100% Passing Guarantee - Brilliant 1Z0-1056-21 Exam Questions PDF [Jan-2022]
1Z0-1056-21 Dumps 2022 - NewOracle 1Z0-1056-21 Exam Questions
NEW QUESTION 76
Your company wants to generate Intercompany transactions only if the amount Involved is equal to or greater than $3,000 USD.
How should you configure Intercompany System Option*; to meet this requirement?
- A. Set "Minimum Transaction Amount" to 3,000 and "Minimum entered Currency" to USD.
- B. Set "Minimum Transaction Amount" to 2,999.99 and "Minimum Entered Currency" to ALL
- C. Define intercompany approval rule, to automatically reject intercompany transactions that do not meet the minimum amount requirement.
- D. Set "Minimum Invoice Amount" to 3,000 and "Invoice Currency" to USD in Payables Invoice Options and Receivables System Options.
Answer: D
NEW QUESTION 77
What is the initial status of a newly created bill receivable?
- A. Pending posting
- B. Awaiting approval
- C. New
- D. Awaiting submission
- E. Pending remittance
Answer: E
NEW QUESTION 78
Company ABC wants their logo displayed in all customer invoices. How do you meet this business requirement?
- A. Extend the "Print Receivables Transactions" program.
- B. Modify the Invoice Print Layout Bill Presentment Template.
- C. Use Web Services to integrate with an external system that can handle this requirement.
- D. Enable the setting "Allow Change to Printed Transactions" in Receivables System Options.
Answer: C
NEW QUESTION 79
Which three receipts types can be reversed in the Cloud? (Choose three.)
- A. Miscellaneous receipts
- B. Receipts applied to open receipts
- C. Credit card chargebacks posted to GL
- D. Invoice-related receipts
- E. Receipts that are archived
Answer: A,C,D
NEW QUESTION 80
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 2 and 3 activities will be included in a single bill.
- B. Sites 1 and 3 activities will be included in a single bill.
- C. Sites 1, 2, and 3 activities will be included in a single bill.
- D. Sites 1 and 2 activities will be included in a single bill.
Answer: D
NEW QUESTION 81
When you move revenue on an invoice line from an unearned account to an earned revenue account, Receivables ______________.
- A. leaves the invoice line revenue contingencies until Automatic Revenue Recognition is run
- B. leaves the invoice line revenue contingencies until Reconcile Revenue Contingencies is run
- C. removes the invoice line revenue contingencies
- D. removes the pending sales credits
Answer: C
Explanation:
References:
NEW QUESTION 82
What are the two locations where the system can look for Receipt Match By Value when Receivables applies customer payments automatically for manually created receipts? (Choose two.)
- A. AutoMatch Rule
- B. Customer
- C. Receipt Method
- D. System Options
Answer: B,D
Explanation:
References:
NEW QUESTION 83
What is the impact on transactions of changing the billing cycle for a customer or group of customers?
- A. Existing transactions with activity adapt the new billing cycle.
- B. New transactions after this change inherit the new billing cycle.
- C. The billing cycle does not have any impact on new transactions.
- D. Existing transactions with no activity retain the old billing cycle.
Answer: B
NEW QUESTION 84
Which two are NOT components of a Business Intelligence Publisher report? (Choose two.)
- A. Matrix
- B. View
- C. Translation
- D. Layout
- E. Data Model
Answer: A,B
NEW QUESTION 85
You entered an invoice of $12500 in the receivable and created a receipt with the amount $15000 received from the customer.
How will the system react if over application is enabled in transaction type while receipt is applied to the invoice?
- A. Invoice balance is displayed as -2500.
- B. Invoice balance is displayed as 0 and Miscellaneous receipt is created with 2500.
- C. Invoice balance is displayed as 0.
- D. Invoice balance is played as 0 and On account receipt is created with 2500.
Answer: A
NEW QUESTION 86
Which configuration task needs to be completed before you can create Bills Receivables for a customer?
- A. Define revenue scheduling rules.
- B. Define drawee site.
- C. Define standard memo lines.
- D. Define approval limits.
Answer: D
NEW QUESTION 87
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. Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.
- C. Set the payment terms revenue recognition policy to look for Line First and Tax Later.
- 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. Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.
Answer: B
Explanation:
References:
NEW QUESTION 88
A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation.
How would you configure the Performance Obligation Identification Rule to ensure correct grouping of these items?
- A. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute
- B. by defining an exclusion rule to exclude customer classes that are "Retail"
- C. by defining an item group and assigning that to the rule
- D. by defining a grouping rule on the customer class
- E. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain the same value for that attribute
Answer: A
NEW QUESTION 89
What do you need to total in order to find the total transaction price for a customer contract that is calculated by Revenue Management?
- A. the extended SSP amounts for all performance obligations in the customer contract
- B. the billing amount for all performance obligations in the customer contract
- C. the allocated amount for all performance obligations in the customer contract
- D. the SSP amounts for all performance obligations in the customer contract
- E. the selling price for all performance obligations in the customer contract
Answer: B
NEW QUESTION 90
A Cloud customer requires enhanced message content in transactions delivered using email.
Which three are supported in the body of the message? (Choose three.)
- A. Prevent use of Dynamic Tokens.
- B. Increase the character limit to greater than 4000.
- C. Insert hyperlinks.
- D. Insert logos.
- E. Modify the fonts and font size.
Answer: C,D,E
NEW QUESTION 91
Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)
- A. drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without actually downloading to Excel
- B. drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger
- C. drilldown on the difference amounts to see specific reconciling items and the potential cause of the out-of-balance condition
- D. drilldown to see reconciliation details and to make reconciling corrections
- E. drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity
Answer: A,C,E
Explanation:
References:
NEW QUESTION 92
ABC Company uses euros as the ledger currency, and it receives an invoice with three line items in Norwegian krone. For this example, the conversion rate between the krone and the euro is 6.55957. The lines total of invoice is 7.93 euro. However, the invoice amount shows a total of 7.92 euro. The user was not able to run the accounting.
Where should you define the header-level rounding account?
- A. Receivable System Option
- B. Customer Account Level
- C. Transaction Source
- D. Customer Site Level
- E. Transaction Type
Answer: C
NEW QUESTION 93
Identify the receivables system option that relates to customers.
- A. Automatic Site Numbering
- B. Receipt Method
- C. Reciprocal Customer
- D. Default Country
Answer: B,D
NEW QUESTION 94
Which three Infotiles can be seen in the Accounts Receivables work area? (Choose three.)
- A. Unidentified Receipts
- B. Unapplied Credits
- C. Unapplied Receipts
- D. Activities
- E. Receipt Batches
Answer: B,C,E
NEW QUESTION 95
Which predefined dunning letter template is available in the Collections application
- A. Soft, Medium, Hard, Final
- B. Regular, Medium, Hard, Difficult
- C. Regular, Medium, Hard, Easy
- D. Soft, Regular, Medium, Hard
Answer: A
NEW QUESTION 96
There are a few customers that you do not want to send dunning letters to.
How would you exclude these customers from dunning?
- A. Disable Send Dunning Letter on the Correspondence tab.
- B. Disable Send Dunning Letter in Collections Preferences.
- C. Disable Send Dunning Letter on the Profile tab.
- D. Disable Send Dunning Letter in Transaction Type.
- E. Disable Send Dunning Letter in Transaction Source Type.
Answer: C
Explanation:
References:
NEW QUESTION 97
You created a bills receivable that is factored with recourse and applied a wrong receipt to the short-term debt before the bill maturity date plus the risk elimination days.
Which actions are true? (Choose two.)
- A. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Unpaid.
- B. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Hold.
- C. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Pending Remittance.
- D. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.
- E. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Protested.
Answer: C,D
Explanation:
For bills receivable factored with recourse, receipts are applied to short term debt before the bill maturity date plus risk elimination days. For receipts applied to short term debt, use the Recall action to recall the bill receivable and reverse these receipt applications.
References:
NEW QUESTION 98
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. 1%/10 Net 30 (USA Set), Net 45 (USA Set)
- B. Net 45 (Enterprise Set), Net 45 (USA Set)
- C. Net 30 (Enterprise Set), Net 45 (USA Set)
- D. Net 30 (Enterprise Set), Net 45 (Enterprise Set)
Answer: D
NEW QUESTION 99
The process of remitting receipts to a bank results in fund transfer errors.
Identify three corrective actions to resolve this. (Choose three.)
- A. change of instrument
- B. debit memo reversal
- C. receipt reversal
- D. clearing payment information
- E. credit reversal
Answer: A,C,D
Explanation:
References:
NEW QUESTION 100
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