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

Oracle 1Z0-1056-23 Online Questions & Answers

• Question 31:

  A Cloud customer has decided to use Custom data points loaded by using REST API for Credit Management setup.

  After creating Custom data point definitions, which three data point values need to be provided to successfully create a new value?(Choose three.)

  A. Account Number or Party Number
  B. Currency code
  C. Data Point ID
  D. Data Point Description
  E. Data Point Lookup
  A. Account Number or Party Number
  B. Currency code
  C. Data Point ID

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  Explanation/Reference:

  Reference: https://www.oracle.com/webfolder/technetwork/tutorials/tutorial/cloud/r13/wn/fin/releases/21B/21B-financials-wn.htm

• Question 32:

  While reviewing Balance Forward Bill Infertile on the Account Overview page m Bill Management, you notice that it is only displaying balance forward Mis raised in the last month. How can you increase the number of months to view past balance forward bills?

  A. Add the number of months as a value for the BILL.MANAGEMENT lookup code
  B. Use Bill Management System Options
  C. Use the threshold view of Balance Forward Bill Infotile
  D. Use Receivables System Options
  B. Use Bill Management System Options

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  Explanation/Reference:

  You can use Bill Management System Options to increase the number of months to view past balance forward bills on the Account Overview page in Bill Management. You can set the value for the Number of Months for Balance Forward Bill Infotile Profile Option. Verified References: [How You Manage Balance Forward Billing-Oracle]

• Question 33:

  Your customer upload batch completes with an error and you identify the error as being due to incorrect payment method.

  Which action should you take the resolve the Issue?

  A. Use the Customer Data Exceptions spreadsheet.
  B. Use the Customer Payment Method Exceptions spreadsheet.
  C. Troubleshoot Inthe Manage Customers page.
  D. Correct error and resubmit the batch.
  B. Use the Customer Payment Method Exceptions spreadsheet.

• Question 34:

  You defined a Payment Terms Threshold Policy to defer revenue recognition of 120 days. An invoice is imported with split Payment Terms, consisting of the following five installments: What revenue amount would be deferred on this Imported Invoice?

  

  A. 3000
  B. 5000
  C. 1000
  D. 4000
  E. 2000
  B. 5000

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  Explanation/Reference:

  This is the revenue amount that would be deferred on this imported invoice. The Payment Terms Threshold Policy defers revenue recognition of 120 days, which means that only the first two installments (1000 and 4000) are within the threshold and can be recognized as revenue. The remaining three installments (1000, 2000, and 2000) are beyond the threshold and must be deferred until they are due. Verified References: [How You Manage Revenue Recognition-Oracle]

• Question 35:

  Which three receipts can be automatically applied by a system? (Choose three.)

  A. receipts that are unapplied
  B. receipts created in a spreadsheet and uploaded
  C. miscellaneous receipts
  D. receipts that are manually created
  E. receipts created in a lockbox and uploaded
  C. miscellaneous receipts
  D. receipts that are manually created
  E. receipts created in a lockbox and uploaded

• Question 36:

  When defining the receipt method for automatic receipt processing, the business requirement is to produce the minimum number of payments. Which receipt rule should you define?

  A. One per Customer per due date
  B. One per Customer
  C. One per site per due date
  D. One per invoice
  D. One per invoice

• Question 37:

  A Cloud client has a requirement to process the most precise revenue recognition schedule.

  Which revenue schedule would you use to achieve this requirement?

  A. FixedRate
  B. Daily Revenue rate ?Partial Periods
  C. Variable rate
  D. Period end rate
  E. Daily Revenue Rate ?All periods
  E. Daily Revenue Rate ?All periods

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  Explanation/Reference:

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faofc/manage-customer-billing.html#FAOFC81661

• Question 38:

  You schedule print runs of transactionsand balance forward bills according to the needs of your enterprise.

  Which three statements are true? (Choose three.)

  A. It is not recommended to print transactions and balance forward bills directly from BI Publisher.
  B. If you have printed atransaction, the View Print button will not display a preview of the print.
  C. If you have not printed a transaction, the View Print button (Preview of Print) displays the transaction according to the default template in BI Publisher.
  D. It is recommendedthat you always print directly from BI Publisher to give you more control over the templates in case you need to change them.
  E. Both the transaction, or each transaction in a balance forward bill, will be marked as printed in the system.
  C. If you have not printed a transaction, the View Print button (Preview of Print) displays the transaction according to the default template in BI Publisher.
  D. It is recommendedthat you always print directly from BI Publisher to give you more control over the templates in case you need to change them.
  E. Both the transaction, or each transaction in a balance forward bill, will be marked as printed in the system.

• Question 39:

  When a customer opts to make a payment by a creditcard, this receipt is identified as a(n) _______________.

  A. miscellaneous receipt
  B. quick cash receipt
  C. manual receipt
  D. automatic receipt
  E. AutoLockbox receipt
  D. automatic receipt

• Question 40:

  Manage Collectors

  Scenario:

  You are responsible for defining a new collector. who will perform collection activities across multiple business units.

  Task:

  Create a new Collector. where:

  1.

  Name of the collector is (Replace XX with 03. which is your allocated User ID.)

  2.

  Collector must be available to all business units.

  3.

  Collector maps to employee FASXX Student (Replace xx with 03, which is your allocated User ID.)

  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 Collectors icon in the Receivables work area.

  3.

  Click on the Create button.

  4.

  In the Collector window, enter the following information:

  5.

  Click on the Save button. The new collector will be created.