Oracle Oracle Financials Cloud 1Z0-1056-22 Questions & Answers

• Question 1:

  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

  Correct Answer: C

• Question 2:

  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

  Correct Answer: ABC

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

• 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

  Correct Answer: D

• 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.

  Correct Answer: ADE

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

• Question 5:

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

  A. Business Unit

  B. Account Segment

  C. Project Segment

  D. Project unit

  Correct Answer: AD

• Question 6:

  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

  Correct Answer: D

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

• 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

  Correct Answer: B

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

• Question 8:

  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.

  Correct Answer: AD

• Question 9:

  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.

  Correct Answer: CD

  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 10:

  Which setup is required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices?

  A. Intercompany invoicing must be enabled in Payables Invoice Options.

  B. Same tax rate code must be populated in Intercompany System Options for both Payables and Receivables invoices.

  C. Intercompany invoicing must be enabled in Receivables System Options.

  D. Receiver and provider businessunits and legal entities must be subscribed to the applicable tax regime on the transaction date.

  Correct Answer: D