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

• Question 31:

  Identify the dunning letter template set provided by an application.

  A. Soft, Regular, Hard

  B. Regular, Medium, Hard

  C. Final Demand, Soft, Medium

  D. Regular, Final Demand, Medium

  Correct Answer: C

• Question 32:

  Which three receipts can be automatically applied by a system? (Choose three.)

  A. receipts that are unapplied

  B. receipts created in a spreadsheet and uploaded

  C. miscellaneous receipts

  D. receipts that are manually created

  E. receipts created in a lockbox and uploaded

  Correct Answer: CDE

• Question 33:

  To meet the business needs of most organizations, "Common Set" is seeded InFusion for all set- enabled objects with the exception of _________________.

  A. AutoMatch Rule Sets

  B. AutoCash Rules

  C. Revenue Scheduling Rules

  D. Customer Site

  E. Aging Methods

  Correct Answer: D

• Question 34:

  If a receipt cannot be automatically matched or transaction information is not available, Receivables can

  use the AutoCash rule set.

  In which three places is the rule set found? (Choose three.)

  A. System Options

  B. Receipt Class

  C. Customer Site

  D. Receipt Method

  E. Customer Account

  Correct Answer: CDE

  If transactions cannot be matched or transaction information is not available, Receivables uses the AutoCash rule set defined for the customer profile either at the customer site or customer level to apply the receipt. If the customer does not have an AutoCash rule set assigned to a profile, Receivables uses the AutoCash rule set assigned to system options and the number of discount grace days defined in the customer site or customer profile to apply the receipt.

• Question 35:

  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. 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.

  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.

  Correct Answer: BC

• Question 36:

  When discussing the Receivables to Ledger Reconciliation Report with your customer, you are asked a

  number of questions about how to run the report.

  Which statement is true?

  A. You can exclude unidentified receipts, but you cannot exclude on-account activities and unapplied receipts.

  B. You cannot exclude on-account activities, unapplied receipts, and unidentified receipts.

  C. You can include or exclude intercompany transactions, or you can reconcile by intercompany activity only.

  D. You can select only a Closed accounting period.

  Correct Answer: C

• Question 37:

  What validation step is required for implementing dispute processing?

  A. The Recognize Revenue Program is scheduled.

  B. BPM Work List for approval configuration is validated.

  C. Periods for which the transaction can be disputed are Open.

  D. All transactions are of the invoice type.

  Correct Answer: B

• Question 38:

  If the Contract Identification Rules that you defined for your customer did not group the source data into customer contracts as expected, how would you resolve the issue?

  A. Delete the performance obligations from the relevant contracts through the Manage Customer Contracts UI.

  B. Delete the source data that was imported into Revenue Management and import new source data.

  C. Run the Discard Customer Contracts program for the relevant contracts and run the Identify Customer contracts program again.

  D. Run the Discard Customer Contracts program for the relevant contracts, define a new, higher- priority Contract Identification Rule, and run the Identify Customer Contracts program again.

  E. Delete Contracts from the Manage Customer Contracts UI.

  Correct Answer: D

• Question 39:

  What are the three setup steps required to implement the Lockbox feature? (Choose three.)

  A. Receipt Classes and Receipt Methods

  B. late charges

  C. Lockbox and Lockbox Transmission Formats

  D. Receipt Sources

  E. credit card refunds

  Correct Answer: ACD

• Question 40:

  A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to

  consumers. The entity has identified that this bundle is a distinct performance obligation.

  How would you configure the Performance Obligation Identification Rule to ensure correct grouping of

  these items?

  A. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute

  B. by defining a grouping rule on the customer class

  C. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain the same value for that attribute

  D. by defining an item group and assigning that to the rule

  E. by defining an exclusion rule to exclude customer classes that are "Retail"

  Correct Answer: A