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

• Question 141:

  The Billing Manager has navigated to the Billing Work Area to review incomplete transactions.

  Which link on the Incomplete Infotile will provide detailed information onthe most recent incomplete transactions?

  A. 20+ Days Link

  B. 0-10 Days Link

  C. 0-5 Days Link

  D. 10+Days Link

  Correct Answer: B

• Question 142:

  Which two statements are true when you are using the Intercompany Reconciliation Process? (Choose two.)

  A. The Transaction Summary Report shows only transactions with a status of received.

  B. The Clearing Company Balancing Lines appear in the Intercompany Reconciliation Summary Report.

  C. The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.

  D. The ledger balancing lines are generated when theprimary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.

  E. You need to submit the Extract Intercompany Reconciliation Data job.

  Correct Answer: CD

• Question 143:

  If AutoAccounting is set to derive accounting segments based on a standard line, the transaction line must be either ________________ or ________________. Otherwise, AutoAccounting cannot derive a valid account code combination for revenue recognition.

  Identify the two values. (Choose two.)

  A. a standard memo line

  B. a purchasing item

  C. a credit memo line

  D. an inventory item

  E. a debit memo line

  Correct Answer: AD

• Question 144:

  Which statement is true about Balance Forward Billing?

  A. Balance Forward Bills must be enabled at each bill-to-site level.

  B. Balance Forward Bills can be created for a future date.

  C. Transactions included on a Balance Forward Bill can be updated.

  D. The Balance Forward Bill of a previous cycle need not be generated as Final to generate the Balance Forward Bill of the current cycle.

  Correct Answer: A

• Question 145:

  After a customer bankruptcy is approved, what happens in the Collections application?

  A. Collection activities are suspended, delinquent transactions nolonger appear on the Collections Work Area and customer status is changed to Bankrupt.

  B. Collection activities remain active, delinquent transactions appear in the Collections Work Area but customer status is changed to Bankrupt.

  C. Collection activitiesare suspended and delinquent transactions appear in the Collections Work Area.

  D. The Bankrupt Customer Collection job is automatically submitted to close all open transactions for the customer.

  Correct Answer: A

• Question 146:

  You have created payment terms in a system and associated them in the USA reference data set. All the payment terms in the system are shown as follows. Business Unit X has a set assignment ofEnterprise Set for payment terms. Payment Term = Net 30; Reference Data Set = Enterprise Set Payment Term = Net 45; Reference Data Set = Enterprise Set Payment Term = 1%/10 Net 30; Reference Data Set = USA Set Payment Term = Net 45; Reference Data Set =USA Set If an invoice is created in Business Unit X, which payment term set is available for use in a transaction?

  A. Net 45 (Enterprise Set), Net 45 (USA Set)

  B. Net 30 (Enterprise Set), Net 45 (Enterprise Set)

  C. Net 30 (Enterprise Set), Net 45 (USA Set)

  D. 1%/10 Net 30 (USA Set), Net 45 (USA Set)

  Correct Answer: B

• Question 147:

  Whenusing lockbox to process customer payments, which two tables are used in the upload? (Choose two.)

  A. RA_INTERFACE_PAYMENTS_ALL

  B. AR_PAYMENTS_INTERFACE_ALL

  C. AR_INTERFACE_INTERIM_LINES_ALL

  D. AR_INTERIM_CASH_RECEIPTS_ALL

  Correct Answer: BD

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faofc/process-customer-payments.html#FAOFC243475

• Question 148:

  Which reporting tool is primarily used by users to create ad hoc analysis from real-time Receivables data?

  A. Smart View

  B. Oracle Transaction Business Intelligence

  C. ADFdi Spreadsheets

  D. XML Publisher

  E. Financial Reporting Web Studio

  Correct Answer: B

  Reference: https://docs.oracle.com/cd/E51367_01/fa_lcm_gs/BIFAD/BIFAD.pdf

• Question 149:

  A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the remaining balance on openinvoices, but some of the amounts have exceeded the Billing Specialist's approval limits. What would be the result?

  A. The program creates the adjustments with a status of Pending Approval for the amount that exceeds the Billing Specialist's approval limits.

  B. The program can be run only if the amount is within the Billing Specialist's approval limits.

  C. The program creates the adjustments with a status of Rejected for the amount that exceeds the Billing Specialist's approval limits.

  D. The programcreates the adjustments only for the amounts within the Billing Specialist's approval limits.

  Correct Answer: A

  Referencehttps://docs.oracle.com/cd/A60725_05/html/comnls/us/ar/adjust.htm#n_adj

• Question 150:

  As an implementer, while importing data from the legacy/third-party system, you forgot to populate the accountingdistribution in the RA_INTERFACE_DISTRIBUTIONS_ALL table. What happens when you run accounting?

  A. It will return an error and the data will be stuck in the interface table.

  B. Neither invoice nor accounting will be created.

  C. Invoice will get created but accounting won't be created.

  D. Invoice will be created and the system will use auto accounting configuration to create accounting.

  Correct Answer: D