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

Oracle 1Z0-1056-23 Online Questions & Answers

• Question 171:

  Which transactions are included when transactions of specified customers are selected in the Create Balance Forward Billing Program?

  A. transactions that have the Print Option set to Do Not Print
  B. transactions that have the selected payment terms
  C. transactions have a Bill Type of Imported
  D. transactions that were included in a previous Balance Forward Bill
  B. transactions that have the selected payment terms

• Question 172:

  Which two statements are true about processing Receivables adjustments that impact tax amounts?

  A. Receivables can look at invoice and retrieve the tax rate code.
  B. There is no need to retrieve the tax rate code.
  C. Receivables can look at the adjustment activity and retrieve the tax rate code.
  D. Receivables can look at System Options and retrieve the tax rate code.
  A. Receivables can look at invoice and retrieve the tax rate code.
  D. Receivables can look at System Options and retrieve the tax rate code.

• Question 173:

  Which four output file types are available when you run the "Print Receivables Transactions" program?

  A. JPG
  B. PDF
  C. Excel
  D. HTML
  E. Word
  F. Zipped PDFs
  B. PDF
  C. Excel
  D. HTML
  F. Zipped PDFs

• Question 174:

  What are three functions of the Create AutomaticReceipt Write-offs program? (Choose three.)

  A. creating write-offs for specific currencies and customers
  B. limiting write-offs by a percentage of the original receipt amount
  C. scheduling periodic write-offs as receipt adjustments for small remaining balances
  D. scheduling periodic write-offs as receipt adjustments for old remaining balances
  E. scheduling periodic write-offs to occur in future periods
  A. creating write-offs for specific currencies and customers
  B. limiting write-offs by a percentage of the original receipt amount
  C. scheduling periodic write-offs as receipt adjustments for small remaining balances

• Question 175:

  A client rents equipment for special events. They havethe following invoicing requirements:

  1.

  invoice must De entered and be due either immediately, or 20 or 10 days before the event.

  2.

  The Deferred Event Revenue Account for Rentals is to be credited at the time of invoice booking.

  3.

  After the events occur, theclient wants all lines to debit the Deferred Event Revenue Account and credit the Event Revenue.

  How can you meet this requirement?

  A. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Contingency Expiration,and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.
  B. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Invoicing, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.
  C. Create a Revenue Contingency with Revenue Policy as None and Contingency Primary Removal Event as Payment.
  D. Create a Revenue Contingency with Revenue Policy as Credit, Contingency Primary Removal Event as Milestone Billing, and Optional Removal Event as Fulfillment Date.
  C. Create a Revenue Contingency with Revenue Policy as None and Contingency Primary Removal Event as Payment.

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  Explanation/Reference:

• Question 176:

  Identify the receivables system option that relates to customers.

  A. Reciprocal Customer
  B. Receipt Method
  C. Default Country
  D. Automatic Site Numbering
  B. Receipt Method
  C. Default Country

• Question 177:

  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

• Question 178:

  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:

  Define Balance Forward Payment Terms, where:

  1.

  Name of the payment term is XXNet 30 (Replace XX with 03, which is your allocated user ID.)

  2.

  Payment terms are accessible to all business units

  3.

  Discounts are applicable to the full invoice amount

  4.

  Discounts are applicable even when the customer does not send a full payment

  5.

  Payment terms are 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 Payment Terms icon in the Receivables work area.

  3.

  Click on the Create button.

  4.

  In the Payment Terms window, enter the following information:

  5.

  Click on the Save button.

  The new balance forward payment terms will be created.

  To make the payment terms accessible to all business units:

  1.

  Click on the Business Units tab.

  2.

  Select the check box next to All Business Units.

  3.

  Click on the Save button.

  The payment terms will now be accessible to all business units.

• Question 179:

  You created an Auto cash Ruleset where the first rule to be applied to receipts is Match Payments with Invoice. Discount = Earned Only, Late charges = NO, Receipt = $900, Receipt date =14-Feb-2020, Discount

  Grace Days = 5.

  Which transaction will be applied to the receipt?

  A. Invoice Amount: $1000, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 28-Feb 2020
  B. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 20-Feb-2020
  C. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 24-Feb-2020
  D. Invoice Amount: $800, Payment terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 28-Feb-2020
  B. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 20-Feb-2020

• Question 180:

  Which three attributes are displayed in the detail table of the Balance forward Bill infotile? (Choose three.)

  A. Due date
  B. Amount due on Bill
  C. Past due Amount
  D. Collector
  E. Billing date
  A. Due date
  B. Amount due on Bill
  E. Billing date

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  Explanation/Reference:

  Reference:https://www.oracle.com/webfolder/technetwork/tutorials/tutorial/cloud/r13/wn/fin/releases/19D/19D-financials-wn.htm