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Free Oracle Financials Cloud 1z0-1056-22 Official Cert Guide PDF Download
NEW QUESTION # 90
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. Automatic Receipt Process
- B. Clear Receipts Automatically Process
- C. Lockbox Process
- D. Remittance Process
Answer: D
NEW QUESTION # 91
Your customer has a state tax of 20% and a city tax of 10% as non-inclusive tax rates that are applicable on a transaction line. Your invoice has two lines: Line1 with $600 USD and Line2 with $400 USD.
What will be the resulting tax and invoice amounts for your tax invoice?
- A. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,257.78 USD.
- B. state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 USD.
- C. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.
- D. state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD.
- E. state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.
Answer: E
NEW QUESTION # 92
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 credited for $50 USD.
- B. Unearned revenue will be credited for $100 USD.
- C. Earned revenue will be debited for $50 USD.
- D. Unearned revenue will be debited for $50 USD.
Answer: A
NEW QUESTION # 93
You are creating a remittance bank account for the factored with recourse bills receivable remittance receipt method.
Which bank account setup controls receipt application to short-term debt?
- A. lead days
- B. risk elimination days
- C. short-term debt clearing days
- D. collection days
- E. recall days
- F. clearing days
Answer: C
NEW QUESTION # 94
Which role provides access to Receivables - Revenue Adjustments Real Time OTBI Subject area?
- A. Accounts Receivable Specialist
- B. Accounts Receivable Manager
- C. Billing Specialist
- D. Revenue Manager
Answer: A
NEW QUESTION # 95
Which statement is true when you create an Implementation Project for Oracle Financials Cloud?
- A. You must plan your Implementation Project carefully because you cannot delete it or make changes later.
- B. The Implementation Project is preconfigured and cannot be deleted or changed.
- 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.
Answer: E
NEW QUESTION # 96
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 XML Invoicing Check Box for Relevant Transaction Classes
- B. Set Preferred Delivery Methods to Email
- C. Set Preferred Contact Method to XML
- D. Set Preferred Delivery Method to XML
- E. Select the Enable OAGIS 10.1 XML Format Check Box
Answer: A,C
NEW QUESTION # 97
A Billing Specialist creates an adjustment for an incorrect invoice that exceeds a user's approval limit.
What is the status of the adjustment?
- A. Approval Required
- B. Pending Research
- C. Forwarded for Approval
- D. Pending Approval
Answer: D
NEW QUESTION # 98
You are reviewing an invoice on the Review Transaction page. After clicking the Sales Credit subtab, you notice the following breakdown: Revenue Allocation and Nonrevenue Allocation.
What is a Nonrevenue Allocation?
- A. sales credit allocation based on billing corrections
- B. sales credit reversals due to credit memo creation
- C. additional incentive-based sales credits
- D. sales credits associated to deferred revenue
Answer: B
NEW QUESTION # 99
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 billing amount for all performance obligations in the customer contract
- B. the selling price for all performance obligations in the customer contract
- C. the extended SSP amounts for all performance obligations in the customer contract
- D. the SSP amounts for all performance obligations in the customer contract
- E. the allocated amount for all performance obligations in the customer contract
Answer: A
NEW QUESTION # 100
Where is the summary delinquency data displayed In the Collections Work Area?
- A. Transactions Tab
- B. Profile Tab
- C. Aging Tab
- D. History Tab
Answer: C
NEW QUESTION # 101
Each time that you run AutoInvoice, the process generates a list of records that fail validation.
Which two ways allow you to display AutoInvoice errors in an Excel workbook? (Choose two.)
- A. using the Incomplete Infotile
- B. using the Manage AutoInvoice Lines task
- C. using the Manage Transactions task
- D. using the Import Exceptions Infotile
Answer: B,C
NEW QUESTION # 102
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. Apply, reverse, or process the receipt.
- B. Search for open invoices on the Manage Transaction search page.
- C. Search for the information in the Review Customer Account Details user interface.
- D. Create an open debit memo.
Answer: C
NEW QUESTION # 103
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. 1%/10 Net 30 (USA Set), Net 45 (USA Set)
- B. Net 45 (Enterprise Set), Net 45 (USA Set)
- C. Net 30 (Enterprise Set), Net 45 (USA Set)
- D. Net 30 (Enterprise Set), Net 45 (Enterprise Set)
Answer: D
NEW QUESTION # 104
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 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 <Business Unit>" data role to the employee.
- B. 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.
- C. Set the "Transaction Tax Line Override" profile option to Yes for the selected employee and assign the employee the "Tax Manager <Business Unit>" data role.
- D. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable invoice event and set the "Transaction Tax Line Override" profile option to Yes for the selected employee.
- E. 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 <Business Unit>" data role.
Answer: C
NEW QUESTION # 105
Which minimum Customer setup is required to create a receivables transaction?
- A. one customer account with two sites: one with a bill-to business purpose and the other with a ship-to business purpose
- B. one customer account and one customer site with a ship-to site business purpose
- C. one customer account without any customer site
- D. one customer account and one customer site with a bill-to site business purpose
Answer: D
NEW QUESTION # 106
Which two statements are true regarding the Promise to Pay feature in the Collections application?
- A. You cannot cancel a promise made in error if it is before the promise due date.
- B. Promise information is updated by scheduling the Promise Reconciliation process.
- C. You can cancel a promise made in error if it is before the promise due date.
- D. Mass promise to pay amounts automatically become partial payments.
Answer: D
NEW QUESTION # 107
After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the Transactions window.
What are three results of this action? (Choose three.)
- A. The invoice can now be printed.
- B. The invoice is sent for a dunning follow-up.
- C. Payment schedules are created using the payment terms specified.
- D. The invoice is eligible for transfer to the General Ledger.
- E. The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.
Answer: A,C,D
NEW QUESTION # 108
Which two duties are included in the Accounts Receivable Specialist associated role? (Choose two.)
- A. Payment Settlement Management Duty
- B. Receipt Creation Duty
- C. Trading Community Hierarchy Management Duty
- D. Import Payables Invoices Duty
Answer: A,D
NEW QUESTION # 109
What validation step is required for implementing dispute processing?
- A. BPM Work List for approval configuration is validated.
- B. The Recognize Revenue Program is scheduled.
- C. Periods for which the transaction can be disputed are Open.
- D. All transactions are of the invoice type.
Answer: A
NEW QUESTION # 110
You have created two transactions with a 30-day payment term. The first transaction is on January 29, 2015 and the second transaction is on January 31, 2015. The invoice date is the same as the system date. Both transactions are assigned an unsigned receipt method that has the lead days set to 60, number of bills receivable rule set to one per customer, and the bills receivable maturity date rule set to latest.
Which statement is true when the create bills receivable batch is processed for a customer on January 31, 2015?
- A. Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31, 2015.
- B. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February 28, 2015.
- C. Two Bills Receivable transactions are created with the issue date and accounting date as January 29, 2015 and January 31, 2015, respectively.
- D. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2, 2015.
- E. Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015.
- F. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 30, 2015.
Answer: E
NEW QUESTION # 111
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 Account Number, Customer Site Number
- B. Customer Name, Customer Billing Address, Customer Bank Account
- C. Customer Number, Customer Billing Address, Customer Bank Account
- D. Customer Number, Customer Account Number, Customer Site Number
Answer: D
NEW QUESTION # 112
Which is NOT a valid Infotile in the Accounts Receivables Work Area?
- A. Unapplied Receipts
- B. Unidentified Receipts
- C. Unapplied Credits
- D. Lockbox Exceptions
- E. Receipt Batches
Answer: B
NEW QUESTION # 113
The Billing Manager has navigated to the Billing Work Area to review incomplete transactions.
Which link on the Incomplete Infotile will provide detailed information on the most recent incomplete transactions?
- A. 0-10 Days Link
- B. 0-5 Days Link
- C. 20+ Days Link
- D. 10+Days Link
Answer: A
NEW QUESTION # 114
Which two are rules applicable to issue of refunds? (Choose two.)
- A. You can refund receipts that are factored.
- B. You can refund receipts that were either remitted or cleared.
- C. You can issue a credit card refund to a customer who has made a cash payment.
- D. You cannot refund more than either the original receipt amount or the remaining unapplied amount.
Answer: B,D
NEW QUESTION # 115
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Oracle 1z0-1056-22 exam is a comprehensive exam that covers various topics, including configuring and managing customer accounts, creating invoices, applying payments, managing adjustments and write-offs, and performing various other receivables-related tasks. 1z0-1056-22 exam consists of 60 multiple-choice questions that must be completed within 105 minutes. 1z0-1056-22 exam is available in various languages, including English, Japanese, and Simplified Chinese. The Oracle 1z0-1056-22 certification is valid for two years, after which the candidate must recertify to maintain their certification status.
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