[Mar 28, 2022] Free Oracle Financials Cloud 1Z0-1056-21 Official Cert Guide PDF Download [Q31-Q47]

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[Mar 28, 2022] Free Oracle Financials Cloud 1Z0-1056-21 Official Cert Guide PDF Download

Oracle 1Z0-1056-21 Official Cert Guide PDF

Oracle 1Z0-1056-21 Exam Syllabus Topics:

Topic	Details
Topic 1	Create & Process Bills Receivables Remittances Configure and Use Oracle Bill Management
Topic 2	Manage Resources, Salesperson, Sales credits and Salesperson account references Configure Sub Ledger Accounting
Topic 3	Manage Transaction types, Transaction sources, Items and Memo lines Configure Revenue for Receivables
Topic 4	Manage Automatic Receipts & Funds Capture Managing Customer Billing Configuring Common Receivables
Topic 5	Manage Account Receivables Reconciliation Report with Business Intelligence Publisher (BIP)
Topic 6	Configuring Customer Billing Configure & Import Customers Create & Process Receipt Exceptions

NEW QUESTION 31
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.

References:

NEW QUESTION 32
A Billing Specialist creates an adjustment for an incorrect invoice that exceeds a user’s approval limit.
What is the status of the adjustment?

Pending Approval

Forwarded for Approval

Pending Research

Approval Required

References:

NEW QUESTION 33
Identify two credit memo options. (Choose two.)

Tax only

Advance

Paid freight

Invoice lines

Paid amount only

NEW QUESTION 34
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.

Transaction Class

Transaction Number

Transaction Source

Transaction Date

NEW QUESTION 35
When importing Receivable transactions into Fusion Receivables, the Autoinvoice log gives the error message “Error: Item validation org not set up for the BU.” What action should you take to solve the issue?

Set up Item validation organization in Inventory Item.

Validate the Item validation organization in inventory Org.

Set up Item validation organization in Inventory Org.

Set up Item validation organization in Receivables System Options.

NEW QUESTION 36
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

NEW QUESTION 37
Your customer wants to retrieve values for the Line of Business segment based on Customer Class for the Revenue account.
Which option would you use to achieve this with the help of the Subledger Accounting solution?

Mapping Set

Supporting References

Transaction References

Description Rule

References:

NEW QUESTION 38
If AutoAccounting is set to derive accounting segments based on a standard line, the transaction line must be either ________________ or ________________. Otherwise, AutoAccounting cannot derive a valid account code combination for revenue recognition.
Identify the two values. (Choose two.)

a standard memo line

a purchasing item

a credit memo line

an inventory item

a debit memo line

References:

NEW QUESTION 39
You are defining a new receipt class to process manual customer payments and plan to use reconciliation accounting in Cash Management.
Which two clearance methods enable you to match and clear transactions in Cash Management? (Choose two.)

by factoring

by Conformation

by Automatic Clearing

Directly

by matching

NEW QUESTION 40
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.)

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.

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.

Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.

Time-based contingencies must not expire before the contingency can be removed and revenue recognized.

Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.

References:

NEW QUESTION 41
Three salespersons are assigned to a transaction line with a revenue split of 40:50:10. If you transfer 5% to a new sales person, what is the new revenue split between the four sales persons?

38.34 : 48.34 : 8.32 : 5

35: 45 : 5: 5

38: 47.5: 9.5: 5

40: 50: 5: 5

NEW QUESTION 42
Which configuration task needs to be completed before you can create Bills Receivables for a customer?

Define approval limits.

Define standard memo lines.

Define revenue scheduling rules.

Define drawee site.

NEW QUESTION 43
Which two are Late Charge Calculation Methods?

Credit Items and Disputed Transactions

Late Payments Only

Adjustment

Overdue Invoices Only

NEW QUESTION 44
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

NEW QUESTION 45
You are creating a remittance bank account for the factored with recourse bills receivable remittance receipt method.
Which bank account setup controls receipt application to short-term debt?

short-term debt clearing days

risk elimination days

clearing days

collection days

lead days

recall days

References:

NEW QUESTION 46
Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)

drilldown to see reconciliation details and to make reconciling corrections

drilldown on the difference amounts to see specific reconciling items and the potential cause of the out-of-balance condition

drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity

drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger