1Z0-1056-21 Online Practice Questions and Answers

Which two items are required for customer invoicing? (Choose two.)

A. Lockbox

B. Customers

C. Remit-to-address

D. Customer Profile Class

Which two determinant types are used in reference data assignment? (Choose two.)

A. Business Unit

B. Account Segment

C. Project Segment

D. Project unit

When reversing a receipt, if an adjustment or chargeback exists, how are the off-setting adjustments created?

A. manually, but without using the Adjustment Reversal and Chargeback Reversal activities

B. automatically, but without using the Adjustment Reversal and Chargeback Reversal activities

C. automatically by using the Adjustment Reversal and Chargeback Reversal activities

D. manually by using Chargeback Reversal activities

E. manually by using Adjustment Reversal activities

What are the three drilldown options available in the task pane for Receipt Remittance? (Choose three.)

A. Lockbox Transmission History

B. Create Automatic Receipts

C. Correct Funds Transfer Errors

D. Create Receipt Remittance Batch

E. Manage Receipt Remittance Batches

A customer calls the Accounts Receivables department and asks for the balance of all invoices that are

due in the next 30 days. The customer also has a question about a specific invoice line.

As a Billing Specialist, which action would you take?

A. Search for the information in the Review Customer Account Details user interface.

B. Apply, reverse, or process the receipt.

C. Create an open debit memo.

D. Search for open invoices on the Manage Transaction search page.

Which two duties are included in the Accounts Receivable Specialist associated role? (Choose two.)

A. Import Payables Invoices Duty

B. Receipt Creation Duty

C. Trading Community Hierarchy Management Duty

D. Payment Settlement Management Duty

What do you need to total in order to find the total transaction price for a customer contract that is calculated by Revenue Management?

A. the extended SSP amounts for all performance obligations in the customer contract

B. the SSP amounts for all performance obligations in the customer contract

C. the selling price for all performance obligations in the customer contract

D. the allocated amount for all performance obligations in the customer contract

E. the billing amount for all performance obligations in the customer contract

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. a standard memo line

B. a purchasing item

C. a credit memo line

D. an inventory item

E. a debit memo line

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. Create a new reference data set for account addresses and assign it to the business units.

B. Assign a COMMON reference data set to the business units, which share the account addresses.

C. Assign an enterprise reference data set to the business units, which share the account addresses.

D. Create a separate reference data set for each business unit and assign it to each unit.

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. Create a Business Intelligence Publisher Report because you cannot create an OTBI Report for refunds.

B. Create an Oracle Business Intelligence Applications (OBIA) Report.

C. Query each customer refund and verify the Refund Status.

D. Create a Real Time Report by using Oracle Transactional Business Intelligence (OTBI).

Which statement is true about Balance Forward Billing?

A. Balance Forward Bills must be enabled at each bill-to-site level.

B. Balance Forward Bills can be created for a future date.

C. Transactions included on a Balance Forward Bill can be updated.

D. The Balance Forward Bill of a previous cycle need not be generated as Final to generate the Balance Forward Bill of the current cycle.

Which statement is true when you create an Implementation Project for Oracle Financials Cloud?

A. The Implementation Project is preconfigured and cannot be deleted or changed.

B. You must plan your Implementation Project carefully because you cannot delete it or make changes later.

C. You must select the offering "Financials" and each individual product or option to perform the setup for each product in Oracle Financials Cloud.

D. When you select the offering "Financials," it automatically allows you to perform the setup for all Oracle Financials Cloud products.

E. 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.

Which three interest rate calculation formula methods are supported in Receivables? (Choose three.)

A. Average

B. Flat Rate

C. Declining Balance

D. Simple

E. Compound

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, Contingency Primary Removal Event as Contingency Expiration, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.

B. 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.

C. Create a Revenue Contingency with Revenue Policy as None and Contingency Primary Removal Event as Payment.

D. Create a Revenue Contingency with Revenue Policy as Credit, Contingency Primary Removal Event as Milestone Billing, and Optional Removal Event as Fulfillment Date.

Which two initial tasks need to be completed in the Customer Account Profile page in order to generate and deliver XML invoices under the OAGIS (Open Applications Group Integration Specification) 10.1 format?

A. Select the Enable OAGIS 10.1 XML Format Check Box

B. Set Preferred Delivery Method to XML

C. Set Preferred Delivery Methods to Email

D. Set Preferred Contact Method to XML E. Select the Enable XML Invoicing Check Box for Relevant Transaction Classes