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

• Question 31:

  Identify the dunning letter template set provided by an application.

  A. Soft, Regular, Hard

  B. Regular, Medium, Hard

  C. Final Demand, Soft, Medium

  D. Regular, Final Demand, Medium

  Correct Answer: C

• Question 32:

  As an Implementation Consultant, you want to define approval limits for Receivables. Which two statements are correct? (Choose two.)

  A. Theapproval limits are used by the auto adjustment program.

  B. The approval limits are set per user, document type, and currency.

  C. The implementation user can create their own approval limits.

  D. The approval limits per user and per currency are shared across the document types.

  Correct Answer: CD

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faofc/process-customer-payments.html#FAOFC1479584

• Question 33:

  What is the order used to group transaction lines during the AutoInvoice Import process?

  A. Transaction Source, Customer Site Profile, Customer Account Profile, system options

  B. System options, Customer Site Profile, Transaction Source, Customer Account Profile

  C. Transaction Source, Customer Account Profile, Customer Site Profile, system options

  D. Transaction Source, Customer Account Profile, system options, Customer Site Profile

  Correct Answer: A

• Question 34:

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

  A. Business Purpose

  B. Statement Cycle

  C. LegalEntity

  D. Tax

  E. Payment Terms

  Correct Answer: DE

• Question 35:

  Each time that you run AutoInvoice, the process generates a list of records that fail validation. Which two ways allow you to display AutoInvoice errors in an Excel workbook? (Choose two.)

  A. using the Incomplete Infotile

  B. using the Manage AutoInvoice Lines task

  C. using the Manage Transactions task

  D. using the Import Exceptions Infotile

  Correct Answer: BC

  Reference:https://docs.oracle.com/en/cloud/saas/financials/20b/faofc/manage-customer-billing.html#FAOFC1479532

• Question 36:

  When running the delinquency process for a customer, the business unit for which you want to run theprocess does not appear in the drop-down menu. Identify the action that you need to take.

  A. Business unit is not a required option on the Parameters tab to run the delinquency process.

  B. Only business units that the user has access to will appear in thelist of values. Modify the security options to provide access to the user.

  C. Select the check box to enter the default business unit if it does not appear in the drop-down menu.

  D. Click the Settings button to apply appropriate settings so that the business unit appears in the drop-down menu.

  Correct Answer: B

• Question 37:

  You are defining a new receipt class to process manual customer payments and plan to use reconciliation accounting in Cash Management. Which two clearance methods enable you to match and clear transactions in Cash Management? (Choose two.)

  A. byfactoring

  B. by Conformation

  C. by Automatic Clearing

  D. Directly

  E. by matching

  Correct Answer: CE

  Reference: https://docs.oracle.com/cd/E18727_01/doc.121/e13483/T359831T359834.htm

• Question 38:

  What validation step is required for implementing dispute processing?

  A. The Recognize Revenue Program is scheduled.

  B. BPM Work List for approval configuration is validated.

  C. Periods for which the transaction can be disputedare Open.

  D. All transactions are of the invoice type.

  Correct Answer: B

• Question 39:

  If the Contract Identification Rules that you defined for your customer did not group the source data into customer contracts as expected, how would you resolvethe issue?

  A. Delete the performance obligations from the relevant contracts through the Manage Customer Contracts UI.

  B. Delete the source data that was imported into Revenue Management and import new source data.

  C. Run the Discard Customer Contracts program for the relevant contracts and run the Identify Customer contracts program again.

  D. Run the Discard Customer Contracts program for the relevant contracts, define a new, higher-priority Contract Identification Rule, and run the Identify Customer Contracts program again.

  E. Delete Contracts from the Manage Customer Contracts UI.

  Correct Answer: D

• Question 40:

  You created an Auto cash Ruleset where the first rule to be applied to receipts is Match Payments with Invoice. Discount = Earned Only, Late charges = NO, Receipt = $900, Receipt date =14-Feb-2020, Discount

  Grace Days = 5.

  Which transaction will be applied to the receipt?

  A. Invoice Amount: $1000, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 28-Feb 2020

  B. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 20-Feb-2020

  C. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 24-Feb-2020

  D. Invoice Amount: $800, Payment terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 28-Feb-2020

  Correct Answer: B