100% Pass Top-selling 1Z0-1056-20 Exams - New 2021 Oracle Pratice Exam
Oracle Financials Cloud Dumps 1Z0-1056-20 Exam for Full Questions - Exam Study Guide
NEW QUESTION 58
In the customer hierarchy of Customer Corporation, Customer Worldwide is the parent company of Customer USA and Customer Japan. Customer West is a subsidiary of Customer USA.
Which three statements are true if the Customer Corporation hierarchy is assigned to a Pay Below Paying relationship? (Choose three.)
- A. Customer USA can pay for Customer West and its own transactions.
- B. Customer Japan can pay for Customer West, Customer USA, and its own transactions.
- C. Customer USA can pay for Customer Worldwide, Customer West, and its own transactions.
- D. Customer Japan can pay its own transactions.
- E. Customer Worldwide can pay for Customer USA, Customer Japan, Customer West, and its own transactions.
Answer: A,B,D
NEW QUESTION 59
Identify the receivables system option that relates to customers.
- A. Default Country
- B. Reciprocal Customer
- C. Receipt Method
- D. Automatic Site Numbering
Answer: A,C
NEW QUESTION 60
Which statement is true about Balance Forward Billing?
- A. Balance Forward Bills must be enabled at each bill-to-site level.
- B. The Balance Forward Bill of a previous cycle need not be generated as Final to generate the Balance Forward Bill of the current cycle.
- C. Transactions included on a Balance Forward Bill can be updated.
- D. Balance Forward Bills can be created for a future date.
Answer: A
NEW QUESTION 61
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. Remittance Process
- B. Clear Receipts Automatically Process
- C. Automatic Receipt Process
- D. Lockbox Process
Answer: A
NEW QUESTION 62
What are the three drilldown options available in the task pane for Receipt Remittance? (Choose three.)
- A. Create Receipt Remittance Batch
- B. Manage Receipt Remittance Batches
- C. Lockbox Transmission History
- D. Create Automatic Receipts
- E. Correct Funds Transfer Errors
Answer: A,B,D
NEW QUESTION 63
Which two are Late Charge Calculation Methods?
- A. Adjustment
- B. Overdue Invoices Only
- C. Credit Items and Disputed Transactions
- D. Late Payments Only
Answer: B,D
Explanation:
https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_9F953CFFF569FA73E040D30A688151DC
NEW QUESTION 64
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 45 (Enterprise Set), Net 45 (USA Set)
- B. Net 30 (Enterprise Set), Net 45 (Enterprise Set)
- C. 1%/10 Net 30 (USA Set), Net 45 (USA Set)
- D. Net 30 (Enterprise Set), Net 45 (USA Set)
Answer: B
NEW QUESTION 65
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 Real Time Report by using Oracle Transactional Business Intelligence (OTBI).
- B. Create a Business Intelligence Publisher Report because you cannot create an OTBI Report for refunds.
- C. Query each customer refund and verify the Refund Status.
- D. Create an Oracle Business Intelligence Applications (OBIA) Report.
Answer: A
NEW QUESTION 66
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 credit memo line
- B. a debit memo line
- C. an inventory item
- D. a purchasing item
- E. a standard memo line
Answer: C,E
NEW QUESTION 67
Identify two values that default from Customer Profile Classes. (Choose two.)
- A. Tax
- B. Legal Entity
- C. Business Purpose
- D. Statement Cycle
- E. Payment Terms
Answer: A,E
NEW QUESTION 68
Which three benefits do intercompany reconciliation reports provide to an accountant?
- A. Displaying clearing company balancing lines.
- B. Displaying intercompany receivables and payables balancing lines.
- C. Comparing receivables and payables account balances and identifying discrepancies.
- D. Identifying transaction portions (either receiver or provider side) that have not posted to General Ledger.
Answer: B,C,D
NEW QUESTION 69
Which is NOT a valid Infotile in the Accounts Receivables Work Area?
- A. Receipt Batches
- B. Unapplied Receipts
- C. Unapplied Credits
- D. Lockbox Exceptions
- E. Unidentified Receipts
Answer: E
NEW QUESTION 70
You are utilizing the "Upload Customer From Spreadsheet" option. What information on the Customer Worksheet must be unique for each customer record?
- A. Customer Name, Customer Billing Address, Customer Bank Account
- B. Customer Number, Customer Account Number, Customer Site Number
- C. Customer Name, Customer Account Number, Customer Site Number
- D. Customer Number, Customer Billing Address, Customer Bank Account
Answer: B
NEW QUESTION 71
If the Contract Identification Rules that you defined for your customer did not group the source data into customer contracts as expected, how would you resolve the issue?
- A. Delete the performance obligations from the relevant contracts through the Manage Customer Contracts UI.
- B. Delete Contracts from the Manage Customer Contracts UI.
- C. Run the Discard Customer Contracts program for the relevant contracts, define a new, higher-priority Contract Identification Rule, and run the Identify Customer Contracts program again.
- D. Run the Discard Customer Contracts program for the relevant contracts and run the Identify Customer contracts program again.
- E. Delete the source data that was imported into Revenue Management and import new source data.
Answer: C
NEW QUESTION 72
There are a few customers that you do not want to send dunning letters to.
How would you exclude these customers from dunning?
- A. Disable Send Dunning Letter on the Correspondence tab.
- B. Disable Send Dunning Letter in Transaction Type.
- C. Disable Send Dunning Letter on the Profile tab.
- D. Disable Send Dunning Letter in Collections Preferences.
- E. Disable Send Dunning Letter in Transaction Source Type.
Answer: C
NEW QUESTION 73
Which two setups are required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices? (Choose two.)
- A. The payable options and the receivable system options should have the same tax application options.
- B. Intercompany system options enable use of the same tax rate code for the payable and receivable invoices.
- C. Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.
- D. Tax for intercompany is loaded by using Create Taxable Transactions in Spreadsheet.
- E. First enter a payable transaction to calculate tax and then enter the receivable transaction.
- F. Ensure if any tax-specific rules that are defined should cover both the sales_transaction and purchase_transaction business category.
Answer: A,C
NEW QUESTION 74
In what three ways will changing customer information impact the collection process? (Choose three.)
- A. Business-unit-level changes will not impact the display of delinquent customers on the dashboard.
- B. Adding or modifying customer contact name on the Contacts tab impacts where the correspondence is sent.
- C. Making changes on the Profile tab impacts the collection process.
- D. Changing information on the Profile tab does not have an impact on the level at which collections are done.
- E. Changing the Collector impacts the individual working with the delinquent customer.
Answer: B,C,E
NEW QUESTION 75
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 use the tax account of the tax code.
- 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 Yes, Receivables derive the item distribution from the invoice and the tax account from auto-accounting.
- 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 Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to No, Receivables derive the tax account from auto-accounting.
- F. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables derive the tax account from auto-accounting.
Answer: B,C
NEW QUESTION 76
Which two items are required for customer invoicing? (Choose two.)
- A. Remit-to-address
- B. Customers
- C. Customer Profile Class
- D. Lockbox
Answer: C,D
NEW QUESTION 77
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