[Jul 21, 2023] 1z0-1056-22 Sample with Accurate & Updated Questions
1z0-1056-22 Exam Info and Free Practice Test | ExamDumpsVCE
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NEW QUESTION # 16
You have created payment terms in a system and associated them in the USA reference data set. All the payment terms in the system are shown as follows. Business Unit X has a set assignment of Enterprise Set for payment terms.
Payment Term = Net 30; Reference Data Set = Enterprise Set
Payment Term = Net 45; Reference Data Set = Enterprise Set
Payment Term = 1%/10 Net 30; Reference Data Set = USA Set
Payment Term = Net 45; Reference Data Set = USA Set
If an invoice is created in Business Unit X, which payment term set is available for use in a transaction?
- A. Net 30 (Enterprise Set), Net 45 (USA Set)
- B. Net 30 (Enterprise Set), Net 45 (Enterprise Set)
- C. 1%/10 Net 30 (USA Set), Net 45 (USA Set)
- D. Net 45 (Enterprise Set), Net 45 (USA Set)
Answer: B
NEW QUESTION # 17
When a customer opts to make a payment by a credit card, this receipt is identified as a(n) _______________.
- A. AutoLockbox receipt
- B. manual receipt
- C. miscellaneous receipt
- D. quick cash receipt
- E. automatic receipt
Answer: E
NEW QUESTION # 18
You are configuring tax for Receivables to cash transactions.
Which two additional Party types can be selected only in the Tax engine for Receivables Transactions to identify the place of supply? (Choose two.)
- A. Bill-to party
- B. Point of origin party
- C. Ship-to party
- D. Ship-from party
- E. Point of acceptance party
Answer: B,D
NEW QUESTION # 19
Which three attributes are displayed in the detail table of the Balance forward Bill infotile? (Choose three.)
- A. Billing date
- B. Collector
- C. Past due Amount
- D. Due date
- E. Amount due on Bill
Answer: A,D,E
NEW QUESTION # 20
You created an Auto cash Ruleset where the first rule to be applied to receipts is Match Payments with Invoice. Discount = Earned Only, Late charges = NO, Receipt = $900, Receipt date = 14-Feb-2020, Discount Grace Days = 5.
Which transaction will be applied to the receipt?
- A. Invoice Amount: $1000, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 28-Feb 2020
- B. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 20-Feb-2020
- C. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 24-Feb-2020
- D. Invoice Amount: $800, Payment terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 28-Feb-2020
Answer: B
NEW QUESTION # 21
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.)
- A. Receivable Specialists
- B. Standard Memo Lines
- C. Revenue Contingencies
- D. Revenue Types
- E. Collectors
Answer: B,C,D
NEW QUESTION # 22
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?
- A. Clear the account
- B. Apply to the oldest invoice first
- C. Match payment with Invoice
- D. Clear past due invoices
- E. Clear the past due invoices grouped by payment terms
Answer: B
NEW QUESTION # 23
As an implementer, while importing data from the legacy/third-party system, you forgot to populate the accounting distribution in the RA_INTERFACE_DISTRIBUTIONS_ALL table.
What happens when you run accounting?
- A. Invoice will get created but accounting won't be created.
- B. Neither invoice nor accounting will be created.
- C. Invoice will be created and the system will use auto accounting configuration to create accounting.
- D. It will return an error and the data will be stuck in the interface table.
Answer: C
NEW QUESTION # 24
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. Approval Required
- B. Pending Approval
- C. Forwarded for Approval
- D. Pending Research
Answer: B
NEW QUESTION # 25
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. Change the status of the invoice to Incomplete and enter a new invoice for Customer B.
- B. Create an adjustment for the entire amount and create a negative adjustment for Customer B.
- C. Create an on-account credit memo for $100 USD for the invoice 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.
Answer: C
NEW QUESTION # 26
Which two duties are included in the Accounts Receivable Specialist associated role? (Choose two.)
- A. Receipt Creation Duty
- B. Payment Settlement Management Duty
- C. Import Payables Invoices Duty
- D. Trading Community Hierarchy Management Duty
Answer: B,C
NEW QUESTION # 27
One of the customers pays its bills electronically from their bank account (Direct debit).
Which process do you need to run in Receivables to initiate the transfer of funds from their bank account to your organization's bank account?
- A. Remittance Process
- B. Clear Receipts Automatically Process
- C. Automatic Receipt Process
- D. Lockbox Process
Answer: A
NEW QUESTION # 28
After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the Transactions window.
What are three results of this action? (Choose three.)
- A. The invoice is eligible for transfer to the General Ledger.
- B. The invoice is sent for a dunning follow-up.
- C. The invoice can now be printed.
- D. Payment schedules are created using the payment terms specified.
- E. The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.
Answer: A,C,D
NEW QUESTION # 29
Identify a valid reason for a Collector being unable to enter a dispute against a particular transaction.
- A. The transaction date falls in a closed period.
- B. The invoice is not closed.
- C. The transaction is an invoice.
- D. The transaction type is not associated with a credit memo type.
- E. The transaction is partially paid.
Answer: D
NEW QUESTION # 30
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?
- A. collection days
- B. lead days
- C. recall days
- D. risk elimination days
- E. clearing days
- F. short-term debt clearing days
Answer: F
NEW QUESTION # 31
You are trying to migrate the Subledger Accounting setup by using the Export and Import functionality in the Setup and Maintenance work are a. The import process, however, returns errors. Identify two reasons for the import failure.
- A. an inactive Accounting Method
- B. an inactive Mapping Set
- C. an inactive Journal Line Type
- D. an inactive Journal Entry Rule Set
Answer: B
NEW QUESTION # 32
Which two are Late Charge Calculation Methods?
- A. Adjustment
- B. Credit Items and Disputed Transactions
- C. Overdue Invoices Only
- D. Late Payments Only
Answer: C,D
Explanation:
https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_9F953CFFF569FA73E040D30A688151DC
NEW QUESTION # 33
To determine the best approach to converting a client's data, you must know which setups are Reference: Data Set enabled and can be shared.
Which three are Reference: Data Set enabled setups in Receivables? (Choose three.)
- A. Revenue Transactions
- B. Standard Memo Lines
- C. Receivables Activities
- D. Revenue Contingencies
- E. Customer Account Sites
Answer: A,B,D
NEW QUESTION # 34
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