Feb-2023 Pass Your 1z0-1056-22 Exam at the First Try with 100% Real Exam [Q38-Q62]

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Feb-2023 Pass Your 1z0-1056-22 Exam at the First Try with 100% Real Exam

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Oracle 1z0-1056-22 Exam Syllabus Topics:

Topic	Details
Topic 1	Create & Process Receipt Exceptions Manage Account Receivables Reconciliation
Topic 2	Manage the Auto-Invoice Process Processing Customer Payments Manage Transaction Printing
Topic 3	Report with Business Intelligence Publisher (BIP) Reporting for Account Receivables & Advanced Collections
Topic 4	Create & Process Bills Receivables Remittances Configure Integration with Other Applications
Topic 5	Report with Oracle Transactional Business Intelligence (OTBI) Configuring Common Receivables
Topic 6	Create and Process Transactions Configure Receivables Using Rapid Implementation
Topic 7	Manage Transaction types, Transaction sources, Items and Memo lines Configure Sub Ledger Accounting

NO.38 When entering the values in the natural account spreadsheet of the rapid implementation for General Ledger workbook, which three accounts types are used to set up the default Receivable account combinations?
(Choose three.)

Liability- Unearned revenue

Revenue- Revenue

Liability-Accounts Payable

Owner’s equity

Asset – Remitted Receipts

NO.39 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.)

Collectors

Standard Memo Lines

Revenue Types

Receivable Specialists

Revenue Contingencies

NO.40 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?

20+ Days Link

0-10 Days Link

0-5 Days Link

10+Days Link

NO.41 Which two initial tasks need to be completed in the Customer Account Profile page in order to generate and deliver XML invoices under the OAGIS (Open Applications Group Integration Specification) 10.1 format?

Select the Enable OAGIS 10.1 XML Format Check Box

Set Preferred Delivery Method to XML

Set Preferred Delivery Methods to Email

Set Preferred Contact Method to XML

Select the Enable XML Invoicing Check Box for Relevant Transaction Classes

NO.42 Identify two late charge interest calculation methods. (Choose two.)

Previous Balance

Adjusted Balance

Overdue Transactions only

Average Daily Balance

NO.43 When discussing the Receivables to Ledger Reconciliation Report with your customer, you are asked a number of questions about how to run the report.
Which statement is true?

You can exclude unidentified receipts, but you cannot exclude on-account activities and unapplied receipts.

You cannot exclude on-account activities, unapplied receipts, and unidentified receipts.

You can include or exclude intercompany transactions, or you can reconcile by intercompany activity only.

You can select only a Closed accounting period.

NO.44 You have created a sales invoice for $900 USD with an item line of $750 USD and a tax rate of 20%. The customer has made a payment of $500 USD and you are required to process the cash application to apply the $500 USD to the item line and $0 USD to tax.
How would you achieve this?

Set the credit classification revenue recognition policy to look for Line First and Tax Later.

Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.

Set Application Rule Set to Line First–Tax After at the transaction type level and/or a default value at system options.

Set Application Rule Set to Line First–Tax After at the transaction source level and/or a default value at the receipt method.

Set the payment terms revenue recognition policy to look for Line First and Tax Later.

NO.45 Which three attributes are displayed in the detail table of the Balance forward Bill infotile? (Choose three.)

Due date

Amount due on Bill

Past due Amount

Collector

Billing date

NO.46 What do you need to total in order to find the total transaction price for a customer contract that is calculated by Revenue Management?

the extended SSP amounts for all performance obligations in the customer contract

the SSP amounts for all performance obligations in the customer contract

the selling price for all performance obligations in the customer contract

the allocated amount for all performance obligations in the customer contract

the billing amount for all performance obligations in the customer contract

NO.47 When you move revenue on an invoice line from an unearned account to an earned revenue account, Receivables ______________.

removes the invoice line revenue contingencies

leaves the invoice line revenue contingencies until Automatic Revenue Recognition is run

removes the pending sales credits

leaves the invoice line revenue contingencies until Reconcile Revenue Contingencies is run

NO.48 Which three Collection Preferences can be selected as the default transaction class for the Transaction tab? (Choose three.)

Deposit

Guarantee

Debit Memo

Credit Memo

Charge Back

NO.49 You are explaining the benefits of using Bill Management as a self-service electronic bill presentment solution to an existing customer.
Which feature is not supported in Bill Management?

Making payments by using a credit card or the bank account

Managing unapplied payments

Managing credit memos

Reviewing customer account balances

Managing disputes

NO.50 What are the three seeded contract configuration rules that Revenue Management provides to automatically create contracts? (Choose three.)

by Quote Number and time frame

by Source Document and time frame

by Item and time frame

by Customer and time frame

by Source Document Line andtime frame

NO.51 A company’s policy is always to apply customer payments to debit and credit items, starting with the oldest due date.
Which function should you include in the default Auto-cash rule?

Clear the past due invoices grouped by payment terms

Clear the account

Match payment with Invoice

Apply to the oldest invoice first

Clear past due invoices

NO.52 Which three transaction types are used to generate late charges? (Choose three.)

Cash Receipts

Adjustments against the original transaction

Credit Memo

Debit Memo

Interest Invoice

NO.53 The Business Intelligence repository contains metadata that defines columns, which you can include in an analysis.
Which three types of columns are available when you create or edit an analysis? (Choose three.)

Hierarchy

Function

Fact

Attribute

Sum

NO.54 Which three Infotiles can be seen in the Accounts Receivables work area? (Choose three.)

Activities

Unapplied Receipts

Unapplied Credits

Receipt Batches

Unidentified Receipts

NO.55 Which two duties are included in the Accounts Receivable Specialist associated role? (Choose two.)

Import Payables Invoices Duty

Receipt Creation Duty

Trading Community Hierarchy Management Duty

Payment Settlement Management Duty

NO.56 Which configuration step is required for processing Collections disputes?

Define Aging Method to be used with disputed transactions.

Define Dispute Thresholds in Collections Preferences.

Set “Send Dispute Notice” Option to “Yes” in Collections Preferences.

Define a “Collections” Approval Group as well as a “Billing” Approval Group in the BMP Worklist.

NO.57 You are not able to initiate a bankruptcy request at the customer site level on behalf of a customer.
Which two conditions are failing? (Choose two.)

Preferences must be enabled and Enable Bankruptcy must be set to Yes for the customer.

The Collections Administrator creates a bankruptcy request in the Customer Relationship Management (CRM) application and a collector should have the Collection Manager and Customer Profile Administrator roles assigned.

Preferences must be enabled and Enable Bankruptcy must be set to Yes in Manage Collections Preferences in the Functional Setup Manager for Advanced Collections.

The Collections Manager creates a bankruptcy request in the Customer Relationship Management (CRM) application and a collector should be configured as a resource.

Bankruptcy must be applied at the customer level, which includes all transactions at the customer, account, and Site levels.

The customer does not have the default strategy and default collector assigned at the customer account and site level.

NO.58 Your client’s legacy system uses a hierarchical parent/child relationship to organize customer information because a single customer may have more than one bank account or payment method.
Does this prevent you from using the Oracle Fusion Trading Community Model Data Import program?

The program allows the use of parent, child, and grandchild table hierarchies, but it requires multiple Customer Master records for each customer within the hierarchy.

The program allows table hierarchies for customer bank accounts, but not for other customer information.

No; the program contains parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.

Yes; the program specifically prohibits parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.

The use of parent, child, and grandchild table hierarchies is allowed only in Accounts Payable, not Accounts Receivable.

NO.59 If a customer has more than one transaction with the same number within a Lockbox transmission, then in which two receipt statuses are the receipts left? (Choose two.)

On-account, if the Customer Account Number or MICR is provided and there are no matching recommendations

Unapplied, if the Customer Account Number or MICR number is provided

Unidentified, if the Customer Account Number or MICR is not provided and there are no successful matching recommendations

Applied, if the Customer Account Number or MICR number is provided

NO.60 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?

Use the Customer Data Exceptions spreadsheet.

Use the Customer Payment Method Exceptions spreadsheet.

Troubleshoot In the Manage Customers page.

Correct error and resubmit the batch.

NO.61 What is the impact on transactions of changing the billing cycle for a customer or group of customers?

The billing cycle does not have any impact on new transactions.

Existing transactions with no activity retain the old billing cycle.

Existing transactions with activity adapt the new billing cycle.

New transactions after this change inherit the new billing cycle.

NO.62 What are the three setup steps required to implement the Lockbox feature? (Choose three.)

Receipt Classes and Receipt Methods

late charges