New 2021 Latest Questions 1Z0-1056-21 Dumps - Use Updated Oracle Exam
Latest 1Z0-1056-21 Exam Dumps Oracle Exam from Training Expert ITExamSimulator
NEW QUESTION 26
A company's policy is always to apply customer payments to debit and credit items, starting with the oldest due date.
Which function should you include in the default Auto-cash rule?
- A. Apply to the oldest invoice first
- B. Clear the past due invoices grouped by payment terms
- C. Clear the account
- D. Clear past due invoices
- E. Match payment with Invoice
Answer: A
NEW QUESTION 27
What is the order used to group transaction lines during the AutoInvoice Import process?
- A. Transaction Source, Customer Account Profile, Customer Site Profile, system options
- B. Transaction Source, Customer Site Profile, Customer Account Profile, system options
- C. Transaction Source, Customer Account Profile, system options, Customer Site Profile
- D. System options, Customer Site Profile, Transaction Source, Customer Account Profile
Answer: B
Explanation:
References:
NEW QUESTION 28
Which transactions are included when transactions of specified customers are selected in the Create Balance Forward Billing Program?
- A. transactions that have the Print Option set to Do Not Print
- B. transactions have a Bill Type of Imported
- C. transactions that have the selected payment terms
- D. transactions that were included in a previous Balance Forward Bill
Answer: C
Explanation:
References:
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. AutoCash Rules
- B. Aging Methods
- C. Revenue Scheduling Rules
- D. AutoMatch Rule Sets
- E. Customer Site
Answer: E
NEW QUESTION 30
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 31
If a receipt cannot be automatically matched or transaction information is not available, Receivables can use the AutoCash rule set.
In which three places is the rule set found? (Choose three.)
- A. Customer Account
- B. System Options
- C. Receipt Class
- D. Customer Site
- E. Receipt Method
Answer: A,D,E
Explanation:
If transactions cannot be matched or transaction information is not available, Receivables uses the AutoCash rule set defined for the customer profile either at the customer site or customer level to apply the receipt. If the customer does not have an AutoCash rule set assigned to a profile, Receivables uses the AutoCash rule set assigned to system options and the number of discount grace days defined in the customer site or customer profile to apply the receipt.
References:
NEW QUESTION 32
ABC Company uses euros as the ledger currency, and it receives an invoice with three line items in Norwegian krone. For this example, the conversion rate between the krone and the euro is 6.55957. The lines total of invoice is 7.93 euro. However, the invoice amount shows a total of 7.92 euro. The user was not able to run the accounting.
Where should you define the header-level rounding account?
- A. Receivable System Option
- B. Customer Account Level
- C. Transaction Type
- D. Transaction Source
- E. Customer Site Level
Answer: D
NEW QUESTION 33
How can a Collector assigned to a Customer modify a strategy that is assigned from the Collections Dashboard?
- A. The Collector can modify the strategy from the Profile > Strategies tab.
- B. A strategy is automatically assigned based on Scoring and cannot be manually assigned to a Customer by a Collector.
- C. The strategy can be modified from the Manage Customers page.
- D. Only a Collections Administrator can modify the strategy.
Answer: B
NEW QUESTION 34
You are trying to migrate the Subledger Accounting setup by using the Export and Import functionality in the Setup and Maintenance work are a. The import process, however, returns errors. Identify two reasons for the import failure.
- A. an inactive Mapping Set
- B. an inactive Accounting Method
- C. an inactive Journal Line Type
- D. an inactive Journal Entry Rule Set
Answer: A
NEW QUESTION 35
Which two are rules applicable to issue of refunds? (Choose two.)
- A. You can refund receipts that were either remitted or cleared.
- B. You can issue a credit card refund to a customer who has made a cash payment.
- C. You cannot refund more than either the original receipt amount or the remaining unapplied amount.
- D. You can refund receipts that are factored.
Answer: A,C
Explanation:
References:
NEW QUESTION 36
Which two items are required for customer invoicing? (Choose two.)
- A. Customer Profile Class
- B. Customers
- C. Lockbox
- D. Remit-to-address
Answer: A,C
NEW QUESTION 37
A client rents equipment for special events. They have the following invoicing requirements: invoice must De entered and be due either immediately, or 20 or 10 days before the event. The Deferred Event Revenue Account for Rentals is to be credited at the time of invoice booking. After the events occur, the client wants all lines to debit the Deferred Event Revenue Account and credit the Event Revenue.
How can you meet this requirement?
- A. Create a Revenue Contingency with Revenue Policy as None and Contingency Primary Removal Event as Payment.
- B. Create a Revenue Contingency with Revenue Policy as Credit, Contingency Primary Removal Event as Milestone Billing, and Optional Removal Event as Fulfillment Date.
- C. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Contingency Expiration, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.
- D. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Invoicing, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.
Answer: A
NEW QUESTION 38
Which three Infotiles can be seen in the Accounts Receivables work area? (Choose three.)
- A. Unidentified Receipts
- B. Unapplied Receipts
- C. Unapplied Credits
- D. Receipt Batches
- E. Activities
Answer: B,C,D
NEW QUESTION 39
Identify two credit memo options. (Choose two.)
- A. Advance
- B. Tax only
- C. Paid freight
- D. Paid amount only
- E. Invoice lines
Answer: B,E
NEW QUESTION 40
Your client performs many customer refunds and would like to search for real-time Receivables Refunds Status easily.
What should you do to meet this requirement?
- A. Query each customer refund and verify the Refund Status.
- B. Create a Business Intelligence Publisher Report because you cannot create an OTBI Report for refunds.
- C. Create a Real Time Report by using Oracle Transactional Business Intelligence (OTBI).
- D. Create an Oracle Business Intelligence Applications (OBIA) Report.
Answer: C
NEW QUESTION 41
The Business Intelligence repository contains metadata that defines columns, which you can include in an analysis.
Which three types of columns are available when you create or edit an analysis? (Choose three.)
- A. Fact
- B. Attribute
- C. Sum
- D. Function
- E. Hierarchy
Answer: A,B,E
NEW QUESTION 42
What information does the Collector see in the Activities List area of the Collections Dashboard?
- A. tasks assigned to the Collector, such as follow-up calls
- B. customer search as per the parameter specified
- C. summary of aged transactions
- D. customer's profile for each assigned customer
- E. status of processing activities from the Process Monitor
Answer: A
Explanation:
References:
NEW QUESTION 43
Which two statements are true about Accounting for Tax on Receivables? (Choose two.)
- A. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables derive the tax account from auto-accounting.
- B. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account that is defined on the receivable activity.
- C. 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.
- 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 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.
Answer: B,E
NEW QUESTION 44
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 Source
- C. Transaction Date
- D. Transaction Class
Answer: A
NEW QUESTION 45
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