Oracle 1Z0-1056 Online Practice Questions and Exam Preparation

Oracle 1Z0-1056 Online Questions & Answers

• Question 81:

  Which two Collection Preferences can be selected as the default transaction class for the Transaction tab? (Choose two.)

  A. Debit Memo
  B. Deposit
  C. Charge Back
  D. Credit Memo
  E. Guarantee
  A. Debit Memo
  D. Credit Memo

• Question 82:

  Which two statements are true when you are using the Intercompany Reconciliation Process? (Choose two.)

  A. The Transaction Summary Report shows only transactions with a status of received.
  B. The Clearing Company Balancing Lines appear in the Intercompany Reconciliation Summary Report.
  C. The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
  D. The ledger balancing lines are generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.
  E. You need to submit the Extract Intercompany Reconciliation Data job.
  C. The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
  D. The ledger balancing lines are generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.

• Question 83:

  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 will be 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 84:

  Which is NOT a valid Infotile in the Accounts Receivables Work Area?

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

• Question 85:

  The Billing Manager has navigated to the Billing work area to complete a transaction. The Incomplete Transactions Overview Region on the Billing Work Area page has a drilldown option through a column to complete the transaction. Identify the column.

  A. Transaction Class
  B. Transaction Number
  C. Transaction Source
  D. Transaction Date
  B. Transaction Number

• Question 86:

  When reversing a receipt, if an adjustment or chargeback exists, how are the off-setting adjustments created?

  A. manually, but without using the Adjustment Reversal and Chargeback Reversal activities
  B. automatically, but without using the Adjustment Reversal and Chargeback Reversal activities
  C. automatically by using the Adjustment Reversal and Chargeback Reversal activities
  D. manually by using Chargeback Reversal activities
  E. manually by using Adjustment Reversal activities
  C. automatically by using the Adjustment Reversal and Chargeback Reversal activities

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  When you reverse a receipt, if an adjustment or chargeback exists, Receivables automatically generates off-setting adjustments using the Adjustment Reversal and Chargeback Reversal activities.

• Question 87:

  Which two statements are true regarding the Promise to Pay feature in the Collections application?

  A. Mass promise to pay amounts automatically become partial payments.
  B. You cannot cancel a promise made in error if it is before the promise due date.
  C. Promise information is updated by scheduling the Promise Reconciliation process.
  D. You can cancel a promise made in error if it is before the promise due date.
  A. Mass promise to pay amounts automatically become partial payments.

• Question 88:

  You schedule print runs of transactions and 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 a transaction, 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 recommended that 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 recommended that 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 89:

  You are utilizing the "Upload Customer From Spreadsheet" option. What information on the Customer Worksheet must be unique for each customer record?

  A. Customer Number, Customer Account Number, Customer Site Number
  B. Customer Name, Customer Billing Address, Customer Bank Account
  C. Customer Name, Customer Account Number, Customer Site Number
  D. Customer Number, Customer Billing Address, Customer Bank Account
  A. Customer Number, Customer Account Number, Customer Site Number

• Question 90:

  A Billing Specialist has created and completed an invoice for $100 USD for Customer A. The Specialist prints the invoice and realizes that the invoice should have been created for Customer B. The accounting for the transaction for Customer

  A is posted to the General Ledger.

  How can this be corrected?

  A. Create an adjustment for the entire amount and create a negative adjustment for Customer B.
  B. Create an on-account credit memo for $100 USD for the invoice and enter a new invoice for Customer B.
  C. Change the status of the invoice to Incomplete and enter a new invoice for Customer B.
  D. Navigate to the credit transaction link in the Billing work area, credit the entire amount, and enter a new invoice for Customer B.
  A. Create an adjustment for the entire amount and create a negative adjustment for Customer B.