[2023] Valid 1z0-1056-22 test answers & Oracle 1z0-1056-22 exam pdf
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Oracle 1z0-1056-22 certification exam is designed for professionals who want to showcase their skills and knowledge in Oracle Financials Cloud: Receivables 2022 Implementation. 1z0-1056-22 exam is intended to validate the candidate's understanding of the implementation and management of Oracle Financials Cloud: Receivables 2022. Oracle Financials Cloud: Receivables 2022 Implementation Professional certification covers topics such as managing receivables, creating and managing transactions, managing customer accounts, and reporting.
Oracle Financials Cloud: Receivables 2022 Implementation Professional certification is ideal for individuals who are working as consultants, implementation specialists, or support engineers for Oracle Financials Cloud: Receivables. Oracle Financials Cloud: Receivables 2022 Implementation Professional certification enables them to demonstrate their expertise in implementing and configuring the application and helps them to enhance their career growth opportunities.
NEW QUESTION # 59
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 (USA Set)
- C. 1%/10 Net 30 (USA Set), Net 45 (USA Set)
- D. Net 30 (Enterprise Set), Net 45 (Enterprise Set)
Answer: D
NEW QUESTION # 60
To meet the business needs of most organizations, "Common Set" is seeded InFusion for all set-enabled objects with the exception of _________________.
- A. Aging Methods
- B. AutoCash Rules
- C. Revenue Scheduling Rules
- D. AutoMatch Rule Sets
- E. Customer Site
Answer: E
NEW QUESTION # 61
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. Create an open debit memo.
- B. Search for open invoices on the Manage Transaction search page.
- C. Apply, reverse, or process the receipt.
- D. Search for the information in the Review Customer Account Details user interface.
Answer: D
NEW QUESTION # 62
When importing Receivable transactions into Fusion Receivables, the Autoinvoice log gives the error message "Error: Item validation org not set up for the BU." What action should you take to solve the issue?
- A. Set up Item validation organization in Inventory Org.
- B. Validate the Item validation organization in inventory Org.
- C. Set up Item validation organization in Inventory Item.
- D. Set up Item validation organization in Receivables System Options.
Answer: D
NEW QUESTION # 63
Which two statements are true about processing Receivables adjustments that impact tax amounts?
- A. Receivables can look at invoice and retrieve the tax rate code.
- B. There is no need to retrieve the tax rate code.
- C. Receivables can look at System Options and retrieve the tax rate code.
- D. Receivables can look at the adjustment activity and retrieve the tax rate code.
Answer: A,C
NEW QUESTION # 64
What is the initial status of a newly created bill receivable?
- A. New
- B. Awaiting approval
- C. Awaiting submission
- D. Pending remittance
- E. Pending posting
Answer: D
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 Business Intelligence Publisher Report because you cannot create an OTBI Report for refunds.
- B. Create a Real Time Report by using Oracle Transactional Business Intelligence (OTBI).
- C. Query each customer refund and verify the Refund Status.
- D. Create an Oracle Business Intelligence Applications (OBIA) Report.
Answer: B
NEW QUESTION # 66
What is the order used to group transaction lines during the AutoInvoice Import process?
- A. Transaction Source, Customer Site Profile, Customer Account Profile, system options
- B. System options, Customer Site Profile, Transaction Source, Customer Account Profile
- C. Transaction Source, Customer Account Profile, system options, Customer Site Profile
- D. Transaction Source, Customer Account Profile, Customer Site Profile, system options
Answer: A
NEW QUESTION # 67
As an implementer, while importing data from the legacy/third-party system, you forgot to populate the accounting distribution in the RA_INTERFACE_DISTRIBUTIONS_ALL table.
What happens when you run accounting?
- A. Invoice will be created and the system will use auto accounting configuration to create accounting.
- B. Invoice will get created but accounting won't be created.
- C. It will return an error and the data will be stuck in the interface table.
- D. Neither invoice nor accounting will be created.
Answer: A
NEW QUESTION # 68
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. Forwarded for Approval
- B. Pending Research
- C. Approval Required
- D. Pending Approval
Answer: D
NEW QUESTION # 69
What is required to register an external user to Bill Management?
- A. a customer account contact with the responsibility types bill to and ship-to
- B. a customer account contact with a valid email address
- C. a customer account contact with a valid mobile number
- D. a customer account contact with a valid mailing address
Answer: A
NEW QUESTION # 70
Identify a valid reason for a Collector being unable to enter a dispute against a particular transaction.
- A. The transaction is partially paid.
- B. The transaction type is not associated with a credit memo type.
- C. The transaction is an invoice.
- D. The transaction date falls in a closed period.
- E. The invoice is not closed.
Answer: B
NEW QUESTION # 71
You entered an invoice of $12500 in the receivable and created a receipt with the amount $15000 received from the customer.
How will the system react if over application is enabled in transaction type while receipt is applied to the invoice?
- A. Invoice balance is displayed as -2500.
- B. Invoice balance is played as 0 and On account receipt is created with 2500.
- C. Invoice balance is displayed as 0 and Miscellaneous receipt is created with 2500.
- D. Invoice balance is displayed as 0.
Answer: A
NEW QUESTION # 72
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. automatic receipts creation
- B. manual receipt entry
- C. receipts creation in a spreadsheet
- D. Lockbox receipts creation
Answer: C
NEW QUESTION # 73
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 maturity dates as March 30, 2015 and April 1, 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 dates as January 29, 2015 and January 31, 2015.
- D. Two Bills Receivable transactions are created with the issue date and accounting date as January 29, 2015 and January 31, 2015, respectively.
- E. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2, 2015.
- F. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 30, 2015.
Answer: A
NEW QUESTION # 74
When deciding how to set up the system to recognize revenue, it is important to understand the extent of revenue deferral and the subsequent timing of revenue recognition.
Which two statements are true when you consider that recognition depends on the nature of the contingency? (Choose two.)
- A. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.
- B. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.
- C. Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.
- D. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
- E. Time-based contingencies must not expire before the contingency can be removed and revenue recognized.
Answer: A,D
NEW QUESTION # 75
Where is the summary delinquency data displayed on the Collections Dashboard?
- A. Aging tab
- B. Profile tab
- C. Correspondence tab
- D. Activity tab
Answer: B
NEW QUESTION # 76
Given the default system options:
Which two instances are you required to select for the - require salesperson flag? (Choose two.)
- A. FBDI Loader is required
- B. Revenue accounting is required
- C. Auto-Invoicing is required
- D. Sales credit tracking is required
Answer: B,D
NEW QUESTION # 77
You have been challenged by the Implementation team to configure AutoAccounting for the Revenue Account Type.
From which three tables can the segment value be defaulted? (Choose three.)
- A. Standard Lines
- B. Taxes
- C. Ship to site
- D. Transaction Types
- E. Salesperson
Answer: A,B,E
NEW QUESTION # 78
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Oracle 1z0-1056-22 certification exam is a valuable credential that can enhance your career prospects and demonstrate your expertise to potential employers. It is a great way to validate your skills and knowledge in the field of Oracle Financials and can open up new opportunities for career advancement. With this certification, you can demonstrate your commitment to professional development and your ability to work with one of the most popular cloud-based financial solutions in the market.
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