Oracle 1Z0-1056-22 Online Practice Questions and Exam Preparation

Oracle 1Z0-1056-22 Online Questions & Answers

• Question 1:

  A Cloud customer has decided to use Custom data points loaded by using REST API for Credit Management setup.

  After creating Custom data point definitions, which three data point values need to be provided to successfully create a new value?(Choose three.)

  A. Account Number or Party Number
  B. Currency code
  C. Data Point ID
  D. Data Point Description
  E. Data Point Lookup
  A. Account Number or Party Number
  B. Currency code
  C. Data Point ID

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  explanation:

  Explanation/Reference:

  Reference: https://www.oracle.com/webfolder/technetwork/tutorials/tutorial/cloud/r13/wn/fin/releases/21B/21B-financials-wn.htm

• Question 2:

  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 tool should you use to create this analysis?

  A. BI Answers
  B. BI Composer
  C. BI Publisher
  D. Dashboard Builder
  C. BI Publisher

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  explanation:

  Explanation/Reference:

• Question 3:

  When a customer opts to make a payment by a creditcard, this receipt is identified as a(n) _______________.

  A. miscellaneous receipt
  B. quick cash receipt
  C. manual receipt
  D. automatic receipt
  E. AutoLockbox receipt
  D. automatic receipt

• Question 4:

  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. Prevent use of Dynamic Tokens.
  C. Increasethe character limit to greater than 4000.
  D. Insert hyperlinks.
  E. Modify the fonts and font size.
  A. Insert logos.
  D. Insert hyperlinks.
  E. Modify the fonts and font size.

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  explanation:

  Explanation/Reference:

  Reference: https://www.oracle.com/webfolder/technetwork/tutorials/tutorial/cloud/r13/wn/fin/releases/21 B/21B-financials-wn.htm#F17905

• Question 5:

  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 past due invoices grouped by payment terms
  B. Clear the account
  C. Match payment with Invoice
  D. Apply to the oldest invoice first
  E. Clear past due invoices
  D. Apply to the oldest invoice first

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  explanation:

  Explanation/Reference:

  Reference: https://docs.oracle.com/cd/A60725_05/html/comnls/us/ar/atocashs.htm

• Question 6:

  Which two determinant types are used in reference data assignment? (Choose two.)

  A. Business Unit
  B. Account Segment
  C. Project Segment
  D. Project unit
  A. Business Unit
  D. Project unit

• Question 7:

  ABC Company uses euros as the ledger currency, and it receives an invoice with three line items in Norwegiankrone. For this example, the conversion rate between the krone and the euro is 6.55957. The lines total of invoice is 7.93 euro. However, the invoice amount shows a total of 7.92 euro. The user was not able to run the accounting.

  Where should you define the header-level rounding account?

  A. Customer Account Level
  B. Transaction Source
  C. Receivable System Option
  D. Customer Site Level
  E. Transaction Type
  B. Transaction Source

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  explanation:

  Explanation/Reference:

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/fairp/manage-receivables-system-options.html#FAIRP271497

• Question 8:

  You created a bills receivable that is factored with recourse and applied a wrong receipt to the short-term debt before the bill maturity date plus the risk elimination days.

  Which actions are true? (Choose two.)

  A. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Protested.
  B. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Hold.
  C. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.
  D. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to PendingRemittance.
  E. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Unpaid.
  C. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.
  D. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to PendingRemittance.

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  explanation:

  Explanation/Reference:

  For bills receivable factored with recourse, receipts are applied to short term debt before the bill maturitydate plus risk elimination days. For receipts applied to short term debt, use the Recall action to recall the bill receivable and reverse these receipt applications.

• Question 9:

  Which two statements are true about processing Receivables adjustments that impact tax amounts?

  A. Receivables can look at invoice and retrieve the tax rate code.
  B. There is no need to retrieve the tax rate code.
  C. Receivables can look at the adjustment activity and retrieve the tax rate code.
  D. Receivables can look at System Options and retrieve the tax rate code.
  A. Receivables can look at invoice and retrieve the tax rate code.
  D. Receivables can look at System Options and retrieve the tax rate code.

• Question 10:

  You are investigating the Receivables to General Ledger Reconciliation Report and must explain any variances to your Accounting Manager.

  What two variance amounts should you expect to investigate in this report? (Choose two.)

  A. Tax Variance
  B. Intercompany Variance
  C. Accounting Variance
  D. Receivables Variance
  C. Accounting Variance
  D. Receivables Variance

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  explanation:

  Explanation/Reference: