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Exam Oracle Financials Cloud: Receivables 2020 Implementation Essentials
Number 1Z0-1056-20
File Name Oracle Financials Cloud-Receivables 2020 Implementation Essentials.PremDumps.1Z0-1056-20.2021-01-11.1e.75q.vcex
Size 63 Kb
Posted January 11, 2021
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Demo Questions

Question 1
Your customer has three sites defined in the system, site 1, site 2, and site 3. All sites have their own billing strategy defined and Balance Forward Billing is enabled for site 1 and Site 2 at the account level. 
How will bills be generated?

  • A: Sites 1, 2, and 3 activities will be included in a single bill.
  • B: Sites 2 and 3 activities will be included in a single bill.
  • C: Sites 1 and 2 activities will be included in a single bill.
  • D: Sites 1 and 3 activities will be included in a single bill.



Question 2
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.)

  • A: Preferences must be enabled and Enable Bankruptcy must be set to Yes for the customer.
  • B: 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.
  • C: Preferences must be enabled and Enable Bankruptcy must be set to Yes in Manage Collections Preferences in the Functional Setup Manager for Advanced Collections.
  • D: The Collections Manager creates a bankruptcy request in the Customer Relationship Management (CRM) application and a collector should be configured as a resource.
  • E: Bankruptcy must be applied at the customer level, which includes all transactions at the customer, account, and Site levels.
  • F: The customer does not have the default strategy and default collector assigned at the customer account and site level. 



Question 3
Identify three activities that you can perform from the Collections Dashboard. (Choose three.)

  • A: Verify Customer Payments.
  • B: Assign a Collector to a delinquent customer.
  • C: View the Total Amount Due for delinquent customers.
  • D: Record an activity to create a task or tasks to follow up on a delinquent customer.
  • E: Update the work status of a work item for a delinquent customer.



Question 4
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?

  • A: Set the credit classification revenue recognition policy to look for Line First and Tax Later.
  • B: Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.
  • C: Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.
  • D: Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the receipt method.
  • E: Set the payment terms revenue recognition policy to look for Line First and Tax Later.



Question 5
Which two determinant types are used in reference data assignment? (Choose two.)

  • A: Business Unit
  • B: Account Segment
  • C: Project Segment
  • D: Project unit



Question 6
A Billing Specialist creates an adjustment for an incorrect invoice that exceeds a user's approval limit. What is the status of the adjustment?

  • A: Pending Approval
  • B: Forwarded for Approval
  • C: Pending Research
  • D: Approval Required



Question 7
A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the remaining balance on open invoices, but some of the amounts have exceeded the Billing Specialist's approval limits. 
What would be the result?

  • A: The program creates the adjustments with a status of Pending Approval for the amount that exceeds the Billing Specialist's approval limits.
  • B: The program can be run only if the amount is within the Billing Specialist's approval limits.
  • C: The program creates the adjustments with a status of Rejected for the amount that exceeds the Billing Specialist's approval limits.
  • D: The program creates the adjustments only for the amounts within the Billing Specialist's approval limits.



Question 8
Your customer has a state tax of 20% and a city tax of 10% as non-inclusive tax rates that are applicable on a transaction line. Your invoice has two lines: Line1 with $600 USD and Line2 with $400 USD.
What will be the resulting tax and invoice amounts for your tax invoice?

  • A: state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD.
  • B: state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,257.78 USD.
  • C: state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.
  • D: state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 USD.
  • E: state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.



Question 9
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: You can issue a credit card refund to a customer who has made a cash payment.
  • D: You can refund receipts that are factored.



Question 10
Which role provides access to Receivables  Revenue Adjustments Real Time OTBI Subject area?

  • A: Revenue Manager
  • B: Accounts Receivable Manager
  • C: Accounts Receivable Specialist
  • D: Billing Specialist






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