1Z0-1056-21 Online Practice Questions and Answers
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
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. Collectors
B. Standard Memo Lines
C. Revenue Types
D. Receivable Specialists
E. Revenue Contingencies
Where is the summary delinquency data displayed on the Collections Dashboard?
A. Activity tab
B. Correspondence tab
C. Profile tab
D. Aging tab
Your client's legacy system uses a hierarchical parent/child relationship to organize customer information because a single customer may have more than one bank account or payment method. Does this prevent you from using the Oracle Fusion Trading Community Model Data Import program?
A. The program allows the use of parent, child, and grandchild table hierarchies, but it requires multiple Customer Master records for each customer within the hierarchy.
B. The program allows table hierarchies for customer bank accounts, but not for other customer information.
C. No; the program contains parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
D. Yes; the program specifically prohibits parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
E. The use of parent, child, and grandchild table hierarchies is allowed only in Accounts Payable, not Accounts Receivable.
Identify two credit memo options. (Choose two.)
A. Tax only
B. Advance
C. Paid freight
D. Invoice lines
E. Paid amount only
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.
Which two statements are true regarding the Promise to Pay feature in the Collections application?
A. Mass promise to pay amounts automatically become partial payments.
B. You cannot cancel a promise made in error if it is before the promise due date.
C. Promise information is updated by scheduling the Promise Reconciliation process.
D. You can cancel a promise made in error if it is before the promise due date.
Company ABC wants their logo displayed in all customer invoices. How do you meet this business requirement?
A. Use Web Services to integrate with an external system that can handle this requirement.
B. Modify the Invoice Print Layout Bill Presentment Template.
C. Enable the setting "Allow Change to Printed Transactions" in Receivables System Options.
D. Extend the "Print Receivables Transactions" program.
Which three actions can be performed in the Collections Work Area, which will have an impact on the collection process?
A. Processing a payment promise in the Transactions Tab.
B. Creating a credit memo in the Transactions Tab.
C. Changing the collector in the Profile Tab.
D. Applying a customer payment in the Aging Tab.
E. Adding new customer contacts in the Contacts tab.
Which configuration step is required for processing Collections disputes?
A. Define Aging Method to be used with disputed transactions.
B. Define Dispute Thresholds in Collections Preferences.
C. Set "Send Dispute Notice" Option to "Yes" in Collections Preferences.
D. Define a "Collections" Approval Group as well as a "Billing" Approval Group in the BMP Worklist.