1Z0-1056-21 Online Practice Questions and Answers

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.

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 45 (Enterprise Set), Net 45 (USA Set)

B. Net 30 (Enterprise Set), Net 45 (Enterprise Set)

C. Net 30 (Enterprise Set), Net 45 (USA Set)

D. 1%/10 Net 30 (USA Set), Net 45 (USA Set)

In which two ways would you configure Satisfaction Method (SM) and Satisfaction Measurement Model (SMM) in Revenue Management to recognize revenue for performance obligations over time? (Choose two.)

A. by setting SM to "Requires Complete" and SMM to "Period"

B. by setting SM to "Allow Partial" and SMM to "Percent"

C. by setting SM to "Allow Partial" and SMM to "Period"

D. by setting SM to "Requires Complete" and SMM to "Quantity"

E. by setting SM to "Requires Complete" and SMM to "Percent"

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

A. transactions that have the Print Option set to Do Not Print

B. transactions that have the selected payment terms

C. transactions have a Bill Type of Imported

D. transactions that were included in a previous Balance Forward Bill

What are the three seeded contract configuration rules that Revenue Management provides to automatically create contracts? (Choose three.)

A. by Quote Number and time frame

B. by Source Document and time frame

C. by Item and time frame

D. by Customer and time frame

E. by Source Document Line andtime frame

Identify two late charge interest calculation methods. (Choose two.)

A. Previous Balance

B. Adjusted Balance

C. Overdue Transactions only

D. Average Daily Balance

When deciding how to set up the system to recognize revenue, it is important to understand the extent of

revenue deferral and the subsequent timing of revenue recognition.

Which two statements are true when you consider that recognition depends on the nature of the

contingency? (Choose two.)

A. Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.

B. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.

C. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.

D. Time-based contingencies must not expire before the contingency can be removed and revenue recognized.

E. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.

Identify the dunning letter template set provided by an application.

A. Soft, Regular, Hard

B. Regular, Medium, Hard

C. Final Demand, Soft, Medium

D. Regular, Final Demand, Medium

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 are Late Charge Calculation Methods?

A. Credit Items and Disputed Transactions

B. Late Payments Only

C. Adjustment

D. Overdue Invoices Only