1Z0-1056-22 Online Practice Questions and Answers

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 per due date

B. One per Customer

C. One per site per due date

D. One per invoice

A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the remaining balance on openinvoices, but some of the amounts have exceeded the Billing Specialist's approval limits. What would be the result?

A. The program creates the adjustments with a status of Pending Approval for the amount that exceeds 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 programcreates the adjustments only for the amounts within the Billing Specialist's approval limits.

After a customer bankruptcy is approved, what happens in the Collections application?

A. Collection activities are suspended, delinquent transactions nolonger appear on the Collections Work Area and customer status is changed to Bankrupt.

B. Collection activities remain active, delinquent transactions appear in the Collections Work Area but customer status is changed to Bankrupt.

C. Collection activitiesare suspended and delinquent transactions appear in the Collections Work Area.

D. The Bankrupt Customer Collection job is automatically submitted to close all open transactions for the customer.

Which four output file types are available when you run the "Print Receivables Transactions" program?

A. JPG

B. PDF

C. Excel

D. HTML

E. Word

F. Zipped PDFs

Which role provides access to Receivables ?Revenue Adjustments Real Time OTBI Subject area?

A. Revenue Manager

B. Accounts Receivable Manager

C. Accounts Receivable Specialist

D. BillingSpecialist

Your customer upload batch completes with an error and you identify the error as being due to incorrect payment method.

Which action should you take the resolve the Issue?

A. Use the Customer Data Exceptions spreadsheet.

B. Use the Customer Payment Method Exceptions spreadsheet.

C. Troubleshoot Inthe Manage Customers page.

D. Correct error and resubmit the batch.

What are the three setup steps required to implement the Lockbox feature? (Choose three.)

A. Receipt Classes and Receipt Methods

B. late charges

C. Lockbox and Lockbox Transmission Formats

D. Receipt Sources

E. credit card refunds

Your customer wants to override the calculated tax line amount for their receivable transaction.

What steps should the customer perform to ensure that only one of their employees has this privilege?

A. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable invoice event and grant the employee the "Tax Manager " data role.

B. Enable the "Allow tax rate override" and "Allow manual tax lines" profiles at the user level, set, the value to Yes for the selected employee, and grant the "Tax Manager " data role to the employee.

C. Enable "Allow override of calculated tax lines" within the tax configuration owner options forthe receivable invoice event and set the "Transaction Tax Line Override" profile option to Yes for the selected employee.

D. Set the "Transaction Tax Line Override" profile option to Yes for the selected employee and assign the employee the "Tax Manager " data role.

E. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable application and create a tax rule to grant this privilege only to the selected employee.

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. Receipt Method

B. AutoMatch Rule

C. Customer

D. System Options

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 debited for $50 USD.

B. Unearned revenue willbe credited for $100 USD.

C. Earned revenue will be credited for $50 USD.

D. Unearned revenue will be debited for $50 USD.

Company ABC wants their logo displayed in all customer invoices. How do you meet this business requirement?

A. Use Web Services to integrate with an external system that can handle this requirement.

B. Modify theInvoice Print Layout Bill Presentment Template.

C. Enable the setting "Allow Change to Printed Transactions" in Receivables System Options.

D. Extend the "Print Receivables Transactions" program.

Your client processes many customer refunds on a regular basis and would like to have information about recent refunds (including their status) for analytical purposes.

What should you do to meet this requirement in an efficient manner?

A. Create an Oracle Transactional Business Intelligence (OTBI) analysis.

B. Search in the Receivables "Manage Credit Memo Applications" page, then export results to Excel.

C. Run the predefined Transaction Details Report.

D. Search in the Payables "Manage Payments" page, then export results to Excel.

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: $1000, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 28-Feb 2020

B. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 20-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: $800, Payment terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 28-Feb-2020

What validation step is required for implementing dispute processing?

A. The Recognize Revenue Program is scheduled.

B. BPM Work List for approval configuration is validated.

C. Periods for which the transaction can be disputedare Open.

D. All transactions are of the invoice type.

As a Billing Manager you are responsible for reviewing adjustments and approving them. Which action is not available in the "ApproveAdjustments" page?

A. Approve

B. Request Information

C. Reassign

D. Reject

E. Edit