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

Oracle 1Z0-1056-23 Online Questions & Answers

• Question 51:

  The process of remitting receipts to a bank results in fund transfer errors.

  Identify three corrective actions to resolve this. (Choose three.)

  A. receipt reversal
  B. clearing payment information
  C. credit reversal
  D. debit memo reversal
  E. change of instrument
  A. receipt reversal
  B. clearing payment information
  E. change of instrument

• Question 52:

  Which three Infotiles can be seen in the Accounts Receivables work area? (Choose three.)

  A. Activities
  B. Unapplied Receipts
  C. Unapplied Credits
  D. Receipt Batches
  E. Unidentified Receipts
  B. Unapplied Receipts
  C. Unapplied Credits
  D. Receipt Batches

• Question 53:

  As a consultant, you have builtthe following Scoring model in Advanced Collections: If a customer has 10 past due transactions and an amount overdue of $125, what is the calculated score?

  

  A. 55
  B. 25
  C. 100
  D. 50
  E. 45
  D. 50

• Question 54:

  Which two are rules applicable to issue of refunds? (Choose two.)

  A. You cannot refund more than either the original receipt amount or the remaining unapplied amount.
  B. You can refund receipts that were either remitted or cleared.
  C. Youcan issue a credit card refund to a customer who has made a cash payment.
  D. You can refund receipts that are factored.
  A. You cannot refund more than either the original receipt amount or the remaining unapplied amount.
  B. You can refund receipts that were either remitted or cleared.

• Question 55:

  An invoice for $100 USD has revenue deferred due to unmet payment-based contingencies and the Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 USD has been issued against this invoice.

  Explain how revenue accounting will occur.

  A. Earned revenue will be debited for $50 USD.
  B. Unearned revenue willbe credited for $100 USD.
  C. Earned revenue will be credited for $50 USD.
  D. Unearned revenue will be debited for $50 USD.
  C. Earned revenue will be credited for $50 USD.

• Question 56:

  To meet the business needs of most organizations, "Common Set" is seeded InFusionfor all set-enabled objects with the exception of _________________.

  A. AutoMatch Rule Sets
  B. AutoCash Rules
  C. Revenue Scheduling Rules
  D. Customer Site
  E. Aging Methods
  D. Customer Site

• Question 57:

  What do you need to total in order tofind the total transaction price for a customer contract that is calculated by Revenue Management?

  A. the extended SSP amounts for all performance obligations in the customer contract
  B. the SSP amounts for all performance obligations in the customer contract
  C. the selling price for all performance obligations in the customer contract
  D. the allocated amount for all performance obligations in the customer contract
  E. the billing amount for all performance obligations in the customer contract
  E. the billing amount for all performance obligations in the customer contract

• Question 58:

  Given the default system options:

  

  Which two instances are you required to select for the ?require salesperson flag? (Choose two.)

  A. Sales credit tracking is required
  B. FBDI Loader is required
  C. Auto-Invoicing is required
  D. Revenue accounting is required
  A. Sales credit tracking is required
  D. Revenue accounting is required

• Question 59:

  When deciding how to set up the system to recognize revenue, it isimportant to understand the extent of revenue deferral and the subsequent timing of revenue recognition.

  Which two statements are true when you consider that recognition depends on the nature of the contingency? (Choose two.)

  A. Time-based contingenciescan expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.
  B. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.
  C. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
  D. Time-based contingencies must not expire before the contingency can be removed and revenue recognized.
  E. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.
  B. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.
  C. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.

• Question 60:

  What is the initial status of a newly created bill receivable?

  A. Pending posting
  B. Awaiting approval
  C. New
  D. Awaiting submission
  E. Pending remittance
  E. Pending remittance

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  Explanation/Reference:

  Reference: https://docs.oracle.com/en/cloud/saas/financials/20b/faofc/manage-bills-receivable.html#FAOFC1479958