[Aug 14, 2022] Get New 1z0-1056-22 Certification – Valid Exam Dumps Questions
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NEW QUESTION 23
Your client's legacy system uses a hierarchical parent/child relationship to organize customer information because a single customer may have more than one bank account or payment method.
Does this prevent you from using the Oracle Fusion Trading Community Model Data Import program?
- A. The use of parent, child, and grandchild table hierarchies is allowed only in Accounts Payable, not Accounts Receivable.
- B. Yes; the program specifically prohibits parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
- C. The program allows the use of parent, child, and grandchild table hierarchies, but it requires multiple Customer Master records for each customer within the hierarchy.
- D. The program allows table hierarchies for customer bank accounts, but not for other customer information.
- E. No; the program contains parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
Answer: B
NEW QUESTION 24
After creating Receivable Activities using the General Ledger Rapid Implementation workbook upload process, a Receivable Manager wants to review and make changes if required, to the account assignments created for these Receivable Activities.
Which two Receivable Activities do not have account assignments to review and change? (Choose two.)
- A. Debit Memo Reversal
- B. Earned Discounts
- C. Unearned Discounts
- D. Miscellaneous Receipt
- E. Adjustment Activities
Answer: D,E
NEW QUESTION 25
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. Function
- B. Hierarchy
- C. Sum
- D. Fact
- E. Attribute
Answer: B,D,E
NEW QUESTION 26
You created an Auto cash Ruleset where the first rule to be applied to receipts is Match Payments with Invoice. Discount = Earned Only, Late charges = NO, Receipt = $900, Receipt date = 14-Feb-2020, Discount Grace Days = 5.
Which transaction will be applied to the receipt?
- A. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 20-Feb-2020
- B. Invoice Amount: $800, Payment terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 28-Feb-2020
- C. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 24-Feb-2020
- D. Invoice Amount: $1000, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 28-Feb 2020
Answer: A
NEW QUESTION 27
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. System Options
- B. Customer
- C. AutoMatch Rule
- D. Receipt Method
Answer: A,B
NEW QUESTION 28
You have been asked to assign a reference data set to a specific Business Unit for several Receivable setups.
What are the navigational steps needed to accomplish this task?
- A. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Financial Reporting Structures"/Task: "Manage Business Unit Set Assignment"
- B. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Organization Structures"/Task: "Manage Business Unit Set Assignment"
- C. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Legal Structures"/Task: "Manage Business Unit Set Assignment"
- D. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Receivables"/Task: "Manage Business Unit Set Assignment"
Answer: D
NEW QUESTION 29
The process of remitting receipts to a bank results in fund transfer errors.
Identify three corrective actions to resolve this. (Choose three.)
- A. credit reversal
- B. debit memo reversal
- C. receipt reversal
- D. change of instrument
- E. clearing payment information
Answer: C,D,E
NEW QUESTION 30
What is the initial status of a newly created bill receivable?
- A. Awaiting approval
- B. Awaiting submission
- C. Pending remittance
- D. Pending posting
- E. New
Answer: C
NEW QUESTION 31
Which two items are required for customer invoicing? (Choose two.)
- A. Customer Profile Class
- B. Lockbox
- C. Customers
- D. Remit-to-address
Answer: A,B
NEW QUESTION 32
Three salespersons are assigned to a transaction line with a revenue split of 40:50:10. If you transfer 5% to a new sales person, what is the new revenue split between the four sales persons?
- A. 38: 47.5: 9.5: 5
- B. 38.34 : 48.34 : 8.32 : 5
- C. 40: 50: 5: 5
- D. 35: 45 : 5: 5
Answer: C
NEW QUESTION 33
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. Clear the past due invoices grouped by payment terms
- B. Apply to the oldest invoice first
- C. Match payment with Invoice
- D. Clear the account
- E. Clear past due invoices
Answer: B
NEW QUESTION 34
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. Define intercompany approval rule, to automatically reject intercompany transactions that do not meet the minimum amount requirement.
- B. Set "Minimum Transaction Amount" to 3,000 and "Minimum entered Currency" to USD.
- C. Set "Minimum Invoice Amount" to 3,000 and "Invoice Currency" to USD in Payables Invoice Options and Receivables System Options.
- D. Set "Minimum Transaction Amount" to 2,999.99 and "Minimum Entered Currency" to ALL
Answer: C
NEW QUESTION 35
The method that is used to capture receipts data in mass while you are offline and upload the receipts at a later date is called ______________.
- A. Lockbox receipts creation
- B. manual receipt entry
- C. receipts creation in a spreadsheet
- D. automatic receipts creation
Answer: C
NEW QUESTION 36
Identify a valid reason for a Collector being unable to enter a dispute against a particular transaction.
- A. The invoice is not closed.
- B. The transaction date falls in a closed period.
- C. The transaction type is not associated with a credit memo type.
- D. The transaction is partially paid.
- E. The transaction is an invoice.
Answer: C
NEW QUESTION 37
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. Mapping Set
- B. Supporting References
- C. Transaction References
- D. Description Rule
Answer: B
NEW QUESTION 38
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. You need to submit the Extract Intercompany Reconciliation Data job.
- C. The Clearing Company Balancing Lines appear in the Intercompany Reconciliation Summary Report.
- 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
NEW QUESTION 39
Which three transaction types are used to generate late charges? (Choose three.)
- A. Cash Receipts
- B. Credit Memo
- C. Interest Invoice
- D. Debit Memo
- E. Adjustments against the original transaction
Answer: B,C,E
Explanation:
Reference: https://docs.oracle.com/cloud/latest/financialscs_gs/FAIRP/FAIRP1476421.htm
NEW QUESTION 40
What are the three setup steps required to implement the Lockbox feature? (Choose three.)
- A. Receipt Classes and Receipt Methods
- B. credit card refunds
- C. Lockbox and Lockbox Transmission Formats
- D. late charges
- E. Receipt Sources
Answer: A,C,E
NEW QUESTION 41
Which minimum Customer setup is required to create a receivables transaction?
- A. one customer account and one customer site with a bill-to site business purpose
- B. one customer account with two sites: one with a bill-to business purpose and the other with a ship-to business purpose
- C. one customer account and one customer site with a ship-to site business purpose
- D. one customer account without any customer site
Answer: A
NEW QUESTION 42
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