Oracle 1Z0-1056-23 Online Practice Questions and Exam Preparation

Oracle 1Z0-1056-23 Online Questions & Answers

• Question 1:

  You are trying to migrate the Subledger Accounting setup by using the Export and Importfunctionality in the Setup and Maintenance work area. The import process, however, returns errors. Identify two reasons for the import failure.

  A. an inactive Journal Line Type
  B. an inactive Accounting Method
  C. an inactive Mapping Set
  D. an inactive Journal Entry Rule Set
  C. an inactive Mapping Set

• Question 2:

  Your Customer Upload Batch with an error and you identify the error as being due to an incorrect Payment Method.

  How will you correct the error?

  A. by using the Customer Import Interface work area
  B. by using the correct Customer PaymentMethod spreadsheet
  C. by using the correct Customer Data spreadsheet
  D. by importing the correct data by using a new spreadsheet upload
  B. by using the correct Customer PaymentMethod spreadsheet

• Question 3:

  You are not able to initiate a bankruptcy request at the customer site level on behalf of a customer.

  Which two conditions are failing? (Choose two.)

  A. Preferences must be enabled and Enable Bankruptcy must be set to Yes for the customer.
  B. The Collections Administrator creates a bankruptcy request in theCustomer Relationship Management (CRM) application and a collector should have the Collection Manager and Customer Profile Administrator roles assigned.
  C. Preferences must be enabled and Enable Bankruptcy must be set to Yes in Manage Collections Preferences in the Functional Setup Manager for Advanced Collections.
  D. The Collections Manager creates a bankruptcy request in the Customer Relationship Management (CRM) application and a collector should be configured as a resource.
  E. Bankruptcy must be appliedat the customer level, which includes all transactions at the customer, account, and Site levels.
  F. The customer does not have the default strategy and default collector assigned at the customer account and site level.
  B. The Collections Administrator creates a bankruptcy request in theCustomer Relationship Management (CRM) application and a collector should have the Collection Manager and Customer Profile Administrator roles assigned.
  C. Preferences must be enabled and Enable Bankruptcy must be set to Yes in Manage Collections Preferences in the Functional Setup Manager for Advanced Collections.

• Question 4:

  ABC Company uses euros as the ledger currency, and it receives an invoice with three line items in Norwegiankrone. For this example, the conversion rate between the krone and the euro is 6.55957. The lines total of invoice is 7.93 euro. However, the invoice amount shows a total of 7.92 euro. The user was not able to run the accounting.

  Where should you define the header-level rounding account?

  A. Customer Account Level
  B. Transaction Source
  C. Receivable System Option
  D. Customer Site Level
  E. Transaction Type
  B. Transaction Source

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  Explanation/Reference:

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/fairp/manage-receivables-system-options.html#FAIRP271497

• Question 5:

  What information does the Collector see in the Activities List area of the Collections Dashboard?

  A. customer's profile for each assigned customer
  B. customer search as per the parameter specified
  C. status of processing activitiesfrom the Process Monitor
  D. tasks assigned to the Collector, such as follow-up calls
  E. summary of aged transactions
  D. tasks assigned to the Collector, such as follow-up calls

• Question 6:

  You are asked to amend subledger accounting and reporting to include origin and history of Receivable transactions.

  Which three event attributes should be used? (Choose three.)

  A. Transaction number of amendments:
  B. Transaction created by
  C. Transaction last update date
  D. Transaction creation date
  E. Transaction type of update
  A. Transaction number of amendments:
  C. Transaction last update date
  E. Transaction type of update

• Question 7:

  Which method is used to allocate total transaction price across performance obligations in Revenue Management?

  A. Two Step Allocation Method
  B. Inverted Allocation Method
  C. Alternative Allocation Method
  D. Relative Allocation Method
  E. Residual Allocation Method
  A. Two Step Allocation Method

• Question 8:

  One of the customers pays its bills electronically from their bank account (Direct debit).

  Which process do you need to run in Receivables to initiate the transfer of funds from their bank account to yourorganization's bank account?

  A. Clear Receipts Automatically Process
  B. Remittance Process
  C. Automatic Receipt Process
  D. Lockbox Process
  B. Remittance Process

• Question 9:

  Your organization has decided to use the Portal Upload delivery method for some of their customers. You will be using this in place of other options, such as Print Email, or XML to deliver customer invoices. Which step must be performed in the system to deliver transactions to your customers by using the Portal Upload method?

  A. Select Portal Upload as a delivery method on Customer Profile under Statement and Dunning.
  B. Create a custom preferred delivery method in the Manage Receivables Lookups task in Functional Setup Manager.
  C. Select Portal Upload as a delivery method on Customer Profile under Invoicing.
  D. Run the Create Customer Statement process in Scheduled Processes.
  E. Create a custom-preferred delivery method in the Manage Receivables System Options task in Functional Setup Manager.
  C. Select Portal Upload as a delivery method on Customer Profile under Invoicing.

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  Explanation/Reference:

  This option allows you to assign customer accounts and sites a preferred delivery method of Portal Upload for customer transactions intended for upload to a supplier portal or external system1. References: Portal Upload and Custom Delivery Methods-Oracle

• Question 10:

  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.
  A. You need to create Scoring Formulae (or usepredefined Scoring Formulas).
  D. You need to create Strategy Tasks of the type "Automatic" only.