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

• Question 11:

  Where is the summary delinquency data displayed on the Collections Dashboard?

  A. Activity tab

  B. Correspondence tab

  C. Profile tab

  D. Aging tab

  Correct Answer: C

• Question 12:

  Your customer wants to retrieve values for the Line of Business segment based on Customer Class for the Revenue account.

  Which option would you use to achieve this with the help of the Subledger Accountingsolution?

  A. Mapping Set

  B. Supporting References

  C. Transaction References

  D. Description Rule

  Correct Answer: B

• Question 13:

  In the customer hierarchy of Customer Corporation, Customer Worldwide is the parent company of Customer USA and Customer Japan. Customer West is a subsidiary of Customer USA.

  Which three statements are true if the CustomerCorporation hierarchy is assigned to a Pay Below Paying relationship? (Choose three.)

  A. Customer USA can pay for Customer Worldwide, Customer West, and its own transactions.

  B. Customer Japan can pay its own transactions.

  C. Customer USA can pay for Customer West and its own transactions.

  D. Customer Japan can pay for Customer West, Customer USA, and its own transactions.

  E. Customer Worldwide can pay for Customer USA, Customer Japan, Customer West, and its own transactions.

  Correct Answer: BCD

• Question 14:

  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

  Correct Answer: CD

• Question 15:

  Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)

  A. drilldown to see reconciliation details and to make reconciling corrections

  B. drilldown on the difference amounts to see specific reconciling items and the potential cause of the out-of-balance condition

  C. drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity

  D. drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger

  E. drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without actually downloading to Excel

  Correct Answer: BCE

• Question 16:

  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

  Correct Answer: A

• Question 17:

  You have been asked to assign a reference data set to a specific Business Unit for several Receivable setups.

  Whatare the navigational steps needed to accomplish this task?

  A. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area:"Receivables"/Task: "Manage Business Unit Set Assignment"

  B. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Legal Structures"/Task: "Manage Business Unit Set Assignment"

  C. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Financial Reporting Structures"/Task: "Manage Business Unit Set Assignment"

  D. Setup and Maintenance/Setup Dropdown:"Financials"/Functional Area: "Organization Structures"/Task: "Manage Business Unit Set Assignment"

  Correct Answer: A

• Question 18:

  Your client's legacy system uses a hierarchical parent/child relationship to organize customer information because a single customer may have more than one bank account or payment method.

  Does this prevent you from using theOracle Fusion Trading Community Model Data Import program?

  A. The program allows the use of parent, child, and grandchild table hierarchies, but it requires multiple Customer Master records for each customer within the hierarchy.

  B. The program allows table hierarchies for customer bank accounts, but not for other customer information.

  C. No; the program contains parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.

  D. Yes; the program specificallyprohibits parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.

  E. The use of parent, child, and grandchild table hierarchies is allowed only in Accounts Payable, not Accounts Receivable.

  Correct Answer: D

• Question 19:

  You are reviewing an invoice on the Review Transaction page. After clicking the Sales Credit subtab, you notice the following breakdown: Revenue Allocation and Nonrevenue Allocation.

  What is a Nonrevenue Allocation?

  A. sales credits associated to deferred revenue

  B. sales credit allocation based on billing corrections

  C. sales credit reversals due to credit memo creation

  D. additional incentive-based sales credits

  Correct Answer: C

• Question 20:

  As a Billing Manager you are responsible for reviewing adjustments and approving them. Which action is not available in the "ApproveAdjustments" page?

  A. Approve

  B. Request Information

  C. Reassign

  D. Reject

  E. Edit

  Correct Answer: C