100% Reliable 1Z0-1056-24 Exam Dumps Test Pdf Exam Material [Q52-Q74]

Q52. Which statement is true when you create an Implementation Project for Oracle Financials Cloud?

The Implementation Project is preconfigured and cannot be deleted or changed.

You must plan your Implementation Project carefully because you cannot delete it or make changes later.

You must select the offering “Financials” and each individual product or option to perform the setup for each product in Oracle Financials Cloud.

When you select the offering “Financials,” it automatically allows you to perform the setup for all Oracle Financials Cloud products.

You need to make only the project name unique, and then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management, and Supply Chain Management.

Q53. 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

Q54. Your organization has decided to use the Portal Upload delivery method for some of their customers. You will be using this in place of other options, such as Print Email, or XML to deliver customer invoices.
Which step must be performed in the system to deliver transactions to your customers by using the Portal Upload method?

Select Portal Upload as a delivery method on Customer Profile under Statement and Dunning.

Create a custom preferred delivery method in the Manage Receivables Lookups task in Functional Setup Manager.

Select Portal Upload as a delivery method on Customer Profile under Invoicing.

Run the Create Customer Statement process in Scheduled Processes.

Create a custom-preferred delivery method in the Manage Receivables System Options task in Functional Setup Manager.

Q55. You created a new enterprise structure in the Cloud for a single country. In the structure, there are two legal entities: a single ledger and two business units (representing two warehouses, each owned by one of the legal entities). The tax regulations are common between the legal entities.
When assigning the tax regime to parties, what should you do to share all setup for Tax?

Assign one legal entity to Global Configuration and one legal entity to Party Specific Configuration.

Assign one legal entity to Global Configuration and one business unit to First Party Configuration with Party Overrides.

Assign both business units to Global Configuration Owner.

Assign the ledger to Global Configuration Owner.

Assign two business units to First Party Configuration with Party Overrides.

Q56. An invoice for $100 USD has revenue deferred due to unmet payment-based contingencies and the Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 USD has been issued against this invoice.
Explain how revenue accounting will occur.

Earned revenue will be debited for $50 USD.

Unearned revenue will be credited for $100 USD.

Earned revenue will be credited for $50 USD.

Unearned revenue will be debited for $50 US

Q57. As a Billing Manager you are responsible for reviewing adjustments and approving them. Which action is not available in the “Approve Adjustments” page?

Approve

Request Information

Reassign

Reject

Edit

Q58. Which three benefits do intercompany reconciliation reports provide to an accountant?

Comparing receivables and payables account balances and identifying discrepancies.

Displaying intercompany receivables and payables balancing lines.

Identifying transaction portions (either receiver or provider side) that have not posted to General Ledger.

Displaying clearing company balancing lines.

Q59. 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.)

If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Protested.

If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Hold.

If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.

If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Pending Remittance.

If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Unpaid.

Q60. 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?

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

by defining a grouping rule on the customer class

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

by defining an item group and assigning that to the rule

by defining an exclusion rule to exclude customer classes that are “Retail”

Q61. Which transactions are included when transactions of specified customers are selected in the Create Balance Forward Billing Program?

transactions that have the Print Option set to Do Not Print

transactions that have the selected payment terms

transactions have a Bill Type of Imported

transactions that were included in a previous Balance Forward Bill

Q62. Which three receipts can be automatically applied by a system? (Choose three.)

receipts that are unapplied

receipts created in a spreadsheet and uploaded

miscellaneous receipts

receipts that are manually created

receipts created in a lockbox and uploaded

Q63. Upon approval of a remittance batch of type Factored with Recourse, the Receivables application creates a receipt and establishes risk.
How does Receivables establish risk?

By recording short-term debt

By generating a bills receivables adjustment

By recording an entry to the Remitted Bills Receivable account

By creating an on-account credit memo

Q64. Manage Balance Forward Billing Cycles and Payment Terms
Scenario
You are a consultant for a client who is implementing the Balance Forward Billing feature in Oracle Financials Cloud. You have been asked to define Balance Forward Billing Cycle as well as Balance Forward Billing Payment Terms so that your client can generate consolidated bills.
Task:
Define Balance Forward Payment Terms, where:
Name of the payment term is XXNet 30 (Replace XX with 03, which is your allocated user ID.) Payment terms are accessible to all business units Discounts are applicable to the full invoice amount Discounts are applicable even when the customer does not send a full payment Payment terms are effective as of January 1. 2023

Q65. Which two statements are true about configuring Collection Strategies?

You need to create Scoring Formulae (or use predefined Scoring Formulas).

You need to define an Aging Method that meets the requirements of your organization.

You need to SGI the (Collections Method to Strategies for the relevant business unit.

You need to create Strategy Tasks of the type “Automatic” only.

Q66. A customer calls the Accounts Receivables department and asks for the balance of all invoices that are due in the next 30 days. The customer also has a question about a specific invoice line.
As a Billing Specialist, which action would you take?

Search for the information in the Review Customer Account Details user interface.

Apply, reverse, or process the receipt.

Create an open debit memo.

Search for open invoices on the Manage Transaction search page.

Q67. 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?

Set “Minimum Transaction Amount” to 3,000 and “Minimum entered Currency” to USD.

Set “Minimum Transaction Amount” to 2,999.99 and “Minimum Entered Currency” to ALL

Define intercompany approval rule, to automatically reject intercompany transactions that do not meet the minimum amount requirement.

Set “Minimum Invoice Amount” to 3,000 and “Invoice Currency” to USD in Payables Invoice Options and Receivables System Options.

Q68. Your organization is looking to adopt a flexible approach to control the creation of claims investigation when the lockbox files contain invalid positive remittance references. This feature helps manage lockbox files that encounter invalid transaction numbers for receipts with customer assignment.
When this option is enabled in the Manage Receivables System Options task, which process must be run in Scheduled Processes to process Lockbox Receipts with invalid transaction referenced?

Process Receipts and Remittances through Lockbox

Process Lockbox Receipts

Process Lockbox Receipts and Remittance Reference

Process Receipts through Lockbox

Q69. In the customer hierarchy of Customer Corporation, Customer Worldwide is the parent company of Customer USA and Customer Japan. Customer West is a subsidiary of Customer USA.
Which three statements are true if the Customer Corporation hierarchy is assigned to a Pay Below Paying relationship? (Choose three.)

Customer USA can pay for Customer Worldwide, Customer West, and its own transactions.

Customer Japan can pay its own transactions.

Customer USA can pay for Customer West and its own transactions.

Customer Japan can pay for Customer West, Customer USA, and its own transactions.

Customer Worldwide can pay for Customer USA, Customer Japan, Customer West, and its own transactions.

Q70. 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

Q71. What is the order used to group transaction lines during the AutoInvoice Import process?

Transaction Source, Customer Site Profile, Customer Account Profile, system options

System options, Customer Site Profile, Transaction Source, Customer Account Profile

Transaction Source, Customer Account Profile, Customer Site Profile, system options

Transaction Source, Customer Account Profile, system options, Customer Site Profile

Q72. 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.

Q73. Which three receipt types can be reversed in the Cloud?

Receipts applied to open receipts

Miscellaneous receipts

Credit card chargebacks posted to GL

Receipts that are archived

Invoice-related receipts

Q74. After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the Transactions window.
What are three results of this action?

The invoice can now be printed.

The invoice is sent for a dunning follow-up.

The invoice is eligible for transfer to the General Ledger.

The payment schedules are created using the payment terms specified.

The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.

100% Reliable 1Z0-1056-24 Exam Dumps Test Pdf Exam Material [Q52-Q74]

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