Oracle 1Z0-1056-22 Online Practice Questions and Exam Preparation

Oracle 1Z0-1056-22 Online Questions & Answers

• Question 71:

  Your customer has a state tax of 20% and a citytax of 10% as non-inclusive tax rates that are applicable on a transaction line. Your invoice has two lines: Line1 with $600 USD and Line2 with $400 USD.

  What will be the resulting tax and invoice amounts for your tax invoice?

  A. state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD.
  B. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,257.78 USD.
  C. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.
  D. state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 USD.
  E. state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.
  E. state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.

• Question 72:

  A business entity (your client) sells a computer, monitor, keyboard,and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation.

  How would you configure the Performance Obligation Identification Rule to ensure correct grouping of these items?

  A. by defininga grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute
  B. by defining a grouping rule on the customer class
  C. by defining a grouping on an extensible line attributeand ensuring that the source lines for the specified items contain the same value for that attribute
  D. by defining an item group and assigning that to the rule
  E. by defining an exclusion rule to exclude customer classes that are "Retail"
  A. by defininga grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute

• Question 73:

  You have created a sales invoice for $900 USD with an item line of $750 USD and a tax rate of 20%.The customer has made a payment of $500 USD and you are required to process the cash application to apply the $500 USD to the item

  line and $0 USD to tax.

  How would you achieve this?

  A. Set the credit classification revenue recognition policy to look for Line First and Tax Later.
  B. Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.
  C. Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.
  D. Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the receipt method.
  E. Set the payment terms revenue recognition policy to look for Line First and Tax Later.
  C. Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.

• Question 74:

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

• Question 75:

  A client has implemented a revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines isassociated with both a nonstandard refund policy (60 days) and an acceptance clause (100 days).

  When will revenue be recognized?

  A. only after manual intervention
  B. after 100 days
  C. immediately
  D. after 60 days
  B. after 100 days

• Question 76:

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

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  Explanation/Reference:

• Question 77:

  Which role provides access to Receivables ?Revenue Adjustments Real Time OTBI Subject area?

  A. Revenue Manager
  B. Accounts Receivable Manager
  C. Accounts Receivable Specialist
  D. BillingSpecialist
  C. Accounts Receivable Specialist

• Question 78:

  What are the two locations where the system can look for Receipt Match By Value when Receivables applies customer payments automatically for manually created receipts? (Choose two.)

  A. Receipt Method
  B. AutoMatch Rule
  C. Customer
  D. System Options
  C. Customer
  D. System Options

• Question 79:

  Which statement is true when you create an Implementation Project forOracle Financials Cloud?

  A. The Implementation Project is preconfigured and cannot be deleted or changed.
  B. You must plan your Implementation Project carefully because you cannot delete it or make changes later.
  C. You must select the offering "Financials" and each individual product or option to perform the setup for each product in Oracle Financials Cloud.
  D. When you select the offering "Financials," it automatically allows you to perform the setup for all Oracle Financials Cloud products.
  E. You needto make only the project name unique, and then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management, and Supply Chain Management.
  E. You needto make only the project name unique, and then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management, and Supply Chain Management.

• Question 80:

  To determine the best approach to converting a client's data, you must know which setup is set-enabled and can be shared.

  Identify three set-enabled setups in Receivables. (Choose three.)

  A. Collectors
  B. Standard Memo Lines
  C. Revenue Types
  D. Receivable Specialists
  E. Revenue Contingencies
  B. Standard Memo Lines
  C. Revenue Types
  E. Revenue Contingencies