set), Net 45 (Enterprise Set)
- B. Net 30 (Enterprise Set), Net 45 (USA Set)
- C. Net 45 (Enterprise Set), Net 45 (USA Set)
- D. 1%/10 Net 30 (USA Set), Net 45 (USA Set)
Answer: A
NEW QUESTION 20
Which two statements are true about configuring Collection Strategies?
- A. You need to SGI the (Collections Method to Strategies for the relevant business unit.
- B. You need to create Scoring Formulae (or use predefined Scoring Formulas).
- C. You need to create Strategy Tasks of the type "Automatic" only.
- D. You need to define an Aging Method that meets the requirements of your organization.
Answer: B,C
NEW QUESTION 21
A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the remaining balance on open invoices, but some of the amounts have exceeded the Billing Specialist's approval limits.
What would be the result?
- A. The program creates the adjustments only for the amounts within the Billing Specialist's approval limits.
- B. The program can be run only if the amount is within the Billing Specialist's approval limits.
- C. The program creates the adjustments with a status of Rejected for the amount that exceeds the Billing Specialist's approval limits.
- D. The program creates the adjustments with a status of Pending Approval for the amount that exceeds the Billing Specialist's approval limits.
Answer: D
Explanation:
Reference: https://docs.oracle.com/cd/A60725_05/html/comnls/us/ar/adjust.htm#n_adj
NEW QUESTION 22
After a customer bankruptcy is approved, what happens in the Collections application?
- A. Collection activities are suspended and delinquent transactions appear in the Collections Work Area.
- B. Collection activities remain active, delinquent transactions appear in the Collections Work Area but customer status is changed to Bankrupt.
- C. The Bankrupt Customer Collection job is automatically submitted to close all open transactions for the customer.
- D. Collection activities are suspended, delinquent transactions no longer appear on the Collections Work Area and customer status is changed to Bankrupt.
Answer: D
NEW QUESTION 23
Which two statements are true about Accounting for Tax on Receivables? (Choose two.)
- A. 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.
- 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 of the tax code.
- D. 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.
- E. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account that is defined on the receivable activity.
- 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.
Answer: A,E
NEW QUESTION 24
What information does the Collector see in the Activities List area of the Collections Dashboard?
- A. customer's profile for each assigned customer
- B. tasks assigned to the Collector, such as follow-up calls
- C. customer search as per the parameter specified
- D. status of processing activities from the Process Monitor
- E. summary of aged transactions
Answer: B
Explanation:
References:
NEW QUESTION 25
Identify three activities that you can perform from the Collections Dashboard. (Choose three.)
- A. Update the work status of a work item for a delinquent customer.
- B. Assign a Collector to a delinquent customer.
- C. Verify Customer Payments.
- D. View the Total Amount Due for delinquent customers.
- E. Record an activity to create a task or tasks to follow up on a delinquent customer.
Answer: A,B,E
NEW QUESTION 26
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 your organization's bank account?
- A. Automatic Receipt Process
- B. Remittance Process
- C. Lockbox Process
- D. Clear Receipts Automatically Process
Answer: B
NEW QUESTION 27
The Billing Manager has navigated to the Billing Work Area to review incomplete transactions.
Which link on the Incomplete Infotile will provide detailed information on the most recent incomplete transactions?
- A. 20+ Days Link
- B. 0-10 Days Link
- C. 10+Days Link
- D. 0-5 Days Link
Answer: B
NEW QUESTION 28
The Billing Manager has navigated to the Billing work area to complete a transaction. The Incomplete Transactions Overview Region on the Billing Work Area page has a drilldown option through a column to complete the transaction.
Identify the column.
- A. Transaction Number
- B. Transaction Date
- C. Transaction Class
- D. Transaction Source
Answer: A
NEW QUESTION 29
Which two are Late Charge Calculation Methods?
- A. Late Payments Only
- B. Credit Items and Disputed Transactions
- C. Adjustment
- D. Overdue Invoices Only
Answer: A,D
NEW QUESTION 30
Which three Infotiles can be seen in the Accounts Receivables work area? (Choose three.)
- A. Activities
- B. Unapplied Credits
- C. Receipt Batches
- D. Unidentified Receipts
- E. Unapplied Receipts
Answer: B,C,E
NEW QUESTION 31
When reversing a receipt, if an adjustment or chargeback exists, how are the off-setting adjustments created?
- A. manually by using Chargeback Reversal activities
- B. manually, but without using the Adjustment Reversal and Chargeback Reversal activities
- C. manually by using Adjustment Reversal activities
- D. automatically by using the Adjustment Reversal and Chargeback Reversal activities
- E. automatically, but without using the Adjustment Reversal and Chargeback Reversal activities
Answer: D
Explanation:
When you reverse a receipt, if an adjustment or chargeback exists, Receivables automatically generates off-setting adjustments using the Adjustment Reversal and Chargeback Reversal activities.
References:
NEW QUESTION 32
An invoice for $100 USD has revenue deferred due to unmet payment-based contingencies and the Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 USD has been issued against this invoice.
Explain how revenue accounting will occur.
- A. Earned revenue will be credited for $50 USD.
- B. Unearned revenue will be debited for $50 USD.
- C. Earned revenue will be debited for $50 USD.
- D. Unearned revenue will be credited for $100 USD.
Answer: A
NEW QUESTION 33
When defining the receipt method for automatic receipt processing, the business requirement is to produce the minimum number of payments.
Which receipt rule should you define?
- A. One per Customer
- B. One per invoice
- C. One per site per due date
- D. One per Customer per due date
Answer: B
NEW QUESTION 34
What validation step is required for implementing dispute processing?
- A. The Recognize Revenue Program is scheduled.
- B. Periods for which the transaction can be disputed are Open.
- C. BPM Work List for approval configuration is validated.
- D. All transactions are of the invoice type.
Answer: C
Explanation:
References:
NEW QUESTION 35
Which setup is required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices?
- A. Receiver and provider business units and legal entities must be subscribed to the applicable tax regime on the transaction date.
- B. Same tax rate code must be populated in Intercompany System Options for both Payables and Receivables invoices.
- C. Intercompany invoicing must be enabled in Payables Invoice Options.
- D. Intercompany invoicing must be enabled in Receivables System Options.
Answer: A
NEW QUESTION 36
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