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

• Question 41:

  When importing Receivabletransactions into Fusion Receivables, the Autoinvoice log gives the error message "Error: Item validation org not set up for the BU."

  What action should you take to solve the issue?

  A. Set up Item validation organization in Inventory Item.

  B. Validate the Item validation organization in inventory Org.

  C. Set up Item validation organization in Inventory Org.

  D. Set up Item validation organization in Receivables System Options.

  Correct Answer: D

• Question 42:

  When deciding how to set up the system to recognize revenue, it isimportant to understand the extent of revenue deferral and the subsequent timing of revenue recognition.

  Which two statements are true when you consider that recognition depends on the nature of the contingency? (Choose two.)

  A. Time-based contingenciescan expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.

  B. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.

  C. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.

  D. Time-based contingencies must not expire before the contingency can be removed and revenue recognized.

  E. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.

  Correct Answer: BC

• Question 43:

  Your customer has three business units. The customer wants to share customer account addresses across these business units.

  Which reference data set can be used to achieve this?

  A. Create a new reference data set for account addresses andassign it to the business units.

  B. Assign a COMMON reference data set to the business units, which share the account addresses.

  C. Assign an enterprise reference data set to the business units, which share the account addresses.

  D. Create a separate reference data set for each business unit and assign it to each unit.

  Correct Answer: B

• Question 44:

  Which two statements are true about configuring Collection Strategies?

  A. You need to create Scoring Formulae (or usepredefined Scoring Formulas).

  B. You need to define an Aging Method that meets the requirements of your organization.

  C. You need to SGI the (Collections Method to Strategies for the relevant business unit.

  D. You need to create Strategy Tasks of the type "Automatic" only.

  Correct Answer: AD

• Question 45:

  To determine the best approach to converting aclient's data, you must know which setups are Reference: Data Set enabled and can be shared.

  Which three are Reference: Data Set enabled setups in Receivables? (Choose three.)

  A. Revenue Contingencies

  B. Receivables Activities

  C. Customer Account Sites

  D. Standard Memo Lines

  E. Revenue Transactions

  Correct Answer: ADE

• Question 46:

  Your client processes many customer refunds on a regular basis and would like to have information about recent refunds (including their status) for analytical purposes.

  What should you do to meet this requirement in an efficient manner?

  A. Create an Oracle Transactional Business Intelligence (OTBI) analysis.

  B. Search in the Receivables "Manage Credit Memo Applications" page, then export results to Excel.

  C. Run the predefined Transaction Details Report.

  D. Search in the Payables "Manage Payments" page, then export results to Excel.

  Correct Answer: A

• Question 47:

  Which three Collection Preferences can be selected as the default transaction class for the Transaction tab? (Choose three.)

  A. Deposit

  B. Guarantee

  C. Debit Memo

  D. Credit Memo

  E. Charge Back

  Correct Answer: ABC

• Question 48:

  As a consultant, you have builtthe following Scoring model in Advanced Collections: If a customer has 10 past due transactions and an amount overdue of $125, what is the calculated score?

  

  A. 55

  B. 25

  C. 100

  D. 50

  E. 45

  Correct Answer: D

• Question 49:

  The method that is used to capture receipts data in mass while you are offline and upload the receipts at a later date is called ______________.

  A. automatic receipts creation

  B. receipts creation in a spreadsheet

  C. manual receipt entry

  D. Lockbox receipts creation

  Correct Answer: B

• Question 50:

  Which statement is true about AutoAccounting?

  A. AutoAccounting is set up at the Legal Entity level.

  B. IfAutoAccounting cannot determine all the accounting flexfield segments, it derives what it can and displays an incomplete accounting flexfield.

  C. AutoAccounting is used to determine the default General Ledger accounts only for transactions that you import by using AutoInvoice.

  D. You cannot override the default General Ledger accounts thatAutoAccounting creates.

  Correct Answer: B