Oracle 1Z0-1056 Online Practice Questions and Exam Preparation

Oracle 1Z0-1056 Online Questions & Answers

• Question 51:

  Identify two values that default from Customer Profile Classes. (Choose two.)

  A. Business Purpose
  B. Statement Cycle
  C. Legal Entity
  D. Tax
  E. Payment Terms
  D. Tax
  E. Payment Terms

• Question 52:

  The Billing Manager has navigated to the Billing Work Area to review incomplete transactions. Which link on the Incomplete Infotile will provide detailed information on the most recent incomplete transactions?

  A. 20+ Days Link
  B. 0-10 Days Link
  C. 0-5 Days Link
  D. 10+Days Link
  B. 0-10 Days Link

• Question 53:

  A client rents equipment for special events. They have the following invoicing requirements: invoice must De entered and be due either immediately, or 20 or 10 days before the event. The Deferred Event Revenue Account for Rentals is to be

  credited at the time of invoice booking. After the events occur, the client 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.

• Question 54:

  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 55:

  What are the three seeded contract configuration rules that Revenue Management provides to automatically create contracts? (Choose three.)

  A. by Quote Number and time frame
  B. by Source Document and time frame
  C. by Item and time frame
  D. by Customer and time frame
  E. by Source Document Line andtime frame
  B. by Source Document and time frame
  C. by Item and time frame
  E. by Source Document Line andtime frame

• Question 56:

  Your Customer Upload Batch with an error and you identify the error as being due to an incorrect Payment Method. How will you correct the error?

  A. by using the Customer Import Interface work area
  B. by using the correct Customer Payment Method spreadsheet
  C. by using the correct Customer Data spreadsheet
  D. by importing the correct data by using a new spreadsheet upload
  B. by using the correct Customer Payment Method spreadsheet

• Question 57:

  When deciding how to set up the system to recognize revenue, it is important 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 contingencies can 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 58:

  What is required to register an external user to Bill Management?

  A. a customer account contact with the responsibility types bill to and ship-to
  B. a customer account contact with a valid mailing address
  C. a customer account contact with a valid mobile number
  D. a customer account contact with a valid email address
  A. a customer account contact with the responsibility types bill to and ship-to

• Question 59:

  You created a bills receivable that is factored with recourse and applied a wrong receipt to the short- term debt before the bill maturity date plus the risk elimination days. Which actions are true? (Choose two.)

  A. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Protested.
  B. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Hold.
  C. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.
  D. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Pending Remittance.
  E. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Unpaid.
  C. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.
  D. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Pending Remittance.

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  For bills receivable factored with recourse, receipts are applied to short term debt before the bill maturity date plus risk elimination days. For receipts applied to short term debt, use the Recall action to recall the bill receivable and reverse these receipt applications.

• Question 60:

  Which three receipts can be automatically applied by the "Apply Receipts Using AutoMatch" process?

  A. Receipts that are manually created.
  B. Miscellaneous receipts.
  C. Receipts created from a lockbox and uploaded.
  D. Receipts created in a spreadsheet and uploaded.
  E. Receipts with unapplied amounts.
  A. Receipts that are manually created.
  C. Receipts created from a lockbox and uploaded.
  D. Receipts created in a spreadsheet and uploaded.