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

Oracle 1Z0-1056-23 Online Questions & Answers

• Question 121:

  Which three actions can be performed in the Collections Work Area,which will have an impact on the collection process?

  A. Processing a payment promise in the Transactions Tab.
  B. Creating a credit memo in the Transactions Tab.
  C. Changing the collector in the Profile Tab.
  D. Applying a customer payment in the Aging Tab.
  E. Adding new customer contacts in the Contacts tab.
  A. Processing a payment promise in the Transactions Tab.
  C. Changing the collector in the Profile Tab.
  E. Adding new customer contacts in the Contacts tab.

• Question 122:

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

• Question 123:

  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
  C. Final Demand, Soft, Medium

• Question 124:

  Identify two late charge interest calculation methods. (Choose two.)

  A. Previous Balance
  B. Adjusted Balance
  C. Overdue Transactions only
  D. Average Daily Balance
  C. Overdue Transactions only
  D. Average Daily Balance

• Question 125:

  When you run Auto lnvoice. the process may generate a list of records that fail validation.

  Using which two methods/features, can you display the Auto lnvoice errors in an Excel workbook?

  A. The Incomplete Infotile
  B. The Manage Transactions task
  C. The Import Exceptions Infotile
  D. The Manage Auto lnvoice Lines task
  C. The Import Exceptions Infotile
  D. The Manage Auto lnvoice Lines task

  ---

  Explanation/Reference:

  To display the Auto Invoice errors in an Excel workbook, you can use either of these methods/features:

  The Import Exceptions Infotile in the Billing work area, which shows the number of records that failed validation and allows you to export them to Excel. The Manage Auto Invoice Lines task in the Billing work area, which enables you to search

  for and view import errors and export them to Excel. The other options are not correct because:

  The Incomplete Infotile shows the number of incomplete transactions, not import errors.

  The Manage Transactions task allows you to create and update transactions, not view import errors. Verified References:

  https://docs.oracle.com/en/cloud/saas/financials/23b/faofc/manage-autoinvoice.html#FAOFC-GUID-D0F4B5E1-CF4C-4B6F-B2A8-AF8B9E9C7D1A

• Question 126:

  Manage Receipt Classes and Methods

  Scenario

  Supremo US Business unit needs to capture customer payments that will be reconciled in the Cash Management application. You need to define a receipt class and receipt method, and assign the appropriate bank account to meet this requirement.

  Task:

  Create Receipt Method. where:

  1.

  Name of the new receipt method is XXCheck (Replace XX with 03. which is your allocated User ID.)

  2.

  Receipt method must be effective as of January 1. 2023

  A. See the explanation below for solution.
  B. PlaceHolder
  C. PlaceHolder
  D. PlaceHolder
  A. See the explanation below for solution.

  ---

  Explanation/Reference:

  1.

  Log in to Oracle Financials Cloud.

  2.

  Click on the Receipt Methods icon in the Receivables work area.

  3.

  Click on the Create button.

  4.

  In the Receipt Method window, enter the following information:

  5.

  Click on the Save button. The new receipt method will be created.

• Question 127:

  What are the two places where Receivables can look for the "Match Receipts By" setting when applying manual customer receipts? (Choose two.)

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

• Question 128:

  Debit Memo Reversal is a new receivable that replaces the item closed by the original receipt.

  When should the Debit Memo Reversal method be used to reverse a receipt?

  A. You are reversing a receipt that you previously applied to a chargeback and this chargeback was not accounted.
  B. You are reversing a receipt that you previously applied toa chargeback and this chargeback was posted to your general ledger.
  C. You are reversing a receipt that you previously applied to a chargeback and this chargeback has had no activity (another receipt or credit memo or adjustment) against it.
  D. You are reversing a Miscellaneous receipt.
  C. You are reversing a receipt that you previously applied to a chargeback and this chargeback has had no activity (another receipt or credit memo or adjustment) against it.

  ---

  Explanation/Reference:

  Reference: https://docs.oracle.com/cd/A60725_05/html/comnls/us/ar/recpts13.htm

• Question 129:

  Which two are Late Charge Calculation Methods?

  A. Credit Items and Disputed Transactions
  B. Late Payments Only
  C. Adjustment
  D. Overdue Invoices Only
  B. Late Payments Only
  D. Overdue Invoices Only

  ---

  Explanation/Reference:

  https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_9F953CFFF569FA73E040D30A688151DC

• Question 130:

  There are a few customers that you donot want to send dunning letters to.

  How would you exclude these customers from dunning?

  A. Disable Send Dunning Letter in Transaction Source Type.
  B. Disable Send Dunning Letter on the Correspondence tab.
  C. Disable Send Dunning Letter in CollectionsPreferences.
  D. Disable Send Dunning Letter on the Profile tab.
  E. Disable Send Dunning Letter in Transaction Type.
  D. Disable Send Dunning Letter on the Profile tab.