Oracle Enterprise Resource Planning (ERP) 1Z0-1056-21 Questions & Answers

• Question 91:

  Which three transaction types are used to generate late charges? (Choose three.)

  A. Cash Receipts

  B. Adjustments against the original transaction

  C. Credit Memo

  D. Debit Memo

  E. Interest Invoice

  Correct Answer: BCE

  Reference: https://docs.oracle.com/cloud/latest/financialscs_gs/FAIRP/FAIRP1476421.htm

• Question 92:

  Your Customer Upload Batch with an error and you identify the error as being due to an incorrect Payment

  Method.

  How will you correct the error?

  A. by using the Customer Import Interface work area

  B. by using the correct Customer Payment Method spreadsheet

  C. by using the correct Customer Data spreadsheet

  D. by importing the correct data by using a new spreadsheet upload

  Correct Answer: B

• 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. short-term debt clearing days

  B. risk elimination days

  C. clearing days

  D. collection days

  E. lead days

  F. recall days

  Correct Answer: A

• Question 94:

  Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)

  A. drilldown to see reconciliation details and to make reconciling corrections

  B. drilldown on the difference amounts to see specific reconciling items and the potential cause of the outof-balance condition

  C. drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity

  D. drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger

  E. drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without actually downloading to Excel

  Correct Answer: BCE

• Question 95:

  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, Customer Site Profile, system options

  D. Transaction Source, Customer Account Profile, system options, Customer Site Profile

  Correct Answer: A

• Question 96:

  When reversing a receipt, if an adjustment or chargeback exists, how are the off-setting adjustments created?

  A. manually, but without using the Adjustment Reversal and Chargeback Reversal activities

  B. automatically, but without using the Adjustment Reversal and Chargeback Reversal activities

  C. automatically by using the Adjustment Reversal and Chargeback Reversal activities

  D. manually by using Chargeback Reversal activities

  E. manually by using Adjustment Reversal activities

  Correct Answer: C

  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.

• Question 97:

  Which role provides access to Receivables ?Revenue Adjustments Real Time OTBI Subject area?

  A. Revenue Manager

  B. Accounts Receivable Manager

  C. Accounts Receivable Specialist

  D. Billing Specialist

  Correct Answer: C

• Question 98:

  Which two are rules applicable to issue of refunds? (Choose two.)

  A. You cannot refund more than either the original receipt amount or the remaining unapplied amount.

  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 can refund receipts that are factored.

  Correct Answer: AB

• Question 99:

  What is the impact on transactions of changing the billing cycle for a customer or group of customers?

  A. The billing cycle does not have any impact on new transactions.

  B. Existing transactions with no activity retain the old billing cycle.

  C. Existing transactions with activity adapt the new billing cycle.

  D. New transactions after this change inherit the new billing cycle.

  Correct Answer: D

• Question 100:

  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 $16.67 USD, and an invoice total of $1,184.34 USD.

  B. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,257.78 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 $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 USD.

  E. state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.

  Correct Answer: E