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

Oracle 1Z0-1056-23 Online Questions & Answers

• Question 151:

  When entering the Customer import upload spreadsheet, which two columns, if populated with *NULL will remove the existing values on loading?

  A. First Review Date
  B. Credit Review Cycle
  C. Order line Credit Limit
  D. Credit Limit
  A. First Review Date
  B. Credit Review Cycle

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  Explanation/Reference:

• Question 152:

  CORRECT TEXT-(Topic 2)

  Manage Balance Forward Billing Cycles and Payment Terms

  Scenario

  You are a consultant for a client who is implementing the Balance Forward Billing feature in Oracle Financials Cloud. You have been asked to define Balance Forward Billing Cycle as well as Balance Forward Billing Payment Terms so that your client can generate consolidated bills.

  Task:

  Create Balance Forward Billing Cycle, where:

  1.

  Name of the cycle is XXCycle (Replace XX with 03. which is your allocated user ID.)

  2.

  Bills are generated every day

  3.

  Cycle is 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.

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  Explanation/Reference:

  1.

  Log in to Oracle Financials Cloud.

  2.

  Click on the Balance Forward Billing icon in the Receivables work area.

  3.

  Click on the Cycles tab.

  4.

  Click on the Create button.

  5.

  In the Balance Forward Billing Cycle window, enter the following information:

  6.

  Click on the Save button.

  The new balance forward billing cycle will be created. To create a Balance Forward Billing Payment Term:

  1.

  Click on the Payment Terms tab.

  2.

  Click on the Create button.

  3.

  In the Balance Forward Billing Payment Term window, enter the following information:

  4.

  Click on the Save button.

  The new balance forward billing payment term will be created.

• Question 153:

  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
  B. receipts creation in a spreadsheet

• Question 154:

  If a receipt cannot be automatically matched or transaction information is not available, Receivables can use theAutoCash rule set.

  In which three places is the rule set found? (Choose three.)

  A. System Options
  B. Receipt Class
  C. Customer Site
  D. Receipt Method
  E. Customer Account
  C. Customer Site
  D. Receipt Method
  E. Customer Account

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  Explanation/Reference:

  If transactions cannot be matched or transaction information is notavailable, Receivables uses the AutoCash rule set defined for the customer profile either at the customer site or customer level to apply the receipt. If the customer does not have an AutoCash rule set assigned to a profile, Receivables uses the AutoCashrule set assigned to system options and the number of discount grace days defined in the customer site or customer profile to apply the receipt.

• Question 155:

  Which minimum Customer setup is required to create a receivables transaction?

  A. one customer account and one customer site with a bill-to site business purpose
  B. one customer account without any customer site
  C. one customer account with two sites: one with a bill-to business purpose and the other with a ship-to business purpose
  D. one customer account and one customer site with a ship-to site business purpose
  A. one customer account and one customer site with a bill-to site business purpose

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  Explanation/Reference:

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/fairp/define-customer.html#FAIRP1476580

• Question 156:

  How can a Collector assigned to a Customer modify a strategy that is assigned from the Collections Dashboard?

  A. A strategy is automatically assigned based on Scoring and cannot be manually assigned to a Customer by a Collector.
  B. Onlya Collections Administrator can modify the strategy.
  C. The Collector can modify the strategy from the Profile > Strategies tab.
  D. The strategy can be modified from the Manage Customers page.
  A. A strategy is automatically assigned based on Scoring and cannot be manually assigned to a Customer by a Collector.

• Question 157:

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

  Which three event attributes should be used?

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

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  Explanation/Reference:

  These are the three event attributes that can be used to identify the origin and history of Receivable transactions. They capture the information about the changes made to the transactions, such as the transaction number, the type of update (create, update, delete), and the date of the last update. Verified References: [How You Define Event Attributes-Oracle]

• Question 158:

  Where is the summary delinquency data displayed In the Collections Work Area?

  A. Transactions Tab
  B. History Tab
  C. Profile Tab
  D. Aging Tab
  D. Aging Tab

• Question 159:

  Which flexfields does Autolnvoice require to identify transactions and transaction lines, if you load the interface using a customized form?

  A. Line-level transaction flexfield. Header-level transaction flexfield. and Link to transaction flexfield
  B. Line-level transaction flexfield and Header-level transaction flexfield
  C. Line-level transaction flexfield, Invoice transaction flexfield. Reference flexfield. and Link to transaction flexfield
  D. Line-level transaction flexfield. Header-level transaction flexfield. and Reference flexfield
  B. Line-level transaction flexfield and Header-level transaction flexfield

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  Explanation/Reference:

  These are the two flexfields that AutoInvoice requires to identify transactions and transaction lines, if you load the interface using a customized form. They are used to group transaction lines into transactions and assign transaction attributes. Verified References: [How You Define AutoInvoice Grouping Rules-Oracle]

• Question 160:

  Which configuration step is required for processing Collections disputes?

  A. Define Aging Method to be used with disputed transactions.
  B. Define Dispute Thresholds in Collections Preferences.
  C. Set "Send Dispute Notice" Option to "Yes" in Collections Preferences.
  D. Define a "Collections" Approval Group as well as a "Billing" Approval Group in the BMP Worklist.
  B. Define Dispute Thresholds in Collections Preferences.