1Z0-1056-22 Real Exam Questions and Verified Answers

Question 1 Single choice

Which transactions are included when transactions of specified customers are selected in the Create Balance Forward Billing Program?

A
transactions that have the Print Option set to Do Not Print
B
transactions that have the selected payment terms
C
transactions have a Bill Type of Imported
D
transactions that were included in a previous Balance Forward Bill

Show answer and explanation

Correct answer: B

Question 2 Multiple choice

Given the default system options:

Which two instances are you required to select for the ?
require salesperson flag? (Choose two.)

A
Sales credit tracking is required
B
FBDI Loader is required
C
Auto-Invoicing is required
D
Revenue accounting is required

Show answer and explanation

Correct answers: A, D

Question 3 Multiple choice

You are the Billing Manager and you are responsible for reviewing adjustments and approving them.

Which two tabs are available in the Adjustments Overview Region on the Billing Work Area page? (Choose two.)

A
Pending My Research
B
Pending Approval From Managers
C
Pending Approval
D
Pending My Approval
E
Approved

Show answer and explanation

Correct answers: A, D

Question 4 Multiple choice

Which two duties are included in the Accounts Receivable Specialistassociated role? (Choose two.)

A
Import Payables Invoices Duty
B
Receipt Creation Duty
C
Trading Community Hierarchy Management Duty
D
Payment Settlement Management Duty

Show answer and explanation

Correct answers: A, D

Question 5 Multiple choice

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.

Show answer and explanation

Correct answers: B, C

Question 6 Single choice

Your customer upload batch completes with an error and you identify the error as being due to incorrect payment method.

Which action should you take the resolve the Issue?

A
Use the Customer Data Exceptions spreadsheet.
B
Use the Customer Payment Method Exceptions spreadsheet.
C
Troubleshoot Inthe Manage Customers page.
D
Correct error and resubmit the batch.

Show answer and explanation

Correct answer: B

Question 7 Single choice

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
Makingpayments by using a credit card or the bank account
B
Managing unapplied payments
C
Managing credit memos
D
Reviewing customer account balances
E
Managing disputes

Show answer and explanation

Correct answer: A

Question 8 Single choice

Identify a valid reason for a Collector being unable to enter a dispute against a particular transaction.

A
The invoice is not closed.
B
The transaction is partially paid.
C
The transaction type is not associated with a credit memo type.
D
The transaction date falls in a closed period.
E
The transaction is an invoice.

Show answer and explanation

Correct answer: C

Question 9 Multiple choice

Identify two values that default from Customer Profile Classes. (Choose two.)

A
Business Purpose
B
Statement Cycle
C
LegalEntity
D
Tax
E
Payment Terms

Show answer and explanation

Correct answers: D, E

Question 10 Single choice

Which method is used to allocate total transaction price across performance obligations in Revenue Management?

A
Two Step Allocation Method
B
Inverted Allocation Method
C
Alternative Allocation Method
D
Relative Allocation Method
E
Residual Allocation Method

Show answer and explanation

Correct answer: A