Released Oracle 1Z0-1056-21 Updated Questions PDF
1Z0-1056-21 Dumps and Practice Test (156 Exam Questions)
Oracle 1Z0-1056-21 Exam Syllabus Topics:
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NEW QUESTION 25
Identify two values that default from Customer Profile Classes. (Choose two.)
- A. Statement Cycle
- B. Business Purpose
- C. Legal Entity
- D. Payment Terms
- E. Tax
Answer: D,E
NEW QUESTION 26
What is the initial status of a newly created bill receivable?
- A. Pending remittance
- B. Awaiting submission
- C. Awaiting approval
- D. Pending posting
- E. New
Answer: A
NEW QUESTION 27
What are three functions of the Create Automatic Receipt Write-offs program? (Choose three.)
- A. scheduling periodic write-offs as receipt adjustments for old remaining balances
- B. scheduling periodic write-offs as receipt adjustments for small remaining balances
- C. limiting write-offs by a percentage of the original receipt amount
- D. creating write-offs for specific currencies and customers
- E. scheduling periodic write-offs to occur in future periods
Answer: B,C,D
Explanation:
References:
NEW QUESTION 28
The Multifund Accounting feature supports detailed distributions for invoices with revenue recognition rules. For a customer invoice with the distributions below:
Which unearned revenue accounting entries will the feature generate?
- A. Debits of $900 and $500 for companies 01 and 02 respectively
- B. Credit of $900 and debit of $500 for companies 01 and 02 respectively
- C. Debit of $900 and credit of $500 for companies 01 and 02 respectively
- D. Credits of $900 and $600 for companies 01 and 02 respectively
- E. Credits of $900 and $500 for companies 01 and 02 respectively
Answer: C
NEW QUESTION 29
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 Worldwide, Customer West, and its own transactions.
- B. Customer Worldwide can pay for Customer USA, Customer Japan, Customer West, and its own transactions.
- C. Customer Japan can pay its own transactions.
- D. Customer USA can pay for Customer West and its own transactions.
- E. Customer Japan can pay for Customer West, Customer USA, and its own transactions.
Answer: C,D,E
NEW QUESTION 30
Which two items are required for customer invoicing? (Choose two.)
- A. Customer Profile Class
- B. Customers
- C. Lockbox
- D. Remit-to-address
Answer: A,C
NEW QUESTION 31
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 $100 USD, and an invoice total of $1,300 USD.
- C. state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 USD.
- D. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.
- E. state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD.
Answer: B
NEW QUESTION 32
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 OAGIS 10.1 XML Format Check Box
- B. Set Preferred Contact Method to XML
- C. Set Preferred Delivery Method to XML
- D. Set Preferred Delivery Methods to Email
- E. Select the Enable XML Invoicing Check Box for Relevant Transaction Classes
Answer: B,E
NEW QUESTION 33
Debit Memo Reversal is a new receivable that replaces the item closed by the original receipt.
When should the Debit Memo Reversal method be used to reverse a receipt?
- A. You are reversing a Miscellaneous receipt.
- B. You are reversing a receipt that you previously applied to a chargeback and this chargeback was posted to your general ledger.
- C. You are reversing a receipt that you previously applied to a chargeback and this chargeback has had no activity (another receipt or credit memo or adjustment) against it.
- D. You are reversing a receipt that you previously applied to a chargeback and this chargeback was not accounted.
Answer: C
NEW QUESTION 34
Which statement is true about Balance Forward Billing?
- A. Transactions included on a Balance Forward Bill can be updated.
- B. Balance Forward Bills must be enabled at each bill-to-site level.
- C. Balance Forward Bills can be created for a future date.
- D. The Balance Forward Bill of a previous cycle need not be generated as Final to generate the Balance Forward Bill of the current cycle.
Answer: B
Explanation:
References:
NEW QUESTION 35
A Cloud customer requires enhanced message content in transactions delivered using email.
Which three are supported in the body of the message? (Choose three.)
- A. Insert logos.
- B. Modify the fonts and font size.
- C. Prevent use of Dynamic Tokens.
- D. Increase the character limit to greater than 4000.
- E. Insert hyperlinks.
Answer: A,B,E
NEW QUESTION 36
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: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 20-Feb-2020
- B. Invoice Amount: $1000, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 28-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
Answer: A
NEW QUESTION 37
Which statement is true about AutoAccounting?
- A. IfAutoAccounting cannot determine all the accounting flexfield segments, it derives what it can and displays an incomplete accounting flexfield.
- B. AutoAccounting is used to determine the default General Ledger accounts only for transactions that you import by using AutoInvoice.
- C. AutoAccounting is set up at the Legal Entity level.
- D. You cannot override the default General Ledger accounts thatAutoAccounting creates.
Answer: A
Explanation:
References:
NEW QUESTION 38
Which three receipts types can be reversed in the Cloud? (Choose three.)
- A. Receipts that are archived
- B. Receipts applied to open receipts
- C. Invoice-related receipts
- D. Credit card chargebacks posted to GL
- E. Miscellaneous receipts
Answer: C,D,E
NEW QUESTION 39
What information does the Collector see in the Activities List area of the Collections Dashboard?
- A. tasks assigned to the Collector, such as follow-up calls
- B. customer search as per the parameter specified
- C. summary of aged transactions
- D. customer's profile for each assigned customer
- E. status of processing activities from the Process Monitor
Answer: A
Explanation:
References:
NEW QUESTION 40
After a customer bankruptcy is approved, what happens in the Collections application?
- A. Collection activities are suspended, delinquent transactions no longer 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. The Bankrupt Customer Collection job is automatically submitted to close all open transactions for the customer.
- D. Collection activities are suspended and delinquent transactions appear in the Collections Work Area.
Answer: A
NEW QUESTION 41
When reversing a receipt, if an adjustment or chargeback exists, how are the off-setting adjustments created?
- A. automatically by using the Adjustment Reversal and Chargeback Reversal activities
- B. manually, but without using the Adjustment Reversal and Chargeback Reversal activities
- C. automatically, but without using the Adjustment Reversal and Chargeback Reversal activities
- D. manually by using Chargeback Reversal activities
- E. manually by using Adjustment Reversal activities
Answer: A
Explanation:
When you reverse a receipt, if an adjustment or chargeback exists, Receivables automatically generates off-setting adjustments using the Adjustment Reversal and Chargeback Reversal activities.
References:
NEW QUESTION 42
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