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Note! 1z0-1056-22 has been withdrawn. The new exam code is 1z0-1056-23

1z0-1056-22 Practice Exam Questions with Answers Oracle Financials Cloud: Receivables 2022 Implementation Professional Certification

Question # 6

Three salespersons are assigned to a transaction line with a revenue split of 40:50:10. If you transfer 5% to a new sales person, what is the new revenue splitbetween the four sales persons?

A.

38.34 : 48.34 : 8.32 : 5

B.

35: 45 : 5: 5

C.

38: 47.5: 9.5: 5

D.

40: 50: 5: 5

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Question # 7

Identify two credit memo options. (Choose two.)

A.

Tax only

B.

Advance

C.

Paid freight

D.

Invoice lines

E.

Paid amount only

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Question # 8

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

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Question # 9

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 credits associated to deferred revenue

B.

sales credit allocation based on billing corrections

C.

sales credit reversals due to credit memo creation

D.

additional incentive-based sales credits

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Question # 10

What is the initial status of a newly created bill receivable?

A.

Pending posting

B.

Awaiting approval

C.

New

D.

Awaiting submission

E.

Pending remittance

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Question # 11

Which two are Late Charge Calculation Methods?

A.

Credit Items and Disputed Transactions

B.

Late Payments Only

C.

Adjustment

D.

Overdue Invoices Only

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Question # 12

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 the adjustment activity and retrieve the tax rate code.

D.

Receivables can look at System Options and retrieve the tax rate code.

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Question # 13

The Business Intelligence repository contains metadata that defines columns, which you caninclude in an analysis.

Which three types of columns are available when you create or edit an analysis? (Choose three.)

A.

Hierarchy

B.

Function

C.

Fact

D.

Attribute

E.

Sum

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Question # 14

A company’s policy is always to apply customer payments to debit and credit items, starting with the oldest due date.

Which function should you include in the default Auto-cash rule?

A.

Clear the past due invoices grouped by payment terms

B.

Clear the account

C.

Match payment with Invoice

D.

Apply to the oldest invoice first

E.

Clear past due invoices

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Question # 15

As an implementer, while importing data from the legacy/third-party system, you forgot to populate the accountingdistribution in the RA_INTERFACE_DISTRIBUTIONS_ALL table.

What happens when you run accounting?

A.

It will return an error and the data will be stuck in the interface table.

B.

Neither invoice nor accounting will be created.

C.

Invoice will get created but accounting won’t be created.

D.

Invoice will be created and the system will use auto accounting configuration to create accounting.

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Question # 16

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.

receipts creation in a spreadsheet

C.

manual receipt entry

D.

Lockbox receipts creation

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Question # 17

You are configuring tax for Receivables to cash transactions.

Which two additional Party types can be selected only in the Tax engine for Receivables Transactions to identify the place of supply? (Choose two.)

A.

Ship-to party

B.

Ship-from party

C.

Point of origin party

D.

Point of acceptance party

E.

Bill-to party

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Question # 18

You created a bills receivable that is factored with recourse and applied a wrong receipt to the short-term debt before the bill maturity date plus the risk elimination days.

Which actions are true? (Choose two.)

A.

If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Protested.

B.

If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Hold.

C.

If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.

D.

If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to PendingRemittance.

E.

If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Unpaid.

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Question # 19

You are a functional user who has been tasked with creating an Oracle Transactional Business Intelligence (OTBI) analysis. You are still learning how to use OTBI, and the analysis you need to create is not complex.

Which two tools should you use to create this analysis? (Choose two.)

A.

Report Builder

B.

Visual Builder add on to Excel

C.

Answers

D.

BI Composer

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Question # 20

When deciding how to set up the system to recognize revenue, it isimportant 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.

Time-based contingenciescan expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.

B.

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.

C.

Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.

D.

Time-based contingencies must not expire before the contingency can be removed and revenue recognized.

E.

Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.

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Question # 21

How can a Collector assigned to a Customer modify a strategy that is assigned from the Collections Dashboard?

A.

A strategy is automatically assigned based on Scoring and cannot be manually assigned to a Customer by a Collector.

B.

Onlya Collections Administrator can modify the strategy.

C.

The Collector can modify the strategy from the Profile > Strategies tab.

D.

The strategy can be modified from the Manage Customers page.

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Question # 22

The Multifund Accounting feature supports detailed distributions for invoices with revenue recognition rules. For a customer invoice with the distributions below:

1z0-1056-22 question answer

Which unearned revenue accounting entries will the feature generate?

A.

Credits of $900 and $600 for companies 01 and 02 respectively

B.

Credits of $900 and $500 for companies 01 and 02 respectively

C.

Debit of $900 and credit of $500 for companies 01 and 02 respectively

D.

Credit of $900 and debit of $500 for companies 01 and 02 respectively

E.

Debits of $900 and $500 for companies 01 and 02 respectively

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