Valid 1Z0-1056-21 Exam Q&A PDF 1Z0-1056-21 Dump is Ready (Updated 156 Questions)
Exam Questions and Answers for 1Z0-1056-21 Study Guide
NEW QUESTION 55
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 56
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 57
A Cloud client has a requirement to process the most precise revenue recognition schedule.
Which revenue schedule would you use to achieve this requirement?
- A. Daily Revenue rate - Partial Periods
- B. Variable rate
- C. Period end rate
- D. Fixed Rate
- E. Daily Revenue Rate - All periods
Answer: E
NEW QUESTION 58
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 account
- B. Match payment with Invoice
- C. Clear the past due invoices grouped by payment terms
- D. Apply to the oldest invoice first
- E. Clear past due invoices
Answer: D
NEW QUESTION 59
A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the remaining balance on open invoices, but some of the amounts have exceeded the Billing Specialist's approval limits.
What would be the result?
- A. The program creates the adjustments only for the amounts within the Billing Specialist's approval limits.
- B. The program creates the adjustments with a status of Pending Approval for the amount that exceeds the Billing Specialist's approval limits.
- C. The program can be run only if the amount is within the Billing Specialist's approval limits.
- D. The program creates the adjustments with a status of Rejected for the amount that exceeds the Billing Specialist's approval limits.
Answer: B
Explanation:
Reference: https://docs.oracle.com/cd/A60725_05/html/comnls/us/ar/adjust.htm#n_adj
NEW QUESTION 60
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. The strategy can be modified from the Manage Customers page.
- C. The Collector can modify the strategy from the Profile > Strategies tab.
- D. Only a Collections Administrator can modify the strategy.
Answer: A
NEW QUESTION 61
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. Select the Enable XML Invoicing Check Box for Relevant Transaction Classes
- E. Set Preferred Delivery Methods to Email
Answer: B,D
NEW QUESTION 62
The Business Intelligence repository contains metadata that defines columns, which you can include in an analysis.
Which three types of columns are available when you create or edit an analysis? (Choose three.)
- A. Fact
- B. Sum
- C. Function
- D. Hierarchy
- E. Attribute
Answer: A,D,E
NEW QUESTION 63
If a customer has more than one transaction with the same number within a Lockbox transmission, then in which two receipt statuses are the receipts left? (Choose two.)
- A. Unidentified, if the Customer Account Number or MICR is not provided and there are no successful matching recommendations
- B. On-account, if the Customer Account Number or MICR is provided and there are no matching recommendations
- C. Applied, if the Customer Account Number or MICR number is provided
- D. Unapplied, if the Customer Account Number or MICR number is provided
Answer: A,D
NEW QUESTION 64
The auto-invoice program fails to complete. Subsequently, you notice a message in the log file regarding insufficient memory for processing.
To resolve this issue, by what factor should you multiply the maximum number of imported records (rounded to the nearest whole number)?
- A. 0
- B. 1
- C. 2
- D. 3
- E. 4
Answer: E
NEW QUESTION 65
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. Answers
- B. Visual Builder add on to Excel
- C. BI Composer
- D. Report Builder
Answer: B,D
NEW QUESTION 66
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 67
You are defining a new receipt class to process manual customer payments and plan to use reconciliation accounting in Cash Management.
Which two clearance methods enable you to match and clear transactions in Cash Management? (Choose two.)
- A. by Conformation
- B. by Automatic Clearing
- C. by matching
- D. Directly
- E. by factoring
Answer: B,C
NEW QUESTION 68
Which reporting tool is primarily used by users to create ad hoc analysis from real-time Receivables data?
- A. Smart View
- B. Financial Reporting Web Studio
- C. Oracle Transaction Business Intelligence
- D. XML Publisher
- E. ADFdi Spreadsheets
Answer: C
NEW QUESTION 69
A client has implemented a revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines is associated with both a nonstandard refund policy (60 days) and an acceptance clause (100 days).
When will revenue be recognized?
- A. after 60 days
- B. only after manual intervention
- C. immediately
- D. after 100 days
Answer: D
NEW QUESTION 70
You are explaining the benefits of using Bill Management as a self-service electronic bill presentment solution to an existing customer.
Which feature is not supported in Bill Management?
- A. Making payments by using a credit card or the bank account
- B. Managing disputes
- C. Managing unapplied payments
- D. Managing credit memos
- E. Reviewing customer account balances
Answer: A
NEW QUESTION 71
In which two ways would you configure Satisfaction Method (SM) and Satisfaction Measurement Model (SMM) in Revenue Management to recognize revenue for performance obligations over time? (Choose two.)
- A. by setting SM to "Requires Complete" and SMM to "Period"
- B. by setting SM to "Allow Partial" and SMM to "Percent"
- C. by setting SM to "Allow Partial" and SMM to "Period"
- D. by setting SM to "Requires Complete" and SMM to "Percent"
- E. by setting SM to "Requires Complete" and SMM to "Quantity"
Answer: C,D
NEW QUESTION 72
Which three actions can be performed in the Collections Work Area, which will have an impact on the collection process?
- A. Adding new customer contacts in the Contacts tab.
- B. Processing a payment promise in the Transactions Tab.
- C. Changing the collector in the Profile Tab.
- D. Creating a credit memo in the Transactions Tab.
- E. Applying a customer payment in the Aging Tab.
Answer: A,B,C
NEW QUESTION 73
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